Home improvement rewards credit cards
A home improvement rewards credit card is one that will allow you to collect rewards anytime that make a purchase that is related to home improvement. In most cases the decision as to whether an item is related to home improvement will be based on the store that you bought it at. If you are doing major home improvement work this can be a good deal since they generally offer better rewards than a general rewards card does. However there are some things that you will want to keep in mind before you get a home improvement rewards card.
Obviously the value of a home improvement credit card is going to depend on how likely you are to improve your home. If you don't actually own your home there is little reason to have one of these cards. The same is true if your home is a new construction or if you have no plans at improving your home. However if you are thinking about improving your home in the not too distant future then it might make sense to think about one of these credit cards.
There are some things that you will need to keep in mind when you are looking at a home improvement rewards card. The biggest is where you can use your card. The big home improvement stores will all have their own cards available and most of them will offer some sort of rewards program. The problem with these is that you are limited to using your card in their store. The other option is that you can get a generic card that you can use anywhere. In most cases you will then get rewards points any time you use your card at a store that carries home improvement products.
You are also going to want to look at what kind of rewards are being offered when you use your card. Most will offer discounts on future home improvement expenses. This can be great if you are doing ongoing work but doesn't to you much good if your home improvement project was a onetime thing. The other option that you might want to think about is a cash back card. The rewards be as valuable as they would if you use a card that allows you to collect points but cash is obviously something that everybody could use.
One thing that you do have to be careful about is that you don't end up spending money that you don't need to in order to collect a reward. For example if you get a card at one home improvement retailer but then find out you can buy a necessary product at another store cheaper you don't want to pay more just to collect the points. And it should go without saying that you don't want to do unnecessary work just because you can collect points by doing so, the points are not that valuable.