Chase Freedom and Discover cardholders may want to redo that bathroom or kitchen renovation this spring.
Chase said Wednesday that purchases up to $1,500 at Lowe's -- one of the largest home improvement retailers -- will earn up to 5 percent cash back from April through June on the Chase Freedom credit card. Similarly, Discover cardholders will get 5 percent back on purchases from home improvement stores, up to $1,500, during the same period.
That means if you need to shell out $3,000 on new cabinets, flooring, light fixtures, appliances and paint -- it would be best to split the costs on your Discover and Chase Freedom credit cards to get the most cash-back rewards.
Want even more points? You could use your Discover card for any restaurant and movie charges until the end of March and receive a 5 percent cash-back bonus in those categories as well. Then, from April to June, switch to your Chase Freedom card for those purchases and you can get 5 percent cash back in those categories in addition to your Lowe's purchases.
Currently, Chase Freedom cards are offering these accelerated cash-back earnings on gas stations, drug stores and Starbucks purchases through the end of March.
Both credit cards offer 1 percent back on all other purchases, with no limits. Cardholders must register to receive the accelerated cash-back earnings.
But make sure you can pay off your entire bill each month. Otherwise, your interest charges will be funding your cash-back bonus, which won't be a bonus at all.
Do you time your purchases with rotating spend categories on your rewards card?
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