These 3 Credit Cards Offer Big Savings for Parents

Raising the next generation of good citizens is tough work -- tough on the soul and tough on the wallet. Parents are projected to spend on average $237,482 to raise an infant to the age of 18, according to LendingTree. Depending on where you live, that could be enough to buy a small house.

While kids don't make it easy to save money, putting your essential purchases on certain credit cards could help you manage your budget. Plenty of the best credit cards could help parents, but if I had to narrow it down, here are three you should consider.

1. Costco Visa Card

For loyal Costco members, the Costco Anywhere Visa® Card by Citi could be a good pick. The card earns 2% back on all purchases from Costco and Costco.com, plus 3% back on restaurants and eligible travel and 4% on eligible gas and EV charging (up to $7,000 per year) (terms apply, see rates and fees).

Remarkably, it doesn't have a welcome offer (not even a free hot dog!). Its 2% earn rate on Costco store shopping is also pretty puny in comparison to Amazon's credit card. You also only get cash back once a year as a store voucher, which can be frustrating if you like "earning and burning," or spending rewards as you earn them.

Still, earning 4% back on gas is one of higher earn rates for that category. And besides, you might actually prefer converting all the cash back you earn into a Costco shopping spree.

2. Prime Visa

From toys to groceries to school supplies to clothes, Amazon is a one-stop shop for your kids' needs. But if you're shopping on Amazon with anything but the Prime Visa, you could be leaving some significant savings on the table.

For Prime members, the Prime Visa earns 5% back on Amazon, AmazonFresh, and Whole Foods, and Chase Travel purchases with an eligible Prime membership. It also earns 2% back on restaurants, gas stations, local transit, and commuting. If you don't have a Prime membership, you could opt for the Amazon Visa, which earns 3% back on Amazon and Whole Foods purchases (terms apply, see rates and fees).

With both cards, you can redeem cash back as soon as the next day. This is better than other cash back credit cards, which may require you to wait a few days or even as much as a month or longer to use your rewards.

What I really love about the Amazon credit cards is that they give you an option to earn 3% or 5% on an array of purchases. This includes books, electronics, toys, games, puzzles, medicine, food, diapers, and clothes. Without the Prime Visa, you might need several credit cards with different earn rates to get 3% or 5% back on these categories.

3. Capital One SavorOne

No matter the age of their kids, all parents need a good grocery credit card. But when a grocery card can also double as a dining out card plus entertainment card, that's a win-win-win, otherwise known as the Capital One SavorOne Cash Rewards Credit Card.

The Capital One SavorOne Cash Rewards Credit Card is a no fee credit card (see rates and fees) that earns 3% back at grocery stores, restaurants, popular streaming services, and entertainment. It also earns a whopping 10% back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024 (terms apply).

The card also has a sweet welcome offer of $200 Cash Back when you spend $500 within the card's first 3 months.

All in all, these three credit cards will help you earn extra cash back for necessary spending on your kids. You might even want to add a travel credit card to the mix, if your family likes to take vacations. And if you're not sure about these cards, take a look at our best credit cards for families for more options.