There are best credit cards for single mons that earn cash back or rewards cards. Though, being a single parent is one of the most challenging tasks anyone could ever undertake.
There are many credits cards options to choose from that help ease the financial burden of becoming a single mom. Read on to know more.
Best Credit Cards for Single Moms
The best credit cards for single moms are ones that offer a large sign-on bonus, offer bonus points for certain types of shopping behaviour. Plus, a higher percentage for regular purchases.
The best credit card for rewards helps single mom lower their credit card balance every month or put cash back into the bank account when there is no money.
Let’s take a look at a few of the things you should consider when choosing a new credit card for your family, cards should be at the top of your list.
Things to Consider Before You Choose
When planning to get a card in a single mon, here are some factors to consider:
Where to spend most of your money: This is one of the factors to consider. One of the benefits of credit cards today is the ability to earn rewards. These are redeemable for cash back, gift cards, travel bookings, and more earned when you spend money with said card.
This makes it important to know how much your family spends and where. You will want to choose a card that rewards you for the grocery store and restaurant purchases if you have a teenage son or daughter.
How You Want to Redeem your Earned Rewards
There are some credit cards that offer you a number of options, ranging from statement credits to issued checks, gift cards, or travel vouchers. Other cards, though, might only allow you to redeem your points for gift cards. Be sure that the card you choose allows you to spend those rewards in the way that suits you best.
Consider Your Travel Rate
There are cards that offer frequent fliers with perks like airline status, rental car upgrades, free checked bags, and even complimentary TSA Precheck Entry.
Consider the Annual Fee
You should consider the annual fee before choosing any card. Even if an annual fee makes sense for your family depends on how much you plan to spend on the account, the benefits you will use, and whether you will make more of the card than you will spend.
If the benefits offered are things that your family will use, and/or you’ll earn more in rewards with the card than you’ll spend, an annual fee is worth considering.
Consider if you have a high-interest debt
If you have high-interest debt, especially in the form of another credit card balance, the right card can be an asset. That is because a lot of cards will offer new cardholders an introductory balance transfer offer, often 0% interest for a period of time.
Best Credit Card for Parents
Most parents spend more on gas and groceries than ever before, they like saving money when they can, and they have a never-ending laundry pile. Here are the best credit cards for parents:
Kroger REWARDS Prepaid Visa Card
- Annual fee: no annual fee, but a monthly fee of $4.95
- Sign-on bonus: $10 the first time you load the card
- Introductory offer: None, because as a prepaid card, there is no interest charged
- Cost of additional cards: $1.50
- Rewards Rate: earn 3X point per dollar purchase on Kroger stores, 2X points per dollar spend on store and $1 on every purchase
The Kroger prepaid visa card is a good card for both parents. It is a prepaid debit card, not a credit card. This card is issued by the largest grocery store chain in the country.
However, everyone needs to purchase groceries, especially families. And every purchase you made will earn you a point toward free groceries, as well as get discounts on gasoline purchases at Kroger stores.
Another benefit of this card is that it helps save five cents per gallon on gasoline purchased at Kroger gas station. Additionally, no hold is placed on your card as is common practice with gas stations.
Blue Cash Preferred Card from American Express
- Annual fee: $95
- Welcome bonus: earn $350 back after you spend $3,000 on the card within six months.
- Into offer: 0% APR on purchases for 12 months from the date of account opening.
- Reward Rate: 6% cash back at US grocery store, 6% cash back on Streaming subscriptions, 3% cash back at the US, 1% cash back everywhere else.
The Blue Cash Preferred Card from American Express is the holy grail of grocery shopping. This card offers an impressive reward rate of 6% cash back on spending at U.S supermarkets and 3% cash back at U.S gas stations. Plus, 1% cash back on other purchases.
When you apply for this card, you will benefit from return protection, roadside assistance, secondary rental car coverage, lost/damaged phone coverage, and more benefits.
Chase Sapphire Preferred Credit Card
- The annual fee is $95
- Welcome Bonus is 60,000 points after you spend $4,000 on the card within 3 months.
- Into offer is $0
- Reward Rate is 5X points per dollar spent on travel purchases, 2X spent on other travel purchases, plus 3X spend on dining and 15 for every purchase everywhere.
- The cost for the additional card is non
This card is good for parents that love travelling. It provides some incredible protections for cardholders and adds that to the excellent rewards.
It offers benefits to families such as its extended warranty, primary rental car coverage, purchase protection, travel delay coverage and more.
In addition, if an airline has ever lost your bag for a few days, you will recognize the value of the Sapphire Favored Card baggage delay protection. Combined with a 25% bonus on travel points redemptions, this card makes it easy for your family to travel
Best Credit Card for Single Moms
Life is crazier when you are a single mom, which makes the right credit card that can save your money and simplify your life so much more important. Here are credit cards for single Mom:
Amazon Rewards Signature Visa Card
- The annual fee is non, but you are required to have an Amazon Prime Membership
- The welcome bonus is a $50 Amazon gift card when you sign up
- Into offer is non
- The cost of the additional card is non
- Reward Rate is 3% cash back on Amazon.com whole foods, 2% back at gas, and 1% back everywhere else purchase.
- Rewards redemption options include gift cards, travel, statement credits, or use shop with points when buying on Amazon.
This card is an amazon credit card for single moms as it offers a lot of nice reward rates. If you’re buying on Amazon and/or Whole Foods anyway, this card is a good (no-fee) way to earn more.
Redemptions are incredibly easy, and you’ll also earn on things like gas and restaurants.
With the Amazon Rewards Signature Visa Card, you’ll not only earn cash back on those purchases but everything else you buy, too.
Citi Double Cash
- Annual fee is $0
- Sign up bonus is $0
- The cost of additional cards is $0
- Into Offer is $0 APR on balance transfer for 18 months
- Reward rates include 2$ flat cash back on everything purchased and $1 back when you buy + $1 back
- Rewards redemption options can be used to get statement credits to a check issued to you.
This credit card for single moms earns flat-rate cash back on everything you buy everywhere, without an annual fee to worry about. As a single mom, you started earning 2% flat cash back on everything.
The card is easy to operate especially for single moms and there is nothing to track and nothing to remember with this card.
Bank of American Cash Rewards Card
- Reward rates include 3% cash back in the purchase category, $2 cash back at story stores and 15 cash back for all purchases.
- Intro offer: $200 online cash reward once you make at least $1,000 in purchases in the first 90 days of opening an account.
- The balance transfer APR is 0%
This Bank of AMERICA customized cash rewards credit card is best for single mon as it earns 3 cashback in a selected purchases category.
Additionally, you will earn 2% at supermarkets and wholesale clubs and 1% everywhere on your purchases.
Capital One Secure Mastercard
- The reward rate includes 3% cash back on groceries at US supermarkets, 2% cash back on gas at US gas stations, 2% cash back at select department stores and additional 1 cash back on every sale.
- Annual Fee is non
- Regular APR IS 15.49% – 25.49% Variable
- Into Offer is $200 back after spending $2,000 in purchases on your new card in the first 6 months.
This is another good credit card for a single mom. This secured credit card for single mon look forward to building or rebuilding the credit card. When you make a minimum required security deposit, you will be able to get an initial credit line of $200.
If you have bad credit or no credit, the Secured Mastercard® from Capital One® is a good option for you due to relatively easy application requirements and the absence of an annual fee on the credit card. This credit card allows you to be considered for a better credit line in only 6 months.