The One Credit Card Every Homeowner Needs in Their Wallet
KEY POINTS
- Many homeowners spend quality time -- and money -- at the hardware store.
- The Citi Custom Cash® Card (an advertising partner with The Ascent) can earn up to 5% back on those purchases when it's your top spending category.
- Bonus rewards are capped at $500 in category purchases per year.
Going from renting to owning has changed my spending in a lot of ways. One of the more noticeable ones was how much more often I'm using my Citi Custom Cash® Card.
I've always loved this card for its great cash back rewards, but it wasn't until I was spending every other weekend at the hardware store that I truly appreciated how valuable this card could be for homeowners. Really, every homeowner should probably have one in their wallet.
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Fair to Excellent (580-850)
Intro APR
Purchases: 0%, 15 months
Balance Transfers: 0%, 15 months
Regular APR
19.24% - 29.24% (Variable)
Rewards 5% cash back in your top eligible spend category each billing cycle (up to the first $500 spent), 1% cash back on other purchases. Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025.
1% - 5% cash back
Annual Fee
$0
Welcome Offer Earn $200 in cash back after you spend $1500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
20,000 ThankYou® Points
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We love this card’s easy-to-use yet lucrative cash back program. Each billing cycle, cardholders earn 5% cash back in their top spend category (up to $500 spent in eligible categories). Eligible categories include grocery stores, restaurants, gas stations, select travel and more. The card automatically adjusts to your spending habits, which makes it easy to maximize your rewards.
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- Cash back rewards
- Sign-up bonus
- No annual fee
- 0% intro APR offer
- Bonus cash back limits
- Foreign transaction fee
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- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 19.24% - 29.24%, based on your creditworthiness.
- Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.
Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025. - No rotating bonus categories to sign up for – as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
- No Annual Fee
- Citi will only issue one Citi Custom Cash® Card account per person.
Earn 5% back at hardware stores
To be honest, I think everyone needs this card, not just homeowners. I mean, you get 5% cash back in your top spending category, on up to $500 in category purchases, every month. That's pretty darn great. And the list of eligible categories includes a lot of useful options:
- Drugstores
- Fitness clubs
- Gas stations
- Grocery stores
- Live entertainment
- Home improvement stores
- Restaurants
- Select streaming services
- Select transit
- Select travel
For homeowners, though, it's that bold one in the middle I want to call out: home improvement stores. If you own a home, you probably spend a decent amount of time at the hardware store. And if you own an older home, the people at the hardware store probably know your name. (Ask me how I know.)
Either way, you're probably spending a pretty penny on repairs, replacements, and updates. Wouldn't it be nice to get 5% back on those?
Maximize your rewards to earn $300 a year
Getting 5% cash back on up to $500 in hardware store purchases every month can add up very quickly -- starting none-too-soon after closing. Because what's the first thing you should do? That's right, all new locks. (We spent more than $300 replacing all of the locks in our house. That was fun.)
It keeps going from there, friends. And I can tell you from experience, it hasn't been that hard maximizing my Citi Custom Cash® Card rewards each month. Here's what that looks like in cash back:
Monthly Spend | Annual Spend | Annual 5% Cash Back |
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$25 | $300 | $15 |
$50 | $600 | $30 |
$100 | $1,200 | $60 |
$150 | $1,800 | $90 |
$200 | $2,400 | $120 |
$250 | $3,000 | $150 |
$300 | $3,600 | $180 |
$400 | $4,800 | $240 |
$500 | $6,000 | $300 |
As you can see, if you manage to hit the rewards cap every month on your card, you're looking at a cool $300 in cash back every year. That'll (almost) buy you a house full of new door locks!
Oh, and the other perks are nice, too
I got so excited about the purchase rewards that I almost forgot to mention the other great things about this credit card. For instance, new cardholders can earn a pretty competitive welcome bonus. (One big repair and that spending requirement is smashed.)
And I can't emphasize enough how much I love intro APR offers. The move to my new house was paid off via one, and the new furnace via another. So having a good intro APR offer on a card that also has bonus rewards at the hardware store…well, that's a very powerful combo.
Don't forget perhaps the best part of the whole thing: no annual fee.
Alright, so I admit it might be a bit of a stretch to say that everyone needs a particular card. But I really do think most homeowners can maximize the purchase rewards -- and everything else -- that comes with the Citi Custom Cash® Card. At the very least, it's worth checking out.
Alert: our top-rated cash back card now has 0% intro APR until 2025
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee! Click here to read our full review for free and apply in just 2 minutes.
Our Research Expert
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
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