Staying Fit
The season of gift-giving is almost here, which means consumers are gearing up to hit the stores online and in-person. All expectations point to a strong holiday shopping season, but that doesn’t mean shoppers aren’t looking to stretch their dollars. One way is with cash back deals.
“It’s very reasonable to get 5 to 10 percent cash back on most, if not all, of your holiday purchases if you time things carefully and take advantage of deals,” says Summer Hull, director of content at The Points Guy. “In fact, it’s not impossible to get more in the range of 10 to 20 percent back if you use the right amount of strategy and luck.”
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Cash back deals come in many flavors and are offered from a variety of sources. Some require little effort to reap the rewards. For others you need to put in a little work. Either way, if you’re looking to make some money back on your holiday purchases, opportunities abound including the following:
1. Cash back credit cards
Cash back credit cards are a popular way to earn money back from purchases. Some cards give extra cash back in certain categories like travel or groceries, while others rotate it quarterly or offer a flat rate across all purchases. The best way to save is to maximize those reward points based on how you shop. “Looking for a cash back credit card that matches your spending style can get you more money to use towards Black Friday, especially if you find one with a big sign-up bonus,” says Andrea Woroch, shopping expert and saving-money consultant. She pointed to one credit card that offers $200 when you spend $500 in the first three months of opening an account. “That can cover a good chunk of your holiday purchases.”
Effort level: Easy to medium. If you have a cash back credit card that matches your spending, then you are good to go. If not, it’s time to find one. Make sure to shop around, comparing interest rates, fees and reward levels to find one that meets your needs.
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