Credit cards for stay-at-home parents or guardians

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Having one parent or guardian stay at home to help with the household and the kids can be a huge benefit for families, but that doesn’t mean it doesn’t have its downsides. Although it might be necessary for one parent or guardian to remain home to care for children, elderly relatives or pets, living on one income can be a challenge.

One challenge for those who stay at home is building credit. Historically, it has been difficult for non-working spouses or partners to maintain credit, mostly because they don’t have any income to qualify for their own credit cards and loans. But it doesn’t need to be a challenge. Plenty of cards for stay-at-home parents or guardians are available in all income brackets that are affordable, accessible and rewarding.

Comparing the best cards for stay-at-home parents or guardians

Best credit cards for stay-at-home parents or guardians

While it’s hard to say which credit card is best for all stay-at-home parents or guardians, there are some that offer more benefits and rewards than others. The cards below can help rack up rewards in common spending categories, like groceries and dining, and build credit at the same time.

While the cards we list are a good starting place, also make sure you check out and compare all the cash-back credit cards and rewards credit cards available on the market today.

How to get a credit card as a stay-at-home parent or guardian

Fortunately, stay-at-home parents or guardians are no longer left out of the loop when it comes to good credit. Maintaining a good credit score became a much easier feat in 2013, when the Consumer Financial Protection Bureau (CFPB) updated regulations to ensure stay-at-home spouses or partners would have an easier time getting approved for credit cards. These new regulations let stay-at-home applicants list “household” income on their credit card and loan applications, which is a big help when they do not earn income on their own.

With this new regulation, if you are a stay-at-home parent or guardian, you can apply for a credit card just like anyone else, except you can list your household income, including your partner’s or spouse’s income and other income sources, on your application. This makes it a lot easier to get approved for a meaningful credit limit that can help you maintain good credit for the long haul.

How to build credit as a stay-at-home parent or guardian

If your goal is building credit as a stay-at-home parent or guardian, a credit card can definitely help. Credit cards report your credit movements, including history, payments and more to all three credit reporting agencies, which can help you boost your credit score over time. However, using a card to build credit works best when you use credit responsibly from the start.

Here are some tips that can help you build credit:

• Use your credit card for purchases every month that you have the cash to pay off right away.
• Pay your credit card bill early or on time each month, since your payment history is the most important factor that makes up your FICO score.
• Keep your credit utilization ratio as low as possible — most experts recommend less than 30 percent.
• Refrain from opening or closing too many cards at once because it can hurt your credit score over time.

If you follow these steps and avoid getting into long-term debt, you’ll steadily build credit as a stay-at-home parent or guardian. Just remember that it’s always wise to avoid accruing credit card interest if you can and to make sure you have access to household funds you can use to pay your bill before you apply.

Frequently asked questions

• What kind of rewards are best for stay-at-home parents or guardians?

  Credit cards offering cash-back on groceries and dining are well-suited for stay-at-home parents or guardians. They provide bonus rewards in common spending areas and help build credit history.

• Can you get a credit card if you are a stay-at-home mom, dad or guardian?

  Thanks to CFPB regulations, stay-at-home parents and guardians can apply for credit cards by listing household income on their applications, which can include a spouse’s or partner’s income. When applying, report all sources of income and manage the card responsibly to maintain good credit.

• How do stay-at-home parents or guardians build credit?

  Stay-at-home parents and guardians can build credit by becoming authorized users on a partner’s credit card, using credit cards for daily purchases and ensuring timely payments.

The bottom line

As a stay-at-home parent or guardian, it’s important to make sure you’re maintaining a strong credit profile. Although your household might have financial security, you should still find a way to prioritize your own financial security and standing. The right credit card will enable you to earn rewards and build credit at the same time.

Be sure to compare different options and follow responsible credit habits to successfully build your credit as a stay-at-home parent or guardian. Don’t let your non-working status hold you back — take control of your credit and secure a better financial future for you and your family.