Best Rewards Credit Cards of [current_month_year] (2024)

6 Best Credit Cards for New Homeowners and Home Renovations of 2024

Best for Choice Retailers: U.S. Bank Shopper Cash Rewards® Visa Signature® Card

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U.S. Bank Shopper Cash Rewards® Visa Signature® Card

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Annual Fee

$0 intro annual fee the first year

$95

Regular APR

Cash Advance APR: 29.99%, variable

19.74%-29.74% variable

Intro Bonus

Get a $250 bonus after you spend $2,000 in eligible purchases within the first 120 days of account opening. And enjoy $0 intro annual fee the first year ($95/year thereafter).

$250 bonus and $0 intro annual fee

Credit Score

Credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.

Good – Excellent

Why we chose it: Pick your two favorite retailers out of 24 options to earn up to 6% cash back, including Home Depot, Lowe’s and Ace Hardware. Plus, you can earn up to 3% cash back on another popular everyday spending category of your choice.

Pros

• Earns up to 6% cash back at three retailers you choose
• Unlimited 1.5% cash back on all other purchases
• Get 5.5% cash back on hotels and rental cars booked through U.S. Bank

Cons

• Cash back bonuses are capped on spending each quarter
• Bonus rewards are limited to select retailers, not categories of purchases
• Annual fee of $95 applies after the first year

Best for Preferred Rewards Members: Bank of America® Customized Cash Rewards Credit Card

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Bank of America® Customized Cash Rewards Credit Card

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Annual Fee

$0

Regular APR

19.24% – 29.24% variable

Intro Bonus

$200

$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

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Credit Score

Credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.

Good-Excellent

Why we chose it: Bank of America offers up to 75% more rewards to customers who qualify for the bank’s Preferred Rewards program. Combining this boost with the up to 3% cash back this card earns on a category of your choice, including home improvement and furnishings, you can earn up to 5.25% cash back. Read the full Bank of America® Customized Cash Rewards Credit Card review.

Pros

• Earn up to 3% cash back on the category of your choice
• 0% Intro APR offer on purchases and balance transfers for 15 months
• No annual fee

Cons

• Bonus cash back is limited to combined spending of $2,500 per quarter
• Only one category earns the 3% cash back rate at a time
• 3% Foreign transaction fee

Best for Home Improvement Stores: Citi Custom Cash® Card

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Citi Custom Cash® Card

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Annual Fee

$0

Regular APR

19.24% – 29.24% variable

Intro Bonus

$200 cash back

After spending $1,500 on purchases in the first 6 months of account opening

Credit Score

Credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.

Good-Excellent

Why we chose it: You’ll earn up to 5% cash back on the eligible spending category of your choice each month, including home improvement stores and grocery stores. The card has no annual fee and also includes a 0% intro APR offer on purchases and balance transfers for 15 months. Read the full Citi Custom Cash® Card review.

Pros

• Earn 5% cash back on the first $500 spent each billing cycle in your top eligible spending category
• $200 cash welcome bonus after spending $1,500 within six months
• No annual fee

Cons

• Earns just 1% on all other purchases
• Does not include purchase protection or extended warranty coverage
• Balance transfer fee of 5% (minimum $5)

Best for Unlimited Cash Back: Citi Double Cash® Card

How we rate our cards Advertiser disclosure

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Citi Double Cash® Card

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Annual Fee

$0

Regular APR

19.24% – 29.24% variable

Intro Bonus

$200 cash back

$200 cash back when you spend $1,500 on purchases within the first six months of opening your Citi Double Cash® card account

Credit Score

Credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.

Good-Excellent

Why we chose it: Many new homeowners may not want to worry about bonus categories and prefer a simplified approach to earning rewards. The Citi Double Cash Card earns an unlimited 2% cash back—1% cash back when you make purchases plus another 1% as you repay your balance. Read the full Citi Double Cash® Card review.

Pros

• Unlimited 2% cash back
• 0% intro APR on balance transfers for 18 months
• Transfer to airline and hotel partners through Citi ThankYou

Cons

• Must pay off purchases to earn the full 2% cash back
• No intro APR offer on purchases
• Cannot transfer to the full collection of airline and hotel partners

Best for U.S. Supermarkets: Blue Cash Preferred® Card from American Express

Why we chose it: You’ll likely be eating at home more often as you get used to the new expenses of being a homeowner. This card is one of the most lucrative available for U.S. supermarket purchases and could come in handy when stocking up a new home with food. Read the full Blue Cash Preferred® Card from American Express review.

Pros

• High cash back earned at U.S. supermarkets and on select U.S. streaming subscriptions
• Intro APR offer on purchases and balance transfers
• Earn a $250 statement credit welcome bonus after spending $3,000 within six months

Cons

• Elevated cash back (6%) on U.S. supermarket purchases limited to $6,000 spent each year (then 1%)
• $95 annual fee applies after the $0 intro annual fee in the first year
• Highest cash back rates are restricted to eligible purchases within the U.S.

Best for Long Intro APR Offer: Wells Fargo Reflect® Card

How we rate our cards Advertiser disclosure

Wells Fargo Reflect® Card

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Annual Fee

$0

Regular APR

18.24%, 24.74% or 29.99% variable

Intro Bonus

0% intro APR for 21 months

Credit Score

Credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.

Good-Excellent

Why we chose it: The Wells Fargo Reflect offers the longest 0% intro APR offer of any card on this list, making it ideal for financing larger purchases. Cardholders get 21 months of interest-free financing on purchases and balance transfers to pay off their debt over time. Read the full Wells Fargo Reflect® Card review.

Pros

• 0% intro APR offer on purchases and balance transfers for 21 months
• No annual fee
• 24/7 roadside dispatch

Cons

• Does not earn rewards
• No welcome bonus offer
• Purchase protection and extended warranty are not included

A Closer Look at the Credit Cards for New Homeowners

Best for Choice Retailers: U.S. Bank Shopper Cash Rewards® Visa Signature® Card

Why we love this card: This card is the best when you have favorite retailers because you’ll earn your highest rate of cash back on those purchases. You’ll choose two out of 24 retailers to earn this competitive rate, and you can earn a slightly lower but still competitive rate on a third spending category of your choice as well.

Who should have this in their wallet: Shoppers who want to earn maximum rewards at their favorite retailers may find their match in this card. Instead of rotating categories you don’t control, cardholders can focus on their favorite retailers to maximize rewards.

Other cards to consider: While many credit cards offer category bonuses, it is rare that you get to select specific merchants. The Bank of America® Customized Cash Rewards Credit Card and the Citi Custom Cash Card allow you to select bonus categories and earn up to 3% and 5%, respectively, without paying an annual fee.

Best for Preferred Rewards Members: Bank of America® Customized Cash Rewards Credit Card

Why we love this card: Customers who qualify for Bank of America’s Preferred Rewards program earn up to 75% more rewards based on their total banking and investment balances with Bank of America. This turns a good rewards card into an excellent one with cash back rates of up to 5.25%. It also features a robust spending cap of $2,500 per quarter, which is higher than most competing cards.

Who should have this in their wallet: This credit card for new homeowners is ideal because you can update its 3% bonus category once a month based on your changing spending patterns. The card’s value is increased because it has no annual fee you need to offset with the first rewards earned.

Other cards to consider: While this card has six spending categories to choose from, your biggest expenses may be elsewhere. The U.S. Bank Cash+® Visa Signature® Card earns 5% cash back on the first $2,000 you spend in two categories you choose each quarter. Plus, it earns an unlimited 2% cash back in another everyday category of your choice and 5% on prepaid travel booked through U.S. Bank.

Best for Home Improvement Stores: Citi Custom Cash® Card

Why we love this card: Cardholders automatically earn the top 5% cash back rate on their highest eligible spending category each billing cycle. You don’t have to preselect a category ahead of time, so you’ll always earn the highest rewards where you spend the most.

Who should have this in their wallet: Homeowners who want to update or renovate their homes will love the Citi Custom Cash Card as a credit card for home improvements. It automatically applies the 5% cash back rate on their highest spending category, including purchases at home improvement stores. For a limited time, cardholders can also earn 5% cash back when booking hotels and rental cars through Citi Travel.

Other cards to consider: While the Citi Custom Cash Card has an appealing 5% cash back rate, it only applies to one spending category. A card like the U.S. Bank Cash+ Visa Signature Card is an excellent credit card for home improvements because it applies its 5% bonus cash back to multiple categories you choose each quarter. Plus, it earns an unlimited 2% cash back on everyday spending, like gas and groceries, without charging an annual fee.

Best for Unlimited Cash Back: Citi Double Cash® Card

Why we love this card: The Citi Double Cash Card is a simple way to earn bonus rewards on every purchase you make. While it doesn’t have high-end bonuses like other cards, it earns an unlimited 2% on every purchase without bonus categories or spending caps.

Who should have this in their wallet: Busy homeowners will love the Citi Double Cash Card because it’s easy to earn rewards on every purchase. It is an excellent credit card for new homeowners making numerous purchases at stores, contractors and other service providers that may not fall into predefined categories that qualify for bonus rewards with other cards.

Other cards to consider: Other cards that earn transferable rewards include the Chase Freedom Unlimited® and the Wells Fargo Autograph℠ Card. The Freedom Unlimited earns a minimum of 1.5% cash back on every purchase, and when combined with an eligible card, you can transfer those rewards to airline and hotel partners. Wells Fargo recently introduced transfer partners, which significantly increases the value of its rewards.

Best for U.S. Supermarkets: Blue Cash Preferred® Card from American Express

Why we love this card: Buying or renovating a home can be expensive, so many homeowners save money by cutting back on eating out. This card earns 6% cash back on the first $6,000 you spend at U.S. supermarkets each year (then 1%), one of the most competitive earning rates available in this category.

Who should have this in their wallet? This card is a solid choice for new homeowners because it encourages dining in rather than eating out. It also provides interest-free financing on purchases and balance transfers with its intro APR offer, allowing you to pay off your balance without incurring interest charges for a limited time.

Other cards to consider: For new homeowners who want to maximize rewards at U.S. supermarkets, the American Express® Gold Card earns 4X points on up to $25,000 in purchases per calendar year (then 1X points). You can redeem these points for travel, statement credits, gift cards and more or transfer to airline and hotel partners for potentially even more value.

Best for Long Intro APR Offer: Wells Fargo Reflect® Card

Why we love this card: With the added expenses of buying a house and home improvements, many people need extra time to pay off their bills. You get almost two years of interest-free financing with this card. While it doesn’t earn rewards on purchases, its long-term intro APR offer can be just as valuable.

Who should have this in their wallet: This credit card for new homeowners is an excellent choice when you need to make purchases today but don’t have the money on hand immediately. Credit card interest can be high, so having an intro APR lets you avoid interest charges as long as you pay off the balance before it expires.

Other cards to consider: Other credit cards with longer intro APR offers include the Citi Custom Cash Card and the Bank of America® Customized Cash Rewards Credit Card, which offer 15 months on both purchases and balance transfers. These cards also earn bonus points on home improvements and other eligible spending categories, which the Reflect Card does not.

Who Needs a Credit Card For Home Renovations?

Home renovations can be messy, stressful and take longer to complete than you initially expected. Using a credit card for home renovations is a wise choice, and here are five common reasons why you should consider applying now.

• Earn a welcome bonus. You may have the opportunity to earn an introductory bonus based on hitting a minimum spending requirement in a certain time period. Some of these requirements can be quite large, so using your home renovation costs could make them easier to reach.
• Extra time to pay off purchases. Credit card interest rates are normally a prohibitively costly way to finance home improvements; However, with a 0% intro APR offer, you can finance these larger purchases for the length of the intro period and avoid interest charges.
• Don’t want to refinance. Many homeowners today have low-rate mortgages and don’t want to do a cash-out refinance to pay for home improvements. By using a credit card for home improvements, you can leave your current mortgage rate in place and earn rewards on the money you spend.
• Rebuild credit. Buying a home or making home improvements can be stressful on your finances. These things can lead to damaged credit that needs to be rebuilt over time. Using a credit card responsibly can rebuild your credit with on-time payments and low utilization.

How to Maximize Credit Card Rewards During Home Improvements

When getting a credit card for new homeowners, it is wise to maximize rewards and other benefits during home improvements. Consider these factors when comparing card options and using them to make purchases.

Rewards Rate

Select a credit card with a high earning rate to maximize the rewards earned on your purchases. You can get a card with a bonus on specific spending categories, like home improvement store purchases or a high flat earning structure. For example, the Citi Double Cash Card earns 2% on every purchase, including at home improvement and furniture stores.

Spending Caps

Some credit cards offer a high rewards rate, but limit how much you can earn each period at that rate. Depending on the card, the spending limits may reset every month, quarter or year. Pay attention to the fine print to avoid spending more than the cap and missing out on valuable rewards.

Intro APR Offer

Home improvements or buying furniture and appliances can be expensive. An intro APR offer on purchases provides extra time to pay off your purchases without incurring interest charges. Using one of these offers, you can earn valuable rewards today and pay off your purchases over time. You’ll avoid paying interest as long as you pay off your balance before the promotional rate expires.

Purchase, Return and Price Protection

Purchase protection typically reimburses you when an eligible item is lost, stolen or damaged shortly after you buy it. Return protection can step in when the retailer won’t accept a return. Price protection gives cardholders the confidence to make a purchase now because it pays the difference within a certain number of days when you find a lower price.

Extended Warranty

With extended warranty coverage, you’ll typically receive up to an extra year on top of the U.S. manufacturer’s warranty on eligible items. This complimentary benefit can save you money by allowing you to decline additional warranties offered during checkout.

Other Credit Cards for New Homeowners

As a new homeowner, buying the home and making improvements aren’t the only expenses you’ll incur. Consider these credit cards to maximize rewards and benefits on everyday purchases throughout the year.

Capital One Savor Cash Rewards Credit Card

After buying a home or doing a renovation, many homeowners cut back on eating out and entertainment. When you’re ready for a night out on the town, maximize your rewards with unlimited 4% cash back on dining and entertainment with the Capital One Savor Rewards. For those nights when you’re staying home, unlimited 3% cash back at grocery stores will help you unleash your inner chef in your new kitchen. After approval, you can also earn a one-time $300 cash bonus when you spend $3,000 in the first three months.

Wells Fargo Autograph Journey℠ Card

Whether you’re traveling for business or pleasure, the Wells Fargo Autograph Journey has you covered. This card earns 5x points on hotels, 4x points on airlines and 3x on dining and other travel purchases. Wells Fargo also recently introduced transfer partners, so your points have even more value when booking award travel. While the card has a $95 annual fee, it also features a $50 annual statement credit when you make an airline purchase of $50 or more. When you spend at least $4,000 in the first three months, you’ll receive 60,000 bonus points worth at least $600 in travel.

Ink Business Unlimited® Credit Card

Many homeowners qualify as a small business and they don’t even realize it. Small business credit cards are available for side hustles, rental property owners and other ways of making money. The Ink Business Unlimited is a business credit card that earns an unlimited 1.5% cash back on every purchase without charging an annual fee. It also includes an intro APR offer on purchases and you can add employee cards for free. New cardholders can also earn a welcome bonus of $750 after spending $6,000 within three months.