Black Friday and Cyber Monday are 2 of the biggest shopping days of the year when consumers aim to take advantage of the lower prices to score big savings.
But in order to maximize your savings when shopping these deals, you would be best off using the right credit card for maximum results. In this case, we'd recommend going with the SimplyCash Preferred Card from American Express.
Curious about these 2 hectic holidays and what other cards you may want to try using to get rewarded even more? We've got a full breakdown ahead.
Key Takeaways
- Black Friday and Cyber Monday are 2 quasi-holidays where merchants discount their products.
- The best credit card for Black Friday and Cyber Monday shopping is the Amex SimplyCash Card.
- Black Friday and Cyber Monday purchases generally do not fall under any category, making credit cards with high base earn rates preferable.
- Even though things are on sale, you may be better off not impulsively buying things just because they're cheap.
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What is Black Friday and Cyber Monday?
Black Friday and Cyber Monday are major shopping days that coincide with American Thanksgiving (which is held roughly a month after our Canadian Thanksgiving).
It marks the unofficial start to the Christmas shopping season, with prices (presumably) discounted on many products around North America. Cyber Monday is an extension of Black Friday, focusing more on online stores, often extending until the next week for a "Cyber Week" promo.
In short, Black Friday and Cyber Monday make up 2 of the biggest shopping days of the year (with only Boxing Day really coming close in Canada). This is often a popular time to go Christmas shopping as you'll be able to save some money.
Using a credit card to take advantage of Black Friday and Cyber Monday sales
The right credit card will earn you major rewards on your shopping.
Black Friday and Cyber Monday deals are usually offered by big box stores that don't sell basics like groceries and essential goods, as well as online-only retailers.
It's stores like:
- Best Buy,
- The Source,
- Staples,
- Amazon,
- Canadian Tire,
- Home Depot, and
- Indigo.
What do these retailers all have in common? They don't fall under any general credit card category. So to earn rewards here, you'll have to get a credit card that offers a high base earn rate everywhere you shop.
However, if you're interested in taking advantage of Cyber Monday (emphasis on the "Cyber" part of things), there are a couple of credit cards that offer bonus rewards anywhere you shop online.
Best credit cards for Black Friday and Cyber Monday deals
What are the best credit cards for Black Friday and Cyber Monday? Here are our choices.
You can always find more options that may suit you better on our compare credit cards page. Adjust your preferences, customize your spending, and you'll find the best credit cards for you.
| Credit Card | Welcome Bonus | Earn Rates | Annual Fee, Income Requirements | Learn More |
|---|---|---|---|---|
| SimplyCash Preferred Card from American Express | 10% cash back for the first 3 months + $50 (terms) | * 4% cash back on gas and groceries * 2% cash back on all other purchases |
* $119.88 * None |
Learn More |
| Rogers Red World Elite Mastercard | None | * Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave, or Shaw * Earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases * Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars |
* $0 * $80K personal/$150K household |
Learn More |
| RBC Avion Visa Infinite |  $100 GeniusCash + 55,000 bonus points (terms) |
* 1.25 points per $1 spent on travel * 1 point per $1 spent on all other purchases |
* $120 * $60K personal/$100K household |
Learn More |
| American Express Green Card | 10,000 bonus points (terms) | * 1 point per $1 spent on all purchases |
* $0 * None |
Learn More |
1. The best credit card for Black Friday
For a high base earn rate on all your purchases, the Amex SimplyCash lineup not only offers that, but extra rewards on basics. Here, let's focus on the SimplyCash Preferred Card from American Express.
Here's what you'll earn on your purchases:
- 4% cash back on gas and groceries
- 2% cash back on all other purchases
Some serious rewards – you won't find any other cash back credit cards with a high base earn rate that also gives you even more rewards on basics.
The annual fee? A standard $119.88 that gets charged out as $9.99.
There's also a no annual fee version – the SimplyCash Card from American Express, which offers the following rewards:
- 2% cash back on gas
- 2% cash back on groceries (up to $300 cash back annually)
- 1.25% cash back on all other purchases
2. The best Mastercard for Black Friday
If you're looking specifically at Mastercards, take a gander at the Rogers credit card lineup. Specifically, the high base earn rate that the Rogers Red World Elite Mastercard comes with.
- Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave, or Shaw
- Earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases
- Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars
Essentially, you'll want to focus on the second point there. A base rate that's 1.5% is rare, especially considering that this card doesn't have an annual fee.
Here are some other features of this card:
- Mastercard Travel Pass (no free passes, just the membership is covered),
- 6 types of insurance,
- redeem your cash back whenever you want once you've accumulated at least $10, and
- the regular suite of World Elite Mastercard perks.
The downsides with this card is that there are higher income requirements ($80,000 personal or $150,000 household), as well as a high minimum spend requirement. If you fail to meet this, Rogers can downgrade you to a lesser card with fewer rewards and perks.
If you don't think you can spend that much money (even with the draw of Black Friday blowout blitzes where the prices are insane), you can go with the Rogers Red Mastercard.
The earn rates are a bit lower, but they're still no slouch:
- Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave, or Shaw
- Earn 1% unlimited cash back on eligible non-U.S. dollar purchases
- Earn 2% unlimited cash back on all eligible purchases made in U.S. dollars
The base earn rate is still on par with other no fee cards, but there's one huge perk: If you have a Rogers service (including Rogers postpaid wireless/home service, Fido postpaid wireless, or any service from Shaw), your earnings are doubled to become 2% back on everything. And if you redeem your cash back on your Rogers service, your rewards will go 30% further, meaning you'll effectively be earning 2.6% back on everything!
Another cool perk? If you travel, you'll not only get boosted earn rates on U.S. Dollar purchases (nearly cancelling out the normal foreign exchange fees), but you'll also get 5 Rogers Roam Like Home days for free. Since these cost up to $15 each, you could end up ahead a further $75.
Both cards are amazing options, so these are definitely ones to do some more research on.
3. The best Visa for Black Friday
×1 Award winner 
GC: $100
1x Award winner
There's an excellent rewards card if you want a Visa – RBC Avion Visa Infinite.
It has an unassuming earn rate – 1.25 points per $1 spent on travel, 1 point per $1 spent on all other purchases (we'll focus on the non-travel stuff for this case).
But what your points are worth also matter. And in this case, your Avion Rewards are worth up to 2.33 cents, giving a return of 2.33% on your Black Friday purchases.
You'll get all these rewards for a standard annual fee of $120.
4. The best no annual fee card for Black Friday
If you want a no annual fee credit card, we'd suggest going with the American Express Green Card for the high returns it earns on its flexible rewards.
With this card, earn rates are simple – 1 point per $1 spent on all purchases. Even if it's only a single point, each point itself is worth up to 2 cents, making for a return as high as 2% on everything you buy.
This card is the basic no fee option offered by Amex, but all of its Membership Rewards cards earn at least 1 point per $1 spent on purchases. So if the American Express Green Card's benefits aren't enough for you, don't worry – here are some of the other cards in the Amex lineup with even greater returns, including our pick for the best credit card in Canada, the American Express Cobalt Card.
Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.* Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.* ×8 Award winner 
8x Award winner
GC: $125
Comparing the best credit cards for Black Friday and Cyber Monday deals
Let's take a look at how these credit cards compare in some key areas.
1. Earn rates
First, your rewards. Here's what you can expect to get back on all your purchases, taking into account a typical $2,000 monthly spend.
All these cards have excellent base return rates on purchases, making them good cards for Black Friday or Cyber Monday shopping.
2. Annual fees
Next we have the annual fees – what it will cost you to keep the credit card in your wallet.
Both the SimplyCash and RBC cards both have annual fees, so keep that in mind if you're looking to go one of those routes.
3. Income requirements
Finally, the income requirements – this is what you'll be required to meet to be eligible for these cards.
2 cards have none whatsoever, while the other 2 have standard Visa Infinite or World Elite Mastercard income requirements (remember, you'll be entitled to World Elite or Visa Infinite benefits, which wasn't taken into account).
What's your go-to credit card for Black Friday?
Are you planning on pouncing on some Black Friday or Cyber Monday deals? If so, what credit card are you planning to use?
Get the discussion going in the comments below, and be sure to share any hot deals you find with us!
And lastly, remember, even though things are all on sale and presumably cheaper, don't take it as a time to spend boatloads of money on things you don't need. With inflation and interest rates making finances much more difficult than before, it may pay off in the long run to put the credit card down and save your hard-earned money.
FAQ
What is Black Friday?
Black Friday is one of the largest shopping days in the year, where retailers offer huge discounts on products. It takes place the day after U.S. Thanksgiving.
What is Cyber Monday?
Cyber Monday follows Black Friday and is usually centred around online deals. Oftentimes, it extends the entire week to make a Cyber Week sale.
When is Black Friday in 2023?
In 2023, Black Friday takes place on November 24th.
What is the best credit card for shopping Black Friday and Cyber Monday deals?
Our top credit card pick for Black Friday and Cyber Monday deals is the Amex SimplyCash Preferred, which offers 2% cash back on all purchases, while earning 4% back on gas and groceries.
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