Comparing home improvement credit cards

By Jeremy M. Simon

When springtime rolls around each year, Americans nationwide can be found working on their homes.  But if you are just looking at the hardware store for tools to help with home improvements, there is one piece of plastic you may be missing -- a credit card.

The Chase Home Improvement Rewards Credit Card lets cardholders earn extra points for spending on home improvement purchases.  While the credit card rewards you with one point for every dollar spent and every dollar in interest, the Chase Home Improvement Rewards Credit Card gives three points for every dollar spent on home improvement purchases, or 3 percent cash back.  Cardholders can redeem every 2,500 points for either a $25 gift card or gift certificate at popular merchants like the Home Depot, Sears and Snap-on, or a $25 check.

If the thought of redeeming points for a Home Depot gift card is especially appealing, then consider The Home Depot Rewards MasterCard, which rewards purchases at the Home Depot with two points for every dollar spent, as well as one point for each dollar in spending elsewhere.  Double points are also awarded when you shop at EXPO Design Center, The Home Depot Landscape Supply and The Home Depot Floor Store.  Every 2,500 points earned on The Home Depot Rewards MasterCard can be redeemed for a $25 Home Depot gift card.

For many homeowners, the biggest improvement is simply paying off their mortgage.  The Citi Home Rebate Platinum Select MasterCard lets cardholders reach that goal by earning a full 6 percent rebate on utilities, cable or satellite TV, Internet and telecommunications for six month, plus a full 1 percent on all other credit card purchases.  Those rebates are then automatically applied to their mortgage principal, with no maximum on the amount of rebates that can be earned in a year.

Finally, newlyweds may need some extra help creating a home for themselves, which is where The Nest Credit Card from American Express comes in.  The Nest Credit Card rewards you with one point for nearly every dollar in card spending, plus 5,000 points the first time the credit card is used and 10,000 bonus points each year more than $15,000 is spent on the card.  Reward points can be redeemed for gift cards, with The Nest Credit Card also giving cardholders access to offers like savings from The Nest retail partners and The Nest Store.   

For more information on the Chase Home Improvement Rewards Credit Card, Home Depot Rewards MasterCard, Citi Home Rebate Platinum Select MasterCard and The Nest Credit Card from American Express, click on the "apply here" button for each offer, and then click on an underlined link for "pricing and terms" or "terms and conditions."

Published: May 10, 2007

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