Best Credit Cards to Use For a Home Renovation

By Jason Steele. Last updated 27 May 2020. 0 comments

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Millions of Americans enjoy repairing and maintaining their homes in their spare time. Many do it to save money on necessary repairs or to increase the value of their properties. And some just find the work itself to be rewarding.

When it comes time to invest in your own home renovation, you'll want to use the right tools and materials for the job, including the right credit card. The best credit cards for a home renovation can offer you rewards for your purchases, promotional financing options, and perhaps both.

Here are the best credit cards to use for a home renovation.

The Home Depot Consumer Credit Card

Home Depot is one of the largest home improvement stores, and if this is where you you plan to buy most of your tools and materials, the Home Depot Consumer Credit Card might make sense for you. This card offers six months of deferred interest financing* on purchases of $299 or more. If you don’t pay off the purchases within six months, you’ll be responsible for interest charges going back to the date of purchase.

If you need more than six months to pay off a purchase, you may be better off waiting for promotions that occur throughout the year offering special financing for up to 24 months.

One bonus of the card is that it gives you one year for returns, which is four times longer than the standard return policy allows. There is no annual fee*, and this card can only be used for purchases in stores and online.

Lowe's Consumer Credit Card

The Lowe's Consumer Card’s standard APR is a high 26.99%, but it offers attractive rewards and promotional financing options. When you use this card, you can receive one of the following three benefits: 5% off all purchases, OR six months of deferred-interest financing on purchases of $299 or more (interest is waived if you pay off the entire amount within six months of purchase), OR project financing on purchases of $2,000 or more, for 36, 60 or 84 months, with rates of 3.99%, 5.99%, and 7.99% respectively (cannot be used at, and fixed monthly payments are required).

If you’ve got a big project that you can pay off within seven years or less, the card is a pretty good deal. It carries no annual fee, but it is not part of a larger payment network so you can only use it at Lowe’s.

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