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With Black Friday, Cyber Monday and the holidays just around the corner, you're probably gearing up to shop for gifts for friends and family. The holiday season can be expensive for most people, but if you're shopping at major retailers you can easily save some money by using the right credit card or enrolling in free online rebate programs.
CNBC Select looked at dozens of credit cards to find the best card to use when shopping at Walmart for Black Friday. Here's what you need to know before you shop online from the comfort of home or in person and brave the Black Friday crowds.
Check out all the best Black Friday deals updated in realtime at NBC Select.
Walmart Black Friday sales: Here's how to pay
You can pay for your Walmart purchases in a variety of ways such as with a credit card, debit card, cash, gift card or now, a 'buy now, pay later' loan. However, credit cards are one of the best options because they offer rewards and consumer protections.
Here are some of the best cards to use when shopping Walmart's Black Friday Sales:
Best card for cash back
The Wells Fargo Active Cash® Card is great if you want simplicity thanks to its flat-rate 2% unlimited cash rewards on purchases and $0 annual fee.
- High, unlimited flat-rate return on purchases
- Intro APR on purchases and qualifying balance transfers
- Lower introductory balance transfer fee
- Up to $600 of cell phone protection against damage or theft (subject to a $25 deductible)
- Charges a 3% foreign transaction fee
- Balance transfer fee increases to 5% of each transfer (minimum $5) after 120 days
- Limited redemption options unless you pair it with a Wells Fargo card that allows point transfers
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
- Earn a $100 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 18.74%, 24.74%, or 28.74% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don't expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Balance Transfer Fee
3% intro for 120 days from account opening, then up to 5%, min: $5
Foreign Transaction Fee
3%
For people who want a card that earns cash rewards at retailers that are not just Walmart, the Wells Fargo Active Cash® Card is a good option because it offers a welcome bonus and has a solid, flat cash-rewards rate on all purchases. If you're planning on spending a lot this holiday season, you can cash in on the welcome offer of $100 cash rewards bonus after spending $500 in purchases in the first 3 months. You'll also get 2% unlimited cash rewards on all eligible purchases. The card has no annual fee.
Best cards for the welcome bonus
The Chase Freedom Flex® is an excellent cash-back card with generous rotating quarterly categories. In additional the rewards, you also can take advantage of the intro APRs for purchases and balance transfer for more than a year.
- Long intro APR for purchases and balance transfers
- Rewarding quarterly bonus categories
- No annual fee
- Bonus categories are capped each quarter
- Has a foreign transaction fee
Rewards
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%)
- 5% cash back on travel booked through Chase Travel℠
- 3% on drugstore purchases and on dining (including takeout and eligible delivery services)
- 1% cash back on all other purchases
Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
3%
If you're spending a lot more than you typically would this holiday season, a card with a generous welcome bonus could be a good choice for you. With credit cards, you typically only earn between 1% and 5% on your purchases. If you sign up for a new card with a welcome bonus, on the other hand, you have the chance to earn a lot more money upfront.
The Chase Freedom Flex® offers a $250 Bonus after you spend $500 on purchases in your first 3 months from account opening. That's like earning 50% cash back on $500. So instead of looking for a card that'll earn you cash back on certain spending categories, you might opt for a card with a welcome bonus and a spending requirement that you can hit without going beyond your means.
The Citi Strata Premier® Card has competitive rewards rates and unlocks access to all of the Citi ThankYou® transfer partners, which boosts the value of your points.
- Unlocks point transfers to all of the Citi ThankYou® partners, including Emirates Skywards, Choice Privileges, Flying Blue and more
- Generous bonus spending categories include dining, supermarkets, hotels and flights
- Valuable welcome bonus
- Has an annual fee
- Car rental coverage is secondary, not primary
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 60,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $600 in gift cards or travel rewards at thankyou.com.
- Earn 10 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on CitiTravel.com.
- Earn 3 Points per $1 on Air Travel and Other Hotel Purchases, at Restaurants, Supermarkets, Gas and EV Charging Stations.
- Earn 1 Point per $1 spent on all other purchases
- $100 Annual Hotel Benefit: Once per calendar year, enjoy $100 off a single hotel stay of $500 or more (excluding taxes and fees) when booked through CitiTravel.com. Benefit applied instantly at time of booking.
- No expiration and no limit to the amount of points you can earn with this card
- No Foreign Transaction Fees on purchases
Balance transfer fee
Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
If you're willing to get a card with an annual fee, you could get a much larger welcome bonus with the Citi Strata Premier® Card, is currently offering 60,000 ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening.
Though the redemption value varies, if you redeem the 60,000 points at thankyou.com for store gift cards like Target and Macy's, you can get $600 to spend which is a one cent per point redemption value. Or, you can transfer those ThankYou® points to travel partners and potentially receive significantly more value.
Best 0% APR intro period
The Wells Fargo Reflect® Card is one of the absolute best cards you can apply for if you want to save on interest and pay down debit quickly thanks to its extra generous intro-APR offer on purchases and qualifying balance transfers.
- Incredible intro-APR for purchases and qualifying balance transfers
- No annual fee
- Cell phone insurance: up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible
- No rewards
- No welcome bonus
- High balance transfer fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
- 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.74%, 24.24%, or 28.49% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.
- $0 annual fee.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
Balance transfer fee
5%, min: $5
Foreign transaction fee
3%
With a 0% introductory APR credit card, cardholders can revolve their balance on new purchases and/or balance transfers without paying interest. The introductory period typically lasts between 12 and 20 months. This means that you can make your holiday purchases now and wait to pay them off without interest and fees (as long you make the minimum monthly payment). However, you should remember that in order to qualify for a 0% APR credit card, you'll need a good (670-739) or excellent (740 and greater) credit score, so this isn't an option for everyone.
The Wells Fargo Reflect® Card is a great choice for people who need a longer repayment period: Cardholders will get an an introductory 0% APR on purchases and qualifying balance transfers for 21 months (then, 17.74%, 24.24%, or 28.49% variable APR) from account opening. Balance transfers made within 120 days from account opening qualify for the intro rate, BT fee of 5%, min $5. You won't get a welcome bonus or any rewards with this card, but it's a good option for those who want to carry a balance on their card without having to pay interest.
Shopping benefits to consider for Walmart Black Friday sales
Shopping portals and cash-back platforms
A shopping portal is offered by affiliates of a company to encourage customers to shop by offering them cash back or rewards. With shopping portals, you typically need to visit a website, download a browser extension or use an app to earn rewards for your purchases.
CashBackMonitor is one site that will show you which services you can use to earn the greatest amount of rewards when shopping at Walmart. All you have to do is click one of the options and then you'll be redirected to another website where you can sign up for the respective platform. Once you've signed up, all you need to do is click through the shopping portal to Walmart's website and then shop.
Rakuten is a free service that gives people cash back on certain Walmart purchases. Once you've downloaded the browser extension or the app, click through Rakuten before doing your normal shopping at Walmart. You can then redeem your rewards as cash through PayPal or as a check.
Another service you might consider using is Ibotta, a free cash-back and rebate platform. With Ibotta, you can also earn cash back on certain purchases by using the browser extension or by shopping in person or online through the app or the website.
Credit card shopping benefits
When buying gifts this holiday season, there's a chance your sweater arrives with a hole or your new watch doesn't work. If you end up needing to return an item or you receive a faulty product, credit cards are a great payment choice because some offer *purchase protection, *return protection and an extended warranty. A few cards that offer this benefit are the *American Express Platinum Card® and the Chase Sapphire Reserve® (see rates and fees).
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
Walmart+ membership
If you're planning on doing a lot of online shopping at Walmart.com, you might consider getting a Walmart+ membership. With Walmart+, members will receive unlimited free delivery on orders and discounts at select gas stations. The service costs either $98 a year or $12.95 a month, or you could try the 15-day free trial period.
But, if you pay for your Walmart+ membership with the American Express Platinum Card®, you'll receive a statement credit reimbursing you for the full cost every month. Plus Up Benefits are excluded and subject to auto-renewal. Up to $12.95 plus applicable taxes on one membership fee. Terms apply.
BNPL with Walmart
Walmart no longer offers its layaway program which allowed shoppers to pay for an item over time and then collect it once they had paid it off. However, Walmart partnered with Affirm to help customers finance their purchases. With Affirm 'Buy Now, Pay Later' loans, Walmart shoppers can split the cost of their purchase into installment payments due over three to 12 months, depending on the cost of the purchase. And unlike layaway, consumers can get their purchase before they've paid it off in full.
However, with Affirm, you could end up spending more on interest than you would with a traditional credit card: Interest rates range from 10% to 36%, but some items may have a 0% promotional APR offering. Affirm does not charge late fees.
If you're considering using a BNPL loan, you should make sure to read the terms and conditions of your loan. You'll want to check the interest rate, when the payments are due and whether Affirm will report your loan to the credit bureaus.
Affirm does not report loans to Experian that are 0% APR and four bi-weekly payments or if consumers were offered one loan option of a three-month payment term with 0% APR. Short-term BNPL loans could harm your credit score regardless of whether you're paying them off in full and on time, so make sure you understand how a BNPL loan could affect your credit score and how much it could cost you in interest.
Bottom line
Due to potential supply chain issues and shipping delays this holiday season, it's best to get a head start on gift shopping. With a credit card, you have the potential to earn a welcome bonus and rewards on your purchases and also benefit from purchase protection and an extended warranty. The holiday season might be a big spending period for you, but there's no reason you can't save some money in the process.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card guide is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best credit cards for Walmart.
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