Home improvement projects can be exciting but often involve significant expenses. Whether renovating your kitchen, upgrading your backyard, or making minor repairs, using the right credit card can help you save money, earn rewards, and manage your finances better. This guide will explore the best credit cards for home improvement projects and how they can benefit you.
Why Use a Credit Card for Home Improvement?
Using a credit card for home improvements can be advantageous in several ways. Many credit cards offer cash back or rewards on home improvement purchases, allowing you to earn while you spend. Some cards provide 0% APR for a set period, helping you finance your project without paying interest. Many credit cards offer purchase protection, covering damages or theft for a limited period, and extended warranties on items bought. Credit cards also provide an easy and secure way to pay contractors, purchase materials, and track expenses.
Now, let’s explore some of the best credit cards that can help you maximize these benefits.
Chase Freedom Unlimited®
This card allows you to earn 1.5% cash back on all purchases and offers 0% APR for 15 months on purchases. It is best suited for a straightforward cash-back card with no rotating categories. Additional perks include purchase protection and extended warranty benefits. This card is excellent for general home improvement spending, especially if you don’t want to track rotating categories or enroll in special programs.
Lowe’s Advantage Card
This card provides a 5% discount on eligible purchases at Lowe’s and offers special 6-month financing on purchases of $299 or more. It is best for regular Lowe’s shoppers who want immediate savings and financing options. Additional perks include special discounts and promotional financing on large purchases. If you frequently shop at Lowe’s, this card is a no-brainer. The 5% discount can add up quickly, and the financing options help manage more significant projects.
Home Depot Consumer Credit Card
This card offers up to 24 months of special financing on select purchases, making it a good option for Home Depot customers needing funding for large purchases. Additional perks include exclusive promotions and discounts throughout the year. While this card doesn’t offer rewards, it is a solid choice if you need extended financing.
Citi® Double Cash Card
The Citi Double Cash Card offers 2% cash back on all purchases—1% when you buy and 1% when you pay off your balance. It is ideal for homeowners who want high cash-back earnings on all purchases. Additional perks include no annual fee and flexible redemption options. This card is perfect for those who want to maximize their cashback on all purchases, including home improvement expenses.
U.S. Bank Cash+® Visa Signature® Card
This card lets you choose two 5% cashback categories, including home improvement stores. It is best for homeowners who plan to spend significantly at these stores. Additional perks include 0% APR for 15 months on purchases and balance transfers. If you’re undertaking a significant renovation, selecting home improvement stores as a 5% cashback category can lead to substantial savings.
TD First Class Travel Visa Infinite Card Review & TD Aeroplan Visa Infinite Card Review
While these cards are primarily travel-focused, they can still be helpful for home improvement projects, especially if they offer bonus points on everyday spending or large purchases. Some travel credit cards also provide strong purchase protection and extended warranties, making them worth considering for big-ticket home purchases.
Tips for Using Credit Cards for Home Improvement Projects
If you’re using a card with a 0% introductory APR, ensure the balance before the promotional period ends to avoid high-interest charges. Choose cards that offer the highest rewards for home improvement purchases. If a store offers a credit card discount, use it with a rewards card to double your savings. Use budgeting tools or apps to track your spending and avoid overspending. If you’re buying expensive appliances or tools, use a credit card that offers purchase protection and extended warranties.
Final Thoughts
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Choosing the right credit card for your home improvement projects can help you save money, earn rewards, and manage your finances efficiently. Whether you prefer a cashback card, a store-branded card, or a travel card like the TD First Class Travel Visa Infinite Card Review or TD Aeroplan Visa Infinite Card Review, selecting the best option depends on your spending habits and financial goals. Before applying, compare offers, review terms, and ensure that your chosen card and home improvement needs are within your budget. With the right credit card, your next renovation project can be green and cost-effective!
