What is the best credit card for homeowners?
The Wells Fargo Active Cash is the best overall credit card for homeowners because it earns unlimited 2% cash back on every purchase -- including Home Depot, Lowes, furniture stores, utility bills, landscaping services, and appliance purchases. There are no categories to track, which is ideal for homeowners whose spending spans dozens of different merchants and categories.
Should I get a store card for Home Depot or Lowes?
Store cards from Home Depot and Lowes make sense if you shop primarily at one store and plan large renovation projects. The Lowes Advantage Card offers 5% off every purchase or extended financing, while the Home Depot Consumer Credit Card provides 6-24 month financing on purchases over $299. However, these cards only work at their respective stores, so a general rewards card is better for diverse homeowner spending.
What is the best card for financing home renovations?
For large renovation projects, the Home Depot Consumer Credit Card offers 6-24 month promotional financing on purchases over $299, and the Lowes Advantage Card offers similar extended financing options. For general renovation financing, the Chase Freedom Unlimited provides 0% intro APR for 15 months on purchases, giving you over a year to pay off renovation costs interest-free.
Can I earn rewards on utility bills with a credit card?
Yes. Most utility companies accept credit card payments, though some charge a convenience fee of 2-3%. The Wells Fargo Active Cash earns 2% on utility payments. Before paying utilities with a credit card, verify the convenience fee does not exceed your cash back. Some utilities allow fee-free payments through certain payment platforms.
What is the best credit card for furniture purchases?
The Wells Fargo Active Cash earns 2% on all furniture purchases regardless of the store. For large furniture purchases, the Chase Freedom Unlimited offers 0% intro APR for 15 months, allowing you to spread payments interest-free. The Citi Custom Cash can earn 5% on furniture if it becomes your top spending category that billing cycle.
Is it worth getting a 0% APR card for home projects?
A 0% intro APR card is excellent for large home projects because it lets you spread payments over 12-15 months without interest. The Chase Freedom Unlimited offers 0% for 15 months on purchases. This is especially valuable for projects costing $5,000-$20,000 where paying cash all at once would drain your emergency fund.
What is the best card for contractor payments?
For contractor payments, a flat-rate card like the Wells Fargo Active Cash (2% on everything) works best since contractor payments do not typically fall into bonus categories. Some contractors charge 2-3% for credit card payments, so verify the fee does not exceed your rewards. For large contractor invoices, a 0% APR card can help manage cash flow.
Should homeowners have multiple credit cards?
Many homeowners benefit from a two-card strategy: a flat-rate card like the Wells Fargo Active Cash for general spending and a store card for their preferred home improvement retailer. This combination maximizes rewards on renovation purchases while ensuring you earn at least 2% on everything else like utilities, insurance, and maintenance services.
