As the weather improves all the time across the United States, many of us will be considering a variety of home improvement products. You may find yourself making multiple trips to the home improvement store for major remodeling projects or to increase the appeal of your outdoors. Here are some credit cards you can use while maximizing the value of your miles and points.
The best credit cards for home improvement
Most credit cards offer rewards in either the same amount for all purchases or different rates for different categories. The most popular bonus categories are groceries, dining, travel, and gasoline purchases. Home improvement is not a common bonus category, but there are several ways to maximize your rewards when shopping at home improvement stores.
Bank of America® Custom Cash Rewards Credit Card.
It’s worth noting that the Bank of America® Customized Cash Rewards credit card doesn’t offer direct bonuses to home improvement stores. Instead, you’ll earn 3% cash back in the categories of your choice, and home improvement is one of the available options. You are limited to making 3% back on the first $2,500 of purchases each quarter. While that allows you to earn 3% back on all other categories, it can still be a great deal, especially if you combine your purchases into multiple categories. The Bank of America® Customized Cash Rewards credit card has no annual fee.
U.S. Bank Cash+ Visa Signature® Card
Like the Bank of America® Customized Cash Rewards credit card, the U.S. Bank Cash+ card allows you to choose from a list of bonus categories. You can earn 5% cashback on up to $2,000 per quarter in the two types of your choice. Home improvement stores are not currently eligible, but you can choose from furniture, appliance, and service shops. This can cover many home improvement costs. There are no annual fees for this card either.
For new credit cards that meet the minimum spending requirements
Another option for the best credit card for home improvement shopping is a new credit card that tries to meet the welcome offer. The initial sign-up bonus for opening a new credit card is one of the most lucrative ways to earn credit card rewards. Consider a card that offers 60,000 bonus points after spending $4,000 within the first three months of owning the card. When you fulfill this first spend reward, you earn 5 points per dollar spent. This is an exceptional return on investment.
Any card with an excellent daily earning rate
If you don’t have either of the above cards and don’t want to get a new credit card, you’ll want to use a card that offers a reasonable rate of return on all purchases. Consider a few options.
American Express Blue for Business: Earn 2 Membership Rewards points to $100,000 in yearly purchases. Terms and conditions apply.
Chase Freedom Unlimited (*) – 5% cashback on grocery purchases up to $12,000 in the first year (excluding purchases at Target® or Walmart®) and 1.5% Chase Ultimate Rewards points for every $1 spent.
Capital One Venture – 2 Venture miles for every $1 spent on all purchases
Consider using a gift card for home improvement expenses.
Another option is to use a gift card for home improvement expenses. Many grocery and office supply shops sell gift cards to Lowe’s, Home Depot, and others. And finding a credit card that offers a bonus in any of these categories is even easier.
-American Express Blue Cash Preferred – Get 6% cashback on spending up to $6,000 a year at U.S. supermarkets. Terms and conditions apply. Fees
Chase Ink Business Cash – 5% cash back at office supply shops (5 Ultimate Rewards per dollar spent).
-American Express Gold Card* – Earn 4 Membership Rewards points per dollar spent at U.S. supermarkets, up to $25,000 per year. Terms and conditions apply.
-Hilton Honors American Express Surpass® Card* – Earn 6 Hilton Points for every $1 spent in U.S. supermarkets. Terms and conditions apply.
Sure, you may have to spend extra to get the gift card in the first place, and there’s a bit more later when you’re trying to figure out exactly how many gift cards to buy. You’ll also lose the purchase protection you might get by paying for your home improvement purchases with a credit card. It may be worth it for the right rewards.