This card currently offers an additional discount on one purchase as a sign-up bonus, and it has no annual fee. However, the Lowes Advantage Card has a moderately high APR if you carry a balance. But if you’re doing major projects, you may qualify for special financing at a lower rate. Pros
Very competitive rewards on Lowes purchases, given as a purchase discountAdditional discount on first qualifying purchaseNo annual fee
Cons
Discount only at LowesAverage to high interest rates on balances
If you carry a balance on your IKEA card, the APR is moderate compared to other home improvement cards. The only catch is that you must redeem your rewards at IKEA. Pros
Excellent rewards for in-store purchasesNo annual feeLower APR if you carry a balance than on some cardsUse your card wherever Visa is accepted
Cons
Redeem rewards at IKEA storeLower rewards on purchases other than at IKEA and in select categories
If you need more time to pay off your remodeling project, the Chase Freedom Unlimited Card offers a moderate APR compared to other cards. There’s no annual fee on this card, and your rewards never expire. Pros
Good cash back rewards on purchases up to $20,000 in first yearNo annual feeModerate APRsCash rewards never expire as long as your account is open
Cons
Rewards rate not as high as store cards
You may qualify for this card if your credit score isn’t quite high enough for some of the other cards; it’s generally available to customers with good and better credit scores. The Citi Double Cash Card also offers a generous introductory APR balance transfer offer, although balance transfer fees apply. Pros
Good rewards rates with on-time card paymentsIntroductory APR on balance transfersModerate APR if you carry a balanceNo annual fee
Cons
Comparatively low rewards rate at time of purchase
At the end of your first year, Discover automatically matches your rewards earned so far, with no minimum spending or maximum rewards. The no-fee Discover It Cash Back Card also offers a generous introductory period for both purchases and balance transfers (balance transfer fees apply). Pros
Excellent cash back rewards on purchases in featured categories each quarterNo annual feeIntro rate on balance transfers and purchases
Cons
Attention required to maximize your rewards for each quarterSome cardholders may be tempted to spend more while certain categories offer high rewardsLower rewards on categories not featured in current quarter
Cards may have average or higher interest rates (APRs). If you carry a balance, you may be better off looking for a low APR card or special financing deal. High interest rates will cost you far more than you can save with cash rewards cards. You may be better off using a card with an introductory low- or no-interest rate. At least then you only pay interest after the introductory period ends. Always pay more attention to the interest rate you pay than to rewards rates. Rewards are great, but paying high interest rates will cost you far more than you save.
Chase Sapphire Preferred® Card: The Chase Sapphire Preferred Card offers outstanding points rewards after you spend a minimum amount in the first three months from account opening. You can spend the points for travel or redeem them for a slightly lesser amount of cash. You cannot be a current or recent Sapphire cardholder for this offer.Blue Cash Preferred® Card from American Express: If you’re making large purchases, the American Express Blue Cash Preferred Card can help you make a plan to pay it off while reducing the fees and interest you pay. It offers a low- or no-interest introductory rate when you split up your large purchase into monthly installments with Plan It by American Express. You’ll pay $0 in plan fees for plans set up in the first 12 months. The card offers its highest rewards on grocery purchases and certain online streaming services. However, if you spend in those categories anyway, the savings can help fund your home remodeling projects.
