If you’re trying to save money as a family, there’s a good chance that you’ve intentionally steered yourself away from credit cards. This is totally understandable, as credit cards can be a dangerous trap for some people. However, many families can benefit significantly from certain credit cards, like the Chase Freedom Flex credit card, which has numerous benefits that can seriously help families. Here are a few of those benefits.
1. Extra Cash Back Percentages on Certain Categories
Families naturally spend more money than singles or couples, but there are some categories where that extra spending is more dramatic and pronounced, like grocery shopping. The good news is that many credit cards offer extra cash back percentages on those specific categories – grocery is a good example of this. That extra cash back can help families even more than singles and couples.
2. Benefits as Partners With Other Brands
Many credit card companies partner with other brands to provide you sneaky little extras that you can take advantage of as a credit card holder. Whether the benefit is special insurance, extra cash back when you buy at certain retailers, or helpful discounts, these partner benefits can help you save even more throughout the year, which is a great addition to the benefits you might get from the company themselves.
3. Sign-On Bonuses
Sign-on bonuses are incredibly common in the world of credit cards. If you want to save as much money as possible with your credit card, you’ll want to look for a sign-on bonus, as well as what you need to do to be eligible for that bonus. Typically, it has to do with making a certain dollar amount of purchases within a certain amount of time after getting approved for the card. Make sure you meet that sign-on bonus condition, as it can be multiple hundreds of dollars that you’ll get essentially for free.
4. Special Interest Financing
It’s common for credit cards to come with some kind of special financing offers. Whether those offers are 0% interest for the first few months, lowered or 0% interest on purchases over a certain dollar amount, or something else entirely, that special financing can be a great way to save on your purchases. You just need to make sure that you’re using the card appropriately – an introductory financing offer can be a great way to pay for a large upcoming purchase over time without having to pay any interest on it.
It’s understandable that families shy away from getting credit cards. Many families are worried about the financial stress that credit cards can put them under if not used appropriately. However, in that worry, those families may not realize that a credit card can be immensely helpful if they are used well. These four benefits are all very helpful for families, and that’s a great reason you might want to consider using one. As long as you use it appropriately, a credit card can be very helpful for families.