Updated February 09, 2020

5 Best Credit Cards for Families February 2020

Credit Cards

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No matter your kids’ ages, you know they demand everything from you — your wisdom, your time, and of course your money.

So whether you’re stocking up on diapers, refilling school supplies, or saving for college tuition, wouldn’t it be nice to get some rewards on all your spending on your kids and get some perks along the way?

That’s exactly what the right credit card can provide for your family.

Cards like the Citi Double Cash give 2% back on everything, while others like the Capital One® Savor® Cash Rewards Credit Card give even more cash back on certain categories.

Here are our picks for the best credit cards for families right now.

Citi Double Cash

  • Citi Double Cash: Best for Everyday Purchases
    • Basics: The Citi Double Cash card essentially gives you 2% cash back on everything. You get 1% cash back when you swipe and an additional 1% when you make a payment.
    • Example: Think about how much of your family's spending could be paid for with a credit card. Excluding housing costs (since those generally can't be paid with a credit card), you probably have at least $2,000 monthly in bills and other expenses. If you put these costs on your Citi Double Cash and paid your balance in full every month, this would come out to $480 in cash back per year.
    • Bottom Line: If as a busy mom or dad you just want one go-to card that essentially gives you a 2% discount on everything you buy with it, the Citi Double Cash is for you.
    • Sign-Up Bonus

      None at this time

    • Annual Fee

      $0

    • Credit Score

      Good - Excellent

Amex Blue Cash Preferred

  • Blue Cash Preferred Card: Best for Large Families
    • Basics: The AmEx Blue Cash Preferred Card offers 6% cash back on your first $6,000 in purchases at U.S. supermarkets per year, 6% back on select U.S. streaming subscriptions, 3% back on transit purchases (including Uber, Lyft, parking, tolls, and train fares), and 3% cash back on all your purchases at U.S. gas stations. It gives you 1% cash back on all other purchases, including spending at grocery stores beyond the first $6,000 per year. It has a $95 annual fee.
    • Example: A large family can easily hit $6,000 spend at U.S. supermarkets per year — that's only $500 per month. If all of these purchases are put on your AmEx Blue Cash Preferred, the family will earn $360 cash back in grocery purchases alone, not to mention the other cash back categories. Keep in mind that the card does have a $95 annual fee.
    • Bottom Line: If you have a lot of kids — especially teenagers — the Amex Blue Cash Preferred is a no-brainer. If you spend well over $6,000 on groceries per year, it may be worth it for both you and your spouse to separately apply for a card so you can spend $12,000 on groceries per year at 6% cash back. Also, if you or your spouse has a long commute, the Preferred's 3% unlimited cash back at U.S. gas stations is a nice perk as well.
    • Welcome Offer

      $250 with $1,000 spend within first three months from opening account

    • Annual Fee

      $95

    • Credit Score

      Good - Excellent

Capital One Savor

  • Capital One® Savor® Cash Rewards Credit Card: Best for Families Who Like to Eat Out
    • Basics: Sometimes time is short, and Mom or Dad don't have the time to prepare dinner for the family. When this happens, eating out is the go-to option. If this scenario sounds like your family on a regular basis, know that the Capital One Savor gives you a massive 4% cash back on dining and entertainment in addition to 2% cash back at grocery stores and 1% cash back on everything else.
    • Example: How much do you spend on dining and entertainment? It may be more than you think. The average American household spends almost $2,500 on entertainment and $3,000 on dining out. If they put all those expenses on the Capital One Savor, they would earn $220 cash back on those purchases alone on an annual basis.
    • Bottom Line: If your family is a regular at local eateries, then you should seriously consider the Capital One Savor as your next credit card.
    • Welcome Offer

      $300 with $3,000 spend within first three months from opening account

    • Annual Fee

      $95, waived for the first year

    • Credit Score

      Good - Excellent

Chase Sapphire Preferred

  • Chase Sapphire Preferred: Best for Families Who Travel
    • Basics: If your family is more of a camping or staycation type, you probably don't need a travel credit card. But if you're routinely paying for tickets for all your kids across the country or around the world, getting free flights from a card like the Chase Sapphire Preferred certainly sounds nice, doesn't it? This card gives you two Chase Ultimate Rewards points per dollar spent on travel and dining worldwide and one point per dollar spent on all other categories. By our math (see below), each point is worth 1.25 cents each when you redeem for travel through Chase Ultimate Rewards, making your return 2.5% on travel and dining spending and 1.25% on other categories.
    • Example: If you book through Chase Ultimate Rewards, you can use 60,000 points to cover $750 worth of travel. This comes out to a value of 1.25 cents per point. Because you earn two points per dollar spent on travel and dining worldwide, your return on spend is essentially 2.5% for these purchases since 1.25% x 2 = 2.5%.
    • Bottom Line: This card is an excellent basic travel card for families who travel once or twice a year. If you travel more frequently than that, a more premium card such as the American Express Platinum or Chase Sapphire Reserve may be a better option.
    • Sign-Up Bonus

      60,000 points with $4,000 spend within first three months from opening account. Since 60,000 points is worth approximately $750 when they are redeemed for travel through Chase Ultimate Rewards, this results in an 18.75% return on spend from the bonus alone.

    • Annual Fee

      $95

    • Perks

      • Doordash delivery fees with a DashPass subscription
      • No foreign transaction fee

AmEx Platinum Card

  • American Express Platinum Card: Best for Military Families
    • Basics: The American Express Platinum Card gives you five Membership Rewards points per dollar spent on airfare purchased directly from the airline as well as on airfare and hotels booked through Amex Travel and one point per dollar spent on other categories. It comes with a ton of perks, and its $550 annual fee is waived for any member of the U.S. Armed Forces on active duty.
    • Our Math: Through Amex Travel, you can use 50,000 points to cover $500 worth of travel. This comes out to a value of 1 cent per point. Because you earn five points per dollar spent on the travel categories specified above, your return on spend is essentially 5% for these purchases.
    • Bottom Line: If you're both a frequent flyer and a frequent diner who will also put all of this card's generous perks to work, this is a phenomenal premium travel card.
    • Welcome Offer

      60,000 points with $5,000 spend within first three months from opening account. Since 60,000 points is worth approximately $600 when they are redeemed for travel through Amex Travel, this results in a 12% return on spend from the bonus alone.

    • Annual Fee

      $550, waived for any member of the U.S. Armed Forces on active duty

    • Perks

      • $200 airline fee credit
      • $200 Uber credit
      • $100 credit for Global Entry or TSA Pre✓
      • $100 hotel credit
      • $100 Saks Fifth Avenue credit
      • Priority Pass, Delta, and Centurion lounge access
      • Hilton Honors Gold Status
      • No foreign transaction fee

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Logan Allec, CPA

Logan is a CPA, Certified Student Loan Professional, and founder of Money Done Right, which he launched in July 2017. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.

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