Capital One cash advances might be useful in a pinch, but there are probably cheaper ways to get access to cash.

If you need cash quickly — say to pay a housing deposit for a last-minute move or catch up on a bill that’s past-due — it can be incredibly stressful. In high-stress money situations, it’s tempting to look for the quickest solution. That’s why some people turn to credit card cash advances, which are essentially short-term loans from a credit card.

You can get a Capital One cash advance at ATMs or at bank locations displaying a Visa or Mastercard logo, withdrawing the cash in the same way you would with a debit card. But because credit card cash advances are short-term loans from your credit card company, they involve fees and accrue interest.

The process of getting a cash advance might be simple, but the fees are often hefty and can add up quickly. So you may want to consider other options if you need cash.

Let’s take a look at the ins and outs of a Capital One cash advance.

• How to get a Capital One cash advance
• Fees and other potential pitfalls
• Consider these alternatives to cash advances

How to get a Capital One cash advance

The process of getting a Capital One cash advance is straightforward, and you can get as many cash advances as you need as long as you stay within your available cash advance limit.

1. Know your limit. The first step is to make sure that you know your cash advance limit, which is different from (and usually less than) your credit limit. You can find it through your most recent credit card statement, labeled as “Available Credit for Cash Advances.”

2. Find your PIN. If you plan to get the cash advance from an ATM, you’ll need your personal identification number. The PIN is specific to your Capital One credit card. If you’re not sure what it is or you need to reset it, log in to your account online and reset it via “More Account Settings,” or call 1-800-227-4825.

If you don’t have a PIN, you can still get a cash advance from a physical bank, as long as it displays a Visa or Mastercard logo, but you’ll need a government-issued ID, like a driver’s license, and your Capital One credit card.

3. Choose your ATM. You can get a cash advance from an ATM. In other words, you don’t need to visit a Capital One ATM to get a cash advance. But it’s important to note that there might be extra ATM fees involved.

4. Get the cash advance. Once you get to the ATM, insert your credit card and enter your PIN. Then select the option for cash advance and choose an amount within your available cash advance credit limit. Keep in mind that the ATM could have other limits on what you can withdraw.

Fees and other potential pitfalls

Like most loans, cash advances accrue interest and come with extra fees. Even though credit card purchases may have fees and accrue interest as well, it works a little differently for cash advances thanks to their loan-like nature.

Fees

For almost all Capital One credit cards, you’ll pay a cash advance fee of either $10 or 3% of the amount of the cash advance (whichever one is greater).

Here’s how that would work. Say you get a cash advance of $100. You’d pay a $10 fee, since $10 is greater is than 3% of the total amount (which would be $3). Now imagine that you got a $500 cash advance instead. You’d pay a cash advance fee of $15, which is 3% of $500.

Depending on the amount of your cash advance, the fees can be costly.

Cash advance APR

The APR for cash advances is often higher than the APR for purchases. For Capital One credit cards, the variable APR for purchases ranges from around 13.9% to 24.9%. But the variable APR for cash advances is at the upper end of that range, at 24.9%. Plus, Capital One begins charging interest on the date of the cash advance transaction. This means there’s no grace period. Instead, your cash advance begins to accrue interest immediately, which can really add up over time and make a cash advance an expensive “short-term loan” option.

Consider these alternatives to cash advances

Cash advances aren’t your only option if you need quick cash. In fact, you might be able to save money on fees and interest if you use your credit card to make the necessary purchase instead of for an advance. But if that’s not possible, here are some other choices to consider.

Personal loan

Even though Capital One doesn’t offer personal loans, there are lots of other lenders to choose from offering terms that might be more favorable than the terms of a cash advance. But it’s important to note that personal loans are not instant — it takes time to apply, get approval and receive the money — and a personal loan may still come with high interest rates, depending on the lender, the state of your credit and other factors.

Borrow from friends and family

If you’re facing an emergency and need cash, your friends and family might be able to help. Even if it isn’t your first choice, it’s probably a cheaper option, so it’s worth considering. But before borrowing from a friend or family member, think through all of the possible consequences.

Bottom line

If you’re in a true emergency, a cash advance might be a useful solution. But it’s important to crunch the numbers and make sure that the short-term solution of a cash advance isn’t going to cause long-term stress. But if the situation isn’t really an emergency, it’s better to wait until you can save up the cash in your checking account to avoid the debt altogether.

Compare Sallie Mae credit cards

There are three different Sallie Mae credit cards that each cater to a specific type of consumer. Sallie Mae Ignite℠ Mastercard® is for students, while Sallie Mae Accelerate℠ World Mastercard® is for college graduates who are paying student loans. And the Sallie Mae Evolve℠ card is for consumers who are looking to optimize cash back rewards. So while each card is designed for a specific customer, each one has unique pros and cons.

What you need to know about each card

Before you decide to apply for one of these Sallie Mae cash back credit cards, it’s important to understand the pros and cons of each card.

Sallie Mae Ignite℠

If you’re a student who is trying to build credit, then the Sallie Mae Ignite℠ Mastercard might be a good fit for you. The card offers 1% cash back for all purchases, and there’s no limit to how much you can earn.

The main feature of the Sallie Mae Ignite℠ Mastercard is that it rewards good personal-finance habits. Cardholders can earn a 25% bonus on their cash back rewards after making six consecutive on-time payments. Here are some other helpful features of this card.

• No annual fee
• An introductory 0% APR for 6 months from account opening on balance transfers made within the first 60 days and purchases (then a variable 17.24%–29.24% APR on both after that)
• Balance transfer fee of 3% ($5 minimum)
• Cellphone protection (up to $600 per claim) for card members who pay their cellphone bills with the Sallie Mae Ignite℠

Overall, the Sallie Mae Ignite℠ Mastercard has useful perks. And with the 25% cash back bonus, students might be incentivized to form good financial habits.

Sallie Mae Accelerate℠ World Mastercard®

If you’re a graduate who is trying to pay off student loans, you may be intrigued by the Sallie Mae Accelerate℠ World Mastercard® — but you might end up earning more cash back rewards with a regular cash back credit card.

Like the Sallie Mae Ignite℠ Mastercard, the Sallie Mae Accelerate℠ World Mastercard® focuses on rewarding good financial behavior by offering a bonus on cash back earnings for college graduates who are making payments on their student loans. This card offers 1.5% cash back on all purchases, and there’s no limit to how much you can earn.

In addition, the card offers a bonus on all cash back rewards used to pay down student loans — your cash back redemption rate for student loans is worth 2%. It’s important to note that the bonus is only for rewards used to pay student loans (if you just use your credit card to pay your loans, you don’t get a bonus for it). This cash back bonus reward is minimal, so you’re probably better off setting up auto pay on your student loans to get an interest-rate deduction (if offered by the lender or loan servicer) or using a different credit card with higher cash back rewards.

The other features of this card are similar to the Sallie Mae Ignite℠ Mastercard and include …

• No annual fee
• An introductory 0% APR for 15 months from account opening on balance transfers made within the first 60 days and purchases (then a 17.24%–29.24% variable APR after that)
• Balance transfer fee of 3% ($5 minimum)
• Cellphone protection (up to $600 per claim) for card members who pay their cellphone bills with the Sallie Mae Accelerate℠ World Mastercard®

Sallie Mae Evolve℠

Unlike the other Sallie Mae credit cards, the Sallie Mae Evolve℠ credit card isn’t designed for a specific consumer — it’s a general cash back credit card that offers 1.25% unlimited cash back on every purchase and 25% extra cash back from your top two purchase categories each month.

That’s not a bad rewards rate, but you can probably find a card with a better cash back rate. Here are some other features this card offers.

• No annual fee
• An introductory 0% APR on purchases for 15 months from account opening (then a 17.24%–29.24% variable APR after that)
• Free FICO® credit score
• Cellphone protection (up to $600 per claim) for card members who pay their cellphone bills with the Sallie Mae Evolve℠ card

How to pick the right card for you

If you’re in the market for a student credit card, then the Sallie Mae Ignite℠ Mastercard might be worth considering. This is especially true if you’re trying to form good personal-finance habits and want to earn cash back rewards for your efforts.

Even though the Sallie Mae Accelerate℠ World Mastercard® attempts to reward good financial habits as well, the rewards are very specific to student loan payments. If you have student loans and want to pay them off quickly, you’re probably better off focusing on how to earn cash back with the highest rewards rate. But if you’re intrigued by the rewards offer and want to give it a shot, this credit card is solid. It’s just not the best.

The Sallie Mae Evolve℠ credit card is probably the weakest of the three credit cards. With no clear target audience, a lack of behavior-based rewards and a mediocre cash back rate, there’s nothing that sets this card apart from other cash back credit cards.

Updated October 29, 2021

This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Written by: Taylor Milam-Samuel

Pros

• Rewards system is simple and easy to use
• Banana Republic Luxe status offers dedicated shoppers perks like free shipping
• No annual fee

Cons

• Rewards can be redeemed only at certain Gap Inc. stores like Banana Republic and Old Navy
• High purchase APR makes this card a risky choice for people who carry a balance
• Confusing application process means you might end up with a card that can only be used at Gap Inc. stores

What you need to know about Banana Republic credit cards

The application process is confusing

Even though the application itself is straightforward — you fill it out and then wait for a decision — the process is a little confusing.

In fact, your application covers more than just one credit card. When you apply for a Banana Republic card, you could be considered for two different credit cards: the Banana Republic Credit Card and the Banana Republic Visa Card.

We reached out to a representative from Synchrony Bank, which issues the Banana Republic cards. They told us that when you apply, Synchrony first considers you for the Banana Republic Visa Card. And if you don’t qualify for that card, you’re then considered for the Banana Republic Credit Card.

The Banana Republic Credit Card can be used only at Gap Inc. stores, which include Banana Republic, Gap, Old Navy and Athleta. But you can use the Banana Republic Visa Card anywhere that accepts Visa.

In other words, you may end up with a credit card that you can use only at very specific stores. This isn’t necessarily a bad thing, but it’s good to understand the difference before you apply.

If you do receive the Banana Republic Credit Card, be sure to use it responsibly. The card issuer may report information on card use to the three major consumer credit bureaus, so doing just that can help you build credit.

It’s simple to earn and use the rewards

The Banana Republic rewards system is straightforward and simple. You’ll earn five points for every $1 spent at certain Gap Inc. stores, which include in-store and online purchases from Banana Republic, Old Navy, Gap and Athleta. When you use the Banana Republic Visa Credit Card at other stores, you’ll earn one point for every $1 spent.

For every 500 points you earn, you’ll receive a $5 reward, which can be redeemed at certain Gap Inc. stores.

There’s no limit to how many points you can earn, but the largest amount of rewards issued in a single billing cycle is $250.

But rewards aren’t worth much unless you already shop at Gap Inc. stores

Even though the rewards are easy to understand, the truth is that you need to spend a lot of money to earn small rewards.

For example, you typically need to spend at least $100 at Gap Inc. stores to earn one $5 reward. If you use the Banana Republic Visa Credit Card when shopping at stores outside the Gap Inc. brand, you’d need to spend $500 to earn a $5 reward.

With a Banana Republic shirt costing upward of $60 at full retail, you may not need to buy dozens of items to earn your rewards. But one $5 reward also won’t drastically reduce the cost of any one item.

We don’t recommend changing your shopping habits just to earn more rewards, so don’t let the potential for savings push you toward making more purchases. These rewards are only worth it if you’d spend the money regardless of whether you had the credit card.

The APR makes it a risky choice

Store credit cards tend to feature high interest rates, and the Banana Republic Credit Card is no exception. With a variable APR of 25.99% on purchases, this card can quickly become expensive if you carry a balance. This might not seem like a big deal, but it could cost you hundreds or thousands of extra dollars.

Plus, the late-payment fees can go up to $40, which is yet another cost for people who may not make their minimum payments on time.

Be honest with yourself about whether you tend to carry a monthly balance. If you do, the perks are not worth the costs for this card.

Luxe status offers more perks

If you earn 5,000 points in a calendar year (excluding bonus points and merchandise returns), you’ll earn Banana Republic Luxe status, which offers extra perks.

• Luxe status comes with free three- to five-day day shipping on eligible orders and a quarterly point bonus of 20% of points earned (so if you’ve earned 500 points throughout the quarter, you’ll get an extra 100 points added to your reward balance).
• Luxe members get free basic alterations on clothing items purchased from Banana Republic.

Keep in mind that these extra perks may not be worth the extra spending required to earn them. For instance, if you spend roughly $800 at Banana Republic every year, these perks might not be enough to justify the extra $200 in spending to reach Luxe status. But if you already spend $1,000 at Banana Republic annually, they’re a nice benefit as you look to add to your wardrobe. 

Understanding your points and redemption options

Redeeming points is simple, and there aren’t many restrictions about when you can redeem them. But it’s important to note that rewards can be used only at certain Gap Inc. stores. Here’s what you need to know.

• You can redeem up to three reward certificates on a single transaction in person and up to five reward certificates online.
• You can combine reward certificates with a promotion or sales to save even more money.
• You must requalify for Luxe status (earn 5,000 points or more) each calendar year.

The other stores in the Gap Inc. brand — Old Navy, Gap and Athleta — also offer store-specific credit cards. The primary difference between these cards is the branding though, so don’t worry too much about whether you should apply for one or the other.

Who this card is good for

This card may work well for people who already do a lot of shopping at Banana Republic and other Gap Inc. stores. For example, if you regularly update your work clothes or are a young professional building your wardrobe for the office, then a Banana Republic credit card might be a useful option for you.

This is especially true if you plan to spend at least $1,000 at Banana Republic or other Gap Inc. stores in a calendar year, because you can earn Luxe status and unlock more benefits.

But this card may not be a good choice for people who don’t regularly shop at Gap Inc. stores. Because the rewards are specific to the stores, the perks aren’t worth it unless you know you’d spend the money at Banana Republic even without the credit card in your pocket.

Because of the high purchase APR and late fees, this card may not be a great choice for shoppers who might carry a balance. Your fees and interest payments could quickly outweigh any potential benefits.

Not sure this is the card for you? Consider these alternatives.

If you’re not sure whether this card is right for you and your shopping needs, one of these cards might be more your style.

• Citi Double Cash® Card: Consider this card if you’re looking for a strong cash-back rate on every purchase you make.
• Petal® 1 Visa® Credit Card: This is a decent starter card with no annual fee — and the opportunity to earn cash back on some purchases.
• Discover it® Cash Back: This card is a good option for earning cash back wherever you shop.

If you’re planning a trip abroad, it’s a good idea to consider a temporary international phone plan that will allow you to use your phone like you do at home. If you don’t plan ahead, you could end up lost in an unfamiliar city without any sense of how close you really are to that restaurant your friend recommended.

Plus, if you don’t have a plan in place before you leave and end up needing to use your phone, you could get stuck paying much more for exactly the same service you could have gotten beforehand for less.

Here’s the good news: Major cellphone providers in the United States offers international phone plans. These plans feature different prices and options — and while those differences might seem small, they can actually be significant.

If you’re going on vacation in just a few days, you probably don’t want to spend valuable planning time searching through pages of info. So here’s a quick overview of international phone plan options for Verizon, AT&T, Sprint, T-Mobile and U.S. Cellular to help make your decision a little easier.

Jump to the available plans for …

• Verizon
• AT&T
• Sprint
• T-Mobile
• U.S. Cellular

Verizon

Verizon offers a few international phone plans that can cover as little as one day or a full month, so the length of your trip will figure into which could be best for you.

TravelPass: Good for quick trips

Verizon’s TravelPass allows you to pay per day while you’re away. If you want to use your phone just as you do at home, then this is a great option for trips that are less than one week. The pricing is straightforward: $5 per day in Canada and Mexico or $10 per day in 130+ other countries around the world. Just be sure to confirm that the country you’re visiting is included in this TravelPass list.

And make sure to select the plan before you leave for your trip. Even though you can add the TravelPass on Verizon’s website, it might also be a good idea to check the My Verizon app to select an international plan and make sure your phone is ready to use when you arrive.

It’s also important to note that the data, talk and text you use abroad counts toward your regular plan. For example, if you get 5GB of data per month and use 4GB during a five-day trip, you’ll only have 1GB of data left for the rest of the month.

Month-to-month plans: Good for trips longer than one week

In addition to TravelPass, Verizon offers two month-to-month plans with slightly different offerings for coverage in more than 150 countries.

Unless you’re visiting Canada or Mexico, or need more than the allotted data, it makes financial sense to opt for a month-to-month plan instead of TravelPass when you’re abroad for longer than a week. This is because the month-to-month plan costs $70 or $130 per month, whereas the TravelPass is $10 per day in most countries. With TravelPass, two weeks of coverage in most countries would cost $140, which is more than the most expensive monthly plan.

AT&T

Like Verizon, AT&T has a few different international phone plan options with varying prices. In some cases, though, you may not need to add an extra plan if you’re traveling to Canada or Mexico.

For example, if you have an AT&T Unlimited & More Premium or an AT&T Unlimited & More plan, you get unlimited talk and text between the U.S., Canada and Mexico. Plus, you’ll get access to your usual data plan in Canada and Mexico with no roaming charges. If you’re traveling to a country that isn’t Canada or Mexico, you’ll need to add an international phone plan for service.

International Day Pass: A straightforward option

AT&T’s International Day Pass costs $10 per day and provides unlimited talk and text in more than 100 countries. (Just be sure to confirm that the country you’re visiting is on the list.)

You’ll also have access to the same data plan you have at home. So your data phone usage does count toward your regular plan.

AT&T Passport: Good for uncovered locations

AT&T Passport is a month-to-month plan with two different offerings based on your talk, text and data needs. AT&T Passport provides cellphone coverage in more than 200 countries, nearly double the amount covered with the International Day Pass.

One note: While it’s cheaper to make phone calls with Passport than it is if you pay as you go, there’s still an additional fee per minute.

Sprint

If you have a service with Sprint, then your international phone use should be straightforward and user-friendly. Every customer with an LTE/GSM smartphone has automatic access to Sprint Global Roaming data and text in many international locations. (Phone calls cost extra.)

Plus, it’s easy to search for your travel destination and find the exact availability and cost of each service listed below.

Sprint Global Roaming: A solution for most customers

Sprint Global Roaming makes getting data during international travel relatively simple. Customers automatically get free text and free basic data (though only up to 2G speeds) in most locations. Talk starts at $0.20 per minute.

More than 200 total countries and destinations have coverage. But the cost of phone calls can vary by location, so it’s important to check your specific travel destination before you go abroad. But other than confirming that you’re covered, there’s nothing else you need to do. Customers with LTE/GSM smartphones have automatic access when abroad.

High-speed data passes: Good for frequent users

If you need faster data for your trip, you can buy high-speed data passes with speeds up to LTE, which is necessary if you want data speeds that are comparable to what you have at home. Costs vary depending on the location you’re visiting, and you can upgrade by responding to a link in an automatic welcome text from Sprint when you get to your destination.

T-Mobile

Many T-Mobile phone plans — T-Mobile ONE, Simple Choice, New Classic and Select Choice plans — include unlimited texting, $0.25 per-minute calling and up to 2G data speeds in more than 200 countries and destinations for no extra cost. The T-Mobile Essentials plan provides unlimited text and calling for $0.25 per minute, but no data. However, the carrier’s pay-in-advance plans and No Credit Check plans do not include an international phone plan.

It’s a good idea to confirm that your travel destination is on T-Mobile’s list before you leave the country. If you are traveling outside of the approved countries, pricing will vary.

International Pass: Good for higher data speeds

If you want faster data, you can buy an International Pass for $5 per day. International Passes provide 512MB of data at up to 4G LTE speeds and unlimited calling for 24 hours.

For trips to Mexico and Canada, the T-Mobile ONE will give you unlimited calling, texting and data up to 5GB at 4G LTE speeds.

U.S. Cellular

U.S. Cellular’s prices for talk, text and data vary based on the area of the world you’re visiting. Be careful about phone usage while you’re abroad, because these fees add up quickly.

U.S. Cellular rates

U.S. Cellular data packages

You can also add a monthly data package if you think you’ll need more data while you’re away. However, data packages are only available for certain parts of the world.

Bottom line

Traveling is exciting — but it can also be stressful visiting an unfamiliar place. That’s why it’s smart to have an international phone plan in place before you go. Whether you plan to use your phone for emergencies or daily directions, it’s a good idea to have access to your phone while you’re abroad.

When selecting your plan, make sure you’re picking the option that’s best for your trip. Not everyone will need the fastest data speeds available, just as some people might only need to use a relatively small amount of data over the full length of their vacation.

With no balance transfer fees and no annual fees, one of these Navy Federal Credit Union® credit cards could be worthy of a spot in your wallet, depending on what you’re looking for in a balance transfer card. Keep in mind though, that as it’s a credit union, Navy Fed only offers its cards to members.

1. Best for intro APR: Navy Federal Credit Union® Platinum card
2. Best for rewards: Navy Federal Credit Union® Visa Signature® cashRewards
3. Best for building credit: Navy Federal Credit Union® nRewards® Secured card
4. Heads up: What to consider when applying for a Navy Federal Credit Union® balance transfer card
5. Bottom line: Which card is right for you?

At a glance: Best balance transfer cards from Navy Federal Credit Union®

Best for intro APR: Navy Federal Credit Union® Platinum card

When it comes to the best Navy Federal balance transfer offer, the Navy Federal Credit Union® Platinum credit card takes first place.

There’s a 0% intro APR for 12 months on balance transfers requested within the first 30 days your account is open, giving you a window of time to pay down your transferred balance without being charged interest on it. Once the intro period ends, you’ll be charged a variable APR of 8.24% to 18% on balance transfers.

Be careful about charging anything new to the Navy Federal Credit Union® Platinum credit card while you’re paying down a transferred balance. The intro APR only applies to balance transfers, and you’ll be charged interest on any new purchases you make with the card (unless you pay your credit card balance — including any transferred balances — on time and in full each month).

Best for rewards: Navy Federal Credit Union® Visa Signature® cashRewards credit card

It doesn’t have an intro APR offer for balance transfers, but the Navy Federal Credit Union® Visa Signature® cashRewards card does offer no annual fee and no balance transfer fee. (Just know that all balance transfers will be subject to a variable APR of 11.9% to 18%.)

Before you decide to transfer a balance to the Navy Federal Credit Union® Visa Signature® cashRewards card, confirm that you’re approved for a balance transfer APR that is lower than the balance transfer APR on your current credit card. Without a lower balance transfer APR, you won’t be saving money on interest charges.

Where this card outshines the other Navy Fed cards on our list is right there in the name: cashRewards.

The card offers 1.5% cash back on purchases. And if you’re looking for a sign-up bonus, the Navy Federal Credit Union® Visa Signature® cashRewards card offers $250 cash back when you spend $2,500 on purchases within the first 90 days of account opening.

Best for building credit: Navy Federal Credit Union® nRewards® Secured card

If you’re looking to build your credit and consolidate debt with minimal fees, the Navy Federal Credit Union® nRewards® Secured card could be an option for you.

Balance transfers to this card have a variable APR of 18% from the start, so you should check that the balance transfer APR you’re approved for is lower than the balance transfer APR on your current card. If it’s not, you won’t save money on interest.

As a secured card, the Navy Federal Credit Union® nRewards® Secured requires an initial deposit of at least $200 into a qualifying Navy Federal savings account, which will be held while your account is open.

It also earns you one rewards point for every $1 spent on purchases — which is notable, as not all secured cards offer rewards.

Heads up: What to consider when applying for a Navy Federal balance transfer credit card

Even though these Navy Federal Credit Union® cards don’t charge balance transfer fees, you’re still responsible for paying interest on the balance you transfer to a Navy Federal card. Interest will begin piling onto your transferred balance the day the transaction posts to your account.

The exception, of course, is with the Navy Federal Credit Union® Platinum card, which gives you that 12-month intro APR before interest starts accruing on the balance you’ve transferred.

For all three credit cards, you’ll need to request any balance transfers within 30 days of opening a new account can’t be more than your credit card limit, and a single balance transfer can’t be more than $30,000.

Bottom line: Which card is right for you?

When it comes to figuring out which card is right for you, ask yourself what you’re trying to accomplish with a balance transfer. If your main goal is to consolidate debt and save money on interest, then the Navy Federal Credit Union® Platinum card might be the best fit.

But if you’re looking for a credit card that offers balance transfers with no balance transfer fee, plus additional perks — like the chance to build credit or earn cash back — then you may be better off with one of the other two cards. But before you transfer a balance, make sure that your balance transfer APR is lower than the one you have now. If not, another balance transfer credit card might make more sense.

Also, before you apply, you’ll want to make sure you’re eligible to become a member with Navy Federal Credit Union.

Updated November 1, 2024

This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Written by: Taylor Milam-Samuel

If you’re an avid Victoria’s Secret shopper, you’ll probably enjoy the Victoria’s Secret Credit Card tiered rewards system.

How does the tiered rewards system work?

• All cardholders earn one point for every $1 spent at victoriassecret.com and all Victoria’s Secret and PINK stores in the U.S.
• Cardholders in the Victoria and Silver tiers earn a $10 reward certificate for every 250 points earned
• Cardholders in the highest rewards tier — the Gold tier — earn a $15 reward certificate for every 250 points earned

All cardholders begin at the Victoria cardmember level, but once you spend $250 during the program year of February 1 to January 31, you’ll be automatically upgraded to the Silver tier. Once you spend $500 during the program year with the Victoria’s Secret Credit Card, you’re automatically upgraded to the Gold credit card.

If you like to shop at Victoria’s Secret and regularly spend more than $250 per year, the Victoria’s Secret Credit Card could be a good way to get rewarded for shopping. But if that doesn’t sound beneficial to you, you might be better off with a regular cash back rewards credit card instead.

The rundown: Everything we like about Victoria’s Secret Angel credit card

If you’re not careful, store credit cards can hit you with high interest, fees and penalty charges. But if you’re a frequent Victoria’s Secret shopper and are dedicated to paying your balance on time and in full each month, then the Victoria’s Secret Credit Card might be a great card to have. Here’s what we like about it.

Generous shopping rewards

You’ll earn one point for every $1 spent at U.S. Victoria’s Secret and PINK stores, and victoriassecret.com, plus three points for every $1 spent on bras. For every 250 points you earn, you’ll receive a $10 or $15 reward certificate (depending on your tier status) that can be used toward a future purchase.

There’s no limit to how many certificates you can earn, but your rewards expire 90 days from when they’re issued. And any points you earn expire 12 months from the day you earn them.

No annual fee

There’s no need to worry about paying an annual fee with the Victoria’s Secret Credit Card, which makes this card a great low-maintenance option for responsible spenders.

Fun cardholder perks that add up

One of the most popular perks is the annual birthday certificate, but that’s only the beginning. You’ll also earn triple points for all bra purchases. Plus you’ll get free shipping on eligible online orders totaling $50 or more. Simply use your Victoria’s Secret Credit Card to pay and look for the offer code to enter at checkout.

Heads up: What you should consider before applying for the Victoria’s Secret Credit Card

The Victoria’s Secret Credit Card is designed for frequent Victoria’s Secret and PINK shoppers, so it may not be a good fit for everyone. Here’s what you might want to be aware of before applying.

The card can only be used at Victoria’s Secret brand stores

The Victoria’s Secret Credit Card is a closed-loop card, which means it can only be used at a specific store or group of stores. In other words, you can only use your Victoria’s Secret Credit Card at U.S. Victoria’s Secret and PINK stores, victoriassecret.com or in-store at Bath & Body Works. (Although you won’t earn any reward points from Bath & Body Works purchases.)

If you don’t regularly shop at Victoria’s Secret brand stores, you might not get a lot of use out of this credit card.

High penalty fees and interest rates can get expensive

The variable purchase APR of 24.99% for the Victoria’s Secret Credit Card is high. If you tend to carry a balance, those interest charges can quickly add up. There are also penalty fees that can detract from rewards you might earn by using the card — up to $40 for late payments and $25 for returned payments.

Other cards to consider if the Victoria’s Secret Credit Card isn’t for you

• Nordstrom Retail Card: This card is good for all-in-one clothes shopping.
• OpenSky® Secured Credit Visa® Card: This card is good for building credit.
• Citi Double Cash® Card: If you’re looking for simple cash back rewards, this card could be a good choice.

Bottom line: Is the Victoria’s Secret Credit Card right for you?

The Victoria’s Secret Credit Card could be a great choice if you’re a loyal Victoria’s Secret shopper who tends to spend more than $250 in-store per year. That’s because you should earn at least $20 of rewards from the annual birthday gift and rewards certificate.

But if you value flexibility or you’ve got other card-benefit priorities, then you might be better off with a more versatile store credit card or a general cash back credit card.

Updated October 12, 2021

This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Written by: Taylor Milam-Samuel

Pros

• Account opening discount
• Points rewards system is straightforward and easy to use

Cons

• High variable APR makes it costly to carry a balance
• Low rewards-earning potential, especially at stores that are not part of Gap Inc.
• Can only redeem rewards points at Gap Inc. stores like Old Navy and Banana Republic

What you need to know about the Gap credit card

You might end up with a card you can’t use everywhere

One of the most confusing aspects of the Gap credit card is its application process. When you apply for the Gap credit card, you are automatically considered for two cards: the Gap Visa® Card and the GapCard.

The application process consists of two main steps: Synchrony Bank, the card issuer, will assess your credit and determine whether to approve you for the Gap Visa® Card. If you do not qualify, you are then considered for the GapCard.

The GapCard is a closed-loop credit card, which means you can use it only at Gap Inc. stores, which include Gap, Banana Republic, Old Navy and Athleta. The Gap Visa® Card can also be used at stores not owned by Gap Inc.

In other words, you may end up with a credit card that can only be used at a handful of stores if you’re not approved for the Gap Visa® Card. The GapCard may report information to credit bureaus, giving you the potential to build credit. But GapCard has limited uses and less rewards-earning potential.

You can earn rewards for use at any Gap Inc. store …

The GapCard offers five rewards points for every $1 spent in Gap Inc. stores, both in store and online. This includes purchases made at Gap, Athleta, Banana Republic and Old Navy.

When you make purchases with the Gap Visa® Card at all other stores, you’ll earn one point for every $1 spent.

Points can’t be redeemed for rewards on an ongoing basis, but they can add up to earn the following benefits:

• For every 500 points you earn, you’ll receive a $5 reward for use at any Gap Inc. store. Rewards are issued as multiples of $5 depending on how much you earn in a billing cycle, though a single rewards certificate cannot exceed $50 in value.
• If you earn 5,000 points — excluding bonus points earned during a bonus reward point campaign and merchandise returns — in a calendar year and meet certain other conditions, you’ll receive Gap Silver Status, which comes with a 20% quarterly point bonus. For example, if you earn 1,000 points in a calendar quarter, you’ll get an extra 200 points added to your balance.

Rewards certificates can be presented in store and also come with a confirmation code for use online.

… But they might take a while to add up

It could take a lot of spending to get those $5 rewards.

To reach 500 points, you would typically need to spend $100 at Gap Inc. stores. That goal might be more attainable if you also factor in your spending at other stores with the Gap Visa® Card, but there’s still a $500 threshold on all spending outside of Gap Inc. to get a $5 reward in return. Plus, the points can only be redeemed at Gap Inc. stores.

Changing your spending habits just to earn rewards through your credit card is not recommended, though it may seem like an attractive strategy if you have a card like this. If you find yourself going on a shopping spree you normally wouldn’t indulge in just to earn a $5 reward, then this card may not be right for you.

The APR can prove to be costly

Store credit cards tend to have high APRs, and these two Gap credit cards are no exception to this. Compared to the national average of 14.65% for all credit card accounts in November 2020, the APR for these cards stands out as a potential negative.

If you carry a balance from month to month on your Gap credit card, the interest that adds up with the cards’ 25.99% APR could cost you.

It’s also worth noting that Gap’s fees for late payments can go up to $40, which is another reason why this card is not a good fit for people who aren’t sure if they can pay on time and in full every month.

Other Gap credit card features to note

In addition to rewards points, the Gap credit cards offer other perks. But they are likely to be most useful for dedicated Gap Inc. shoppers.

• When you apply for the card, you’ll get 20% off your first online purchase, plus free shipping . It’s a quality sign-up offer, but you might be able to find a similar coupon as part of a regular sale.
• Gap Silver cardholders receive free three-to-five business day shipping for all online purchases.

It’s worth repeating that all of the rewards and perks you can earn through this credit card are specific to Gap Inc. stores. If you don’t shop at these stores regularly, the credit card perks probably aren’t useful.

Understanding your points and redemption options

The points system for the Gap credit card is straightforward. For every 500 reward points you earn, you’ll receive a $5 reward.

At Gap Inc. stores, you’ll earn five rewards points for every $1 spent. If you have the Gap Visa® Card, you’ll also earn one reward point for every $1 spent everywhere Visa is accepted.

There are several other things to note about your points and rewards, too:

• $250 is the largest rewards amount you can be issued in a billing cycle, but remaining points will carry over.
• Unused points will expire 24 months after your last purchase if your account has been inactive for 24 months.
• There are restrictions on the number of rewards you can use at once and how they can be used. You can redeem up to three rewards certificates per transaction in store, but that limit increases to five certificates for online or phone orders. Rewards certificates can be combined with one other discount code, too, so cardholders can use rewards for purchases during regular Gap sales.

It’s also worth noting that these perks are similar to those offered by credit cards from other Gap Inc. brands, and share many similarities to the Old Navy credit card.

Who this card is good for

Because the rewards and perks are specific to Gap and Gap Inc. stores, this card is best for someone who already does a fair amount of shopping at Gap and other Gap Inc. stores.

If you spend at least $1,000 per calendar year at Gap Inc. stores, you could easily reach Gap Silver status and take advantage of more perks — like free shipping, quarterly bonus points, and a personally chosen sale day — without increasing your current spending.

Ideal cardholders probably shop at Gap Inc. stores at least once a month, both for themselves and their entire family.

In addition to being a devoted Gap Inc. shopper, the ideal cardholder should feel very confident about not missing a payment or carrying a balance from month to month. If you do, the high APR and fees could outweigh the benefits.

Not sure this is the card for you? Consider these alternatives

If you’re not sure whether the Gap credit card is right for you and your family, one of these cards could be a better fit:

• Citi Double Cash® Card: Consider this card if you’re looking for a strong cash-back rate on every purchase you make.
• Petal® 1 Visa® Credit Card: This is a decent starter card with no annual fee — and the opportunity to earn cash back on some purchases.
• Discover it® Cash Back: This card is a good option for earning cash back wherever you shop.

Between paying for the flight, booking accommodations, buying food and splurging on entertainment, the price of vacationing can add up.

A 2018 Travel Trends study by AARP found that Americans surveyed planned to spend an average $6,210 on travel in 2019. That might seem like a lot, but research by the Journal of Occupational Health suggests that vacationers are getting something in return: positive effects on their health and well-being.

But there’s a catch. A study published in Applied Research Quality Life found that vacationers surveyed are more likely to experience a happiness boost if the trip was relaxing. According to the study, vacations that involve a lot of stress and anxiety — due to say culture shock or homesickness — can actually lower the vacationer’s post-trip happiness. That means it’s critical to choose the right destination for you and to plan ahead. And while the study admits there’s no proven direct connection between vacation stress and post-vacation happiness, there may still be value in planning the best (and least stressful) vacation for you.

Before we talk about our best budget travel destinations, let’s look at one key way you can alleviate stress on vacation: utilizing credit card rewards.

What is the best way to use credit card rewards for budget travel?

Credit card rewards are incentives offered by credit issuers that are often used to encourage consumers to sign up and become loyal customers. Rewards can also be an excellent way to reduce travel expenses.

Here are a few popular card types for using credit card rewards for budget travel.

• Travel rewards credit cards: Cards that allow you to earn points that can be redeemed for flights or hotels.
• Cash back credit cards: These provide a percentage of cash back on eligible purchases that can be redeemed for cash.
• Airline rewards credit cards: You can accumulate points with a specific airline that can be redeemed for flights.
• Hotel rewards credit cards: These allow you to earn chain-specific hotel points (like Hilton or Marriott) that can be redeemed for overnight stays.

What to consider before you pick out a travel rewards credit card

Travel rewards expert Lee Huffman, BaldThoughts.com, suggests first knowing where you’d like to vacation when thinking about credit card rewards.

“For example,” Huffman says, “if you want to travel to Asia, then you want to make sure that you have credit card rewards that can be redeemed for international flights.”

And your destination isn’t the only factor to keep in mind. It’s also helpful to determine the type of traveler you are. Once you know that, it can be easier to choose the best rewards credit card for you.

Huffman points out that co-branded credit cards, for airlines or hotels, have their benefits, but you may be better off with a cash back card if special prices or “error fares” are available.

In theory, you could also take advantage of error fares using an airline rewards card, but you’d only get rewarded if your card matched the airline that had the error fare. Which is why a cash back card (which isn’t tied to any specific airline) could offer you more flexibility.

“[Cash back cards] can also provide more flexibility in terms of paying for additional travel-related expenses like restaurants,” Huffman says.

Regardless of the type of card you choose, it’s smart to plan ahead, accumulate points and determine your destination.

Once you have your plans set and your chosen rewards card in hand, here are the top budget travel destinations to consider.

At a glance: 6 of the best budget travel destinations

1. Morocco

Located in Northern Africa, Morocco is a hidden gem that boasts cities, mountains and beaches within a few miles of one another. It’s a great destination for a group trip with friends or extended family. The best part? The prices.

Morocco can be very different from other parts of the world, according to Calvin Iverson, PR manager at TravelPirates.com. And, Iverson points out, haggling in the local markets is common.

“If you practice enough,” he says, “you can walk away with some impressive Moroccan souvenirs for a fraction of what they retail for in the U.S.”

If you’re unsure where to start, the cities of Marrakech or Fez are excellent options for budget travelers who are ready to dive into the local culture. In both cities, you can find budget accommodations in dorm rooms with shared bathrooms for as little as $8 per night. If you want to splurge a bit, midrange hotel accommodations can cost about $50 per night.

Delicious meals from the historic areas (or medinas) in each city can be found for under $5, and admission to local sights starts as low as about $1.

2. New Orleans

Even though New Orleans is located in the United States, it can feel like a different country. It’s a one-of-a-kind city with its own unique culture. Also known as the Big Easy, New Orleans is a great destination for foodies, families or a group of friends.

“At TravelPirates, I’ve seen round-trip flights from many U.S. cities [to New Orleans] under $100, and the city has all kinds of affordable Airbnbs for those who would rather get a more authentic experience in this vibrant city,” Iverson says. “If you enjoy happy hour, keep an eye out for 3-for-1 drink specials on Bourbon Street, and then don’t forget to grab one of the city’s famous po’ boys.”

3. Estonia

If you’ve ever dreamed of spending time in Scandinavia, but balked at the expensiveness of cities like Oslo or Stockholm, then Estonia might be the destination for you. Even though Estonia is not considered part of Scandinavia, it has nearly the same Nordic charm and gorgeous scenery for a fraction of the price.

In a city like Tallinn, the capital, you can find budget accommodations in dorm rooms with shared bathrooms starting at $16 per night. Or if you want to experience the feel of European luxury, you can splurge on a five-star hotel for $150 to $250, depending on the month.

You can find a dinner for two in the Old Town for about $30. It’s not the cheapest on the list, but if you want the feel of Europe without the price, it’s a great choice. Luckily, some entertainment is free with guided walking tours that feature the country’s famous squares and stunning coastline. (Just note that it’s typically expected that you tip after these free walking tours.)

4. Guatemala

If you’re looking for outdoor adventures and untouched jungles, then Guatemala is an excellent option for both couples and families.

“Everyone loves Costa Rica, but as the country gets more popular, so can the price tag. If you’re looking for something a little cheaper, check out Guatemala,” advises Iverson.

Iverson’s found accommodations for as little as $13 a night, and we’ve seen some for even less.

5. Albania

Located next to Greece, Albania offers similar pristine beaches and stunning landscapes as its neighboring country for a fraction of the price. With beaches for relaxing and castles for exploring, the cities of Saranda or Tirana are excellent options for family vacations, romantic getaways and group adventures.

You can find hotel accommodations for as little as $50 per night, a sit-down lunch or dinner at a charming local restaurant costs about $25 to $40 for two, and spending a day at the museum can cost only a few dollars.

“If you have the chance, hop on public transportation or grab an inexpensive taxi and get outside the city to explore the country’s national parks, fortresses and hiking trails,” Iverson says.

6. Las Vegas

Las Vegas has something for everyone. From partying on the strip with your best friends to taking a road trip to see the Grand Canyon with your kids — it’s a one-stop wonder.

“Las Vegas is famously inexpensive. I’ve seen round-trip flights from many U.S. cities for as little as $57, but the affordability doesn’t stop at flights alone,” Iverson says.

Hotels on the Las Vegas strip may run specials as well, particularly in the off season, to draw travelers. A December hotel booking on the strip, for example, could start as low as $38.

“Before you start planning, you’ll want to know which hotel chains are located at your travel destination,” Huffman says.

For example, if you’re headed to Las Vegas and have Hilton points, you’ll want to make sure that there is a Hilton hotel there (hint: there is).

Bottom line

Planning a vacation with your family and friends can be expensive, but choosing a budget travel destination and using credit card rewards are simple ways to help minimize the cost of travel and maximize the joy it can bring.

By choosing the destination first, thoroughly planning and utilizing credit card rewards, you can avoid crowds and relax in style while knowing that you scored the vacation of your dreams for what could be a fraction of the typical price.

There are a lot of reasons debt occurs — unforeseen expenses, medical emergencies, job loss and more.

Regardless of the reason you might be in debt, rest assured that you’re not alone. Millions of consumers struggle with debt. So whether your debt is the result of an unexpected emergency or accidental overspending, there’s no need to feel ashamed about what you owe.

But to avoid paying excessive interest rates, late fees and falling behind on payments, it can be a good idea to learn how to get out of debt and create an actionable plan to meet your goals. A debt repayment calculator can help you figure out how long it would take to get out of debt.

Here are five simple steps you can follow to jump-start your debt repayment journey.

1. Assess the amount of debt you owe
2. Learn the details
3. Make a repayment plan
4. Keep spending in check
5. Fight fatigue by celebrating small wins

1. Assess the amount of debt you owe

Even though it may seem daunting, it’s important to understand the total amount of debt you owe. Having a clear understanding of the numbers will empower you to make a repayment plan that actually works.

This can be as simple as compiling a spreadsheet in Excel or linking your credit cards to a free app that will compile the information on your behalf.

2. Learn the details

After you’ve determined the total amount you owe, it’s time to dig a little deeper and read the fine print. Here are additional details to collect about each debt:

• Due date for each payment
• Minimum monthly payment
• Interest rate

It’s important to know the details because they will ultimately help you determine the best repayment plan.

A minimum monthly payment is the smallest amount of money due each month to keep your credit card account in good standing. Most banks determine the minimum payment by calculating 1% of the total balance owed.

3. Make a repayment plan

Once you understand the big picture, it’s time to create a repayment plan. There are two main debt repayment strategies.

• Debt snowball: Coined by personal finance expert Dave Ramsey, the debt snowball method focuses on paying off the smallest debt first, while maintaining minimum monthly payments on all other debts. As each debt is paid off, the money that was used for the previous debt is “snowballed” and used to pay the next smallest debt. This process is repeated until all debts are gone. Even though this strategy might not save you as much money on interest fees, some people find it motivating to pay off one account at a time.
• Debt avalanche: Instead of focusing on the debt with the smallest balance, the debt avalanche focuses on paying off the debt with the highest interest rate first, while paying minimum monthly payments on all other debts. After that, consumers focus on the debt with the second-highest interest rate and repeat the process until all debts are gone.

A research study from Northwestern University has shown that consumers who tackle small balances first are more likely to eliminate their overall debt, despite the fact that it doesn’t make the most economic sense.

So the best thing for you to do is develop a plan that plays to your strengths and motivations — even if your plan differs from someone else’s. As long as you’ve found a way to consistently pay down your debt, you’re golden.

4. Keep spending in check

Now that you have a plan to get out of debt, it’s time to focus on the other part of the equation: spending.

When it comes to paying off debt, the first step is to create a budget and prioritize your payment plan.

When you’re first getting started with budgeting, a simple spreadsheet can help make the transition go smoothly. The Federal Trade Commission provides a downloadable budget template with six simple spending categories: housing, food, transportation, health, personal and family, finance and “other.”

5. Fight fatigue by celebrating small wins

Whether you’ve paid off your first $1,000 of debt or have made five consistent payments, it’s important to celebrate your debt repayment victories with little luxuries.

We recommend incorporating these small celebrations into your repayment plan. As you hit your bigger goals, how will you celebrate?

Plan your milestone celebrations ahead of time and write them down in your plan. That way you’ll constantly be working toward a fun, tangible and positive goal. Then, instead of simply looking forward to paying down that next $500, you can also get excited about treating yourself to a night out with friends after you reach a milestone, or getting a milkshake at your favorite restaurant.

Why should you pay off debt?

Debt, while it can have negative connotations, isn’t always bad. Consistently paying off debts on time can have a positive impact on your credit scores.

However, debt — especially large amounts of it — can be a financial burden. Even if you can meet your minimum payments, interest rates add up over time and can become financially taxing.

The Federal Trade Commission provides the following example:

“Suppose when you’re 18, you charge $1,500 worth of clothes and DVDs on a credit card with a 19% interest rate.

“If you repay only the minimum amount each month, … You’ll be more than 26 years old by the time you pay off the debt. That’s 106 payments, and you will have paid more than $889 extra in interest.”

In other words, interest rates are the “price” of the money you borrow. In the example above, the “price” of the loan was $889.

To avoid paying extra interest, it can be a good idea for everyone to create a debt repayment plan by following the steps we’ve laid out above.

Bottom line

Getting out of debt is a journey and the most important decision you can make is to start the process. Take stock of your debts, learn about the details and create a plan. But once you’ve started the process, don’t forget to celebrate along the way. After all, with every payment you make, you’re one step closer to debt freedom.

Between shopping for gifts, traveling to visit family and cooking special dinners, holiday spending can add up.

If you’re worried about how to minimize debt and still enjoy yourself this holiday season, you’re not alone. But with a little bit of planning and the strategic use of credit card rewards, you could minimize holiday debt while maximizing your holiday spending.

Before we talk about ways to maximize savings, let’s recap what credit card rewards are all about.

What are credit card rewards?

Credit card rewards are incentives offered by credit card issuers that are designed to encourage consumers to sign-up for their products and become loyal customers.

Credit card rewards can come in a lot of different forms, but the three most common are:

1. Cash back credit cards provide a percentage of cash back for each eligible purchase.
2. Retail credit cards offer points, discounts and/or cash back for specific retail stores.
3. Travel rewards credit cards allow you to earn miles or points to redeem for things like travel and hotel stays.

“Every business is fighting against each other to gain customers and loyalty,” explains Natasha Rachel Smith, personal finance expert at TopCashBack.com. “To make it more attractive to consumers to use their product, issuers will offer both introductory credit card offers and ongoing offers.”

Due to the increase in expenses, the holidays can be an excellent time to use the credit card rewards and points you’ve been accumulating all year.

Here’s how you can use your credit card rewards to help you avoid holiday debt this season:

1. Offset your holiday expenses with cash back rewards
2. Use store loyalty to your benefit with retail rewards
3. Save on holiday flights with travel rewards

1. Offset your holiday expenses with cash back rewards

Even though it may seem as if cash back credit card rewards don’t offer flexibility for additional savings, there are a few ways to maximize the cash you’ve earned through your credit card.

“It’s helpful to think of your cash back rewards in terms of layers,” Smith says. “The first layer is the cash back you’ve earned, but there are actually additional layers of savings available online.”

Cash back websites are one way you can earn additional cash back. These websites earn money through affiliate links that lead to store websites. The consumers use these links to shop and then the websites share a percentage of their profit with the consumers.

And, as Smith explains, the cash back earned through these sites is in addition to the cash back earned through your credit card rewards. Combined, that means greater cash back opportunity.

While cash back websites or retailer websites can help to maximize your savings, setting a specific budget for each item on your shopping list can help minimize debt.

Instead of setting an overall budget for the holiday season, you might find it helpful to create an itemized list of how much you plan to spend on each item. Not only will this help you stretch your cash back credit card rewards, but it will also help to minimize overspending.

2. Use store loyalty to your benefit with retail rewards

Retail credit cards offer a unique advantage for holiday shopping because they reward shoppers for their loyalty.

Some retail credit cards offer ongoing discounts whenever you shop at the store online or in person. This can be an excellent perk for holiday shopping because it can save both money and time to shop at one store instead of 10.

According to Smith, there is a simple recipe for maximizing your retail credit card rewards: organization, patience and discipline. It’s important to be strategic and make the most of the retail rewards you’ve earned.

“An important tip that many people don’t think to do is to phone up the retailer and ask them what additional promotions they are currently offering. You might have a special promotion on your account that you aren’t even aware of.”

Combine your retail credit card rewards with promotions whenever possible for added savings.

Another way you can “layer” your savings is by using a cash back website to shop at the store and paying with your store credit card. Doing all this could help you stretch your holiday budget even further.

3. Save on holiday flights with travel rewards

More than 103 million Americans were expected to travel during the holidays last year — a number that grows every year. Whether you’re planning to travel across the country or across the world, your travel credit card rewards may be able to help you save on travel costs.

Smith says the best way to take advantage of flexible travel credit card rewards is by using your points to book flights.

“Most travel credit cards that are through big [issuers] like Chase and American Express allow you to transfer your points to partner airlines, and that’s good news because those flights are often cheaper,” she says.

According to Smith, there are a few specific steps you can take: First, choose your destination. Then search for flights with your issuers’s partner airlines online and transfer your points using your credit card rewards portal.

It’s also important to note that issuers sometimes offer their own travel booking portals, so if you don’t find the flight you want with your issuer’s partner airlines, you can search for flights directly in your credit card’s rewards portal.

If you aren’t traveling this season and still want to take advantage of the points you’ve accrued through your travel credit card, there are other options. You can often use your points to buy a gift card as a present through the portal instead.

Bottom line

Holiday budgeting can be stressful, but using credit card rewards can be an easy and strategic way to maximize your holiday spending, reduce stress and minimize holiday debt this season.

Whether you decide to “layer” your savings and potentially save hundreds of dollars, or simply cash out your rewards and use them to buy gift cards as a present, you could end the season with more money in your pocket than you would if you didn’t take advantage of your rewards.