Best Credit Cards for Home Improvements in 2020

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Americans pay a pretty penny to upgrade their homes every year.

In 2019 alone, homeowners spent an average of $7,560 per year on home improvement renovations, according to a HomeAdvisor report.

It’s inevitable — no matter how careful you are with your budget, unexpected costs will always arise with renovation projects large and small. But, if you use the right credit card, you can save on these expenses and even benefit from added perks like cash back, promotional financing and more.

Below, CNBC Select rounds up the best credit cards for home improvements so you can earn rewards while remodeling your home (and potentially raising the resale value) — no matter what kind of project you have planned.

Best credit cards for home renovations

Best home improvement store card

Lowe’s Advantage Card

Lowe's Advantage Card

Information about the Lowe’s Advantage Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

  • Rewards

    5% off eligible purchases

  • Welcome bonus

    Save 10% on a qualifying purchase, up to $100. Valid though 7/31/20

  • Annual fee

  • Intro APR

  • Regular APR

  • Balance transfer fee

  • Foreign transaction fee

  • Credit needed

Who’s this for? Though store cards can have their drawbacks, such as low credit limits and high interest rates, homeowners who find themselves visiting home improvement stores often may want to take advantage of the benefits offered the Lowe’s Advantage Credit Card.

The Lowe’s credit card offers an everyday 5% discount on eligible in-store and online purchases. It can’t be combined with other promotions and discounts, nor can it be used to pay for service charges like delivery and installation fees. Yet, this 5% can go a long way when you’re racking up a large bill on expensive items like light fixtures, tiling and cabinets.

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.

Like every promotional financing period, in order to reap the full benefits of this card you must be diligent with your repayment plan. Make sure you pay the balance in full before the six-month offer ends to avoid interest charges. Continuing to carry a balance after six months will cause you to incur deferred interest, which is a charge for all the interest you accrued since the date you made your purchase.

Though this card has no annual fee, it has a high 26.99% variable APR, making it crucial that you pay your balance on time and in full each month.

Check out how the

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A Deal on Drug Prices Undone by White House Insistence on ‘Trump Cards’

Judd Deere, a White House spokesman, would not comment specifically on the savings cards.

But he noted that Mr. Trump had held back on an executive order the industry fiercely opposed, which would tie some drug prices to the prices paid by other countries — called “most-favored nation” drug pricing. Now the president is poised to link the prices that Medicare pays for drugs administered in doctors’ offices to those paid even by social democracies in Europe.

“President Trump is working to ensure American patients are no longer forced to pay outrageously higher drug prices than those in other countries,” Mr. Deere said. “President Trump signed four executive orders earlier this summer. However, he did not release the final executive order on ‘most-favored nation’ drug pricing, giving drug companies a month to come up with a counterproposal. Negotiations did not produce an acceptable alternative, so the president is moving forward.”

It appears, then, the industry will have to confront the executive order it hoped to avoid.

Last Sunday, Mr. Trump released the order, which calls for the establishment of pilot programs tying some Medicare drugs to prices abroad. They are unlikely to be established before the election, and the industry is almost sure to file suit in response.

“The administration has chosen to pursue the most favored nation policy — an irresponsible and unworkable policy that will give foreign governments a say in how America provides access to treatments and cures for seniors and people struggling with devastating diseases,” said Stephen J. Ubl, who heads PhRMA.

Mr. Meadows’s gambit illustrates the extent of the last-minute scramble by White House officials to score political victories ahead of November.

With the president’s response to the coronavirus widely criticized, the White House has grasped for other ways to impress voters. In recent days, Mr. Trump has extended a ban on offshore oil drilling off the coast of Southern states, unveiled a multibillion-dollar aid package for hurricane-ravaged Puerto Rico, some of whose residents have migrated to must-win Florida, announced another $14 billion in aid to farmers and plunged into Middle East peacemaking.

Some officials in the drug industry, though, said they found it mystifying that Mr. Meadows would play what they saw as political hardball with some of the same private-sector companies that Mr. Trump is pressuring to deliver the October surprise he craves the most: a coronavirus vaccine.

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Queen Elizabeth II Could Be Removed by More Countries as the ‘House of Cards Falls’

Queen Elizabeth II could face a rash of countries removing her as head of state with Barbados causing the “house of cards” to fall, a royal expert has told Newsweek.



Elizabeth II wearing a wedding cake: Queen Elizabeth II talks to guests at an evening reception for members of the Diplomatic Corps at Buckingham Palace on December 11, 2019 in London, England. The monarch now faces Barbados removing her as its head of state.


© Victoria Jones/Getty
Queen Elizabeth II talks to guests at an evening reception for members of the Diplomatic Corps at Buckingham Palace on December 11, 2019 in London, England. The monarch now faces Barbados removing her as its head of state.

The Caribbean island announced plans on Tuesday to remove the queen as its head of state and achieve “full sovereignty” before the 55th anniversary of independence from the U.K. in November 2021.

The move has triggered speculation of a domino effect among pro- and anti-monarchy commentators alike.

Jamaica is widely tipped as the next country to remove the queen, although the opposition People’s National Party lost a general election earlier this month after promising a referendum on becoming a republic.

Ingrid Seward, author of upcoming biography Prince Philip Revealed, told Newsweek: “I thought that was really sad about Barbados.

“I’d been there a lot because I had friends that lived there and they always seemed to like the queen.

“It seems to me that once one country goes the house of cards falls a little bit.”

Prince Harry and Meghan Markle recently called for the Commonwealth, made up predominantly of countries in the former British Empire, to have a conversation about the past in order to move on from colonialism.

However, Seward said she believed he may also have contributed to the problem with his own past behavior, including an infamous incident in which he wore Nazi

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Decorated Winter Garden veteran wishes for 100 cards for 100th birthday

Larry Cheever, a veteran who served in WWII, is celebrating his 100th birthday. He and his family are hoping that they can get at least 100 birthday cards for the veteran.Larry was a medic in the army and served from 1942 through 1945. He was located just above everywhere from North Africa to France, Belgium and Italy. Larry was honored with a Bronze Star and had the honor to not only help soldiers but civilians.As the decorated WWII veteran turns 100, his family and American Legion Post 63 in Winter Garden want to make sure he gets at least 100 birthday cards. The cards have already started flowing in. This weekend, a parade of cars will swing by Larry’s house in Winter Garden to wish him a happy birthday and present him with a new treasure trove of cards. Send Larry a birthday card at the address below: 1055 N West Crown Point Road Winter Garden, FL, 34787 The birthday parade will be held at the same location from 1 p.m. to 2 p.m.

Larry Cheever, a veteran who served in WWII, is celebrating his 100th birthday. He and his family are hoping that they can get at least 100 birthday cards for the veteran.

Larry was a medic in the army and served from 1942 through 1945. He was located just above everywhere from North Africa to France, Belgium and Italy.

Larry was honored with a Bronze Star and had the honor to not only help soldiers but civilians.

As the decorated WWII veteran turns 100, his family and American Legion Post 63 in Winter Garden want to make sure he gets at least 100 birthday cards. The cards have already started flowing in.

This weekend, a parade of cars will swing by Larry’s house in Winter Garden to wish him a happy birthday and present him with a new treasure trove of cards.

Send Larry a birthday card at the address below:
1055 N West Crown Point Road
Winter Garden, FL, 34787

The birthday parade will be held at the same location from 1 p.m. to 2 p.m.

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