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Best Credit Cards For Home Improvement

Lindsey Conger

Paying for home renovations can get expensive. Even if you have the cash saved up, it might be a good idea to use a credit card so you can build up rewards or get money back on purchases you were already planning on making.

Here are some of the best credit cards for homeowners, and some tips and strategies on how to maximize your rewards.

Meet The Minimum Spend Bonus

If you just signed up for a new credit card, make sure you are hitting the required minimum spend amount to maximize your rewards and bonus points.

Meet The Annual Spend

Some cards will offer rewards if you hit a certain amount in a calendar year. Check to see if that's the case to help you earn more bonus miles, a free award night or a companion ticket.

Look at 0% APR Intro offers: Many credit cards offer an introductory 0% annual percentage rate period. If you can’t pay off your home improvement projects right now but plan on paying it off within the year, this could be a great option to help you save money.

Chase Freedom Unlimited

The Freedom Unlimited credit card from Chase (NYSE: JPM) has a 0% intro APR for the first fifteen months, which gives you more time to pay off your home renovation projects. The card has no annual fee and rewards you with $200 back when you spend $500 in the first three months of opening the account. Plus, cardholders earn 1.5% unlimited cash back on every purchase.

Citi Double Cash Card

The Citi (NYSE: C) Double Cash Card is perfect for homeowners who want a simple cashback rewards system that they can continue to use even after the renovations are finished.

With this credit card, cardholders get 2% cashback with no annual fee. However, the catch is you don’t get the full 2% at once; you get 1% on all eligible purchases and get the other 1% when you pay for those purchases. To maximize your rewards, you’ll have to pay off your balance in full.

Lowe’s Advantage Credit Card

If you are planning on doing most of your shopping at Lowe’s (NYSE: LOW), it's a great idea to get their branded Lowe’s Advantage Credit Card. The card gives you access to more promotional deals, like extended financing on certain purchases. Cardholders also get 5% off every day and six months of special financing when you spend more than $299.

Home Depot Consumer Credit Card

The Home Depot (NYSE: HD) Consumer Credit Card is a little different from other credit cards, and it doesn’t offer you a discount or rewards every time you shop. Instead, it offers six-month financing on purchases more than $299, and other special financing promotions. When you open the account, you also can save up to $100.

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