Saturday, May 26, 2012

Best Credit Cards for Families

Guest Post

Best Credit Cards for Families
Trying to raise a family can be expensive, and sometimes it takes a little bit of extra purchasing power to be able to get the job done. Credit cards provide families with an easy way to spend when they need to. If you are looking for a credit card to use, here are some of the best types of cards for you to consider as a family:
Rewards Cards 
When looking at credit card offers, you're bound to come across several that offer rewards programs. Rewards credit cards can be especially attractive for families because they give you extra things that you can get just for making purchases on the card. For example, you could find a card that provides you with points that you can use toward a family vacation at some point in the future. Whether you use the points for travel, merchandise, or for taking the whole family out to dinner, the rewards can come in handy.
Cash Back Cards 
Cash back credit cards can also be very beneficial when you are trying to raise a family. Finding the best cash back business credit card out there could be nice if you happen to run a business, and have a family. With this type of card, you can get a certain percentage back on all of the purchases that you make. If you're running a business, you may have to make one of your purchases with your card. You can get a certain percentage cash back, and then use the money how you want.
Balance Transfer Cards 
In some cases, having access to the balance transfer credit card can be a lifesaver. When you accumulate debt on a credit card, it can be difficult to pay that debt off on you're currently paying a high interest rate on the debt. If you transfer the balance on that card to a new card, you may be able to pay off the debt much faster. Many credit cards will give you an introductory interest rate of zero percent for the first year or more.
Once you transfer the balance from your old card to the new card, you will be able to save quite a bit of money on interest charges. You could get lower monthly payments to work with or you can apply more of your money toward paying down the principal balance instead of just making minimum payments every month.
When it comes to family finances, there is no reason to simply pick up the first credit card that you can find.  You want to find a card that will work for your family and provide you with as many rewards as possible.  Money is typically tight when you have a growing family, so be sure to do everything you possible can to ensure your family's financial future.