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It can be especially helpful if you take advantage of the promotional financing offered. For example, let's say your refrigerator breaks down, and a replacement will cost you $600. If you don't have the entire amount handy, you could spread out your payments over time. Being able to make monthly payments instead of the full $600 upfront can be helpful for many people. 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.
NerdWallet's Best Credit Cards for Home Improvement and New Homeowners of May 2024
You can choose from cards that offer higher rewards in specific bonus categories or opt for a credit card with a flat rewards rate on everything you buy. The Discover it® Cash Back is a no-annual-fee card that offers 5% cash back in rotating categories on up to $1,500 in combined purchases after you activate the bonus every quarter (then 1%). After you reach the $1,500 limit, you'll still earn 1% on all eligible purchases. And if you maximize your spending in these categories, you could earn $75 cash back each quarter on top of the unlimited 1% cash back you automatically earn in all the other categories. For purchases of $2,000 or more, cardholders can split their purchase into 84 fixed monthly payments at a reduced APR.
Enjoy these EVERYDAY BENEFITS EVERYWHERE THE CARD IS ACCEPTED
On top of these standard options, Lowe’s has been known to offer limited-time discounts and financing promotions to new accounts or for specific products and services. Note that this is a closed loop credit card, meaning that you can only use it at Lowe’s. Looking to finance a big home remodeling purchase with a 0% introductory APR period? It offers a 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers.
Promotional financing
These cards aren’t as good overall, but may offer store-related perks or discounts that could be worthwhile in specific circumstances. Regardless of where you apply or your store choice, you’ll receive a credit card that can be used at all of Synchrony's partner stores. The main selling point of the Synchrony Home card is the promotional financing, or deferred interest. Cardholders can get six months of promotional financing on purchases of $299-$1,998.99, or 12 months of promotional financing on purchases of $1,999 or more. Some Synchrony partner locations defer interest for up to 60 months.
AT SELECT SYNCHRONY HOME LOCATIONS, ENJOY
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United Airlines credit cards have a secret perk that makes it easier to book awards
With the right credit card in hand, you could turn your home improvement dreams into reality while enjoying the added rewards, interest-free financing or benefits that come with it. When comparing home improvement credit cards, read the terms and conditions of each card carefully to understand the rewards structure, fees and any limitations that may apply. Finally, it’s important to examine the fine print of a card’s interest-free promotion.
Best for large projects
The Wells Fargo Active Cash® Card is a no-nonsense cash-back card that earns 2% cash rewards on purchases. Unlike other cards on this list, the Active Cash doesn’t have an earnings cap and it doesn’t require you to meet any criteria to earn those excellent flat-rate rewards. With this card, you can choose two retailers each quarter to earn 6% cash back up to the set limit—an amazing return on spending.
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.
For example, you can typically purchase home improvement store gift cards at office supply stores or grocery stores, which could help you earn cash back or points on cards that have elevated rewards at those types of retailers. This is one of the highest cash-back rewards rates you can find for grocery purchases at U.S. supermarkets. Although the Chase Freedom Unlimited® doesn’t specifically include a home improvement rewards-earning category, it does earn a base rewards rate on “all other purchases”, which would include home improvement stores. Plus, the intro APR offer can save you more money on interest charges than any rewards you’d pocket. Strong earnings on other areas of spending make this card a compelling pick for anyone’s wallet, long after your project is complete. When you’re looking for a credit card for improvement, you’ll first want to estimate the cost of your project.
If you’d prefer travel rewards instead of cash back, you can use the same strategy, but with a travel rewards card. You also earn 5X points on travel purchased through Chase Travel℠, 3X points on dining and 2X points on all other travel purchases, and 1X on all other purchases. If you pay your phone bill with your card, you’ll receive up to $600 of cellphone protection against theft or damage (subject to a $25 deductible). Cardholders also receive Visa Signature benefits such as 24/7 concierge service and access to the Luxury Hotel collection. Custom Cash cardholders get access to Citi Entertainment to book presale tickets and exclusive events. Beyond this, the Citi Custom Cash® Card provides convenience benefits like 0% fraud liability, Mastercard ID protection and contactless pay.
Further, make sure you are happy with the redemption options available to you. Some cards only let you cash in rewards for statement credits while others offer gift cards, travel redemptions and more. Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™. Though you may be focused on seeing your home renovation to its end, it's nice to have a credit card where your spending racks up rewards in other areas that may allow you to catch a break. With the Citi Custom Cash® Card, you can select home improvement as your top earnings category one month and then something completely different next month.
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