The Best Credit Cards for Holiday Shopping 2020




The holiday shopping season is now in full swing! Between presents, food, and decorations, (we’re looking at you, Clark Griswold!) many of us rely on credit cards to cover increased spending this time of year. In fact, reports show that over 70 percent of shoppers will use a credit card for their holiday purchases. The good news is that with the right holiday shopping credit card, you can earn rewards, access exclusive discounts, and even improve your credit score along the way!

So, what are the best credit cards for holiday shopping? It really depends on how you like to shop. If you prefer to stick with one store for all of your purchases, a store rewards credit card paired with a balance transfer credit card is the way to go. However, if you tend to shop around at multiple stores, a cash back credit card will be your best bet this holiday season. 

No matter your shopping style, Piggy has you covered! We’ve put together a list of the best credit cards for Christmas shopping, so you can increase your savings and get the most out of every purchase. Plus, with regular Piggy coupons and cashback offers, there are plenty of ways you can celebrate the season of giving, stick to your budget, and treat yourself to some much-deserved rewards.

Check out even more Piggy holiday shopping tips here!

credit cards in the wallet

The Best Store Credit Cards for Holiday Shopping 

Store-branded cards don’t always get the credit that they deserve. Especially if you have a ride or die store where you love to shop, a store credit card, like the Amazon Prime VISA card, or the TargetRED Card, can be the best credit card for the holidays! Besides offering high-rate rewards, many store credit cards come with added benefits, like welcome bonuses, members-only discounts, free shipping, and extended returns. 

One important thing to note before signing up for a store credit card is the difference between open-loop and closed-loop credit cards. With open-loop store credit cards, you can make purchases just about anywhere and rack up even more rewards while you shop. Closed-loop store credit cards can only be used at the issuing store or at stores that fall under a company’s umbrella. That being said, since most store credit cards offer a higher rewards rate than general-purpose cards, you really can’t go wrong either way. 

When it comes to delivering rewards, these five store credit cards may give Santa Clause a run for his money. 

Amazon Prime Rewards VISA Card

  • 5% back on and Whole Foods purchases
  • 2% back at restaurants, gas stations, and drug stores
  • 1% back on everything else 
  •  $100 Amazon Gift Card welcome bonus upon approval
  • No annual fee 
  • Open-loop card 

Gap VISA Credit Card

  • 5 points for every $1 you spend at Gap brand stores, including Old Navy, Banana Republic, Athleta, and Hill City
  • $5 in Gap Rewards for every 500 points 
  • 10% off all Gap and Gap brand purchases
  • Free shipping with members-only code MYCARD
  • No annual fee
  • Open-loop card

Target REDcard

  • 5% discount on eligible Target and in-store Starbucks purchases, including select gift cards
  • $40 off Target coupon upon when you are approved
  • 10% Target discount annually on your credit card anniversary
  • Free shipping on all orders 
  • No annual fee
  • Closed-loop card

Costco Anywhere VISA by Citi

  • 4% back on eligible gas purchases up to $7,000 annually, then 1% after that
  • 3% back on restaurants and worldwide travel purchases
  • 2% back at Costco 
  • 1% back everywhere else 
  •  No annual fee
  • Open-loop card

CapitalOne Walmart Rewards Card

  • 5% back on all purchases made on or in the Walmart mobile app
  • 2% back on in-store purchases 
  • 2% back at restaurants and for travel purchases
  • 1% cash back everywhere else
  • No annual fee
  • Open-loop card

U.S. Bank VISA Platinum Card

The Best Balance Transfer Credit Cards for Holiday Shopping 

Wouldn’t it be a Christmas miracle if you could pay off your credit card balance interest-free? Spoiler alert – you can! Pairing the best holiday credit card from your favorite store with a good balance transfer credit card will not only save you money, but it will also help you pay off your balance quickly. 

Here’s how it’s done – after you’ve earned all those incredible rewards with your store credit card, transfer the balance to a credit card with a 0% APR period. Most balance transfer credit cards offer a 0% APR period of 18 months, which means you have over a year to make interest-free payments on your holiday expenses. However, we highly recommend only charging what you can afford to pay off within the 0% APR period so that you don’t end up paying interest charges over time. 

Here are three of the best balance transfer credit cards for Christmas shopping:

U.S. Bank VISA Platinum Card

  • 0% APR for 20 billing cycles on balance transfers and purchases
  • No annual fee
  • 3% balance transfer fee
  • Variable APR of 13.99% to 23.99% 

Citi Double Cash Card

  • 0% APR for 18 months on balance transfers
  • 2% cash back on all purchases (1% when you make a purchase, 1% when you pay it off)
  • No annual fee
  • 3% balance transfer fee
  • Variable APR of 13.99% to 23.99% 

Citi Diamond Preferred Card

  •  0% APR for 18 months on balance transfers and purchases
  • No annual fee
  • 3% balance transfer fee
  • Variable APR of 14.74% to 24.74% 

Read Our Guide to the Best Balance Transfer Credit Cards

Chase Freedom Flex Credit Card 

The Best Cash Back Credit Cards for Holiday Shopping 

If you’re the kind of holiday shopper who likes to search multiple stores to find the best deal, then a good old-fashioned cash back credit card will be your best option. With a cash back credit card, you have much more flexibility as far as where you can earn credit card rewards for holiday shopping and where you can redeem them as well. 

While some cash back credit cards offer a flat rewards rate on all purchases, most will have rotating categories that change every few months with a rewards rate of up to five percent. You will need to manually activate the rewards category each time, so keep an eye out for categories where you tend to spend the most and special holiday credit card promotions. 

With these three holiday credit card offers, you can earn as much as five percent cash back on groceries, gifts, travel, and more! 

Chase Freedom Flex Credit Card 

  • 5% cash back on grocery store purchases (excluding Walmart and Target) up to $12,000 in the first year
  • 5% cash back up to $1500 in bonus categories each quarter
  • 5% cash back on travel, 3% at restaurants and drugstores, and 1% everywhere else
  • $200 bonus when you spend $300 in the first three months of opening your account
  •  No annual fee

Discover it Cash Back Credit Card

  • 5% cash back up to $1500 every quarter in rotating categories like gas stations, wholesale clubs, grocery stores, and Amazon.
  • 1% cash back on everything else
  • Discover will automatically match every dollar you earn back in your first year
  • No annual fee

Bank of America Cash Rewards Credit Card

  • 3% cash back in a category you choose each month
  • 2% cash back at grocery stores and wholesale clubs
  • 1% cash back everywhere else
  • $200 rewards bonus when you spend $1000 in the first 90 days of opening your account
  • No annual fee

Check Out Our Full Breakdown of Cash Back Credit Cards

money billes

Money-Saving Tips for Smart Holiday Shopping 

Along with using a good holiday shopping credit card, here are a few helpful tips that can take your savings to the next level!

  1. Create a budget – When you make your holiday shopping list, set a specific budget for each person or category to hold yourself accountable and prevent overspending. 
  2. Do your research – Compare prices between different stores, and be sure to check out Black Friday ads and other holiday promotions to find the best deals possible. 
  3. Protect your purchase – Since e-commerce will be at an all-time high this holiday season, always remember that credit cards offer more fraud protection than debit cards for online purchases.
  4. Don’t forget to price match— Especially if you plan on making any big purchases this year, check the store’s policies to see if they offer a price match guarantee. This way, you can shop knowing you’ll get the best price possible no matter what. Here’s a great list of 16 stores that price match to get you started.
  5. Combine rewards – The only thing better than earning rewards while you shop, is earning rewards for stuff you bought on sale! Take advantage of holiday deals at popular stores, online discounts and site-wide sales, and Piggy coupons to increase your savings.

Discover More Frugal, Festive Holiday Shopping Ideas Now


Disclaimer: Opinions expressed here are the author’s alone, not those of any bank or credit card issuer, and have not been reviewed, approved or otherwise endorsed by any of these entities. It is intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.

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