When people make purchases at home improvement stores (Lowe’s, Ace, etc etc) they are usually quite large – which is why it’s important to try and use credit cards that earn at a high rate at these stores. Below is a list of cards that earn category bonuses on home improvement stores, we’ve split them into personal and business cards (also apologies to the reader who originally asked for this, sorry it took so long! I’ve forgotten who you are, so I haven’t e-mailed you this but hopefully you read it anyway).
Personal Cards
Huntington Voice 3% Cash Back
The Huntington Voice credit card lets you choose your own 3% cash back categories. One of the categories you’re able to choose is home improvement stores. The card has no annual fee, but your limited to $2,500 in spending per quarter in that category ($60 cash back) so for those making a lot of purchases this wouldn’t be a very good choice.
You can also get an extra 10% cash back on all rewards earned (making this a 3.3% cash back card), if you have a Huntington 5 or 25 checking account open. Although the fees on these accounts make this bonus not really make sense. More on this bonus here.
Bank of America Cash Rewards 3%-5.25% Cash Back, First $2,500 Per Quarter, No Annual Fee
The Bank of America cash rewards card lets you select one category to earn 3% cash back in on the first $2,500 in spend per quarter. This deal becomes better with Bank of America Preferred Rewards program. This lets you earn another 25-75% back, meaning this card can earn up to 5.25% cash back on this category.
Honorable Mentions
Chase Freedom – 5% In Rotating Categories
The Chase Freedom card earns 5% cash back in rotating categories that change quarterly (maximum spend of $1,500). Home improvement stores have been a 5% category in 2013, 2014 & again in 2015 all in the second quarter. The downside to a card like this is that you won’t be able to use it for unexpected purchases in Q1, Q3 or Q4.
Discover it – 5% In Rotating Categories
Much like the Chase Freedom card mentioned above, the Discover it also earns 5% cash back in rotating categories (with the same $1,500 spending limit per quarter). Home improvement stores were a 5% category in 2011, 2012, 2014 in Q2 and will probably be part of the Q3 promotion for 2015.
Citi Dividend – 5% In Rotating Categories
You might be noticing a theme here, but the Citi Dividend also offers 5% cash back in rotating categories. There is one slight difference though and that’s the fact that you can spend up to $6,000 per year in these quarters (rather than being limited to $1,500 per quarter). Home depot is a 5% category for Q2 in 2015.
It’s not possible to apply for this card directly, but you can downgrade an existing Citi card to this product (this card was removed from direct applications when the Citi Double Cash card was introduced).
Business Cards
I don’t currently know of any credit cards that earn a category bonus on home improvement stores, prove me wrong in the comments.
Cards We Didn’t Include
Lowe’s Credit Card – 5% Discount/6 Month Financing/One time 10% Discount
Apart from the major disadvantage of only being a discount at Lowe’s, the biggest problem with this card is that if you used any coupons or discounts you won’t get the 5% discount this card offers. It’s always possible to get a 10% discount with the Lowe’s movers coupon, so using this card does not make sense.
Home Depot Credit Card –Â No Interest For Six Months
If you make a purchase for $299 or more, you can get it interest free for six months. Obviously this has the same pitfalls as the Lowe’s card as well and doesn’t offer any real rewards program apart from this special financing.
Final Thoughts
There really aren’t a lot of credit cards that specifically target home improvement stores. Instead what I’d recommend is that you either buy gift cards to stores that you want to shop at from a gift card reseller (use giftcardgranny to see the rates they offer). If you don’t feel comfortable doing this, you can purchase the giftcards yourself from a store where you do have a category bonus (e.g if you have a card that earns 5% cash back at grocery stores, you could purchase gift cards to Lowe’s there). Here is a full list of all the credit cards that earn 5% cash back or more and below are links to what the best credit cards are for other categories:
- Best credit cards for grocery store purchases
- Best credit cards for non category spending
- Best credit card for department store purchases
- Best credit cards for telecommunication expenses
- Best credit cards for drugstore purchases
- Best credit cards for charity donations
- Best credit cards for office supply stores
- Best credit cards for restaurant purchases
- Best credit cards for bookstore purchases
I’m sure I’ve missed some credit cards that earn a category bonus on home improvement stores, if I have let me know in the comments and I’ll add them. As always, if you have a question feel free to e-mail me or ask on Twitter.
