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Best Credit Card Offers for New Homeowners

Jan. 14, 2015
Credit Cards
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  • Citi ThankYou® Preferred Card

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New homeowners need a credit card offer that meets their spending and rewards needs. Whether you want high rewards overall, rewards specifically for your home improvement purchases, or rewards when you leave your home, we’ve found the best credit cards for people who own their homes.

Citi® Double Cash Card – 18 month BT offer: Best for overall high cash rewards

If you don’t want to mess around with rotating reward categories, but you do want high rewards, the Citi® Double Cash Card – 18 month BT offer is an awesome card. It offers 1% cash back when you make purchases and another 1% back when you pay them off. Rewards are redeemable for statement credit, check or gift cards.

The Citi® Double Cash Card – 18 month BT offer has an annual fee of $0. It has an introductory APR of 0% on Balance Transfers for 18 months, and then the ongoing APR of 15.74% - 25.74% Variable APR.

>>More: How to Maximize Credit Card Rewards When Shopping

Discover it® Cash Back: Best for 5% rewards on home improvement purchases

If you find yourself at Home Depot more often than the grocery store, you’ll want a credit card that rewards you for your home-improvement purchases. The Discover it® Cash Back offers 5% back on the following rotating quarterly categories:

Discover bonus rewards categories for 2019
Q1 (Jan. 1 – March 31)Grocery stores
Q2 (April 1 – June 30)• Gas stations
• Uber and Lyft
Q3 (July 1 – Sept. 30)• Restaurants
• PayPal
Q4 (Oct. 1 – Dec. 31)• Amazon.com
• Target (in store and online)
• Walmart.com

Occasionally, one quarter offers 5% rewards on home improvement purchases. But you’ll only receive the high rewards on your first $1,500 in spending on the quarterly categories — after that, you’ll receive the normal rewards rate of 1%.

The Discover it® Cash Back has an annual fee of $0 and no foreign transaction or over-the-limit fees. You’ll receive access to your free FICO score, and the card has an introductory APR of 0% on Purchases and Balance Transfers for 14 months, and then the ongoing APR of 14.24% - 25.24% Variable APR.

Citi ThankYou® Preferred Card: Best for getting out of the house

If you’re a new homeowner, chances are you spend a lot of time in the house. However, in order to avoid cabin fever and the steady spiral into hermithood, you may want a credit card that rewards you for leaving your home. The Citi ThankYou® Preferred Card offers 2X points on dining and entertainment and 1 point for every dollar spent on everything else. Rewards are redeemable for many different things, but they are best redeemed for gift cards and cash equivalents — like mortgage payments.

The Citi ThankYou® Preferred Card has an annual fee of $0 and an introductory APR of 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 15.49% - 25.49% Variable APR.