Updated July 25, 2015

Study: Credit Card for Home Improvement


Question: What is the best home improvement credit card? Answer: While it's expensive to be a homeowner, let's explore how using the RIGHT credit card can help make your home improvement affordable.

Keep in mind home improvements not only make your house more pleasant to live in, but they can hopefully also make your house easier to sell in the future.

We've put together a list of the best credit cards for home improvement.

Home Improvement
Home Improvement © CreditDonkey

Introductory Interest Rate

If you don’t have the cash for your renovations, a credit card can help you finance your new purchases. However, the interest rate on most cards quickly shoot up your bill.

If you need time to pay off your home improvements, use a promotional 0% apr credit card. Many offer a 0% intro APR on balance transfers and purchases for over a year. Remember to not spend more than you can reasonably pay back, as you don't want to incur unnecessary credit card debt.

Cash Back

Fixing up your home can be an expensive project and it’s important to cut costs wherever you can.

By using cash back credit cards, you save money on almost everything you buy for your home improvement projects. Most cards earn 1% cash back on regular purchases. Some also offer extra cash back on bonus categories throughout the year. If you schedule your purchases at the right time of the year, you’ll get a sizable cash back check from the cards.

Also, be on the look out for latest Home Depot, Lowe's, and Sears coupons to help you save even more money.

If you plan to carry a balance, focus on low interest rates rather than rewards. Usually interest costs will far exceed the rewards benefit, so it's best to minimize interest when carrying a balance.

Hotel Stays

While you can stay at your house during small home improvement projects, a major renovation could force you to stay elsewhere. If you don’t have friends or family nearby, this means going to a hotel.

If you expect to move out of your house temporarily, a hotel credit card can cut down your hotel costs. Some of these cards offer free hotel nights when you first sign up for the card and meet specific spending thresholds within a certain time period.

In addition, every time you make a purchase on your card, you'll often earn points that you can use for more free nights. A hotel credit card ensures you and your family can continue to live comfortably while your home is under repair.

While a good remodeling job will make your house the envy of the neighborhood, you also need to carefully plan to manage the costs of this project.

More from CreditDonkey:

Home Depot

Home Depot

Lowe's

Lowe's


Sears

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About CreditDonkey®
CreditDonkey is a credit card comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.