Are you tired of buying gift cards for friends and family with mediocre added benefits or worse, no added benefits at all? Well, fret not, because Flik Eco has got you covered! Finding the best credit card for gift cards can be a hassle, but we've sifted through the options and picked out the top contenders for your shopping needs. Get ready to earn rewards and make gift-giving more satisfying with these stellar credit card options!
Best Credit Card For Gift Cards Table of Contents
Factors to Consider
When selecting a credit card to maximize gift card purchases, you should take these factors into consideration:
- Reward rates: Look for a card that offers the highest rewards when you purchase gift cards.
- Annual fee: Sometimes a higher annual fee is worth it if you can accumulate more rewards on gift card purchases. Weigh the pros and cons before making a decision.
- Perks & Benefits: Beyond gift card rewards, check out other perks and benefits that come with the card, such as travel rewards, cashback, and more.
- Redemption options: Make sure the card allows you to redeem your rewards in a convenient and flexible manner.
Top Credit Cards for Gift Card Purchases
With those factors in mind, here are the top contenders for your next go-to credit card for gift card purchases:
1. American Express Blue Cash Preferred
- Earn 6% cashback at U.S. supermarkets (up to $6,000 per year, then 1%)
- Earn 3% cashback at U.S. gas stations and transit expenses
- Earn 1% cashback on other purchases
- Annual fee: $95
2. Chase Freedom Unlimited
- Earn 5% cashback on travel purchases made through Chase Ultimate Rewards
- Earn 3% cashback on dining and drugstore purchases
- Earn 1.5% cashback on all other purchases
- No annual fee
3. Capital One Quicksilver Cash Rewards
- Earn 1.5% cashback on all purchases
- No annual fee
- No foreign transaction fees
4. Citi Double Cash Card
- Earn 1% cashback on all purchases
- Earn an additional 1% cashback as you pay off the purchases
- No annual fee
Best Credit Card For Gift Cards Example:
Let's say you're an avid gift card purchaser, and you plan to buy $1,000 worth of gift cards throughout the year. Using the American Express Blue Cash Preferred, you could earn up to 6% cash back on $1,000 in gift card purchases at U.S. supermarkets, which would equal $60 in rewards. These rewards could then be redeemed towards statement credits, gift cards, or other rewards.
Of course, in this example, you would need to factor in the $95 annual fee. If you purchase other items with the card that also gets high cashback rewards, this card could still come out ahead compared to others on the list with no annual fee.
Who knew gift card shopping could be so rewarding, right? By selecting the best credit card for gift card purchases, you can effectively cash in on the generous rewards programs offered. So go ahead, splurge on those gift cards for your friends and family knowing you're racking up points for yourself! Don't forget to share this article with your friends and family who love gift cards as much as you do! And while you're at it, don't hesitate to explore more of Flik Eco's indispensable guides on personal finance, investments, and more. Happy shopping!
