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Best Credit Cards for Daycare Expenses

Aug. 04, 2019
4 min read
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Daycare expenses seem to be never ending for parents. The average cost of center-based daycare in the United States is nearly $1,000 per month. Of course, this price widely varies based on location. To add to this large monthly expense, some daycare centers are beginning to offer ancillary products, such as internet viewing for parents, for an additional charge.

While these costs aren't going to slow down anytime soon, credit cards can help alleviate the pain a bit. However, be sure when you are 'shopping' around for childcare in your area, ask if they have any fees when using a credit card.

Here are the best credit cards for daycare expenses.

The Blue Business®️ Plus Credit Card from American Express

Welcome offer: Earn 15,000 points after spending $3,000 in the first 3 months of account opening

With the Blue Business Plus Credit Card, earning points couldn't be simpler. You will earn 2x per dollar on the first $50,000 in purchases per calendar year, and 1 point per dollar afterward with no annual fee (see rates and fees).

Along with this, you will have a 0% intro APR on purchases for 12 months from date of account opening, then a variable rate, 13.24%-19.24%, based on your creditworthiness and other factors as determined at the time of account opening) (see rates and fees).

With TPG's valuation of American Express Membership Rewards at 2 cents per point, you will be able to earn 4 cents per dollar in value back for your daycare expenses if you are within the $50,000/year mark.

Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card is a perfect card for someone looking to earn miles without the hassle of spending categories. With this card, you will earn 2 miles per dollar (worth 2.8 cents, according to the latest TPG valuations) on all purchases. You can also earn 60,000 bonus miles after you spend $3,000 on purchases within the first three months of account opening.

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This card has a $95 annual fee.

Chase Freedom Unlimited

If earning cash back is more to your liking, the Chase Freedom Unlimited could be the right fit for you. You will earn $200 after spending $500 on purchases in the first three months of account opening.

Along with this, you will have a 0% intro APR on purchases and balance transfers for 15 months from account opening (then variable APR of 14.99% - 24.74% applies).

The Business Platinum Card® from American Express

This one is a long-shot, but it is worth mentioning. The Business Platinum Card from American Express is an appealing card because of the incredible perks. However, it does come with a steep $595 annual fee; $695 if application received on or after 1/13/2022 (see rates and fees), but there is a reason to mention this card when it comes to daycare services.

The welcome bonus for The Business Platinum Card is currently 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first three months of card membership. For many people, spending $15,000 in three months is a heavy ask. However, if you are able to pay ahead for childcare and pay your balance off, this could be a perfect opportunity to score a lot of American Express Membership Rewards points.

If that pill is too much to swallow at once, you may want to consider the traditional Platinum Card® from American Express to score some valuable points.

Bottom Line

Paying for daycare is never a fun expense. However, it can be mitigated with some major points earnings.

One other points to keep in mind - if your daycare service does not accept credit cards, ask if they will accept from a bill pay service like Plastiq. While there are fees to use Plastiq, it may just be worth it to earn that next welcome bonus.

For rates and fees of the Blue Business Plus card, click here.
For rates and fees of the Amex Business Platinum card, click here.

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.