The holidays are a wonderful time to get together with friends and family to exchange gifts, but all that shopping can be stressful. In fact, over two-thirds of Americans (70%) admitted that they needed to de-stress from their holiday shopping and 62% did so by buying a present for themselves, according to American Express' Membership Rewards holiday shopping survey.
Holiday shopping costs can already be high without factoring in a gift for yourself. But if shopping is your preferred form of self-care, you'd be smart to see how your credit card's perks might help you save.
Exclusive credit card shopping offers
Many credit cards offer exclusive shopping discounts when you pay with an eligible credit card. American Express, Chase and Bank of America are three issuers that have rotating offers which typically give you either a percentage or set dollar amount of cash back, credited to your account.
For example, you might get a $20 statement credit when you spend $100 at a specific store, on top of the rewards you'd usually earn. Activation is required and you must use your eligible card to complete the purchase.
These offers usually have added terms that you should consider: They vary based on location and type of credit card and usually only last for a limited time. Plus you may have to meet a minimum spending requirement and there are maximum earning benefits.
Shopping portals
If you're looking to buy a gift for yourself online, consider purchasing it through a credit card shopping portal. Some card issuers, such as Chase and Wells Fargo, offer online shopping portals that provide extra rewards on purchases made through a special link.
For example, you may receive an offer for 2 bonus points per dollar spent at a retailer, in addition to the rewards you already earn.
In order to earn the extra rewards, you must use the link provided through you card issuer's portal and pay with a qualifying credit card.
Eligible cards include the Chase Sapphire Preferred® Card and Chase Freedom Unlimited®.
Instant rewards
If you have a credit card that offers instant rewards, you can benefit from receiving an extra discount at checkout or after a payment posts. This is option is quicker than most rewards credit cards that issue cash back, points and miles each billing cycle.
The Target RedCard™ offers a 5% discount at checkout on most purchases in-store and at Target.com. When paired with Target Circle offers (up to 50% off) and holiday deals, you can maximize your savings.
The Apple Card offers Daily Cash, which deposits into your Apple Cash balance every day once a payment posts. Daily Cash can then be used to pay your bill or pay for purchases at stores that accept Apple Pay.
Redeem rewards
If you want to minimize the amount you spend on a gift for yourself, this can be a good time of year to consider redeeming credit card rewards. You can redeem rewards for gift cards, merchandise, cash (as a deposit into a bank account), travel and more. This is a great way to potentially give yourself a free gift.
Some cards even offer bonus rewards if you redeem through travel portals. The Chase Sapphire Preferred offers 25% more value on points redeemed for travel via Chase Travel℠.
Looking for a new credit card? Check out the best credit cards for Black Friday and Cyber Monday shopping.
Information about the Target RedCard™ and Apple Card, has been collected independently by Select and has not been reviewed or provided by the issuer of the cards prior to publication.
