Funding Your Adoption with a Credit Card

Using a credit card to help pay for your adoption related expenses, or "borrowing" on your credit card, should be one of the last tools you take of the toolbox, but it is an option that many have used to help pay for the costs of adopting.

for California

Sometimes the deadline for payment of adoption related fees arrives before a family can raise the funds. A credit card is a way to pay the immediate fees while generating the extra income needed. As the income is generated, immediately pay the balance of your credit card. Don't be tempted to pay off the balance later.

Just as with other types of loans, use only what you'll be able to repay; just because it is available doesn't mean you should use it. Then pay off the full balance as quickly as possible. Shop around for the lowest possible interest rate with no annual fee. If you can pay off the entire balance within the introductory period of a zero interest credit card, you can use this option free of interest.

If this is your first time applying for a credit card, visit the Federal Trade Commission (FTC) Credit website to learn more about the terminology and plan options when applying for a credit card. Carefuly read all of the terms of the credit card plan before you sign the agreement form.

Once you have the credit card, be careful to protect your information. Save your reciepts, reconcile your bill every month, and read our section on maintaining a favorable credit report.

If you feel a credit card is necessary, the National Adoption Foundation offers a low interest Visa Platinum Card for qualifying adoptive families. If you do not qualify or you choose to go a different route, look into a mileage reward credit card. Plans vary, and you might be able to earn miles toward your travel to bring home your child.