Having a Baby? Here's How the Right Credit Card Can Help

by Maurie Backman | Published on Oct. 8, 2021

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Pregnant woman holding credit card while using laptop with another woman looking over her shoulder.

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Adding a child to your family can be expensive. Here's how credit cards can help offset your new costs.

There's nothing like welcoming a new baby into your family. But that little bundle of joy might result in a host of bills.

For one thing, if it's your first baby, you'll need a bunch of gear. Your baby will need a place to sleep, and you'll need a changing table, stroller, car seat, and a host of other items just to function with an infant.

Then there are the inevitable ongoing expenses babies bring about, like diapers, wipes, and clothing. Plus, if you'll be working, you'll need to deal with the ever-astronomical cost of childcare.

All of these expenses might seem overwhelming, especially if you're grappling with them for the first time. And that's why it's so important to choose the right credit cards to help cover the costs.

How credit cards could soften the blow of new baby expenses

When you bring a baby into the mix, spending more money is generally unavoidable. But the right credit cards could put extra cash back in your pocket, thereby making those expenses more manageable.

Some credit cards offer extra cash back on grocery store purchases, for example. So if you'll be buying a lot of diapers and formula at the supermarket, you should also see more cash back as a result.

Also, while babies don't need solid foods for the first number of months, in time, you'll need to start feeding your little one infant cereals and purees. Those can add to your grocery bill, but choosing the right credit card could help offset your higher costs.

If you'll be purchasing a lot of gear ahead of your baby's arrival, you could easily score a pile of cash back if you apply for a new credit card with a generous sign-up bonus. Some credit cards offer terrific deals, like $500 cash back for spending $3,000 within three months of opening your account. Now that normally might be a tough spending threshold to meet. However, if you'll be buying a crib, stroller, and a host of other gear for your baby, you might easily spend over $1,000 on those initial purchases alone, thereby making it possible to meet the spending requirement for a big bonus.

Are you prepared with the right credit cards?

You'll often hear that there are certain financial moves worth making before you have a baby, like beefing up your emergency fund and pricing out the cost of adding your child to your health insurance plan.

In addition to checking those items off your list, do an assessment of your current credit cards and make sure their reward programs suit your needs. If not, it could pay to apply for a new card so you can get more money back for the ongoing baby expenses you'll be absorbing.

Similarly, compare credit cards and look into different sign-up bonuses to find one that fits your changing needs. Getting a nice chunk of cash back could ease some of your financial stress as you adjust to life with an infant.

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