Money Minutes | General Electric Credit Union Blog | Financial Resources

Buy This, Not That: Score the Best Black Friday Deals

Nov 23, 2021 | 4 minute read

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If you’re like the 77% of people visiting retail stores this year, you may be planning to shop ‘till you drop on Black Friday.1 Or, you may prefer buying presents from the comfort of your home – you’re not alone! In fact, last year’s Cyber Monday was the biggest online shopping day in U.S. history.2 No matter how you plan to shop, use the guide below to strategize which categories to buy from so you get the most from your checking account purchases.

Buy: Electronics

It’s no secret that Black Friday is a hot time to buy electronics. TV deals are synonymous with the holiday, but you can also expect great prices on laptops, Apple products, tablets, speakers, and more.

Best Buy even devoted an entire page of its Holiday 2021 guide to Apple products. You can save up to $200 on the Apple Watch Series 7 and up to $900 on the iPhone 13 Pro with qualified activation and trade-in of an iPhone 11 or newer.

Pass On: Toys

Historically, you’ll discover bigger savings on toys closer to Christmas. But, note that in waiting you run the risk of a product going out of stock. This is important to consider especially if your child asked for one of this year’s most sought-after toys, like Squishmallows or the CocoMelon J.J. doll.

Buy: Gaming Systems

Speaking of electronics, Black Friday is a fantastic time to purchase consoles and video games. This year’s top consoles include the PlayStation 5, Xbox Series X, and Nintendo Switch. Look for savings on the above from retailers such as Best Buy, Walmart, and GameStop. Often, retailers will have gaming bundles that include the gaming console along with accessories or games.

Pass On: Winter Wear

The best time to shop for clothes is out of season. For this reason, fall and winter clothing generally isn’t priced as low as it’ll go on Black Friday. One exception is women’s boots, which are sometimes featured in doorbuster sales.

Outside of that, try waiting until after the new year. By this time, most people who need a new coat have already bought one and retailers adjust the price based on the lower demand.

Buy: Home Appliances

Do you need a new washer, dryer, refrigerator or major kitchen appliance? Look for a replacement on Black Friday. You can find mark downs as steep as 40%.

Smaller appliances like coffee makers, toasters, and vacuum cleaners are available, too. If you haven’t invested in one yet, an air fryer is one appliance that’s skyrocketed in popularity in recent years. Amazon has a handful of deals, so you can start serving up crispy snacks and entrees with 95% less oil.

Pass On: Holiday Decor

The best time to buy holiday décor is right after the holiday in question is over. While this is a bummer if you wanted to add to your collection, it pays to hold off. Use what you already have this year then buy wrapping paper, yard decorations, and other seasonal trimmings at steep discounts after Dec. 25th. Both craft stores and big-box stores are likely to have the best deals.

Buy: Travel Deals

Do the holidays have you in the traveling mood? Lucky for you, Black Friday and Cyber Monday are fantastic times to strike bargains on hotel rooms, airfare, and excursions. Visit the websites of major airlines and online travel sites to see what’s available during this limited time. Note that deals may come with exclusions, such as booking the trip or scheduling travel during a set window.

Tip: Get 24/7 access to Concierge Services3 for travel, dining, and entertainment; special event perks; and no foreign transaction fees with General Electric Credit Union’s Visa Signature® card.4

Ring in the holidays feeling confident you got a good deal. Plus, use your GECU debit card to make purchases so you can take advantage of Round-Up!5 This program takes debit card purchases and rounds them up to the nearest dollar so the excess amount can be deposited into a GECU savings account. Enrolling is easy. First, confirm you have a GECU checking account. Then, give us a call and let us know you want to be a part of the program. Happy holidays, and happy savings!

 

 

 

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1BlackFriday.com Black Friday Shopping Trends for 2021: Consumer Excitement for Cyber Week Shopping

2CBS Cyber Monday was biggest online shopping day in U.S. history

3Visa Signature Concierge: Certain limitations, exclusions, and restrictions apply. The cost of any goods or services purchased through the Visa Signature Concierge services on the cardholder's behalf are the cardholder's responsibility and will be billed directly to the cardholder's Visa Signature card. For more information on this benefit, see the Visa Signature® Guide to Benefits.

4Visa Signature Fees: Regular APR applies; foreign transaction fee is 0% of each transaction in U.S. dollars. There is a $10 or 3% of the amount (whichever is greater) fee to transfer balances from other credit cards to a GECU credit card.

5Round-Up is only available for Simply Free, Choice, and Amplified High-Yield Checking accounts. Funds will be added to member’s chosen GECU savings or money market account; excluding Certificates, IRAs, or IRA Money Market accounts. Match will be paid on eligible funds at the end of the month with an annual match limit up to $350; reportable on IRS Form 1099.

 

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