Best credit cards for buying home improvement/rehab material

17 Replies

Hey guys.  Been trying to figure out the best way to pay for the construction materials, and best thing I could come up with is the Citi Double Cash for 2% cashback.  The Home Depot and Lowe's cards I don't think are worth it, I can get 10% coupons myself and they're offering 5% off, so no point.  I was thinking something home rehab-centric for 5% cash back..Just planning right now, don't want to go in without a plan and then lose on my cashback opportunities at the end.  Please share your experiences with this if you don't mind.

Prob got the best option with that two percent.

unless you can get 10% coupons for every visit its best to just go with those big box cards. Every thing else I've seen is only for a few months or less cash back. Plus you can get discounts at the pro desk if you ask. 

Did you apply for the HD project loan? They can grant your 2 loans for 50k each.

I'd find a card that is likely to get you a high credit limit, and allow for balance transfers at 0% APR for some period of time. Decline the balance transfers until they grant you the card, then move them over.

Get a Chase Ink Business Card. 

5X's earnings (Chase ultimate reward points) at office supply stores. 

Buy the Home Improvement gift cards at Office Depot/Staples. 

Use Home Improvement gift card at Lowes/Home Depot or whoever accepts it. 



I have an Amex Blue Cash Preferred and a Discover "it" that I like. 

I would go with whatever you can get with a decent limit and an introductory 0%

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

Thanks everyone.  @Justin Reed, that's a genius idea..never thought of that, awesome.

Hi there as a veteran and contractor,I get a better discount as a vet. at HD. and LOWE'S. and points when I use my charge card to buy.

I just got approved for a Chase Ink Business credit card 3 minutes after reading this thread. Thanks @Justin Reed

Ideally for a rehab materials purchase you'd want a card with an introductory 0%APR or 0%APR for 12 months for balance transfers.

@Aldo Ricaurte Use the Ink card to buy your gas too! (gas gift cards at office supply stores) Happy Point Collecting!

The only thing you cannot buy with Ink Card at office store is Visa/Mastercard gift cards that have a loadable amount- 20-500 load gift cards.  You can buy fixed amount gift cards at Staples no problem.  

Is the HD card 5% cashback or 5% discount?  If cashback, I'd use the Home Depot card and the movers coupons.  Otherwise use the 2% card to buy discounted gift cards(check out to find sources), and use them with the coupons.  Currently would amount to of a discount of almost 20%!

Example:  $100 item at HD

-$10.00 10% movers coupon =$90.00

Pay with 9% off Gift cards = 81.90 -2% cashback =$80.26

Thanks..Far as I know, it's a 5% discount for HD cards.  The problem there is I can't use the 10% coupons with the 5% discount, as a manager told me one day, "you can't double dip" :)

Hopefully your  RE Entity has business accounts at Wells Fargo.     I am a  hold guy so I get rent checks.   They will give you credit lines for 25% of deposits.   (BLOC) Which can be a lot.   Then get the  PLOC personal.    These run 10-12% revolving but it is easy to get up to 100k credit lines. ( I have multiple entities so two business lines BLOC and one personal PLOC.)  Then you want the BOA, Chase, and Discover cards.  Those 3 constantly send 0% checks for 18 months.   I use the BLOC to transfer for a few days until the new 0% checks clear or get paid balance down to zero so you can use the new checks.    With this strategy I have carried upwards of 60k revolving at zero percent.   I use my contractors 10% HD discount and this works for me. I hope this helps.  

Thanks Tony.  I'm nowhere near those levels yet, but one day :)  Thanks..good points.

Tony Johnson Thank you for sharing your experience ! By the way - how do they the calculate 25% BLOC - from monthly or yearly deposits ?
Alexander Morgovsky By the way - HD cards at Raise go with additional 5% off today You could get 10% off Lowe's cards from eBay and they may work at almost all competitors And if you are a member of local REI group - you could have 2% group cash back at HD for all your cards ( you need to sign up for that)

Jane, annual deposits.   25% of annual deposits.  I learned that once you understand the underwriting guidelines you can use them to your advantage.  For instance, I applied for the BLOC and they only gave me like 5k, so I politely argued, asked a lot of question, and then I learned about the 25% rule, so I applied again.   At the time my Real Estate Brokerage was depositing tons of checks so got one there also.   I was able to close on 14 homes, and I refinanced 6 or 7 since  Dec 2011 and in the beginning several banks told me no to the first  investment mortgage.  If you want from the banks, you have to be tenacious.   I moved everything I had from BOA to WF for those lines, lines of credit are the most important thing to holders.   As I got more established I learned you can always get mortgages, always, it is the down payment you need the lines for. 

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