Holiday shopping: Credit cards that save you money

Credit card companies are offering shopping deals and incentives this holiday season

(CBS News) With Halloween and the election in the rear view mirror, credit card companies are peering down the road ahead, hoping to see huge numbers of holiday shoppers.

The National Retail Federation estimates the average consumer will spend nearly $750 on gifts this year.

Carmen Wong Ulrich, financial columnist for Good Housekeeping magazine and president of Alta Wealth Management, spoke to Anthony Mason and Rebecca Jarvis about some of the best credit cards deals for spreading holiday cheer AND saving money.

Whether you're a big spender or on a tight budget, Ulrich said the key is to use your cards wisely and take advantage of the rewards they offer.

"The caveat here is -- if you're going for rewards cards -- if you carry a balance and pay interest, obviously it negates the reward," she said. "You've got to make sure you're not charging just to get rewards and getting into a hole."

Click on the video above to see the full list of credit cards offering the best shopping deals and incentives.