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The Citi Custom Cash is a great option for people looking to maximize cash back rewards without having to worry about activating or selecting bonus categories. Cardholders can also earn a $200 cash-back bonus by spending $1,500 or more in the first six months of membership. Members can take advantage of perks like six-month special financing and 84 fixed monthly payments at a lower interest rate when they spend $2,000 or more. New cardholders get 20% off when they open and use their new accounts, though the bank limits the savings to $100. Cardholders also get 5% off everything in the store and online daily. Applicants should always look into all fees before they apply for any credit card.
And we pore over customer reviews to find out what matters to real people who already own and use the products and services we’re assessing. The stock market is likely headed for its worst year since the great financial crisis in 2008, with major indices such as the S&P 500 and Nasdaq Composite down about 19 and 32 percent, respectively in 2022. But investment professionals surveyed in Bankrate’s Fourth-Quarter Market Mavens survey see some relief coming investors’ way in 2023.
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The card earns 5% cash back on purchases in a top eligible spend category each billing cycle, up to the first $500 in spending each month and 1% cash back on all other purchases. Included among this card’s unique bonus reward categories are home improvement stores. The Chase Sapphire Preferred is a travel rewards credit card with a low $95 annual fee and a decent welcome bonus. You can earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening, which is worth up to $750 when redeemed for travel via Chase Ultimate Rewards®. All that spending on your new renovation can help you earn rewards to use to cover the cost of a quick getaway.
However, is not the best credit card on the market for this kind of projects. Capital One on most of those cards you don't have to pay no annual fee and its APR is usually lower than any other credit card. If you choose to go with a store-branded home improvement credit card, beware of deferred interest. While it might let you go a long time without paying interest, it’s dangerous. You only owe no interest if you pay in full by the end of the 0% APR period. If you don’t pay in full, you owe all the interest you would have been charged during the intro period if the regular APR had been in place.
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Casual travelers who don't plan to carry a balance will find good value in this card's rewards rate. The Citi Rewards+® Card – the only credit card that automatically rounds up to the nearest 10 points on every purchase – with no cap. It's even possible to have multiple rewards cards for different purposes, allowing you to reach the rewards caps for each one. However, most people with busy lives will want to choose the card that works best with their spending habits, letting it work for them automatically. Always pay more attention to the interest rate you pay than to rewards rates. Rewards are great, but paying high interest rates will cost you far more than you save.
You may be better off using a card with an introductory low- or no-interest rate. At least then you only pay interest after the introductory period ends. The Lowe's Advantage Card offers the best rewards out of all the cards we selected.
Are There Similar Cards To The Home Improver Card?
Potential applicants should compare interests regardless of the type of card they’re looking for. It lets you pay for home improvement projects in-store, online, and on the Home Depot app. Home Depot’s goal is to offer more alternatives to people that currently use credit cards, like Visa and American Express.
There are two caveats, which are the balance transfer fee and the lack of a rewards program. Still, the savings on interest during the introductory period can eclipse the fee. This card has the brawn to handle just about all of your credit card spending needs without an over-inflated price tag. If you're more likely to spend your home improvement dollars at IKEA, you can't go wrong by getting its no-annual-fee credit card. IKEA has expanded its home improvement offerings over the years, even offering kitchen and bathroom cabinet remodeling advice at its stores and installation at shoppers' homes. With the IKEA Visa Card, you get a competitive rewards program on store purchases, as well as rewards for dining, groceries, and utilities and minimum rewards on everything else.
Or do you simply want as much interest-free time as possible to pay off the purchase? Once you know what you want to get out of a new home improvement card, you can determine which card will be the best fit for you. Also, check whether your credit card has a bonus portal before you shop online. With Chase credit cards, for example, you can click through to your Chase Ultimate Rewards account and earn more points through HomeDepot.com or Lowes.com from time to time.
You can also finance your home improvement purchases with this card, thanks to a 0% intro APR on purchases and balance transfers for 15 months, followed by a variable APR of 18.24% – 28.24%. As a new cardholder, you can earn a $200 cash rewards bonus cash after spending $1,000 on purchases within 90 days of account opening. That’s about $333 per month; but if you max out your 3% rewards category, you’ll spend more than enough to score the bonus. And remember, this cash bonus is offered on top of the rewards you’ll already earn on everyday spending and home improvement purchases.
It doesn't require quarterly activation, there are no special bonus categories and there's no limit to how much cash back you can earn. We chose five credit cards with above average rewards rates on home improvement and related purchases. The best card for you depends on your buying habits, how much you will spend, and how quickly you will pay off the balance. The Wells Fargo Cash Wise Visa Card is another great unlimited cash back rewards card. Plus, if you spend $500 in the first three months of purchase, you’ll get a $150 cash back bonus. Unlike introductory 0% APR offers on traditional credit cards, though, these special financing offers only defer interest.
3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases. There's probably no harm in having a few rewards cards, although your credit score may take a temporary dip when you first apply for them. Too many cards means more accounts to keep track of and pay each month. It's better to choose a card or cards that work best for you instead of taking advantage of every offer that comes along. Some retailers offer great deals on store financing on everything from appliances to carpet. If it offers "90 days same as cash," for example, and you don't actually pay it off before the 90 days end, you may owe a high rate of interest from the date of purchase and going forward.
Although the Citi Double Cash Card doesn't come with a ton of additional perks, it encourages good financial behavior since you lose half of your cash back when you forget to pay off your balance. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners. TheChase Sapphire Reserve®can be a good option if you’re hoping to parlay your home improvement project into some serious travel rewards. This card also comes with important travel benefits that can make trips more comfortable and convenient. The U.S. Bank Visa® Platinum Card does not offer rewards on purchases.
The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. He oversees editorial coverage of banking, investing, the economy and all things money. He has previous experience as an industry analyst at an investment firm. Baker is passionate about helping people make sense of complicated financial topics so that they can plan for their financial futures.
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