If you're on the verge of a major home remodel, now may be the perfect time to get a brand new credit card. Not only can you qualify for special financing offers, but you can earn all kinds of rewards, too. And, if you're spending a lot of money anyway, you might as well capitalize.
The problem lies in the fact that there are so many cards to choose from? How can you know which card is best? And, which card – or cards – might help you reach your goals fastest?
We've narrowed down to the top cards for a home remodel to help in that respect. If you're preparing for an expensive remodeling project and want to use credit cards to your advantage, here are a few top options to consider:
Chase Sapphire Preferred®
If a large home remodeling project is on your horizon and your goal is earning rewards, you couldn't do much better than the Chase Sapphire Preferred®. By signing up for the card and spending $4,000 within the first three months account opening, you'll earn 50,000 points worth $500 in cash back or $625 in travel.
Once you have this new Chase card, you can boost your rewards earnings by taking advantage of the Chase shopping portal when you shop at home improvement stores. While offers change all the time, you can usually count on getting anywhere from 1 – 5 bonus points per dollar spent at online stores like Lowe's and Home Depot.
The annual fee on this card is waived the first year, too, making this a no-risk option if you want to earn rewards and try out the card's benefits.
Discover it® - Cashback Match™
The Discover it® - Cashback Match™ is another great option for a home remodel, and for a few reasons. First, this card offers 5 percent back on your first $1,500 spent in categories that rotate every quarter. For example, the bonus categories may include Amazon.com, department stores or Sam's Club. If you were able to buy some of the supplies for your home remodeling project from Amazon or a department store, this is an easy way to get 5 percent back.
But, it gets better. Since Discover promises to double the amount of cash back you earn the first year, you're really getting 10 percent back in bonus categories. As an added bonus, you'll get 1 percent back on all other purchases and 0% intro APR on balance transfers for the first 14 months. If you want to pay for your home remodel slowly over several months without forking over money for interest, this is a great way to do it. Best of all, there is no annual fee.
Citi® DoubleCash Card
If you're looking for a straight-up cash back credit card, the Citi® Double Cash Card is hard to beat. With this card, you'll get 1 percent back for each purchase you make followed by another 1 percent for paying that purchase off.
For a $10,000 home remodeling project, for example, you would earn a steady $200 in cash rewards. Since this card doesn't charge an annual fee, you can also continue using it to rack up more rewards over time at no cost. Even better, this card offers 0% intro APR on purchases and balance transfers for a full 18 months!
Barclaycard Arrival Plus™ World Elite MasterCard®
The Barclaycard Arrival Plus™ World Elite MasterCard® is yet another travel credit card that makes earning rewards easy. With this card option, you'll earn 50,000 miles after you spend $3,000 on your card within 90 days. Those 50,000 miles are worth $500 in travel with any hotel chain or airline.
This card does charge an annual fee, but it's waived the first year. As an added bonus, you can continue using your card to earn 2x points for every dollar you spend on all purchases.
With a home remodeling plan in the works, you need all the extra money you can get. Fortunately, some of the best credit cards on the market make it easy to get 0% into APR on purchases and/or rewards you can use to offset your home remodeling expenses.
Before you use plastic for your project, however, you should make sure your contractor doesn't charge a fee. If he or she does, you may be better off sticking to cash, check, or debit.
Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer partnerships.