Video: Planning for a baby with the right card

 

Babies bring love, joy – and bills. Strategizing how you’ll pay those bills ahead of time can make the transition easier and help you bank some much-needed credit card rewards in the process.

Here are a few tips that will help you get the most out ouf your credit card as you welcome the new member of your family.

1. Use a great rewards card for doctor and hospital bills.

The biggest chunk of money you’ll spend will likely be on doctors and hospital bills, making choosing the right rewards card crucial. Go for a card with generous cash back offer. Several cards in today’s market now offer an unlimited 2 percent back on all your purchases.

2. Pick the right card for your new lifestyle.

If you’re used to collecting travel rewards, consider if you’ll be needing all those airline points in the near future. With a baby, you may be more homebound and find a cash back card more useful. Or, if you anticipate having a balance on your card, go for a 0 percent interest card so you don’t have to worry about extra costs as you’re worrying about an extra mouth to feed.

3. Find the right retail card to save big.

If you’re not a fan of retail cards, you’re not alone. But this is one time where they can save you a lot money as you purchase a stroller, bassinet, crib, baby monitor, car seat and other big-ticket items. Find a retailer that offers a great discount for all of your purchases with the store card, not just when you sign up.

4. Find stores that reward for registries.

Register with as many retailers as possible, since many baby stores will offer the parents an extra discount for purchases if they are registered. Sites like Amazon will offer you an extra 15 percent discount if you end up buying everything that is left on your registry.

As you spend more time cuddling and kissing, it will feel extra comforting to know your card is delivering a little gift of its own as you embark on the journey of parenthood.

See related: Learn how to maximize card rewards for family fun, saving, Video: 3 ways to help your kids build credit


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Updated: 12-15-2017