How to Use a Reward Credit Card for Home Improvement

There are many kinds of reward credit cards in the market.  If you really want to get the most benefit, it’s important that you choose a reward card that suits your needs and lifestyle.  Some reward credit cards are meant for frequent travelers while others have been designed for car owners. Cash back reward credit cards are also popular particularly because these cards can be used by anyone.

There are also credit cards that offer special programs such as hotel reward credit cards and credit cards that donate rewards to charitable organizations.  If you are a home owner, you may also look for a credit card that offers home improvement rewards.

What are credit cards with home improvement rewards?  As the name suggests, these reward cards are especially created to attract home owners.  These cards give a reward each time you use your credit card for repairs, renovation, upgrades, and other expenses associated with the maintenance of your home.  How can this type of reward credit card help you?

If you frequently spend on home repairs and maintenance, charging these expenses to your reward credit card can help you earn points which can be exchanged for cash or mortgage payment. Yes, a home improvement reward credit card can actually be a tool to help you pay down your mortgage at a sooner time.

For example, the Citi Home Rebate Platinum Select Mastercard allows you to use your rebates to pay down your mortgage.  Upon signing up, you can enjoy 6% rebated on utility services for the first six months.  Utility services include cable, satellite, internet, telephone, and pay TV bills.  After the introductory period, the cardholders can earn 1% rebate for every dollar spent on general purchases.  There is no limit to the value of reward you can earn and the points never expire.

The Discover More Card is a type of cash back reward credit card that offers its holders 5% cash back on selected categories including home.  This means, you can earn more points if you will use your card for purchases from home improvement shops and merchants.

The Chase Home Improvement Rewards Card offers twelve months of 0% introductory rate. Cardholders can earn 1 point per dollar on general purchases, and 3 points per dollar on home improvement purchases home improvement stores. Points do not expire but there is a limit of 30,000 home improvement points per year.

Do you plan to add a room in your house, redecorate your living room or to create an extension? Are you planning to buy a new household appliance? If yes, this may be the perfect time for you to consider acquiring a reward credit card with home improvement rewards.

Before signing up, check out the interest rate and the fees associated with the card.  If the home improvement reward credit card offers an introductory rate, make sure that the regular APR will still be reasonable when the introductory period ends.  Also, check out the home improvement stores affiliated with the credit card and make sure that these are shops that you purchase from.

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