Best Credit Cards for Home Improvement and New Homeowners of December 2024
Updated: Nov 19, 2024
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Renovating a home or buying a new one comes with a lot of costs. Everything from floor tiles to furniture to food is suddenly on your shopping list. Choosing the right credit card for those expenses can make your dollars go farther, either by earning rewards on spending or getting discounts on purchases.
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400+ credit cards reviewed by our team of experts (See our top picks)
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Objective comprehensive ratings rubrics (Methodology)
NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
Renovating a home or buying a new one comes with a lot of costs. Everything from floor tiles to furniture to food is suddenly on your shopping list. Choosing the right credit card for those expenses can make your dollars go farther, either by earning rewards on spending or getting discounts on purchases.
Why trust NerdWallet
400+ credit cards reviewed by our team of experts (See our top picks)
80+ years of combined experience covering credit cards and personal finance
27,000+ hours spent researching and reviewing financial products in the last 12 months
Objective comprehensive ratings rubrics (Methodology)
NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards.
Their work has appeared in The Associated Press, USA Today,
The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America"
and many other national, regional and local media outlets.
Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
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Renovating a home or buying a new one comes with a lot of costs. Everything from floor tiles to furniture to food is suddenly on your shopping list. Choosing the right credit card for those expenses can make your dollars go farther, either by earning rewards on spending or getting discounts on purchases.
Why trust NerdWallet
400+ credit cards reviewed by our team of experts (See our top picks)
80+ years of combined experience covering credit cards and personal finance
27,000+ hours spent researching and reviewing financial products in the last 12 months
Objective comprehensive ratings rubrics (Methodology)
NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
Renovating a home or buying a new one comes with a lot of costs. Everything from floor tiles to furniture to food is suddenly on your shopping list. Choosing the right credit card for those expenses can make your dollars go farther, either by earning rewards on spending or getting discounts on purchases.
Why trust NerdWallet
400+ credit cards reviewed by our team of experts (See our top picks)
80+ years of combined experience covering credit cards and personal finance
27,000+ hours spent researching and reviewing financial products in the last 12 months
Objective comprehensive ratings rubrics (Methodology)
NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
400+ credit cards reviewed by our team of experts (See our top picks)
80+ years of combined experience covering credit cards and personal finance
27,000+ hours spent researching and reviewing financial products in the last 12 months
Objective comprehensive ratings rubrics (Methodology)
NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.
NerdWallet's Best Credit Cards for Home Improvement and New Homeowners of December 2024
Bank of America® Customized Cash Rewards credit card: Best for Fixer-uppers
U.S. Bank Cash+® Visa Signature® Card: Best for Filling your home
Citi Custom Cash® Card: Best for Smaller-scale jobs
U.S. Bank Shopper Cash Rewards® Visa Signature® Card: Best for Big rewards at specific retailers
Wells Fargo Reflect® Card: Best for 0% financing for projects
Blue Cash Preferred® Card from American Express: Best for Stocking the pantry
Citi Double Cash® Card: Best for Simplicity
Prime Visa: Best for Getting it all online
Show SummaryHide Summary
Find the right credit card for you.
Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.
Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.
0% financing for projects
If you're embarking on a major home improvement project that will take time to pay off, consider the Wells Fargo Reflect® Card. It comes with a 0% intro APR period that can approach two years, as long as you make your monthly payments on time.
Our Take
Few if any cards offer a promotional window like this one: You'll get a 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers, and then the ongoing APR of 17.49%, 23.99%, or 29.24% Variable APR.
You won't get rewards on your spending, but the money you save on interest could easily exceed any cash back you might have earned.
If you're embarking on a major home improvement project that will take time to pay off, consider the Wells Fargo Reflect® Card. It comes with a 0% intro APR period that can approach two years, as long as you make your monthly payments on time.
Stocking the pantry
With the Blue Cash Preferred® Card from American Express, you'll enjoy an industry-leading cash-back rate while stocking your kitchen and setting up your entertainment center with streaming services. Plus, if you're driving more to get to and from your new neighborhood, you'll appreciate the great rewards at gas stations. Those are a lot of homeowner-friendly categories that will put more money back in your wallet.
Product Details
- Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 18.49% - 29.49%.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations.
- 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
- $84 Disney Bundle Credit: With your enrolled Blue Cash Preferred Card, spend $9.99 or more each month on an auto-renewing Disney Bundle subscription, to receive a monthly statement credit of $7. Valid only at Disney Plus.com, Hulu.com or Plus.espn.com in the U.S.
- Terms Apply.
- View Rates & Fees
Our Take
This card’s 6% cash back at U.S. supermarkets (on up to $6,000 a year in spending, then 1%) and 3% at U.S. gas stations have long made it a NerdWallet favorite. On top of that, you get 6% cash back on select U.S. streaming subscriptions and 3% on transit, including such things as taxis, rideshares, parking, tolls, trains and buses. All other purchases earn 1% back. The welcome offer adds even more appeal. Terms apply.
The annual fee will be a sticking point for some, but the rewards will offset the fee if you spend just $31 a week at the supermarket. If you don't have significant grocery expenses, however, this simply isn't the card for you.
With the Blue Cash Preferred® Card from American Express, you'll enjoy an industry-leading cash-back rate while stocking your kitchen and setting up your entertainment center with streaming services. Plus, if you're driving more to get to and from your new neighborhood, you'll appreciate the great rewards at gas stations. Those are a lot of homeowner-friendly categories that will put more money back in your wallet.
Big rewards at specific retailers
The U.S. Bank Shopper Cash Rewards® Visa Signature® Card earns a whopping 6% cash-back rate at two retailers you choose. The list of options is long and studded with homeowner favorites like Ace Hardware, Crate & Barrel, Home Depot, Ikea, Lowe's, Wayfair.com and more.
Product Details
- 6% Cash Back on your first $1,500 in combined eligible purchases each quarter at two retailers you choose.
- Earn a $250 bonus after you spend $2,000 in eligible purchases within the first 120 days of account opening.
- 3% Cash Back on your first $1,500 in eligible purchases each quarter on your choice of one everyday category like gas stations & EV charging stations (excludes discount stores/supercenters and wholesale clubs), bills and home utilities.
- 1.5% Cash Back on all other eligible purchases.
- 6% Cash Back on prepaid car and hotel reservations booked directly in the Rewards Center.
- Terms and conditions apply.
- View Rates & Fees
Our Take
You earn 6% cash back on up to $1,500 in combined eligible purchases each quarter with two retailers you choose; 3% cash back on up to $1,500 each quarter in purchases on your choice of one everyday category (wholesale clubs; gas and EV charging stations; or bills and utilities) and 1.5% cash back on all other purchases. There's a great bonus offer, too.
You have to actively choose your retailers each quarter, or else you only earn 1%. The long list of retailers (24 as of February 2023) can distract you from the fact that you don't earn 6% at all of them, just two of them in any given month — and you need to know which ones ahead of time. And there's an annual fee of $0 intro for the first year, then $95.
The U.S. Bank Shopper Cash Rewards® Visa Signature® Card earns a whopping 6% cash-back rate at two retailers you choose. The list of options is long and studded with homeowner favorites like Ace Hardware, Crate & Barrel, Home Depot, Ikea, Lowe's, Wayfair.com and more.
Fixer-uppers
The Bank of America® Customized Cash Rewards credit card earns 3% cash back in a category you choose — and one option is "home improvement and furnishings." That includes not only places like Home Depot or Williams-Sonoma, but also a wide array of contractors and services. From air conditioning repair and antique shops to florists and floor covering stores, the list of what qualifies here is lengthy (see below).
Product Details
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
- Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishings purchases.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.74% - 28.74% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Our Take
The card earns 3% back on a category of your choice (from a list of six) and 2% back on grocery stores and wholesale clubs, on the first $2,500 spent per quarter in these categories combined. All other purchases earn 1% back. You can change your 3% category once a month. The introductory APR offer and the sign-up bonus on this card also make it a great option for a big project.
The $2,500 quarterly spending cap on your 2%/3% bonus cash back can be a bummer, especially if you're taking on large and expensive home improvement projects.
The Bank of America® Customized Cash Rewards credit card earns 3% cash back in a category you choose — and one option is "home improvement and furnishings." That includes not only places like Home Depot or Williams-Sonoma, but also a wide array of contractors and services. From air conditioning repair and antique shops to florists and floor covering stores, the list of what qualifies here is lengthy (see below).
Simplicity
The Citi Double Cash® Card is ideal for the homeowner who has a million things to keep track of and doesn't want to worry about which credit card to use where. It earns a high cash back rate on every purchase.
Product Details
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.49% - 28.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- View Rates & Fees
Our Take
This card's lack of bells and whistles is what makes it so appealing to so many people. It earns 2% cash back on all purchases — 1% on every dollar you spend, plus another 1% for every dollar you pay off — with no categories or complications to worry about.
The card's standard offer does not include a sign-up bonus, so its power rests on its ongoing benefits alone. You can earn significantly higher rewards in specific categories with other cards (although that defeats the purpose of choosing a card for simplicity).
The Citi Double Cash® Card is ideal for the homeowner who has a million things to keep track of and doesn't want to worry about which credit card to use where. It earns a high cash back rate on every purchase.
Filling your home
With the U.S. Bank Cash+® Visa Signature® Card, you get to choose two 5% cash back categories, and the list of options includes furniture stores; department stores; electronics stores: home utilities; and TV, internet and streaming services. That covers a lot of ground for a new homeowner with a house to fill and utility bills to pay.
Product Details
- $200 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening.
- 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose.
- 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center.
- 2% cash back on one everyday category like Gas Stations and EV Charging Stations, or Grocery Stores (excludes discount stores/supercenters and wholesale clubs).
- 1% cash back on all other eligible purchases.
- 0% Intro APR on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR currently 18.74% - 28.99%.
- No Annual Fee
- Terms and conditions apply.
- View Rates & Fees
Our Take
You earn 5% cash back in two categories you choose from a list (on up to $2,000 spent per quarter on combined purchases); unlimited 2% cash back in an "everyday" category (gas/EV charging, groceries or restaurants); and 1% cash back on other purchases. There's a good intro APR offer and a solid bonus offer for new cardholders, too.
If you've got a lot of spending to do, you could quickly run into the quarterly cap on 5% bonus cash back. You also need to opt in to your bonus categories each quarter, which is a hassle.
With the U.S. Bank Cash+® Visa Signature® Card, you get to choose two 5% cash back categories, and the list of options includes furniture stores; department stores; electronics stores: home utilities; and TV, internet and streaming services. That covers a lot of ground for a new homeowner with a house to fill and utility bills to pay.
Smaller-scale jobs
The Citi Custom Cash® Card earns 5% cash back on up to $500 spent per billing cycle in the eligible category where you spend the most money. Home improvement stores are one of the options. That makes it a solid choice for smaller projects.
Product Details
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 18.49% - 28.49%, based on your creditworthiness.
- Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2026.
- No rotating bonus categories to sign up for – as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
- No Annual Fee
- Citi will only issue one Citi Custom Cash® Card account per person.
- View Rates & Fees
Our Take
Unlike similar cards that require you to choose your bonus category, the Citi Custom Cash® Card automatically applies 5% cash back in your top spending category. Other purchases earn 1% cash back. A good bonus offer and a great intro APR promotion even make this card worth considering for larger projects when you first get it.
The $500-per-billing-cycle cap on spending eligible for 5% cash back isn’t ideal for big-ticket items like most new refrigerators or washer-dryer sets.
The Citi Custom Cash® Card earns 5% cash back on up to $500 spent per billing cycle in the eligible category where you spend the most money. Home improvement stores are one of the options. That makes it a solid choice for smaller projects.
Getting it all online
Whether you're outfitting a new house or sprucing up the old one, if you're doing it by way of Amazon purchases, you could be earning unlimited 5% back with the Prime Visa.
Product Details
- Get a $200 Amazon Gift Card instantly upon approval exclusively for Prime members.
- Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership.
- Prime Card Bonus: Earn 10% back or more on a rotating selection of items and categories on Amazon.com with an eligible Prime membership.
- Earn unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare).
- Earn unlimited 1% back on all other purchases.
- No annual credit card fee.
- No more waiting. Redeem daily rewards at Amazon.com as soon as the next day.
- Member FDIC.
Our Take
You earn unlimited 5% back at Amazon.com, at Whole Foods Market (which is owned by Amazon) and on Chase Travel; 2% back at restaurants, at gas stations and on local transit and commuting (including rideshare); and 1% back on other purchases. New cardholders get a terrific incentive: Get a $200 Amazon Gift Card instantly upon approval exclusively for Prime members.
The card doesn't charge an annual fee, but Prime membership comes at a cost of $139 a year.
Whether you're outfitting a new house or sprucing up the old one, if you're doing it by way of Amazon purchases, you could be earning unlimited 5% back with the Prime Visa.
FULL LIST OF EDITORIAL PICKS: BEST CREDIT CARDS FOR HOME IMPROVEMENT AND NEW HOMEOWNERS
Bank of America® Customized Cash Rewards credit card
Our pick for: Fixer-uppers
The Bank of America® Customized Cash Rewards credit card gives you a little more control over your credit card rewards by letting you choose which category earns the highest cash-back rate, from a list that includes gas stations, restaurants, travel, home improvement and more. You also get bonus rewards at grocery stores and wholesale clubs, plus a great new-cardholder bonus offer. Read our review.
What's included in this card's home improvement category
Merchant categories: The "home improvement and furnishings" 3% cash back category on the Bank of America® Customized Cash Rewards credit card includes purchases made under these merchant category codes:
Air conditioning and refrigeration repair shops.
Antique shops for sales, repairs and restoration services.
Architectural, engineering and surveying services.
Building materials, lumber stores, carpentry.
Carpet and upholstery cleaning | contractors, concrete.
Crystal and glassware stores.
Drapery, upholstery and window coverings stores.
Electrical contractors.
Electrical parts and equipment.
Equipment, furniture and home furnishings stores (except appliances).
Equipment, tool, furniture and appliance rental and leasing.
Fireplace, fireplace screens and accessories stores.
Floor covering stores.
Florist suppliers, nursery stock and flowers.
Furniture reupholstering, repair and refinishing.
General contractor/residential building.
Glass, paint, wallpaper stores.
Hardware equipment and supplies.
Hardware stores.
Heating, plumbing, air conditioning contractors.
Home supply warehouse stores.
Household appliance stores.
Landscaping and horticultural services.
Lawn and garden supply stores.
Masonry, stonework, tile setting, plastering, insulation contractors.
Miscellaneous house furnishing specialty shops.
Office and commercial furniture.
Paints, varnishes and supplies.
Plumbing and heating equipment and supplies.
Roof, siding and sheet metal work contractors.
Special trade contractor (not elsewhere classified).
Retailer examples: Bank of America® identifies the following merchants as examples of purchases that qualify in this category. However, this is not a complete list of eligible retailers:
Ace Hardware.
Bed Bath and Beyond.
Crate and Barrel.
Harbor Freight Tools.
IKEA.
Lowe's.
Menards.
Pottery Barn.
Sherwin-Williams.
The Home Depot.
Trugreen.
Williams-Sonoma.
U.S. Bank Cash+® Visa Signature® Card
Our pick for: Filling your home and paying your bills
If you don't mind putting some work into your rewards, check out the U.S. Bank Cash+® Visa Signature® Card. It might be the most customizable cash back card available. You pick which categories earn the most cash back — you get two 5% categories and a 2% category — and you can change those options every quarter. There's a good bonus offer for new cardholders, too. Read our review.
What's included in this card's 5% categories
As of February 2023, the 5% cash back options on the U.S. Bank Cash+® Visa Signature® Card were:
Furniture stores.
Department stores.
Electronics stores.
Sporting goods stores.
Select clothing stores.
Home utilities
TV, internet and streaming services.
Cell phone providers.
Fast food.
Movie theaters.
Gyms/fitness centers.
Ground transportation.
For examples of specific retailers in each category, see this page at U.S. Bank.
Citi Custom Cash® Card
Our pick for: Smaller-scale jobs
The Citi Custom Cash® Card offers a lot of value for a $0 annual fee: 5% back automatically in your eligible top spending category on up to $500 spent per billing cycle (1% back on other spending). The list of eligible 5% categories is varied and includes biggies like restaurants, grocery stores and more. And unlike with its competitors, there's no activation schedule or bonus calendar to keep track of. Read our review.
What's included in this card's home improvement category
Citi describes eligible merchants in the "home improvement stores" category this way:
"Includes purchases at home supply warehouse stores, lumber and building materials stores, paint and wallpaper stores, hardware stores, nurseries — lawn and garden supply stores and paints, varnishes and supplies stores. Excludes florists and florists' supply stores; nursery stock; wholesale construction stores; and glass stores."
U.S. Bank Shopper Cash Rewards® Visa Signature® Card
Our pick for: Big rewards at specific retailers
The U.S. Bank Shopper Cash Rewards® Visa Signature® Card is tailor-made for consumers who spend a lot of money at retailers that don't fit into (or are specifically excluded from) the bonus categories offered by other credit cards. The card also offers a higher-than-usual rate on spending outside its bonus categories. The downside: There's an annual fee. Read our review.
Full list of 6% merchants
Ace Hardware.
Apple.
Amazon.com.
Anthropologie.
Bed, Bath, & Beyond.
Best Buy.
Chewy.com.
Crate & Barrel.
Disney.
Home Depot.
Ikea.
Kohl's.
Lowe's.
Lululemon.
Macy's.
Menards.
Nordstrom.
Pottery Barn.
QVC.
Restoration Hardware.
Target.
Walmart.
Wayfair.com.
Williams Sonoma.
Wells Fargo Reflect® Card
Our pick for: 0% financing for projects
The Wells Fargo Reflect® Card has one of the longest intro APR periods on the market — approaching almost two years. You'll be hard-pressed to find a longer interest-free promotion, and it applies to both purchases and balance transfers. Read our review.
Prime Visa
Our pick for: Getting it all online
If you drop a lot of money at Amazon and/or Whole Foods Market, this is the card for you, with 5% back on such purchases, plus bonus rewards at restaurants and gas stations, plus local transit and commuting (including rideshare). There's no annual fee, but you have to be a Prime member, and that does have a fee. Read our review.
Blue Cash Preferred® Card from American Express
Our pick for: Stocking the pantry
If your household spends a lot on groceries, gas, transit and streaming, the Blue Cash Preferred® Card from American Express is for you. The rewards it pays in those categories — particularly at U.S. supermarkets and on select U.S. streaming subscriptions — are among the richest of any card. There's a nice welcome offer for new cardholders and an introductory APR period, too. The generous benefits come at a cost, though: Unlike most cash-back cards, this one charges an annual fee. Terms apply. Read our review.
Citi Double Cash® Card
Our pick for: Simplicity
Year after year, the Citi Double Cash® Card has been a top choice among flat-rate cash-back cards. You earn 2% cash back on every purchase — 1% when you buy something and 1% when you pay it off. There's no 0% intro period for purchases and no bonus categories, but the high rewards rate more than makes up for the lack of bells and whistles. Read our review.
MyLowe’s Rewards Credit Card
Our pick for: Big box home improvement shopping
Unlike store cards whose rewards have value only if you return to the store and spend more money, the MyLowe’s Rewards Credit Card gives you an immediate 5% discount on almost everything you buy, with a $0 annual fee. That makes it a compelling choice not just for loyal Lowe's customers, but also for those who spend heavily on home improvement elsewhere and could easily shift to Lowe's. Read our review.
IKEA Visa® Credit Card
Our pick for: Ikea fans
The IKEA Visa® Credit Card earns 5% on Ikea purchases (including Traemand kitchen installation and at-home assembly services from TaskRabbit, which Ikea owns); 3% back on dining, grocery and utility spending; and 1% back on all other purchases. A drawback is that the rewards are redeemable only for more Ikea purchases — but if you enjoy wandering the maze in Ikea's showrooms, that may only add to the appeal. Read our review.
• • •
OTHER RESOURCES
Using credit cards strategically on home improvement projects
Americans spend a lot on their homes — not just buying them, but also maintaining them. NerdWallet’s 2022 Home Improvement Report found that Americans embarked on 134.8 million significant home improvement projects in the 2019-2021 period, with total spending of $624 billion. Of those projects, 53 million projects were DIY.
Fewer than half (42%) of the respondents in a NerdWallet survey for the report said they were able to "easily" pay for their recent home improvement projects, 20% said they had to make sacrifices in other areas, and 12% took on debt for the projects.
That's where using the right credit cards can help. With extra rewards in home improvement categories, 0% introductory APR periods that help you finance big purchases without interest, and generous sign-up bonuses, credit cards can stretch your home dollars further.
Here are ways to use credit cards to help offset the cost of home improvement expenses:
1. Reward yourself as you renovate
The simplest way to use credit cards to save on home improvement is to earmark your rewards for home purchases. For example, use a flat-rate cash-back card to earn 1.5% or 2% cash back on every purchase everywhere, then redeem those rewards for statement credit against purchases made for your project.
Taking it a step further, you can get a card that offers bonus cash back in relevant categories, like one of the cards described above. A card that offers 5% on home improvement, for example, generates a more-or-less-instant $50 in savings on a $1,000 project.
2. Leverage sign-up bonuses
Many credit cards offer sign-up bonuses of $150 to $200 or more when you spend a certain amount of money in the first few months after opening your account. Get a new card for your project, and you may be able to hit the requirement easily. Then you can put that “free money” toward the project and lower your overall costs even more.
3. Use a 0% intro APR offer for financing
If you'll need to spread the cost of a project over several months, consider applying for a card with a 0% intro APR period, which can save you money on interest. Some of the best rewards credit cards — including those that offer high rates on home improvement — come with 0% periods of well over a year. Just be sure to pay off the cost before the promotional period ends and interest charges kick in.
4. Evaluate store cards
If you plan to spend a significant amount at a particular store as you spruce up your home, take a look at that store’s branded credit card. Keep in mind, though, that while store cards tend to pay solid rewards for in-store shopping, they tend not to offer sign-up bonuses and they rarely come with a 0% interest period. Some of them may offer interest-deferred "special financing" on larger purchases, but be careful with these.
A version of this section was originally published by Forbes.
• • •
NerdWallet's Kimberly Palmer contributed to this article.
To view rates and fees of the Blue Cash Preferred® Card from American Express, see this page.
Last updated on November 19, 2024
Methodology
NerdWallet's credit cards team selects the best credit cards in each category based on overall consumer value. Factors in our evaluation include fees, promotional and ongoing APRs, and sign-up bonuses; for rewards cards, we consider earning and redemption rates, redemption options and redemption difficulty. A single card is eligible to be chosen as among the "best" in multiple categories. Learn how NerdWallet rates credit cards.
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