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Best Credit Cards for Home Improvements

Best Credit Cards for Home Improvements

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Dec 30, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

If you have a home improvement project in your near future, a credit card that offers rewards on home improvement purchases should be on your radar.

In addition to rewards, the right credit card can allow you to finance big charges without paying interest for an extended period of time, as well as not charge you an annual fee.

We have compiled a list of credit cards — based on rewards rates, introductory APR periods and annual fees — that may help you offset some of the expenses on your next home improvement project.

In this article:

Bank of America® Cash Rewards credit card

With the Bank of America® Cash Rewards credit card, you can earn 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, 1% cash back on every purchase.

If you select home improvement/furnishings as your choice category, and max out the $2,500 spend cap each quarter, you can earn $300 cash back on those purchases in a year.

The home improvement/furnishings category encompasses a wide range of merchants, including hardware stores, household appliance stores, air conditioning repair, landscaping services, roof contractors, plumbers, electricians and much more.

Additionally, the Bank of America® Cash Rewards credit card comes with a 0% Introductory APR on purchases for 15 billing cycles, then 15.49% - 25.49% Variable APR on purchases — so you’ll have more than a year to pay off big-ticket items without incurring interest on those on charges. Plus, you will not be charged an annual fee for using this card.

Chase Freedom Flex℠

  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

  • 0% Intro APR on Purchases for 15 months

  • 14.99% - 23.74% Variable

Highlights
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.

See additional details for Chase Freedom Flex℠

More Info

The Chase Freedom Flex℠ offers the following rewards: Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.

Keep in mind that because the bonus categories change each quarter, you aren’t guaranteed to earn the bonus rate on home improvement purchases year-round. For example, the bonus category for the Chase Freedom® (which was closed to new applicants when the Chase Freedom Flex℠ came out) during the second quarter of 2019 included home improvement stores. However, during the third quarter, the category included gas stations and select streaming services.

See the 2020 calendar below:

Chase Freedom Flex℠ 2020 cash back calendar

January – March April – June  July – September October – December
Gas stations, select streaming services, internet, cable and phone services Grocery Stores*, Fitness Club & Gym Memberships and select streaming services Amazon.com and Whole Foods Market Walmart and PayPal

*Not including Target or Walmart purchases.

Additionally, the Chase Freedom Flex℠ card offers a 0% Intro APR on Purchases for 15 months, then 14.99% - 23.74% variable and a $0 annual fee.

Discover it® Cash Back

  • 0% for 14 months on purchases and Balance Transfers, then 11.99% - 22.99% Variable.

  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically. *

  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically*

Highlights
  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back in any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • No annual fee.
  • Discover is accepted nationwide by 99% of the places that take credit cards.
  • See Rates & Fees

See additional details for Discover it® Cash Back

More Info

Similar to the Chase Freedom® card, the Discover it® Cash Back card lets you Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.

While the Discover’s 2020 cash back calendar does not specifically include home improvement stores, there is an opportunity to earn the higher bonus at Amazon.com, Target.com and Walmart.com during the fourth quarter of 2020 upon activation. So if you purchase tools, gardening supplies and other home improvement items from those retailers from October through December 2020, you can earn 5% cash back on up to $1,500 in purchases on those items.

Additionally for new cardmembers, Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match. .

See the full cash back calendar for 2020 below:

Discover 2020 cash back calendar

January – March April – June  July – September October – December
Grocery stores, Walgreens and CVS Gas stations, wholesale clubs, Uber and Lyft Restaurants and PayPal Amazon.com, Target.com, and Walmart.com

The Discover it® Cash Back card offers an introductory APR on purchases of 0% for 14 months (then 11.99% - 22.99% Variable) and a $0 annual fee.

Other cards to consider

Depending on your needs, you may want to consider a card that offers bonus rewards on every purchase, like the Citi® Double Cash Card – 18 month BT offer — or a card that comes with a longer introductory APR on purchases, like the BankAmericard® credit card.

Citi® Double Cash Card – 18 month BT offer

The Citi® Double Cash Card – 18 month BT offer is a good option if you plan to pay your card balance in full each month. While the card does not come with a introductory APR on purchases, it does allow you to earn a solid rewards rate on home improvement purchases. Cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

Additionally, the card comes with a $0 annual fee.

BankAmericard® credit card

If your primary goal is to finance your home improvement purchases, you’ll want to choose a credit card that doesn’t charge interest on purchases for the longest period of time as possible.

The BankAmericard® credit card provides the longest introductory APR on purchases among the cards in this post. While the card does not offer rewards on purchases, it does come with a 0% Introductory APR on purchases for 18 billing cycles, then 14.49% - 24.49% Variable APR.

The BankAmericard® credit card also comes with a $0 annual fee.

How about a store credit card instead?

If you’re loyal to any of the retailers below, you can earn a generous rewards rate, special discounts or financing options when you buy supplies from these stores.

Lowe's Advantage Card

The Lowe's Advantage Card gives you Save 5% off your eligible purchase, or get 6 months special financing with purchases of $299 or more, or get 84 fixed monthly payments with a minimum purchase of $2,000 at 7.99% APR. Terms apply. charged to your Lowe’s account. The Lowe's Advantage Card also offers six months special financing — allowing you to pay for purchases of $299 or more over a period of six months without incurring interest charges. Note, if you do not pay for the purchase in full within six months, interest will be charged to your account from the purchase date.

If you need to finance a large project, you can request project financing. When you use your Lowe's Advantage Card on a purchase of $2,000 or more, you can receive up to 84 fixed monthly payments with reduced APR financing until paid in full.

Home Depot Consumer Credit Card

The Home Depot Consumer Credit Card offers 6-month no-interest financing on purchases of $299 or more. As with any deferred interest deal, interest will be charged to your account from the purchase date if the purchase balance is not paid in full within six months.

Home Depot Consumer Credit Card holders can also take advantage of up to 24-months financing during special promotions, including one-year hassle-free returns.

Additionally, Home Depot offers a Project Loan card, which offers credit lines of up to $55,000, a 6-month buying window to purchase products or installation services and 84 months to pay off your purchases at a fixed rate.

Amazon Prime Rewards Visa Card

You may not think of Amazon when you think of home improvements. But you can actually find a lot of the same tools and supplies on Amazon.com that you would at any hardware store, including light fixtures, tools, kitchen sinks, bathroom toilets and much more.

The Amazon Prime Rewards Visa Card offers 5% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations and drugstores, 1% back on all other purchases. You will also receive a $100 Amazon.com Gift Card instantly upon credit card approval.

The Amazon Prime Rewards Visa Card has a $0 annual fee; however, a Prime membership ($119 a year; $59 a year for students) is required to earn the 5% back at Amazon.com. Keep in mind, though, that Prime membership also comes with free two-day shipping.

The bottom line

Whether you’re planning a remodel, taking on a landscaping project or making simple home repairs, you should consider a credit card that offers rewards on home improvement purchases. Along with earning cashback rewards on those purchases, you can also take advantage of a 0% introductory APR period on purchases, as well as a $0 annual fee.

Whichever card you choose, be sure to double-check with your contractor, repair person or local repair or hardware store to ensure that they accept credit cards.

The information related to Amazon Prime Rewards Visa Card and Chase Freedom® has been independently collected by CompareCards and have not been reviewed or provided by the issuer of this card prior to publication.

 


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