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Best Credit Cards for New Homeowners

Best Credit Cards for New Homeowners

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

This article was last updated Oct 17, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

If you’ve just closed on a new home, your first thought was probably one of celebration. Your second might have been about how you’re going to manage your new mortgage payment alongside other financial obligations — but don’t stress out just yet.

The right credit card, used wisely, can help you face the challenges of homeownership more easily, whether you need to buy furniture to spruce up your new place or purchase some much-needed appliances, without sinking you into unnecessary debt. We’ve picked some of the top cards that can help you save on any upcoming household purchases.

In this article:

Best for 0% APR on purchases

Once you’ve bought your new place, it’s time to make it feel like a home. Whether you’re shopping for kitchen appliances, furniture or an entertainment system, you may need to break down those expenses into more digestible payments. A card that offers a 0% introductory APR on purchases can give you an opportunity to pay off those big-ticket items over time without accruing interest charges.

  • 0% for 18 months on purchases and qualifying balance transfers*

  • Enjoy $0 Annual Fee

  • 16.99%-26.49% (Variable)*

Highlights
  • Apply and take control of your credit health with Wells Fargo's longest intro APR
  • $0 Annual Fee
  • Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Platinum card
  • Easy access to your FICO® Credit Score with Wells Fargo Online®
  • Zero Liability protection for promptly reported unauthorized transactions
  • Convenient tools to help create a budget and manage your spending with My Money Map
  • See Rates & Fees

See additional details for Wells Fargo Platinum card

More Info

The Wells Fargo Platinum card comes with an intro APR of 0% for 18 months on purchases. After that, it’s 16.99%-26.49% (variable).

More card details:

Regular purchase APR Annual fee Foreign transaction fee
16.99%-26.49% (Variable) $0 3%

Best for a big sign-up bonus

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

  • Earn 5% cash back at different places each quarter up to the quarterly maximum, when you activate*

  • Any amount, any time. Cash back rewards never expire*

Highlights
  • INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back 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.
  • See Rates & Fees

See additional details for Discover it® Cash Back

More Info

When you know you’re going to have to spend more than you usually do, that’s a great time to take advantage of a generous credit card sign-up bonus — and the one from Discover it® Cash Back is one of the most rewarding we know of. For new cardmembers, Discover will automatically match all the cash back you earn at the end of your first year.*

If you put the bulk of your spending on this card during the first year (especially if you’re making big purchases to improve your new house), this bonus can put a lot of cash back in your pocket. Check out the 2019 cashback calendar to get an idea of where you can earn the highest rewards.

More card details:

Regular purchase APR Annual fee Rewards program
13.49% - 24.49% Variable $0 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.

Best for home improvement/furnishings

  • 0% Introductory APR on purchases for 15 billing cycles

  • 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

  • 15.74% - 25.74% Variable APR on purchases and balance transfers

Highlights
  • No annual fee
  • $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, 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
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 15.74% - 25.74% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase

See additional details for Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

More Info

One thing that’s almost guaranteed once you’ve bought a house is that you’re going to have to furnish it. With the Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer, you can earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases.

The categories you can choose from for the 3% rate are gas, online shopping, dining, travel, drug stores and home improvement/furnishings. It’s that last one we’re interested in — it includes hardware stores, furniture, plumbers, electricians, landscapers, carpenters and more.

Merchants that qualify for the home improvement/furnishing category include the following:

  • Ace Hardware
  • IKEA
  • Sherwin-Williams
  • Bed Bath and Beyond
  • Lowe’s
  • The Home Depot
  • Crate & Barrel
  • Menards
  • TruGreen
  • Harbor Freight Tools
  • Pottery Barn
  • Williams-Sonoma

More card details:

Regular purchase APR Annual fee Sign-up bonus
15.74% - 25.74% Variable APR $0 $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

Best for grocery shopping

  • $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.*

  • NEW 6% Cash Back on select U.S. streaming subscriptions & 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more.

  • 1% back on other purchases*

Highlights
  • Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • NEW 6% Cash Back on select U.S. streaming subscriptions.
  • NEW 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 3% Cash Back at U.S. gas stations. 1% Cash Back on other purchases.
  • Over 3 million more places in the U.S. started accepting American Express® Cards in 2017 and 2018.
  • Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 14.49% to 25.49%
  • $95 annual fee.
  • Terms Apply.
  • See Rates & Fees

See additional details for Blue Cash Preferred® Card from American Express

More Info

As a new homeowner, you may find yourself cooking at home more frequently — whether to save money on dining out or just because you enjoy a good home-cooked meal.

Read: Best Grocery Credit Cards

In that case, the Blue Cash Preferred® Card from American Express is a card that rewards you generously for supermarket shopping. It offers 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 3% cash back at U.S. gas stations. 1% cash back on other purchases. Additional categories: NEW 6% Cash Back on select U.S. streaming subscriptions & 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more.

If you spend approximately $1,585 per year on purchases eligible for the 6% cashback rate, you’ll recoup the annual fee. Everything you spend after that will earn net cash back.

More card details:

Regular purchase APR Annual fee Purchase intro rate
14.49%-25.49% variable $95 0% for 12 months

Best for simple cash back

  • Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.

  • 0% for 18 months on Balance Transfers

  • 15.49% - 25.49% (Variable)

Highlights
  • Earn cash back twice. 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.
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.49% – 25.49%, based on your creditworthiness.
  • Balance Transfers do not earn cash back.
  • The standard variable APR for Citi Flex Plan is 15.49% – 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.

See additional details for Citi® Double Cash Card – 18 month BT offer

More Info

Maybe you don’t need anything fancy — you just want a credit card that offers flat-rate cash back on every purchase. In that case, the Citi® Double Cash Card – 18 month BT offer can make your life a bit easier. Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay..

This card also has a good deal for those looking to transfer debt from a high-interest card and pay it off during a 0% intro APR period. Pay 0% for 18 months on balance transfers, then an APR of 15.49% - 25.49% (variable) applies. The balance transfer fee is 3% of each balance transfer; $5 minimum.

More card details:

Regular purchase APR Annual fee Foreign transaction fee
15.49% - 25.49% (Variable) $0 3%

Other cards worth considering

The Lowe's Advantage Card is a store card that offers 5% off your eligible purchase at Lowe’s. On purchases of $299 or more, you’ll have the chance to choose either the discount or 6 months of special financing, where you’ll pay no interest if you pay the purchase off in that time. Be aware that if you don’t pay off the purchase within the special financing time frame, you’ll be charged interest from the date of the purchase. This is known as deferred interest and can be expensive.

If you shop at Lowe’s a lot for home improvement needs, this can be a good card to have on hand.

More card details:

Regular purchase APR Annual fee Sign-up bonus
26.99% $0 None

The information related to the Lowe's Advantage Card has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Read our review of the Lowe's Advantage Card.

The Target REDcard Credit Card is another store card worth considering. It offers a 5% discount on Target and Target.com purchases, which is applied when you check out.

If you’re planning to visit Target to fill your new home with everything from kitchenware to bedding, this card can help you save on your purchases.

More card details:

Regular purchase APR Annual fee Foreign transaction fee
24.65% variable $0 N/A

The information related to the Target REDcard Credit Card has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Read our review of the Target REDcard Credit Card.

The bottom line

Buying a new home can be an exciting but also stressful time. By using the right card for your expenses, you’ve got an opportunity to save money and even put a little extra back in your wallet. And to stay out of debt, only charge what you can afford to pay off at the end of the month.


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