December 2, 2022

Best Credit Cards For Cyber Monday

According to a November 2022 survey by Bankrate, 66 percent of holiday shoppers say they…

Best Credit Cards For Cyber Monday

According to a November 2022 survey by Bankrate, 66 percent of holiday shoppers say they are likely to shop on Cyber Monday this year, even more than those who plan to participate in Black Friday (56 percent). The National Retail Federation (NRF) even reports that, during the five-day period from Black Friday to Cyber Monday last year, nearly 180 million people shopped for holiday purchases.

If you plan to do some of your holiday shopping online for Cyber Monday this year, you should strive to use a credit card that offers the rewards and perks you want the most. While you can definitely use a rewards credit card to earn cash back or flexible points for each dollar you spend, some of the best credit cards for Cyber Monday offer a 0 percent APR on purchases, balance transfers or both for a limited time.

Best credit cards for Cyber Monday 2022

Amazon Prime Rewards Visa Signature Card* $150 Amazon.com gift card upon account approval 5% back at Amazon.com and on Whole Foods Market with eligible Amazon Prime membership, 2% at restaurants, gas stations and drugstores and 1% on other purchases N/A $0 Amazon shoppers
Discover it® Cash Back With Cashback Match, Discover will match all your rewards at the end of your first year 5% cash back after activation on rotating categories each quarter (up to $1,500 in purchases, then 1%) and 1% on other purchases 0% intro APR on purchases and balance transfers for the first 15 months, followed by a variable APR of 14.99% to 25.99% $0 Rotating categories
Chase Freedom Flex℠ $200 cash bonus after spending $500 within your first three months

 

Also earn 5% back on $12,000 spent at grocery stores the first year (then 1 percent back)

5% cash back on activated bonus category purchases each quarter (up to $1,500 in purchases, then 1%), 5% on travel booked through Chase Ultimate Rewards, 3% on dining and drugstore purchases and 1% back on other purchases 0% intro APR on purchases for 15 months, followed by a variable APR of 17.99% to 26.74% $0 Walmart.com and PayPal
Capital One QuicksilverOne Cash Rewards Credit Card None Earn an unlimited 1.5% back on every purchase None $39 Rewards for fair credit
Wells Fargo Active Cash® Card

 

$200 when you spend $1,000 within three months of account opening Earn an unlimited 2% cash back on all purchases 0% APR on purchases and balance transfers for 15 months, followed by a variable APR of 18.74% to 28.74% $0 Flat-rate rewards
Chase Sapphire Preferred® Card Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining, online grocery purchases and select streaming services and 2X points on all other travel purchases

 

Also, earn 5X points on Lyft rides through March 31, 2025.

 

None $95 Flexible rewards

Amazon Prime Rewards Visa Signature Card: Best for Amazon shoppers

Among Cyber Monday credit card deals, the Amazon Prime Rewards Visa Signature is an excellent choice for Amazon enthusiasts. This card gives you 5 percent back on Amazon.com and at Whole Foods Market (with an eligible Amazon Prime membership, otherwise, 3 percent), plus you get 2 percent back at restaurants, drugstores and gas stations and 1 percent back on other purchases,

There’s no annual fee required, but you need an Amazon Prime membership that costs $139 to get the full benefits of the card. Also, note that you get a $150 Amazon.com gift card immediately upon account approval, and you’ll get certain perks like purchase protection against damage or theft, extended warranties, roadside dispatch, lost luggage reimbursement and more.

Discover it Cash Back: Best for rotating categories

If you plan to shop at Amazon.com or make purchases with a digital wallet on Black Friday or Cyber Monday this year, then the Discover it Cash Back may be up your alley. Upon activation, this card offers 5 percent back in Discover quarterly bonus categories (up to $1,500 in purchases, then 1 percent), which include Amazon.com and digital wallet purchases for October through December 2022.

You’ll also earn 1 percent back on all other purchases with no annual fee, and Discover will match all the rewards you earn after the first year. This means that, if you earn $300 in bonus cash back during year one, Discover will match that amount, equal to $600.

Another perk to be aware of includes 0 percent intro APR on purchases and balance transfers for 15 months, followed by a variable APR of 14.99 percent to 25.99 percent.

Chase Freedom Flex: Best for Walmart.com and PayPal

The Chase Freedom Flex offers so many bonus categories it’s hard to keep track, and it can be immensely rewarding if you plan to do some of your holiday shopping at Walmart or using PayPal this year. Once you sign up, you can earn 5 percent back on activated bonus category purchases each quarter (up to $1,500 in purchases, then 1 percent), 5 percent back on travel booked through Chase Ultimate Rewards, 5 percent cash back on grocery store purchases (not including Target or Walmart purchases) on up to $12,000 spent in the first year, 3 percent back on dining and drugstore purchases and 1 percent back on everything else. For the final quarter of 2022, the 5 percent Chase Freedom categories include purchases made at Walmart.com or using PayPal.com.

This card also stands out due to its exceptional welcome bonus, which is relatively easy to earn. New cardmembers can earn a cash bonus of $200 when they spend just $500 within three months of account opening. Other benefits that can help protect Cyber Monday purchases include extended warranties and purchase protection against damage or theft. This card also doesn’t charge an annual fee.

Capital One QuicksilverOne Cash Rewards Credit Card: Best for rewards with fair credit

If you want to earn rewards but you only have “fair” credit, then using the Capital One QuicksilverOne for Cyber Monday makes a lot of sense. There’s no welcome bonus, but you’ll earn an unlimited 1.5 percent back on all of your purchases. This card charges a $39 annual fee, but you can get approved with a credit score in the 580 to 669 range.

On top of earning rewards for purchases, cardholders who are looking for a higher line of credit can potentially qualify within six months with on-time payments.

Wells Fargo Active Cash Card: Best for flat-rate rewards

The Wells Fargo Active Cash Card is an excellent choice for holiday shopping if you prefer to earn flat-rate cash back instead of dealing with bonus categories. This card doesn’t charge an annual fee, yet you earn a flat 2 percent cash back on everything you buy. In the meantime, new cardholders can earn a $200 cash bonus after spending $1,000 on new purchases within three months of account opening.

Another benefit of this card is its 0 percent intro APR offer, which applies to purchases and balance transfers for the first 15 months. A variable APR of 18.74 percent to 28.74 percent applies thereafter.

Chase Sapphire Preferred® Card: Best for flexible rewards

If you want to earn flexible rewards, the Chase Sapphire Preferred is easily one of the best credit card deals for Cyber Monday. It starts new cardholders off with 60,000 points when you spend $4,000 within three months of account opening. You also earn 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining, online grocery purchases and select streaming services and 2X points on all other travel purchases, plus 1X points on other purchases. When you go to redeem your rewards, you can cash them in for merchandise, gift cards, statement credits, cash back, travel through the Chase portal or transfers to Chase Ultimate Rewards airline and hotel partners.

A $95 annual fee applies with this card, but you get perks like purchase protection against damage or theft, extended warranties, trip cancellation and interruption insurance, travel and emergency assistance services and more.

How to maximize your Cyber Monday credit card rewards

The best Cyber Monday credit card deals make it easy to rack up rewards for each dollar you spend online, but there are some steps you can take to boost your total rewards haul. Consider the following tips as you head online this year:

Use credit card shopping portals

First, check whether your credit card or loyalty program offers a shopping portal, which can help you rack up more rewards on your purchases. For example, Chase Ultimate Rewards lets you “click through” the Chase portal when you shop online, after which you’ll earn extra points at select retailers like Macy’s and Best Buy.

Most airline loyalty programs also have shopping portals that let you log into your loyalty account and earn more miles when you shop online. For example, the Delta SkyMiles Shopping portal lets you earn bonus miles when you make purchases at participating retailers such as Sephora, Kohls or Shutterfly.

And remember, shopping portal rewards are given out on top of the points you earn with your credit card.

Maximize bonus categories

Make sure you’re maximizing your credit card’s bonus categories or even using different cards for different types of purchases. If you have a credit card that offers more rewards on dining, for example, then consider ordering dining gift cards online and giving them as holiday gifts.

Some restaurants are even offering extra incentives for gift card purchases this year. With Outback Steakhouse this holiday season, you’ll get a $10 bonus gift card for each $50 in gift cards you order.

Earn a new credit card welcome bonus

Finally, consider signing up for a new credit card you can use for online shopping this year, even if you don’t quite have time to get one before Black Friday or Cyber Monday. Doing so can help you qualify for a new sign-up bonus as you shop for the holidays during the first few months after account opening, and this bonus could be worth $500 or more when you meet a minimum spending requirement.

If you need a credit card now and can’t wait for one to arrive in the mail, also consider instant-use credit cards or credit cards that extend virtual account numbers upon approval. As an example, many American Express credit cards come with an instant card number that lets you charge purchases right away after your new account is approved.

Where to find limited-time offers for Cyber Monday

When it comes to finding the best Cyber Monday deals, you would be wise to keep an eye on your mail and your email. Sign up for mailing lists for stores you plan to shop with this year and make sure to follow your favorite retailers and brands on social media.

Also, check with your credit cards and online account management pages for the best Cyber Monday deals of 2022. Some issuer-specific offers are also available this year, including the following:

  • Discounted gift card redemption options through Chase Ultimate Rewards
  • Rotating category bonuses through cash back cards like the Chase Freedom Flex and the Discover it Cash Back
  • Deals extended through Amex Offers and Chase Offers, which can help you score discounts or earn bonus points on purchases
  • Merchant offers from Capital One, which can help you score savings as you shop with your Capital One credit card

The bottom line

Credit card offers for this year’s Black Friday and Cyber Monday shopping events are as lucrative as ever, so make sure to have a card lined up before you hop online to shop. And if you don’t have one yet, make sure to compare all the top rewards credit cards on the market today. With some research, you can get a card that lets you maximize your rewards and cardholder benefits all year long.

* All information about the Amazon Prime Rewards Visa Signature Card has been collected independently by Bankrate.com and has not been reviewed or approved by the issuer.