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haulingthescoreup
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what's a good CC for maximum points or cash back for home improvement purchases?

Hi, everyone--as the subject line asks. In late winter I plan to start serious home improvement and remodeling, including a gut job on the kitchen and one bathroom. I have a HELOC to pay for this, but I'd like to run as much as possible through a card with a good points or cash back system. I currently have a card with 1 point per dollar spent on any kind of purchase. Can anyone suggest a card even better than that? I won't be using this new card to buy any plane tickets, I'm afraid--all my trips will be a mile and a half down the road to Lowe's and Home Depot.

--Scores at time of app should be at or above 720, God willing and the creek don't rise
--Don't care about interest rate--everything will be PIF'd each month
--Don't want to pay AF, unless the points are so terrific that it's worth it
--Most stores will probably take AmEx, although they seem targeted at travel charges, etc
--Once the dust settles, we're probably looking at around $20-25K in charged merchandise (labor will have to be paid with HELOC check)

Everyone please feel free to brag on their favorite cards, but to repeat, my shopping will be done at Lowe's/ Home Depot/ big appliance chains etc. No Jet Blue, I'm afraid, unless I have to ship DH off when he starts freaking out. thanks!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Registered: ‎06-30-2007
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Re: what's a good CC for maximum points or cash back for home improvement purchases?

Chase offers 3/$1 on home improvement 1/$1 otherwise 2,500 equals  $25 check or gift card, I would checking into which merchants they consider "home improvment"  Citi has a home improvment card don't know how it works
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
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netpanther
Posts: 1,694
Registered: ‎08-07-2007
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Re: what's a good CC for maximum points or cash back for home improvement purchases?

Chase Freedom is 3 pts. reward for wherever you spend. Don't know if there is something out there better for you- there are so many affinity and diff. plan cards you would almost want to google and see if there is something specifically that would give you rewards for purchases Lowes and Home Depot.
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imducky
Posts: 3,432
Registered: ‎08-27-2007
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Re: what's a good CC for maximum points or cash back for home improvement purchases?

citi has a home depot mc, not sure how the rewards are given out though.
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Brammy
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Re: what's a good CC for maximum points or cash back for home improvement purchases?

You could get a flat 50.00 cash back from HSBC platinum cash back for the same 2500.00 purchase, but I think they cap most at 400.00/year (20k in spending) and its invite only.  I think if you are expecting to spend a LOT of money you may want to look at tiered cards.
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haulingthescoreup
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Re: what's a good CC for maximum points or cash back for home improvement purchases?

Wow, lots of good info, everyone! One problem with opting out is that now I don't have that wheelbarrow-full of junk mail to sort through for offers. I'll probably stay away from specific store cards, because I'm looking for maximum flexibility.

I'll start checking these out, but any other suggestions are definitely welcome!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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haulingthescoreup
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Re: what's a good CC for maximum points or cash back for home improvement purchases?


Brammy wrote:
I think if you are expecting to spend a LOT of money you may want to look at tiered cards.

Brammy, I meant to ask, what are "tiered cards?" I ignore ads and commercials so much that it just dawned on me that the Chase Freedom card is that one with the Stones song. I guess I'm going to have to start paying attention to the TV.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Brammy
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Re: what's a good CC for maximum points or cash back for home improvement purchases?



haulingthescoreup wrote:

Brammy wrote:
I think if you are expecting to spend a LOT of money you may want to look at tiered cards.

Brammy, I meant to ask, what are "tiered cards?" I ignore ads and commercials so much that it just dawned on me that the Chase Freedom card is that one with the Stones song. I guess I'm going to have to start paying attention to the TV.

 
In his case these are cards that offer more rewards, depending on the amount spent.  Amex Blue Cash is such a card.  The more you spend,the more rewards your earn.
 
Now other tiered cards aren't necessarily a good thing.  Like when some banks approve you at their 'standard', 'elite' or whatever interest rate, your card can never change from that rate.  The only way to get a better rate is to reapply when your credit improves and reage your file.

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Sylviatob
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Registered: ‎09-14-2007
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Re: what's a good CC for maximum points or cash back for home improvement purchases?

hauling, have you ever heard of Direct Buy, or Buy Direct(I can never remember). It's a discount buying club all over the U.S. You are able to save literally thousands of dollars remodeling. They have everything, from furniture to appliance, to construction materials, etc. My spouse has a friend who used them and wound up saving $6,000 over that of the other quotes they got. Good luck to you, and keep me posted. We are wanting to redo our kitchen and 2 bathrooms. Phew. Talk about expensive!
"Never ever, ever be late. Never" (FUTR)
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haulingthescoreup
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Re: what's a good CC for maximum points or cash back for home improvement purchases?

I've heard of them, and I guess I'll have to go listen to their pitch. I heard that the joining fee is pretty steep, and so it will depend on whether the savings will balance out the fee. My kitchen is a whopping 11 x 14, so it's not like I can go completely berserk in there! lol

The current plan is to wait until our 22-year-old daughter comes back from doing 9 months of Katrina work, and she can be general contractor. So that backs the big projects back to around late April or early May. She's such a penny-pincher that she would probably refuse to order anything that she considered too expensive. See, even when I'm in a position to get into trouble, I'll have a safety net! Of course, she's the one who'll be taking on $200K+ of med school loans, so I guess she's working out her anxieties on me.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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