Home Improvement Spend

[credit8502020]

Hi All,

I know someone that has to spend about $5,000 on a Home Improvement. Which cards today would you think would be best to capitilize on spending this amount? I've looked at Chase Sapphire Preferred, but want to make sure I consider other cards for them as well. They'll be spening about $1,500 of that at Lowes as well, but didn't want to get a store specific card. 

Thanks for your feedback.

[coldfusion]

Just to give an example, they can get 3% back on up to $2500 spend per quarter with the BoA Customized Cash Rewards card if they select the home improvement category.  Lowe's is given (as is Home Depot) as a specific example of a merchant that qualifies under this category.    If they can split the spend between 2 different quarters (Jan-March, Apr-June, July-September, Oct-December) they can pretty much cover the entire spend at 3% and also qualify for the $200 signup bonus. 

The thing with a CSP or a AMEX MR-earning card is whether or not the points earned can effectively leveraged.  Something like a Citi Premier or BoA Preferred Rewards card may be a viable alternative as it's straightforward to convert their rewards, both earned and SUB, into cash and their annual fees are the same as that for the CSP.  These aren't the only options, but given the amount of spend they can look at other cards with large signup bonuses (NFCU Flagship is another option if they qualify for membership).

[credit8502020]

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@coldfusion wrote:

Just to give an example, they can get 3% back on up to $2500 spend per quarter with the BoA Customized Cash Rewards card if they select the home improvement category.  Lowe's is given (as is Home Depot) as a specific example of a merchant that qualifies under this category.    If they can split the spend between 2 different quarters (Jan-March, Apr-June, July-September, Oct-December) they can pretty much cover the entire spend at 3% and also qualify for the $200 signup bonus. 

The thing with a CSP or a AMEX MR-earning card is whether or not the points earned can effectively leveraged.  Something like a Citi Premier or BoA Preferred Rewards card may be a viable alternative as it's straightforward to convert their rewards, both earned and SUB, into cash and their annual fees are the same as that for the CSP.  These aren't the only options, but given the amount of spend they can look at other cards with large signup bonuses (NFCU Flagship is another option if they qualify for membership).

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@coldfusion Thank you for your feedback and providing those details. Can you speak more on this comment and give an example? I want to make sure I'm clear about instances when the points may not be able to be effectively leveraged. The goal was to use the points from the SUB towards flights ideally. "The thing with a CSP or a AMEX MR-earning card is whether or not the points earned can effectively leveraged." 

[coldfusion]

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@credit8502020 wrote:

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@coldfusion wrote:

Just to give an example, they can get 3% back on up to $2500 spend per quarter with the BoA Customized Cash Rewards card if they select the home improvement category.  Lowe's is given (as is Home Depot) as a specific example of a merchant that qualifies under this category.    If they can split the spend between 2 different quarters (Jan-March, Apr-June, July-September, Oct-December) they can pretty much cover the entire spend at 3% and also qualify for the $200 signup bonus. 

The thing with a CSP or a AMEX MR-earning card is whether or not the points earned can effectively leveraged.  Something like a Citi Premier or BoA Preferred Rewards card may be a viable alternative as it's straightforward to convert their rewards, both earned and SUB, into cash and their annual fees are the same as that for the CSP.  These aren't the only options, but given the amount of spend they can look at other cards with large signup bonuses (NFCU Flagship is another option if they qualify for membership).

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@coldfusion Thank you for your feedback and providing those details. Can you speak more on this comment and give an example? I want to make sure I'm clear about instances when the points may not be able to be effectively leveraged. The goal was to use the points from the SUB towards flights ideally. "The thing with a CSP or a AMEX MR-earning card is whether or not the points earned can effectively leveraged." 

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As examples if you wanted to use UR to book a flight on Delta metal or MR to book a flight on United metal it could be done but it would be a somewhat convoluted exercise as United does not partner with AMEX nor Delta with Chase.  A way of doing it would be to transfer MR to a partner who is a Star Alliance member like Air Canada or UR to a partner who is a SkyTeam member like KLM,  and leverage that partnership to book flights on United or Delta as appropriate. 

Hoops that may be OK to jump through as a one-off may not be so OK to have to jump through on a recurring basis. 

[credit8502020]

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@coldfusion wrote:

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@credit8502020 wrote:

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@coldfusion wrote:

Just to give an example, they can get 3% back on up to $2500 spend per quarter with the BoA Customized Cash Rewards card if they select the home improvement category.  Lowe's is given (as is Home Depot) as a specific example of a merchant that qualifies under this category.    If they can split the spend between 2 different quarters (Jan-March, Apr-June, July-September, Oct-December) they can pretty much cover the entire spend at 3% and also qualify for the $200 signup bonus. 

The thing with a CSP or a AMEX MR-earning card is whether or not the points earned can effectively leveraged.  Something like a Citi Premier or BoA Preferred Rewards card may be a viable alternative as it's straightforward to convert their rewards, both earned and SUB, into cash and their annual fees are the same as that for the CSP.  These aren't the only options, but given the amount of spend they can look at other cards with large signup bonuses (NFCU Flagship is another option if they qualify for membership).

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@coldfusion Thank you for your feedback and providing those details. Can you speak more on this comment and give an example? I want to make sure I'm clear about instances when the points may not be able to be effectively leveraged. The goal was to use the points from the SUB towards flights ideally. "The thing with a CSP or a AMEX MR-earning card is whether or not the points earned can effectively leveraged." 

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As examples if you wanted to use UR to book a flight on Delta metal or MR to book a flight on United metal it could be done but it would be a somewhat convoluted exercise as United does not partner with AMEX nor Delta with Chase.  A way of doing it would be to transfer MR to a partner who is a Star Alliance member like Air Canada or UR to a partner who is a SkyTeam member like KLM,  and leverage that partnership to book flights on United or Delta as appropriate. 

Hoops that may be OK to jump through as a one-off may not be so OK to have to jump through on a recurring basis. 

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@coldfusion Ok. Great! Thank you for that example.

[wasCB14]

I'd just focus on something with a nice SUB.

I personally use Amex Business Platinum for rental properties, but that's a business card and requires high minimum spend.

[credit8502020]

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@wasCB14 wrote:

I'd just focus on something with a nice SUB.

I personally use Amex Business Platinum for rental properties, but that's a business card and requires high minimum spend.

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@wasCB14 Thank you! As of now, that is the plan. I'm looking at the 80,000 SUB for Chase Sapphire Preferred, but wanted to make sure I wasn't missing any other better options. 

[ptatohed]

Probably not even worth mentioning since not many have the Nusenda card and it would be capped at $1500 but Nusenda has 5% home imps this quarter.  

[Credit4Growth]

@credit8502022

At this point in time the 80,000 SUB offer for the CSP may be obtain in branch.  

If you have made your final decision, GL to you and visit them soon as to not missing out on that offer.

[credit8502020]

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@ptatohed wrote:

Probably not even worth mentioning since not many have the Nusenda card and it would be capped at $1500 but Nusenda has 5% home imps this quarter.  

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@ptatohed Thank you for mentioning!