Your credit rating comes from years and years of data that shows your spending and lending habits. One way to improve your credit rating is to find the suitable credit card offer that would cater to the needs of your family. There are a number of credit cards available out there, but finding the right one that can suit your spending habits can be a tricky thing to do. Here are some of the best credit card offers available in the market today.
Cash back credit cards
Some credit cards such as the Blue Cash Preferred Card from American Express allow you to get more cash rewards and rebates simply by spending using the card. This cash back credit cards allows people to get as much as 6% of cash back guaranteed if they purchase their groceries from US supermarkets. Other credit card offers rebate options whenever you make a gas purchase. These reward dollars can easily add up to help you pay for your balance.
Other cards like Citibank’s Double cash card make it ideal for families who rely on their credit cards to make their purchase. For every purchase that’s made in the Double Cash card, the user can get 1% rebate by making the purchase and another 1% once the payment has been made. Unlike the Blue Cash card, the Double Cash card doesn’t require an annual fee to be paid.
Travel and Airline Credit Cards
Families who love to see the world outside their homes can get instant rewards and mileage options from a credit card like BankAmericard’s Travel Rewards card. Every purchase that you make can easily be transferred into points. 1.5 points are made for every dollar that you spend on any purchase. Purchases made outside the US are free from foreign transaction feels when you use this card.
Chase Bank’s Sapphire Preferred credit card allows you to earn 40,000 bonus points for every $4,000 that you spend during the first three months of your credit card. That sheer number of points will amount to $500 worth of travel fees that you can redeem with their rewards program. Some credit cards can also help you earn airline miles that you can use to travel around the world with your entire family.
Prepaid credit cards
Moms and dads can teach their kids the value of money simply by applying for a credit card of their own. American Express offers reloadable prepaid cards that can be topped off with cash that can be used to make purchases in various stores and restaurants across America. Because the kids can only spend the money that is currently present in their accounts, they can’t overspend, giving them a hard lesson about the importance of spending only what you can.
Although prepaid cards can’t help them get the right credit score that they need, they are an interesting option for families who want their kids to have access to money. Prepaid cards can easily be reloaded straight from the bank or through other existing channels like apps and money remittance services. Prepaid credit cards are a great alternative to a secured credit card that allows teenagers to spend more while leaving their parents worried about paying the bills.