The upcoming $600 stimulus check isn’t exactly big bucks, so if you have to make a high-dollar purchase, getting a new credit card could be a smart money move. However, people generally have their own goals for finding a new card to cover a considerable expense. Usually, these include:
- A generous welcome bonus: If you’re going to spend big on a large purchase regardless, you might as well use a rewards credit card to collect a mountain of cash back or points from a promotional offer. Usually, you have to spend upwards of thousands of dollars in a short time to earn these rewards.
- Zero-interest: Some cardholders may favor a lengthy introductory period with zero APR to spread interest-free payments over a more extended period. Look for credit cards with introductory APRs of a year or more.
These two situations are available mostly for new customers as an incentive to sign up for a credit card.
You might be planning for a wedding, a new roof, a significant car repair, or some other big-time expenditure. Whatever the case, make sure you check out NerdWallet’s recommendations for the best credit cards for large purchases.
These cards are ideal for those with good or excellent credit, as lenders are more willing to offer a higher credit limit to accommodate a big-ticket purchase.
Best 0% Intro APR Promotions
If delaying steep interset payments on new purchases is your main concern, then these credit cards are your best options. While you can’t earn rewards, it’s a great way to avoid paying interest for as long as possible.
Best Zero APR Period, But No Rewards
US Bank Visa Platinum Card
Get 0% APR for 20 months on both purchases and balance transfers, then 13.99% to 23.99% variable after that depending on your creditworthiness. You must have excellent credit, though there’s no annual fee.
- Wells Fargo Platinum
- HSBC Gold Mastercard
0% APR And Cash Back Rewards
Capital One Quicksilver Cash Rewards Credit Card
This credit card offers a shorter zero-APR introductory period, but it offers cash back that can still help you save on large purchases, making it an excellent overall card with flat-rate rewards.
Pay zero interest on purchases for 15 months. After that, the APR changes from 15.49% to 25.49%, depending on your credit. Additionally, you can enjoy 1.5% cash back on all purchases, with no limits. There’s also no annual fee.
- Chase Freedom Unlimited
- Chase Freedom Flex
- Capital One SavorOne Cash Rewards Credit Card
Best 0% APR And Travel Rewards
Discover it Miles
Few travel credit cards offer lengthy 0% APR intro periods, but if you can pay off a big purchase within a shorter timeframe, you can find many valuable travel cards that come with welcome bonuses.
The Discover it Miles credit card offers zero APR for 14 months and 10.99% for balance transfers. After that, the variable APR switches to 11.99% to 22.99%, depending on your credit. Discover charges no annual fee for any of its cards.
You can also earn 1.5 miles for every dollar spent with your card — with no limit on how much you can get or spending restrictions. When you redeem your miles, you can earn statement credits for your next trip.
- Wells Fargo Propel American Express
- Bank of America Travel Rewards
- Capital One VentureOne Rewards
Best Sign-Up Bonuses
If you’re going to spend big on something and already have the cash to cover it, using a rewards credit card can get you serious cash back or rewards points. Keep in mind that the best rewards cards typically have annual fees.
Best Cash Back Welcome Bonus
Capital One Savor Cash Rewards
This card has a $95 annual fee, but you can get $300 in cold hard cash when you spend a minimum of $3,000 in the first three months you open an account. You can also enjoy 4% cash back on dining and entertainment, 2% at the supermarket, and 1% on everything else — with no limits on the rewards you can earn.
- Discover it Cash Back (no annual fee)
Best Travel Rewards Welcome Bonus
Chase Sapphire Preferred
If you spend $4,000 within three months after opening a new account, you can get 60,000 bonus points — a $750 value when you redeem your points for travel with Chase Ultimate Rewards. Plus, you can get twice the points on all travel and dining worldwide and one point for every dollar on everything else. There is a $95 annual fee.
Premium Travel Rewards Welcome Bonus
Chase Sapphire Reserve
You can earn 50,000 bonus points when you use your Chase Sapphire Reserve on $4,000 in purchases within three months. When you use the Chase Ultimate Rewards portal to redeem your points and book your next trip, that’s a $750 value.
Not only that, but you can get triple the points on travel and dining purchases and one point for every dollar on everything else. Of course, all of this luxury comes at a price: the Chase Sapphire Reserve has an annual fee of $550.
- Platinum Card from American Express
What if you already used a credit card for a large purchase and you can’t pay it back quickly? In this case, you might consider a balance transfer credit card with a zero-APR offer. Just keep in mind that most cards like these charge $5 or 3% of the amount you transfer, depending on which is greater.
- Karp, Gregory. “NerdWallet’s Best Credit Cards for Large Purchases.” NerdWallet, 15 Dec. 2020, www.nerdwallet.com/article/credit-cards/best-credit-cards-for-large-purchases.