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Synchrony Home cardholders have access to card-linked offers, which are digital coupons that can be added to your credit card. When you make a qualifying purchase, the coupon is automatically applied. As of this writing, most offers were for deferred interest of varying lengths. But despite those thousands of Synchrony Home partners, this credit card isn’t a true "open-loop" card that can be used anywhere the card’s payment network is accepted. Deferred interest can save you money on interest charges, but only if you are able to pay off the entire balance before the promotional period ends.
MyLowe’s Rewards Credit Card*
Your high earnings are capped at $2,000 in spend each quarter, after that you’ll earn one point per dollar. Huntington doesn’t charge foreign transaction fees on any of its credit cards. Other benefits are sparse but you do get an extra day to make your payment before the late fee kicks in. NerdWallet's credit cards team selects the best credit cards in each category based on overall consumer value.
Best for monthly projects
However, you’ll be assessed interest on any unpaid balance unless the card offers an intro APR deal for a specified period of time. For example, many cash-back credit cards offer a welcome bonus of a couple hundred dollars after you meet a required minimum spend in a certain time period. If you are looking at buying a new $1,500 refrigerator for your kitchen, you could consider a card offering a $200 cash-back welcome bonus with a $1,500 minimum spend requirement.
Best for 0% intro APR
If you’re going to be paying for gas, groceries and utility bills anyway, you might as well get something in return. You can also earn a welcome bonus of $200 after spending $1,000 within the first 90 days of account opening, which you can put toward home improvement costs. And if you need to pay off a large home improvement project over time, this card also comes with a 0 percent intro APR on purchases for 18 billing cycles (then a variable APR of 17.74 percent to 27.74 percent).
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Instead, it tries to entice people with financing offers, which seem promising but can end up costing you money if you don’t understand their terms. We believe everyone should be able to make financial decisions with confidence. Promotional financing can be a useful tool, as it allows you to purchase things you need today—such as furniture, appliances, mattresses, flooring and more—with the flexibility to pay for them over time. The Synchrony HOME Credit Card is accepted at all Synchrony HOME Partner locations.
Best Offers
Cardholders must select their category choice online or via the mobile banking app. When your home improvement project is done, simply switch to another category and earn high rewards on that spending. If you'll need to spread the cost of a project over several months, consider applying for a card with a 0% intro APR period, which can save you money on interest. Some of the best rewards credit cards — including those that offer high rates on home improvement — come with 0% periods of well over a year.
Discover it® Cash Back
Just make sure you can easily meet the minimum spending requirement within the timeframe specified or you’ll miss out. But don’t go over budget just to qualify for a bonus — those extra rewards are not worth taking on high-interest balances. Bank Cash+ card’s ability to choose your own category, this card still ensures that you’ll earn a high rate of rewards on a category you spend a lot of money in. A card that yields the best rewards on a major remodeling project may not be the same card for multiple trips for smaller purchases. And someone who could use extra time to pay off a big project at home might fare better with a card offering an extended 0% introductory APR since the interest rate charged by most credit cards will outweigh any rewards. If you’re hoping to use a home improvement credit card to finance a large home expense, it’s important to consider how much you could realistically pay toward the purchase per month.
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I just spoke to customer service & they said the card is store specific, in other words I can only use credit available with vendor I purchased HVAC from. If I want to use at other retailers participating with Synchrony Home Design, I must apply for a new card with each store participating. I had red online if card has VISA or MasterCard logo, it can be used anywhere. Mine does not, customer rep said currently they do not offer Visa or MasterCard with this card.
The Wells Fargo Active Cash offers an unlimited 2% cash rewards rate on purchases and charges no annual fee. This puts it in competition with the best flat-rate cash back cards on the market. The Citi Custom Cash also comes with a 0 percent intro APR on new purchases and balance transfers for the first 15 months, followed by a variable APR of 18.99 percent to 28.99 percent. Plus, you’ll get the chance to earn a welcome offer of 20,000 ThankYou points — worth $200 in cash back — after spending $1,500 in the first six months of account opening. You can also buy gift cards for home improvement stores with your credit card in stores that align with a card’s bonus categories.
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Divide your purchase amount by that number to calculate how many months it would take you to pay it off. Then, look for credit cards that offer 0% intro APR periods of at least that length. You also get bonus rewards at grocery stores and wholesale clubs, plus a great new-cardholder bonus offer.
Keep in mind, though, that while store cards tend to pay solid rewards for in-store shopping, they tend not to offer sign-up bonuses and they rarely come with a 0% interest period. Some of them may offer interest-deferred "special financing" on larger purchases, but be careful with these. Many credit cards offer sign-up bonuses of $150 to $200 or more when you spend a certain amount of money in the first few months after opening your account. Get a new card for your project, and you may be able to hit the requirement easily. Then you can put that “free money” toward the project and lower your overall costs even more. The best credit card for home improvement varies since many homeowners have different goals and spending habits.
The Wells Fargo Reflect® Card has one of the longest 0% intro APR periods on the market — approaching almost two years. You'll be hard-pressed to find a longer interest-free promotion, and it applies to both purchases and balance transfers. If you don't mind putting some work into your rewards, check out the U.S. You pick which categories earn the most cash back — you get two 5% categories and a 2% category — and you can change those options every quarter. The promotional summary box on your monthly statement will clearly show the balance for each promotional financing purchase and corresponding expiration date.
If you have a larger project to finance, the Lowe's Advantage Credit Card can also provide a decent 84-month fixed payment plan that acts similar to what you may get with a personal loan. If your project is not large enough for such a long financing period, you can opt for a more basic option of no interest on purchases of $299 or more when paid in full within six months. Before choosing a new credit card for home repair expenses, you should identify your goals. Are you looking to earn cash-back rewards to use any way you’d like?
Consumers who want to save money on interest can also opt for cards that offer 0 percent APR on purchases for a limited time. Although these offers can easily lead to significant interest savings, it’s important to remember that they don’t last forever. Make sure you pay down your balances beforehand because once the 0 percent intro APR timeframe is up, your card’s APR will reset to a much higher variable interest rate.
The simplest way to use credit cards to save on home improvement is to earmark your rewards for home purchases. For example, use a flat-rate cash-back card to earn 1.5% or 2% cash back on every purchase everywhere, then redeem those rewards for statement credit against purchases made for your project. Even though store credit cards have limited acceptance, they can still be a good deal for brand-loyal customers. The Synchrony Home Credit Card offers accountholders deferred-interest financing deals. So, it might be worth getting for people who shop at the card’s affiliated retailers often. At Bankrate we strive to help you make smarter financial decisions.
If you don’t, you’ll be charged interest on the original purchase amount that’s been accruing throughout the promo period. Alternatively, someone doing a significant home makeover could see if any Synchrony HOME retail partners are offering longer term promotional financing. This would allow the homeowner to get what they need today while paying off the purchase over time. Taking it a step further, you can get a card that offers bonus cash back in relevant categories, like one of the cards described above. A card that offers 5% on home improvement, for example, generates a more-or-less-instant $50 in savings on a $1,000 project.
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