These 2 Credit Cards Give Me at Least 3% Back on Home Improvements
KEY POINTS
- At long last, I'm a homeowner -- and consequently, I have already spent hundreds of dollars on paint and furnishings.
- The Bank of America® Customized Cash Rewards credit card has home improvement and furnishings as a 3% bonus category.
- The Prime Visa has paid me 5% cash back on all the Amazon home furnishings orders I've made in the last few weeks.
After more than two years of hoping, planning, and whipping my finances into shape, I finally did it -- I'm a homeowner! This process involved many moving parts, and as I write this, the marathon finish line is finally in sight. I'm just a few days from waking up in my new house, now that I've cleaned, painted, and bought a ton of home furnishings.
It hasn't been cheap. But thankfully, I've earned at least 3% cash back on all my home purchases with the help of two credit cards in particular.
1. Bank of America® Customized Cash Rewards credit card
I'm a long-time Bank of America customer. I have bank accounts there, I financed a car there when I was a student, and I even got the mortgage for my last (ill-fated) home purchase there. But honestly, my favorite thing about being with Bank of America is having easy access to its credit cards.
On Bank of America's Secure Website.
On Bank of America's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 19.24% - 29.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
19.24% - 29.24% (Variable)
Rewards 3% cash back in the category of your choice, 2% at at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, 1% on all other purchases.
1% - 3% cash back
Annual Fee
$0
Welcome Offer $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
$200 cash back
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This card's wide range of extra cash back options speaks for itself, with a choice of six bonus categories you can change monthly for 3% earnings in the category of your choice. And you can earn 2% back automatically at grocery stores and wholesale clubs. No annual fee and a nice welcome bonus also make this one a winner. Plus, if you're a Bank of America Preferred Rewards member, this card will be even more valuable for you. Read Full Review
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- Competitive welcome bonus
- Bonus cash back in a category of your choice
- No annual fee
- Great 0% intro & transfer APR offer
- Relationship rewards bonus
- Foreign transaction fee
- Limit on bonus cash back
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- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
- Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishings purchases.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
I've had the Bank of America® Customized Cash Rewards credit card for about six years now. The special way this card functions means it always fits seamlessly into my life and spending.
The secret to this card is in its name: customized cash rewards. What does that mean? You get to earn 3% cash rewards in one of six bonus categories, and you can change your chosen one as often as every month. These include:
- Gas and EV charging stations
- Online shopping, including cable, internet, phone plans, and streaming
- Dining
- Travel
- Drug stores and pharmacies
- Home improvement and furnishings
It's that last category that I'm making heavy use of right now. Last month, after my mortgage closing was scheduled, I switched from online shopping to home improvement and furnishings. So every time I make a trip to Home Depot or At Home, I whip out this card and get 3% cash rewards on whatever I buy. That includes paint, rugs, and the utility knife I scooped off a clearance table that has already made my life easier.
2. Prime Visa
As a bit of an Amazon superfan, perhaps it's not so surprising that so much of my home improvement-related spending has been at Amazon so far. Ordering a fancy new trash can, curtains, and cat furnishings to make the new house a happy home for my trio of furry roommates is all the sweeter thanks to the Prime Visa.
I've had this card for over four years, and it's saved me hundreds on Amazon purchases. This Chase card earns 5% cash back on Amazon purchases. Plus, I can redeem those rewards the very next day. Unlike a lot of cash back cards (like the Bank of America card discussed above), I don't have to wait until the end of the statement period. Since I've placed 14 Amazon orders (yes, I just counted) since I closed on my mortgage less than three weeks ago, I've nearly always had a few bucks in rewards to redeem on every order. It's like an instant discount.
Credit cards can be a new homeowner's BFF
Buying and furnishing a home is an involved and expensive process, so it really pays to save money wherever you can. Credit card rewards can help. However, there's also a reason credit cards have a reputation as being bad for your finances: carrying a balance can be costly. As someone who's struggled with debt in the past, I'm cautious about only charging purchases I can afford to pay off right away.
Thankfully, I spent over a year and a half saving money to buy a house, and that included enough money to cover paint, tools, and more. By paying off my credit card charges as soon as they hit, I'm benefitting from at least 3% cash back on all my home improvement purchases -- what could be better?
Our Research Expert
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