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Best Credit Cards for Families in 2020

Best Credit Cards for Families in 2020

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Dec 30, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Whether shopping for back to school clothes, groceries for packed lunches or tickets to a theme park, covering family expenses can really add up. So why not sign up for a credit card that could earn you cash back or special savings on those purchases?

In this post, we break down several credit cards to help determine which card is best for you based on where your family spends the most.

In this article:

Best for everyday purchases — Blue Cash Preferred® Card from American Express

Blue Cash Preferred® Card from American Express

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on American Express's secure site

Terms and Conditions apply

Rates & Fees

  • $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.*

  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions and 1% Cash Back on other purchases.

  • 1% back on other purchases*

Highlights
  • Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 6% Cash Back on select U.S. streaming subscriptions.
  • 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases.
  • Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, currently 13.99% to 23.99%.
  • Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee and no interest.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
  • $95 Annual Fee.
  • Terms Apply.
  • See Rates & Fees

See additional details for Blue Cash Preferred® Card from American Express

More Info

The Blue Cash Preferred® Card from American Express is ideal if you want to earn a generous amount of cash back on everyday purchases, such as at supermarkets, gas, transit and more. This card offers 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions and 1% Cash Back on other purchases. Plus, cardholders earn a $250 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.

What to look out for. The Blue Cash Preferred® Card from American Express comes with an annual fee of $95. However, if you reach the spending maximum by making $6,000 in purchases at U.S. supermarkets in a calendar year, you’ll earn $360 back from those purchases, which can offset the annual fee.

To see rates & fees for Blue Cash Preferred® Card from American Express please click here.

Best for gas purchases — Costco Anywhere Visa® Card by Citi

  • 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases

  • 0% fee for transactions while traveling abroad

  • $0 annual fee

Highlights
  • Discover one of Citi's best cash back rewards cards designed exclusively for Costco members
  • 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
  • 3% cash back on restaurants and eligible travel purchases
  • 2% cash back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases
  • No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
  • Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
  • The standard variable APR for Citi Flex Plan is 15.24%. Citi Flex Plan offers are made available at Citi's discretion.

See additional details for Costco Anywhere Visa® Card by Citi

More Info

If you have a long daily commute to work or are constantly driving your kids to school and extracurricular activities, chances are you spend a significant amount on gas each month and can benefit from a gas rewards credit card.

The Costco Anywhere Visa® Card by Citi currently offers a very high rewards rate on gas purchases. Cardholders earn 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases.

Note, gas purchased at superstores, supermarkets, convenience stores and warehouse clubs other than Costco, as well as fuel used for non-automobile purposes, does not qualify for the cashback rate.

What to look out for. Although the Costco Anywhere Visa® Card by Citi comes with a $0 annual fee, it does require a Costco membership — which costs $60 per year for a Gold Star membership and $120 per year for a Gold Star Executive membership at the time of publishing.

Additionally, there are strict limitations on how you redeem your rewards. Your Costco cash rewards can only be redeemed for merchandise or cash back at Costco warehouses located in the U.S., including Puerto Rico. Plus, your rewards — which are only distributed one time per year (after your February billing statement closes) — must be redeemed by Dec. 31 of the year they are issued.

Best for internet, cable and phone services — Chase Freedom®

You can earn cash back on internet, cable and phone services when you use your Chase Freedom® card to pay those bills during the first quarter of 2020.

Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases.

From Jan. 1 through March 31, Chase Freedom® cardholders earn the higher cash back rate on purchases for internet, cable, satellite tv and radio, cellular, wireless data and landline services, as well as on gas station purchases and select streaming services. Note, equipment purchases do not qualify.

Additionally, cardholders earn a $200 bonus after spending $500 on purchases in your first 3 months from account opening.

What to look out for. You can only earn the higher cash back rate on the first $1,500 spent in the bonus category each quarter. That said, if you reach the spending maximum each quarter, you’ll earn $300 cash back in a year.

Note, you must activate the first quarter bonus category by March 14 to earn 5% cash back on internet, cable, phone services, select streaming services and gas station purchases.

Read: Chase Freedom® 5% Bonus Category Calendar

Best for online purchases — Bank of America® Cash Rewards credit card

If you prefer the convenience of buying food, cleaning items, clothes, electronics, toys and other items online, you can earn cash back when doing so with the Bank of America® Cash Rewards credit card. The card offers 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, 1% cash back on every purchase.

If you select “online shopping” as your choice category, you can earn the higher rate at Amazon.com, Ticketmaster.com, Etsy.com, Walmart.com, Bestbuy.com, Target.com, Macys.com and much more.

Additionally, the Bank of America® Cash Rewards credit card gives you a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

What to look out for. You can only earn the rewards rate on the first $2,500 in combined purchases in the choice, grocery store and wholesale club categories each quarter. However, if you max out the 3% rate by spending $2,500 on online purchases during the fourth quarter of 2019, you’ll earn $75 cash back on those purchases by the end of the year.

Best for dining and entertainment — Capital One® Savor® Cash Rewards Credit Card

If your family eats out frequently or attends concerts and other entertainment events regularly, the Capital One® Savor® Cash Rewards Credit Card is a great option. The card offers unlimited 4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through Jan 2022. Additionally, cardholders earn 4% cash back on select streaming services, including Netflix, Hulu and Disney+, through Sept. 30, 2020.

Cardholders also Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening.

What to look out for. The Capital One® Savor® Cash Rewards Credit Card comes with an annual fee of $0 intro for first year; $95 after that.

Note, if you don’t want the burden of paying an annual fee after the first year, and you don’t mind earning a lower rewards rate on dining and entertainment purchases, you should consider the Capital One® SavorOne® Cash Rewards Credit Card instead. The card comes with a $0 annual fee and offers 3% Cash Back on dining; 3% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases; as well as 3% Cash Back on select streaming services through Sept. 30. Plus, cardholders Earn a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening.

Best for a Disney vacation — Disney® Premier Visa® Card

Along with Disney-related perks and discounts, the Disney® Premier Visa® Card offers cash back on every purchase: Earn 2% in Disney Rewards Dollars on card purchases at gas stations, grocery stores, restaurants and most Disney locations. Earn 1% on all your other card purchases.

Disney Rewards Dollars can be redeemed for Disney experiences, including Disney Theme Park tickets, resort stays, shopping, dining, movies, cruise lines and more. You can also redeem Rewards Dollars for a statement credit toward airline travel.

The Disney® Premier Visa® Card also offers 10% savings on select Disney purchases, as well as a 0% Promo APR for the first six months on select Disney vacation packages from the date of purchase (then an APR of 17.74% Variable).

What to look out for. The Disney® Premier Visa® Card charges an annual fee of $49. However, the sign-up bonus alone more than covers the annual fee during the first year of card membership: Earn a $200 Statement Credit after you spend $500 on purchases in the first 3 months from account opening with a new Disney Premier Visa Card.

If you want to take advantage of Disney perks without paying an annual fee, the Disney® Visa® Card is a good alternative. With the $0 annual-fee card, you Get a $50 Statement Credit after first purchase with a new Disney Visa Card. Earn 1% in Disney Rewards Dollars on all card purchases Additionally, cardholders receive a 0% Promo APR for the first six months on select Disney vacation packages from the date of purchase (then an APR of 17.74% variable).

The bottom line

Ultimately, the right credit card for your family comes down to where you spend the most each month. For example, if you dine out frequently and don’t mind paying an annual fee after the first year, the Capital One® Savor® Cash Rewards Credit Card is a great option. However, if you do the majority of your shopping online, you should consider the Bank of America® Cash Rewards credit card. Or, if you’re planning a family vacation to Disney World next year, you can earn Disney Reward Dollars with the Disney® Premier Visa® Card that can be redeemed toward park tickets, resort stays, cruise lines and more.

The information related to these cardsDisney® Premier Visa® Card, Disney® Visa® Card and the Chase Freedom®
have been independently collected by CompareCards and have not been reviewed or provided by the issuer of these cards prior to publication.


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