While the holiday season is often an exciting and festive time of year, the pressure of gift-giving can oftentimes put added strain on your wallet.
Whether you're shopping for more expensive items or just have more people to buy for this year, there are a few things you can do this holiday season to find deals and save money on gifts. Below, CNBC Select offers some advice on saving as much money as possible on gifts.
Scouring deals
If you're looking to save money, make it a habit to check your favorite retailers for deals and sales. The editors at NBC Select do this for a living, and have already assembled up-to-date gift guides to help you find that perfect present for the right price.
Take advantage of price matching
With price matching, retailers offer to match prices on identical items found at other retailers.
Between Nov. 7 and Dec. 24, Target will price match goods purchased online or in-store. In order to receive the price match, you'll need to provide proof of a lower price by showing the original ad or the retailer's website.
Walmart also has a price matching policy that's offered all-year around. This is applicable to items purchased online or in-store.
Use coupons and shopping portals
While receiving coupons in the mail may seem antiquated, consumers can still easily get access to promotions, discounts and coupons online. With services like Ibotta and Capital One Shopping, you simply have to download a browser extension to start saving money on your purchases.
Ibotta may be a good choice if you're interested in earning cash-back on everyday purchases, like groceries, too. Ibotta can be used to earn cash-back at select online and in-store retailers and can be linked to select loyalty programs. And once you earn $20 in cash back, you can redeem it as a direct deposit into your bank account, through PayPal.
Ibotta
Cost
Free
Cash back
Yes
Coupon codes
Yes
Price comparison
Yes
Mobile app
Yes
Works with in-store purchases
Yes
Welcome bonus
None
How to redeem your savings
Redeem cash back once you reach $20 as a deposit into your bank account, PayPal account or for gift cards.
Terms apply.
Pros
- Offers at over 300 participating retailers
- You can activate savings, then shop and save on in-store purchases
Cons
- You can only redeem cash back after you reach $20
- The browser extension is only available on Google Chrome
- After 180 days without redeeming an offer, your account is charged $3.99 for every 30 days of inactivity
Capital One Shopping is another shopping browser extension offering features like coupon codes scanning, price comparison and rewards. It's available as both an app and a web browser extension, and you don't need to be a Capital One account holder to sign-up. Like Honey, Capital One will scan your shopping cart at an online retailer to determine if there are any applicable coupon codes. It also has a price comparison feature, so you can see how the price of goods stacks up at different retailers. Plus, you may earn rewards through Capital One Shopping which you can redeem for gift cards at a variety of retailers.
Capital One Shopping
Cost
Free
How to save
Earn Capital One Shopping Rewards on eligible purchases, automatic coupons and price comparisons.
How to use it
Download the Capital One Shopping app or install the browser extension.
How to receive your savings
Capital One Shopping Rewards can be used to purchase gift cards.
Terms apply.
Use the right credit card
No matter where you're shopping this holiday season, you'll want to have a credit card that earns you travel rewards or cash back for your spending. To earn even more rewards, consider using a card that earns bonus rewards at your preferred retailer or sign up for a new card that has a sizeable welcome bonus.
The Chase Sapphire Preferred® Card (see rates and fees) not only comes with a sizeable bonus offer for new cardholders, but it also earns an impressive rate of rewards points for common expenses such as dining, select streaming services and eligible online grocery orders.
The Chase Sapphire Preferred® Card packs a punch for a $95 annual fee card, offering annual travel credits, comprehensive travel protections and more.
- You can transfer rewards to all of Chase's travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Long list of travel and shopping protections
- $50 annual Chase Travel hotel credit
- Has an annual fee
- Requires a high credit score
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase TravelSM, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
- Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase TravelSM
- 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
If you're an avid shopper at Amazon and already have a Prime membership, you may consider getting the Prime Visa (see rates and fees). Cardholders earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership.
The Prime Visa is only available to Amazon Prime members ($139 for an annual membership and $14.99 for a monthly membership) but is very rewarding for Amazon purchases.
- High rate of return at Amazon and Whole Foods
- Easy-to-earn welcome bonus
- Requires an Amazon Prime membership
- If you choose the promo APR you won't earn rewards on those purchases
Rewards
- Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership
- Unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare)
- 10% back or more on a rotating selection of items and categories on Amazon.com with an eligible Prime membership
- Unlimited 1% back on all other purchases
Balance transfer fee
Either $5 or 4% of the amount of each transfer, whichever is greater
No matter what card you use to earn points, you should strongly consider redeeming your rewards for the holiday season. Whether it's in the form of a statement credit, gift cards or travel expenses, taking advantage of your credit card rewards can help reduce the financial (and emotional) stress of the holidays.
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