How to choose a credit card for your family

A credit card can be a handy financial tool for managing your household budget and supporting your desired lifestyle.

But with so many different credit cards on the market, how do you know which card will best suit your family?

Should you be looking for the lowest interest rate, or are rewards programs linked to travel or weekly grocery purchases more important to you?

Heres how different types of credit cards could work for your family.

Prefer convenience at a low cost?

Some credit cards offer fraud and purchase protection, which may make them the safer option for certain purchases, such as hotel rooms, flights, products offering a warranty, online purchases and big-ticket items like household appliances and electronics.

If you like the convenience of plastic but prefer to minimise costs, you might want to consider a low fee credit card or low rate credit card. These might not come with the fancy rewards of other cards, but both are good options if youre looking for a backup card or something for your children to use in emergencies.