Should You Charge Home Renovations to a Credit Card? - Yahoo Finance

Using a credit card to charge home improvement renovations to can be smart when fixing up a home. However, it depends on certain variables. The interest rate of the financing should be 0% for the deal to be good. Certain cards also offer cash back rewards so you can apply that to your bill or other things you may need. And one great thing about using credit cards is the ability to finance it for 30 days before needing to pay it off. Do not carry a balance.

Key Takeaways:

Charging expensive renovations to your credit card can make sense if you earn rewards and either make use of a promotional 0% APR or pay the bill off within 30 days.
Be careful with 0% APR promotions, however, as some cards will charge you “retroactive interest” on the full amount spent if you have any unpaid amount at the end of the promo period.
Some contractors and home improvement companies give you discounts for paying cash that may exceed the amount of any credit card rewards you would receive.

“Using a credit card to pay for labor or materials to renovate your home can be the financially smart decision, but it all depends on some variables including the financing rate and how quickly you’ll pay off the balance.”