[DISCLOSURE: Cards from our partners are mentioned below.]
When your needs grow beyond the square footage of your home, it might be time to build an addition. Whether you need a new bedroom, a home office, or a porch, additions can add value to your home and give you the extra space you need.
But if you’re buying supplies or labor with a credit card, you can quickly rack up a lot of debt. Some credit cards can provide an assist, helping you avoid interest or earn rewards on your purchases.
Here are two credit cards for building a home addition.
Home Depot Consumer Credit Card
Sign-Up Bonus: None
Annual Fee: $0
APR: 0% APR for up to 24 months on eligible purchases, then variable 17.99% to 26.99% APR.
Why We Picked It: This card helps you avoid interest on purchases from the home improvement giant.
For Your Addition: If you buy home addition supplies at Home Depot, this card might be right for you. All purchases of $299 and up automatically qualify for 0% APR for six months. Home Depot also offers up to 24 months interest-free on many purchase types, including appliances, carpeting, bathroom appliances, and more.
Drawbacks: If you aren’t a Home Depot customer, keep looking.
Rewards: 1.5% cash back on all purchases.
Sign-Up Bonus: $150 bonus cash if you spend $500 in the first three months.
Annual Fee: $0
APR: 0% for 15 months on purchases and balance transfers, then 16.74% - 25.49% Variable APR.
Why We Picked It: This card strikes a great balance between rewards and 0% intro APR.
For Your Addition: All purchases, including your addition expenses, earn 1.5% cash back. You’ll get 15 months of interest-free purchases and balance transfers.
Drawbacks: It’s not the highest cash back rate on the market.
How to Choose a Card for Your Addition
Before you sign up for a credit card to fund your addition, you should research all your financing options. If the cost of your addition is very high, or if you plan to hire a contractor for labor and supplies, a loan might be the better choice.
But if you plan to do all or some of the work yourself, a credit card could be a good fit for your home improvement purchases. If you’re looking for rewards, you should try to find a card that rewards your home improvement purchases or fits your overall spending habits if you plan to use it for other things.
As for 0% APR offers, try to find one that will allow you enough time to make all your purchases interest-free. If you’re still buying supplies by the time the 0% APR expires, you could end up paying more interest than necessary.
What Credit Is Required for a Card for Your Addition?
Credit cards with strong rewards or 0% APR offers usually require good or excellent credit. Before you apply for a card, check to make sure your credit can get you approved. You can check your credit score absolutely free at Credit.com.
If you’re concerned about your credit, you can check your three credit reports for free once a year. To track your credit more regularly, Credit.com’s free Credit Report Card is an easy-to-understand breakdown of your credit report information that uses letter grades—plus you get two free credit scores updated every 14 days.