And The Best Credit Cards For Holiday Spending Are ...

Photo: Chase

CardHub, a credit cards review site, released its annual list of cards for holiday savings today.Typically, consumers who consider applying for a card do so for one of four reasons, says the site: 1. “to lower the holiday spending tab by getting the card with the highest rewards bonus,” 2. perform a balance transfer to ease cash flow and put off having to pay back interest and debt, 3. open a 0% interest card to buy more time to pay off holiday purchases, and 4. earn rewards that will benefit the shopper year-round and beyond.

“Even before the Great Recession, I cannot recall a time when the credit card deals and offers were as lucrative as they are this holiday season,” said Card Hub’s CEO Odysseas Papadimitriou in a statement. 

Here’s a look at the best card in each category:

Chase Sapphire Preferred Card (rewards points): With no annual fee and an initial bonus of 50,000 points, rewarded after spending $3,000 in the first three months of opening the card, this card is all about loyalty. Points can be redeemed for real cash ($500), which can then be issued by check or credited to your checking account.

Citi Platinum Select MasterCard (balance transfer): A 0% introductory APR that lasts for 21 months provides plenty of leg room for cash-strapped shoppers. There’s no annual fee and the balance transfer fee is only 3%.

Citi Dividend World MasterCard (0% on purchases): Within the first three months of opening the card, you’re eligible to receive $100 back after making $500 worth in purchases. There is 0% interest for the first 15 months, plus 5% cash back on toy, clothing and department store purchases. Cardholders get 1% cash back on everything else.

Capital One Venture Rewards Credit Card (ongoing rewards): For frequent fliers, the card offers two miles for every dollar spent daily, not to mention preferred access to top-tier sporting events, complimentary concierge and travel upgrades, plus an initial $100 sign-on bonus. There is no annual fee for the first year; after that, the card costs $59 per year.

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