Hardware Store Credit Cards Are Still More Appealing Than Ever
Almost any home improvement project ends up being much more expensive than you think it will be. The cost of materials, labor and permits all add up to large sums of money by the time everything is said and done. It’s not cheap to work on your home.
Banks lend money all the time to individuals who want to improve their homes, but most banks require you to have some sort of equity before you can get a loan. Even if you do have equity built up in your house some banks may charge additional loan fees and higher interest rates than normal based on your credit score and a number of other factors. Credit cards from hardware stores have some unique advantages.
Zero Interest for a Limited Time: Many of those hardware store credit cards give you a period of 6 to 12 months with zero interest charges as long as you use the credit card in their store. Those savings could add up to big money if you are able to pay back part of the amount you borrowed on the credit card. Even more importantly, big stores like Lowe’s Home Centers may have different credit cards available for your unique personal situation.
Store Discounts: Hardware store credit cards often give you lower prices on building supplies and even service jobs you may order from the store. Sometimes these discounts are for a limited time, but they can add up to big cost savings if you purchase what you need at the right time.
Home Improvement Convenience: These large home improvement stores now offer just about everything you could need to upgrade your home and most offer lots of contractor services to actually do the work for you. They’re no longer just for the DIY handyman and handywoman. Now they are large outlets designed to offer everything you could possibly need for your home projects. With one store credit card you can purchase the supplies you need as well as hire someone to do all the work for you!
These hardware credit cards can end up being a win-win for both the customer and the store. The store sells more inventory and makes more profit while the customer is able to “borrow” more money to make home improvements without having to pay any interest for a limited time! A limited time of no interest payments, possible discounts and the ease of ordering everything in one store makes those large hardware store credit cards a pretty good idea in many cases!
Tags: A debt consolidation refinancing and home improvement loan