What are the Best Credit Cards for Black Friday and Cyber Monday?

What are the Best Credit Cards for Black Friday and Cyber Monday?

To snag even a better deal on your Black Friday and Cyber Monday purchases, consider these top credit card picks for your holiday shopping.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Citi is an advertising partner

As 2020 comes to a close, the highly anticipated Black Friday shopping event will look far from ordinary. While Black Friday offers consumers tremendous discounts and offers, using the right rewards credit card could lead to even greater savings. With more Black Friday sales going virtual this year — leading up to Cyber Monday — we’ve chosen some of the best credit cards for this holiday season based on your shopping habits. We surveyed cards on ValuePenguin and on top issuer sites to pinpoint some of the most valuable options for different categories of use.

Before signing up for any card for a special occasion, such as Black Friday and Cyber Monday, be sure to consider the long-term effects of your actions. At the bottom of this page, you’ll find some important factors to consider when shopping around for a card this holiday season.

Best Credit Cards for Black Friday

Recommended cards
Best for
Annual fee
Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit CardAll-purpose spending$0
Apply Now
  • On Capital One's Secure Website
unavailable credit card
Bank of America® Customized Cash Rewards credit cardRotating spending$0
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® CardEarning a big welcome bonus$95
Apply Now
  • On Chase's Secure Website
Chase Freedom Flex℠
Chase Freedom Flex℠Cyber Monday and online Black Friday sale$0
Apply Now
  • On Chase's Secure Website
American Express® Gold Card
American Express® Gold CardPurchase protection on expensive purchases$250
Apply Now
Recommended cards
Annual fee
Capital One Quicksilver Cash Rewards Credit Card
Apply Now
  • On Capital One's Secure Website
Bank of America® Customized Cash Rewards credit card
Chase Sapphire Preferred® Card
Apply Now
  • On Chase's Secure Website
Chase Freedom Flex℠
Apply Now
  • On Chase's Secure Website
American Express® Gold Card
Apply Now

Best for all-purpose spending

Capital One Quicksilver Cash Rewards Credit Card

  • On Capital One's Secure Website

$0

15.49% - 25.49% (Variable)

Excellent/Good

  • One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 15.49%-25.49% variable APR after that
  • Pay no annual fee or foreign transaction fees

One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening.

The Capital One Quicksilver Cash Rewards Credit Card could be a fantastic go-to card for Black Friday and Cyber Monday shoppers who’ll be making purchases at a variety of different stores. The card offers a flat rate of 1.5% Cash Back on every purchase, every day — meaning no caps and no categories to worry about.

While other cashback cards may offer better long-term savings, the Capital One Quicksilver Cash Rewards Credit Card has a sign-up bonus that’s easily attainable — and could increase short-term savings for your holiday shopping. You can Earn a One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening. This comes out to a 40% rewards rate for the first $500 in purchases. With the card's $0 annual fee, you could come out with a win this Black Friday and Cyber Monday.

Long-term value: In the long run, other cashback cards outperform the Capital One Quicksilver Cash Rewards Credit Card. For example, the Citi® Double Cash Card – 18 month BT offer lets users Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. While the Citi® Double Cash Card doesn’t offer a cash sign-up bonus, you’ll get a far superior rewards rate in the long run. After you’ve charged and paid off more than $20,000 with this card, you’ll start to earn more with the Citi® Double Cash Card .

Highlights

  • 1.5% Cash Back on every purchase, every day
  • One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • $0 annual fee

Best for rotating savings

Bank of America® Customized Cash Rewards credit card

$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

The Bank of America® Customized Cash Rewards credit card is best for those who don’t want to feel limited to one bonus spending category. This card lets you earn 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases.

If you’re a planner, the 3% rewards rate could be incredibly valuable as you can change your categories to fit your spending needs. You can choose from the following categories each calendar month:

  • Gas
  • Online shopping
  • Dining
  • Travel
  • Drug stores
  • Home improvement and furnishings

As an example, for Black Friday and Cyber Monday, you could select online shopping to earn a lucrative 3% rewards rate with any merchant.

This card comes with a decent sign-up offer as well — earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. With a $0 annual fee, it could put you in the green not only for this holiday shopping season, but in the future, too.

Long-term value: Once the holiday season wraps up, changing up your bonus categories could be valuable for any time of the year. For example, if you have an upcoming vacation or are moving soon, you can switch the bonus to an appropriate category to maximize your spending. However, since the 2% and 3% bonus categories are limited to $2,500 each quarter, this may not be the best card for high spenders — you may exceed this maximum quicker than you expect.

Highlights

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases.
  • $0 annual fee

Best for earning a big welcome bonus

Chase Sapphire Preferred® Card

  • On Chase's Secure Website

$95

15.99% - 22.99% Variable

Excellent

  • Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.
  • Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 toward travel.
  • With Pay Yourself BackSM, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.

Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.

The Chase Sapphire Preferred® Card is highly-rated as a travel rewards credit card, with an impressive signing bonus: Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.

Big spender events such as Black Friday and Cyber Monday could be great opportunities to reach the spending minimum for sign-up bonuses — and the Chase Sapphire Preferred® Card offers a great sign-up bonus for cards with under $100 annual fees.

You can use the points earned with this card to book travel through the Ultimate Rewards portal with a 25% points redemption bonus or transfer them to 14 airline and hotel loyalty programs:

Airlines
Hotels
Air Canada AeroplanAer Lingus AerClubIHG Rewards Club
British Airways Executive ClubEmirates SkywardsMarriott Bonvoy
Flying Blue Air France KLMIberia PlusWorld of Hyatt
JetBlue TrueBlueSingapore Airlines KrisFlyer
Southwest Airlines Rapid RewardsUnited MileagePlus
Virgin Atlantic Flying Club

Long-term value: The Chase Sapphire Preferred® Card comes with a $95 annual fee, which means you have to be a solid spender to justify signing up for it. The card works best for individuals who spend big on dining and travel, as it awards 2 points per $1 in these categories. As long as you spend at least $5,000 annually on these categories combined, you’d be able to break-even.

Highlights

  • Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.
  • 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases worldwide
  • This card has has a $0 foreign transaction fee, making it great for use overseas.

Best for Cyber Monday and online Black Friday sales

Chase Freedom Flex℠

  • On Chase's Secure Website

$0

14.99% - 23.74% Variable

Excellent/Good

  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Earn 5% on Chase travel purchased through Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.

Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

The Chase Freedom Flex℠ Card is one of the best cashback cards out there, with rotating bonus categories that change quarterly. You’ll Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.

This is the cashback calendar for 2021:

January-March
April-June
July-September
October-December
Gas stations, internet, cable, phone services and select streaming servicesGas stations and home improvement storesGrocery Stores (excluding Walmart and Target) and select streaming servicesTBD

Like most of the cards that made our list of "Best Credit Cards for Black Friday," the Chase Freedom Flex℠ comes with a generous welcome bonus that can easily be attained this holiday shopping season. New cardmembers can Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

Long-term potential: Even after Black Friday and Cyber Monday are over, the Chase Freedom Flex℠ remains one of the top cashback credit card options available. The only caveat is that cardholders must keep track of the changing cashback bonus categories and activate them online every three months.

Highlights

  • Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

Best for purchase protection

American Express® Gold Card

$250

See Pay Over Time APR

Excellent/Good

  • Rose Gold is back. You can now choose between Gold or Rose Gold.
  • Earn 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months.
  • Earn 4X Membership Rewards® Points at Restaurants, including takeout and delivery, and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
  • Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
  • $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth's Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
  • Get up to 12 complimentary months of an Uber Eats Pass subscription when you enroll with your Gold Card by 12/31/21.
  • No Foreign Transaction Fees.
  • Annual Fee is $250.
  • Terms Apply.

Earn 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months.

The American Express® Gold Card is a premium card for top spenders, offering an excellent rewards rate on food and travel purchases. It also comes with a top welcome bonus offer: Earn 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months. Combining everyday expenses with Black Friday and Cyber Monday purchases, you should be able to lock in this welcome bonus with ease.

Best of all, the American Express® Gold Card comes with purchase protection — providing immense value for any costly purchases you make on Black Friday or Cyber Monday. By using your American Express® Gold Card, your purchase will be protected up to 90 days from the date of purchase. In the event of any damage, loss or theft, you may be eligible to receive up to $10,000 per covered purchase, for a total of $50,000 per calendar year.

Long-term potential: The American Express® Gold Card offers bonus points for several valuable categories, but it also comes with a considerable annual fee of $250 per year. And although it comes with yearly dining and hotel statement credits that help offset this cost, you’ll still want to evaluate whether it’s worth keeping in your wallet.

Highlights

  • Earn 4X Membership Rewards® Points at Restaurants, including takeout and delivery, and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X), and 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com. Terms apply.
  • 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months.
  • Terms apply.

For rates and fees of American Express® Gold Card, please click here.

Credit card tips for Black Friday

Before signing up for a credit card, consumers should always be mindful of the long-term implications. You should ask yourself the following questions:

Will having the card make financial sense after Black Friday?

While one card may provide you with tremendous savings for Black Friday, you don’t want to end up having to pay an annual fee for that card — unless the value of the card offsets the fee for you. Most of the cards we’ve selected above come with no annual fee, which means that even if you open them for Black Friday, they won’t burn a hole in your wallet for the holiday seasons following.

In addition, individuals shouldn’t open an account and then close it immediately after collecting the rewards — this will harm your credit score and might take months or even years to recover from. Before committing to opening up a new credit card account, you should be comfortable keeping it around. As noted above, as long as the account doesn’t have an annual fee, keeping it open would be good for your credit score — assuming you pay your bills on time.

Can I afford to pay off my purchases at the end of the month?

Consumers who are thinking of getting a rewards credit card with the potential of carrying a balance and paying interest should reconsider. Making Black Friday purchases on a credit card that you can't pay off at the end of the month is generally a bad idea. The interest you pay — however small — will eat away at your credit card’s rewards and your Black Friday savings.

For example: Let’s assume you open up a credit card with an APR of 8% (close to 10 percentage points lower than the average credit card interest rate) and buy a $2,500 flatscreen TV that has been discounted to $2,000. Assuming you make $98 monthly payments towards that TV at the end of every month, it will take you about 22 months to pay off that purchase. By the end of this pay-off period, you’d have paid $156 in interest — bringing the total cost to $2,156.

Keep in mind, this is a simple example that doesn’t take into account life’s complexities. In reality, you may face other costs over those 22 months, putting a strain on your finances. If you are unable to make that nearly $100 monthly payment, you may end up paying over a longer period and owing much more interest. If you’re unable to pay at least the minimum amount due each month, you could rack up expensive fines and penalties and take a huge hit to your credit score.

We urge all readers to only charge their credit card with purchases they can pay off entirely at the end of the month. Otherwise, you put yourself at unnecessary financial risk.

ValuePenguin’s verdict

Although Black Friday and Cyber Monday follow Thanksgiving at the end of November, expect to see online sales much earlier this year. As the pandemic rages on, many in-store shopping events may be much more limited due to social distancing regulations. Nevertheless, owning a credit card that earns maximum rewards on shopping can help you save some cash this holiday season. Above all, you’ll want to make sure that owning the card makes sense beyond these two shopping events.

For rates and fees of American Express® Gold Card, please click here.

The information related to Bank of America® Customized Cash Rewards credit card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).