what about apps? itunes is music, movies, books, apps anything from apple. By using one itunes account you can share purchases, that is basically the only advantage. You would have one account to pay for things, that may be a disadvantage it you don't want to mix $$.
I don't use a credit card for itunes, we use itunes cards. It is my account and I keep a balance in it. when a kid buys a song or whatever they put the money in an envelope from which I buy more itunes cards.