If you are a contractor or an individual who spends a lot of money on building supplies or home improvement, then you will want to consider one of the many rewards credit cards that allows you to be rewarded when you purchase building supplies. One such card that offers these rewards is the Ace Hardware Rewards Visa card from US Bank.
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Using a rewards card when you know you are going to spend thousands or even hundreds of thousands of dollars on a project is an excellent way to be paid back for what you buy. However, you do need to understand the complexities of the reward program offered by the Ace Hardware Rewards Visa card before you choose this option.
Ace Rewards Visa Rewards Program
With the Ace Rewards Visa card, you will earn rewards for every dollar that you spend, no matter where you spend your money. The earnings are 1 point or 1% cash back for every dollar you spend.
This is where things get a bit more complicated. If you spend $1 at a grocery store or a gas station, then you will get 2 points or 2% cash back for every $1 that you spend. This applies to any gas station or grocery store you visit.
If you spend money at an Ace Hardware store, then you will receive 5 points or 5% cash back for every $1 you spend. After you spend $12,000 at Ace, your total awards points will be 7 or 7% if you choose cash back.
The Ace Visa also offers a bonus rewards program. This program allows you to get an additional 9% or 9 points for every $1 you spend. This is only possible if you make a purchase through their shopping site for which you can sign up at acerewardsvisa.com.
Ace Rewards Visa Terms
There terms for this card are:
- 13.99% to 22.99% APR depending on your credit score
- 23.99% APR for cash advances
- 3% or $5 balance transfer fee and check cash advance fee
- 4% or $5 ATM fee and cash advance fee
- 4% or $10 cash equivalent advance fee
Ace Rewards Visa Bottom Line
The bottom line is that this isn’t a bad choice for a credit card. The interest rates are a bit high if you have excellent credit; however, if you pay off your balance every month and collect the rewards, then this is a great option.
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