Americans pay a pretty penny to upgrade their homes every year.
In 2020 alone, homeowners spent an average of $8,305 per year on home improvement renovations, according to a Home Advisor report.
It’s inevitable — no matter how careful you are with your budget, unexpected costs will always arise with renovation projects large and small. But, if you use the right credit card, you can save on these expenses and even benefit from added perks like cash back, promotional financing and more.
Below, CNBC Select rounds up the best credit cards for home improvements so you can earn rewards while remodeling your home (and potentially raising the resale value) — no matter what kind of project you have planned.
Best credit cards for home renovations
Best for financing a big-ticket remodel
Chase Freedom Unlimited®
Spotlight
New cardholders receive a 0% intro APR for 15 months from account opening on purchases and balance transfers.
Good to Excellent670–850
INTRO OFFER: Earn an additional 1.5% cash back
The Chase Freedom Unlimited® is a no-annual-fee card that earns generous cash-back on everyday purchases and a lucrative welcome bonus.
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back!
- Enjoy 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
- After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.74% – 28.49%.
- No annual fee – You won’t have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
- Member FDIC
Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
3% of each transaction in U.S. dollars
Who’s this for? Credit cards with an introductory 0% APR offer buy you time to pay off large home improvement projects, such as remodeling a kitchen, gutting an old bathroom or finishing a basement.
With the Chase Freedom Unlimited®, you get one of the longest intro periods to finance these projects with no interest from account opening on new purchases and balance transfers over the course of 15 months (after, 19.74% – 28.49% variable APR). There’s an intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that it’s either $5 or 5% of the amount of each transfer, whichever is greater. To really take advantage of savings over a year, we recommend that you make sure you can pay off the full balance before the introductory period ends.
In addition to using this card when planning a big-ticket remodel, it’s also good for everyday use with its generous welcome bonus which lets you earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back! Earn 6.5% cash back on travel purchased through Chase Travel, 4.5% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service), and 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
There’s no annual fee, and rewards can be transferred to a Chase Ultimate Rewards® card.
Best for buying tools and appliances
Spotlight
Receive a 0% intro APR for 18 months on balance transfers.
Fair to Excellent580–850
The Citi Double Cash® Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure.
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.49% – 28.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
For balance transfers completed within 4 months of account opening, an intro balance transfer fee of 3% of each transfer ($5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($5 minimum) applies
Foreign transaction fee
Who’s this for? Whether painting a room or installing an extra light fixture, buying all those new supplies can add up. A card that lets you earn cash back no matter where you go and how frequently you shop can help you offset those small but consistent costs.
The Citi Double Cash® Card has an easy-to-use rewards program that lets you earn on each dollar you spend. Cardholders earn 2% cash back on all purchases, 1% when you make a purchase and an additional 1% when you pay your credit card bill. It doesn’t require quarterly activation and there’s no limit to how much cash back you can earn.
Although the Citi Double Cash Card doesn’t come with a ton of additional perks, it encourages good financial behavior since you lose half of your cash back when you forget to pay off your balance. This is certain to benefit you in the long run.
Best for cash back on purchasing new decor
Discover it® Cash Back
On Discover’s secure site
On Discover’s secure site
Spotlight
This welcome bonus is more rewarding when you spend more, but has no minimum spending requirement.
Good to Excellent670–850
18.49% – 27.49% Variable Rates as of December 12, 2024
Discover will match all the cash back earned
The Discover it® Cash Back offers an excellent return in a wide range of useful rotating quarterly bonus categories.
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
Highlights
- Intro Offer: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
- Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
- Redeem your rewards for cash at any time.
- Apply and you could get a decision in as little as 60 seconds. No annual fee.
- Start shopping and earning rewards in minutes with our digital card, before your physical card arrives in the mail, if eligible.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- Get a 0% intro APR for 15 months on purchases. Then 18.49% to 27.49% Standard Variable Purchase APR applies, based on credit worthiness. Rates as of December 12, 2024.
- Terms and conditions apply.
Balance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Who’s this for? Improving your home usually entails some redecorating to match your fresh new space. For this, credit cards with a rotating calendar of cash-back categories can give you the most bang for your buck.
How? Some cards with quarterly bonus categories reward you for shopping at popular home decor retailers. If you wait to shop for home goods until the correct bonus quarter, you can make your design inspo dreams come true while also earning 5% back.
The Discover it® Cash Back is a no-annual-fee card that offers 5% cash back in rotating categories on up to $1,500 in combined purchases after you activate the bonus every quarter (then 1%). After you reach the $1,500 limit, you’ll still earn 1% on all eligible purchases. And if you maximize your spending in these categories, you could earn $75 cash back each quarter on top of the unlimited 1% cash back you earn in all the other categories.
With this card’s unique welcome bonus for new card members in their first year only, Discover will automatically match all the cash back they’ve earned at the end of their first year. There is no limit to how much Discover will match.
Best for banking other rewards while spending
Chase Sapphire Preferred® Card
Spotlight
Points are worth 25% more when you redeem them for travel booked through Chase TravelSM.
Good to Excellent670–850
20.74% – 27.74% variable on purchases and balance transfers
The Chase Sapphire Preferred® Card packs a punch for a $95 annual fee card, offering annual travel credits, comprehensive travel protections and more.
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Who’s this for? Though you may be focused on seeing your home renovation to its end, it’s nice to have a credit card where your spending racks up rewards in other areas that may allow you to catch a break.
The Chase Sapphire Preferred is a travel rewards credit card with a low $95 annual fee and a decent welcome bonus. You can earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That’s worth $750 when redeemed through Chase Travel. All that spending on your new renovation can help you earn rewards to use to cover the cost of a quick getaway.
You also earn 5X points on travel purchased through Chase Travel℠, 3X points on dining and 2X points on all other travel purchases, and 1X on all other purchases.
Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.
Best home improvement store card
MyLowe’s Rewards Credit Card
Information about the Lowe’s Advantage Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
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Rewards
5% off eligible purchases
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Welcome bonus
For a limited time, new accounts get 20% off a qualifying purchase, up to $100
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Annual fee
-
Intro APR
-
Regular APR
-
Balance transfer fee
-
Foreign transaction fee
-
Credit needed
Who’s this for? Though store cards can have their drawbacks, such as low credit limits and high interest rates, homeowners who find themselves visiting home improvement stores often may want to take advantage of the benefits offered by the Lowe’s Advantage Credit Card.
The Lowe’s credit card offers an everyday 5% discount on eligible in-store and online purchases. It can’t be combined with other promotions and discounts, nor can it be used to pay for service charges like delivery and installation fees. Yet, this 5% can go a long way when you’re racking up a large bill on expensive items like light fixtures, tiling and cabinets.
If you have a larger project to finance, the Lowe’s Advantage Credit Card can also provide a decent 84-month fixed payment plan that acts similar to what you may get with a personal loan. If your project is not large enough for such a long financing period, you can opt for a more basic option of no interest on purchases of $299 or more when paid in full within six months.
Like every promotional financing period, in order to reap the full benefits of this card you must be diligent with your repayment plan. Make sure you pay the balance in full before the six-month offer ends to avoid interest charges. Continuing to carry a balance after six months will cause you to incur deferred interest, which is a charge for all the interest you accrued since the date you made your purchase.
Check out how the Lowe’s Advantage Card compares to the Home Depot Consumer Credit Card.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best home improvement credit cards.
Our methodology
To determine which cards offer the best value for remodeling a home, Select analyzed 234 of the most popular credit cards available in the U.S. We compared each card on a range of features, including: rewards, welcome bonus, introductory and standard APR, balance transfer fee and foreign transaction fees, as well as factors such as required credit and customer reviews when available. We also considered additional perks, the application process and how easy it is for the consumer to redeem points.
Since the home improvements you plan on completing may have a higher or lower cost than the average $7,560 per year Americans spend on home improvement renovations, we selected cards that have a good overall value in several common categories.
Information about the Lowe’s Advantage Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
For rates and fees of the Discover it® Cash Back, click here.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.