Table of Contents In this article

Why You Can Trust CNET Money

CNET Money’s mission is to help you maximize your financial potential. Our recommendations are based on our editors’ independent research and analysis, and we continuously update our content to reflect current partner offers. How we rate credit cards
Advertiser Disclosure

CNET editors independently choose every product and service we cover. Though we can’t review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site.

Best Credit Cards for Large Purchases for March 2024

These credit cards could help you get more time to pay down an expensive purchase while also earning you rewards.

  • CNET'S PICK
    CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
    8/10
    Annual Fee $0 intro annual fee for the first year, then $95.
    Rewards Rate
    1% - 6% 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%); 6% Cash Back on select U.S. streaming subscriptions; 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more; 3% Cash Back at U.S. gas stations; 1% Cash Back on other purchases
    Intro offer available Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
    9.5/10
    Annual Fee $0
    Rewards Rate
    1% - 5% Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership; Earn unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare); Earn unlimited 1% back on all other purchases
    Intro offer available Get a $100 Amazon Gift Card instantly upon approval exclusively for Prime members
  • CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
    9/10
    Annual Fee $95
    Rewards Rate
    1x - 5x 5x on travel purchased through Chase Travel℠.; 3x on dining, select streaming services and online groceries.; 2x on all other travel purchases.; 1x on all other purchases.
    Intro offer available Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.
  • CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
    7.5/10
    Annual Fee $250
    Rewards Rate
    3x - 4x Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S.; Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).; Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
    Intro offer available Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.

Certain credit cards can help you finance large purchase with an introductory 0% APR offer. A 0% intro APR means your credit card balance won’t accrue interest for a set amount of time. Credit cards can also earn you rewards on a planned purchase, and a big-ticket item could set you on track toward earning a card’s welcome bonus.

So whether you need more time to pay something off or you’re just looking to earn rewards for big items, these are the best credit cards to use.

Best credit cards for large purchases

CNET’S PICK
8/10
CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
Earn $250 Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
Annual Fee
$0 intro annual fee for the first year, then $95.
Rewards Rate
1% – 6% 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%); 6% Cash Back on select U.S. streaming subscriptions; 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more; 3% Cash Back at U.S. gas stations; 1% Cash Back on other purchases
Rec. Credit Recommended Credit: A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
670 – 850 Good – Excellent
APR
19.24% – 29.99% Variable

American Express is a well-known credit option for big-ticket items. The Blue Cash Preferred® Card from American Express* offers the best of all worlds: a potentially high credit limit for big buys, 0% introductory APR on purchases and balance transfers for 12 months from the date of account opening (19.24% to 29.99% variable APR thereafter) and the chance to earn cash back.

This card is quite generous with cash back, though the categories with the highest rewards don’t usually match up with large purchases. Still, you can enjoy multiple uses with this card by earning a whopping 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 3% on transit and U.S. gas stations, and 1% on other purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.

For more details, check out our full review of the Blue Cash Preferred Card from American Express.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Intro Balance Transfer APR
0% on balance transfers for 12 months
Intro Purchase APR
0% on purchases for 12 months
Regular APR
19.24% – 29.99% Variable
Balance Transfer Fee
Either $5 or 3% of the amount of each transfer, whichever is greater.
6%
6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
6%
6% Cash Back on select U.S. streaming subscriptions
3%
3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more
3%
3% Cash Back at U.S. gas stations
1%
1% Cash Back on other purchases
Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

American Express is a well-known credit option for big-ticket items. The Blue Cash Preferred® Card from American Express* offers the best of all worlds: a potentially high credit limit for big buys, 0% introductory APR on purchases and balance transfers for 12 months from the date of account opening (19.24% to 29.99% variable APR thereafter) and the chance to earn cash back.

This card is quite generous with cash back, though the categories with the highest rewards don’t usually match up with large purchases. Still, you can enjoy multiple uses with this card by earning a whopping 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 3% on transit and U.S. gas stations, and 1% on other purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.

For more details, check out our full review of the Blue Cash Preferred Card from American Express.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Intro Balance Transfer APR
0% on balance transfers for 12 months
Intro Purchase APR
0% on purchases for 12 months
Regular APR
19.24% – 29.99% Variable
Balance Transfer Fee
Either $5 or 3% of the amount of each transfer, whichever is greater.
6%
6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
6%
6% Cash Back on select U.S. streaming subscriptions
3%
3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more
3%
3% Cash Back at U.S. gas stations
1%
1% Cash Back on other purchases
Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more
9.5/10
CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
Get a $100 Amazon Gift Card Get a $100 Amazon Gift Card instantly upon approval exclusively for Prime members
Annual Fee
$0
Rewards Rate
1% – 5% Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership; Earn unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare); Earn unlimited 1% back on all other purchases
Rec. Credit Recommended Credit: A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
670 – 850 Good – Excellent
APR
19.49% – 27.49% Variable

Whether you’re in the market for a Fire TV, or doing some holiday shopping, Amazon’s Prime Visa card offers special promotions and financing options. You can earn a $100 Amazon gift card instantly upon approval.

While rewards can offer you a bit back on each dollar you spend, you can also use the Prime Visa card to finance a large purchase over $50, with a 0% intro APR offer (19.49% to 27.49% variable APR thereafter) for six to 12 months. You can’t earn rewards on purchases you opt to finance, however, and the 12-month financing period applies to purchases over $250.

Check out our full Prime Visa review to learn more.

Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
19.49% – 27.49% Variable
Balance Transfer Fee
Either $5 or 4% of the amount of each transfer, whichever is greater.
5%
Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership
2%
Earn unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare)
1%
Earn unlimited 1% back on all other purchases

Whether you’re in the market for a Fire TV, or doing some holiday shopping, Amazon’s Prime Visa card offers special promotions and financing options. You can earn a $100 Amazon gift card instantly upon approval.

While rewards can offer you a bit back on each dollar you spend, you can also use the Prime Visa card to finance a large purchase over $50, with a 0% intro APR offer (19.49% to 27.49% variable APR thereafter) for six to 12 months. You can’t earn rewards on purchases you opt to finance, however, and the 12-month financing period applies to purchases over $250.

Check out our full Prime Visa review to learn more.

Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
19.49% – 27.49% Variable
Balance Transfer Fee
Either $5 or 4% of the amount of each transfer, whichever is greater.
5%
Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership
2%
Earn unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare)
1%
Earn unlimited 1% back on all other purchases
Best high-limit card for limited credit

Petal® 2 “Cash Back, No Fees” Visa® Credit Card

9/10
CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Petal® 2
Annual Fee
$0
Rewards Rate
1% – 1.5% Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.; 1% cash back on eligible purchases right away.
Rec. Credit Recommended Credit: A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
No Credit History
APR
18.24% – 32.24% (Variable)

It isn’t easy to find a credit card with a limit high enough for a big-ticket purchase if you have only fair credit, but the Petal® 2 Visa® Credit Card (issued by WebBank) fits the bill with a credit limit of up to $10,000, based on creditworthiness. If the Petal 2 Visa Credit Card can cover your large purchase, you’ll be able to build your credit as you go. Meanwhile, you can enjoy 1% cash back on your eligible large purchase, and even more if you spend at select merchants.

As long as you make payments on time, you may be eligible for a credit limit increase, potentially boosting your credit score. In another effort to motivate your credit-building, you can earn an additional 0.5% cash back after you make 12 monthly on-time payments on eligible purchases. Alternatively, check out some of our other picks for fair or average credit.

Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
18.24% – 32.24% (Variable)
Balance Transfer Fee
N/A
1.5%
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
1%
1% cash back on eligible purchases right away.

It isn’t easy to find a credit card with a limit high enough for a big-ticket purchase if you have only fair credit, but the Petal® 2 Visa® Credit Card (issued by WebBank) fits the bill with a credit limit of up to $10,000, based on creditworthiness. If the Petal 2 Visa Credit Card can cover your large purchase, you’ll be able to build your credit as you go. Meanwhile, you can enjoy 1% cash back on your eligible large purchase, and even more if you spend at select merchants.

As long as you make payments on time, you may be eligible for a credit limit increase, potentially boosting your credit score. In another effort to motivate your credit-building, you can earn an additional 0.5% cash back after you make 12 monthly on-time payments on eligible purchases. Alternatively, check out some of our other picks for fair or average credit.

Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
18.24% – 32.24% (Variable)
Balance Transfer Fee
N/A
1.5%
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
1%
1% cash back on eligible purchases right away.
9/10
CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
60,000 bonus points Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.
Annual Fee
$95
Rewards Rate
1x – 5x 5x on travel purchased through Chase Travel℠.; 3x on dining, select streaming services and online groceries.; 2x on all other travel purchases.; 1x on all other purchases.
Rec. Credit Recommended Credit: A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
670 – 850 Good – Excellent
APR
21.49% – 28.49% Variable

The Chase Sapphire Preferred® Card doesn’t offer the option of low- or interest-free financing, but it’s great for travel rewards if you will be making a big purchase. The 60,000-point welcome bonus (an $600 value in cash back) could be redeemed for your next trip or vacation. You must spend at least $4,000 within the first three months of card approval to collect these points, making it an easy choice if you already plan to make a large purchase or to travel. You can also collect enhanced rewards points on travel through Chase Ultimate Rewards, dining, online grocery purchases and select streaming services, as well as a standard 1-to-1 point per dollar ratio on any other purchases.

To stretch the value of your points, book your trips through the Chase Ultimate Rewards® portal. There, your points are worth 25% more, making your welcome bonus worth $750. If you purchase a hotel stay through Chase Ultimate Rewards®, you’ll also earn up to a $50 statement credit per year. And if that’s not enough, you’ll also get an annual gift of 10% of your past year’s expenditure in the form of points. That means if you spend $25,000 on purchases, you’ll earn 2,500 bonus points. All this could add up to a nice vacation.

Check out more details in our full review of the Chase Sapphire Preferred Card.

Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
21.49% – 28.49% Variable
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
5x
5x on travel purchased through Chase Travel℠.
3x
3x on dining, select streaming services and online groceries.
2x
2x on all other travel purchases.
1x
1x on all other purchases.

The Chase Sapphire Preferred® Card doesn’t offer the option of low- or interest-free financing, but it’s great for travel rewards if you will be making a big purchase. The 60,000-point welcome bonus (an $600 value in cash back) could be redeemed for your next trip or vacation. You must spend at least $4,000 within the first three months of card approval to collect these points, making it an easy choice if you already plan to make a large purchase or to travel. You can also collect enhanced rewards points on travel through Chase Ultimate Rewards, dining, online grocery purchases and select streaming services, as well as a standard 1-to-1 point per dollar ratio on any other purchases.

To stretch the value of your points, book your trips through the Chase Ultimate Rewards® portal. There, your points are worth 25% more, making your welcome bonus worth $750. If you purchase a hotel stay through Chase Ultimate Rewards®, you’ll also earn up to a $50 statement credit per year. And if that’s not enough, you’ll also get an annual gift of 10% of your past year’s expenditure in the form of points. That means if you spend $25,000 on purchases, you’ll earn 2,500 bonus points. All this could add up to a nice vacation.

Check out more details in our full review of the Chase Sapphire Preferred Card.

Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
21.49% – 28.49% Variable
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
5x
5x on travel purchased through Chase Travel℠.
3x
3x on dining, select streaming services and online groceries.
2x
2x on all other travel purchases.
1x
1x on all other purchases.
Best credit card for an extended payment period

U.S. Bank Visa® Platinum Card

8.75/10
CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
U.S. Bank Visa® Platinum Card
Annual Fee
$0
Rewards Rate
N/A This card doesn’t offer cash back, miles, or points
Rec. Credit Recommended Credit: A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
670 – 850 Good – Excellent
APR
18.74% – 29.74% (Variable)

If you need to stretch out payments on a big purchase, consider this card. The U.S. Bank Visa® Platinum Card gives you 21 billing cycles of 0% introductory APR on purchases. After the introductory period, the APR is 18.74% to 29.74% variable. This offer could save you hundreds of dollars in interest and finance charges, as long as you consistently meet the minimum payment every month and pay the balance in full before the 21 billing cycles end. This card is a top pick on our best 0% introductory APR credit cards list.

For more information, see our full review of the U.S. Bank Visa Platinum Card.

Intro Balance Transfer APR
0% intro APR for 21 billing cycles on balance transfers
Intro Purchase APR
0% intro APR for 21 billing cycles on purchases
Regular APR
18.74% – 29.74% (Variable)
Balance Transfer Fee
Either 3% of the amount of each transfer or $5 minimum, whichever is greater
N/A

If you need to stretch out payments on a big purchase, consider this card. The U.S. Bank Visa® Platinum Card gives you 21 billing cycles of 0% introductory APR on purchases. After the introductory period, the APR is 18.74% to 29.74% variable. This offer could save you hundreds of dollars in interest and finance charges, as long as you consistently meet the minimum payment every month and pay the balance in full before the 21 billing cycles end. This card is a top pick on our best 0% introductory APR credit cards list.

For more information, see our full review of the U.S. Bank Visa Platinum Card.

Intro Balance Transfer APR
0% intro APR for 21 billing cycles on balance transfers
Intro Purchase APR
0% intro APR for 21 billing cycles on purchases
Regular APR
18.74% – 29.74% (Variable)
Balance Transfer Fee
Either 3% of the amount of each transfer or $5 minimum, whichever is greater
N/A
Best for a long purchase APR offer

BankAmericard® credit card

8.75/10
CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
BankAmericard® credit card
Annual Fee
$0
Rewards Rate
N/A This card doesn’t offer cash back, miles, or points
Rec. Credit Recommended Credit: A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
670 – 850 Good – Excellent
APR
16.24% – 26.24% Variable APR on purchases and balance transfers

The BankAmericard® credit card* offers cardholders a good opportunity to finance a large purchase or transfer a balance from another card and avoid interest charges on both. Cardholders will have 18 billing cycles to pay down a new purchase or a transferred balance at 0% introductory APR (then 16.24% to 26.24% variable; balance transfers must be completed within 60 days of account opening).

While there aren’t any rewards, 18 billing cycles – about 18 months – is still a generous amount of time to pay down a new, large purchase. If you have a trip coming up or a home improvement project, consider using the BankAmericard to pay for it.

For more details, see our full review of the BankAmericard credit card.

Intro Balance Transfer APR
0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A fee of 3% for 60 days from account opening, then 4% will apply.
Intro Purchase APR
0% Intro APR for 18 billing cycles for purchases
Regular APR
16.24% – 26.24% Variable APR on purchases and balance transfers
Balance Transfer Fee
3% for 60 days from account opening, then 4%
N/A

The BankAmericard® credit card* offers cardholders a good opportunity to finance a large purchase or transfer a balance from another card and avoid interest charges on both. Cardholders will have 18 billing cycles to pay down a new purchase or a transferred balance at 0% introductory APR (then 16.24% to 26.24% variable; balance transfers must be completed within 60 days of account opening).

While there aren’t any rewards, 18 billing cycles – about 18 months – is still a generous amount of time to pay down a new, large purchase. If you have a trip coming up or a home improvement project, consider using the BankAmericard to pay for it.

For more details, see our full review of the BankAmericard credit card.

Intro Balance Transfer APR
0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A fee of 3% for 60 days from account opening, then 4% will apply.
Intro Purchase APR
0% Intro APR for 18 billing cycles for purchases
Regular APR
16.24% – 26.24% Variable APR on purchases and balance transfers
Balance Transfer Fee
3% for 60 days from account opening, then 4%
N/A
7.5/10
CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
60,000 Membership Rewards® Points Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
Annual Fee
$250
Rewards Rate
3x – 4x Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S.; Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).; Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
Rec. Credit Recommended Credit: A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
670 – 850 Good – Excellent
APR
See Pay Over Time APR

Because with American Express cards you are expected to pay the balance in full each month (though you can use the Pay Over Time feature on eligible purchases), there is no preset spending limit. No preset spending limit means your spending limit is flexible. Unlike a traditional card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment and credit history. If you’re making a large purchase and afraid it won’t fit on one card, the American Express® Gold Card* may be a good choice. You can also earn American Express Membership Rewards® Points on your purchases, and a large purchase could net you the welcome offer at one fell swoop. Do note that there’s a $250 annual fee to keep this account open.

For more information, check out our full review of the American Express Gold Card.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
See Pay Over Time APR
Balance Transfer Fee
N/A
4x
Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S.
4x
Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
3x
Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

Because with American Express cards you are expected to pay the balance in full each month (though you can use the Pay Over Time feature on eligible purchases), there is no preset spending limit. No preset spending limit means your spending limit is flexible. Unlike a traditional card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment and credit history. If you’re making a large purchase and afraid it won’t fit on one card, the American Express® Gold Card* may be a good choice. You can also earn American Express Membership Rewards® Points on your purchases, and a large purchase could net you the welcome offer at one fell swoop. Do note that there’s a $250 annual fee to keep this account open.

For more information, check out our full review of the American Express Gold Card.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
See Pay Over Time APR
Balance Transfer Fee
N/A
4x
Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S.
4x
Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
3x
Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

Pros

  • May earn rewards on a large, planned purchase

  • May avoid interest charges with a 0% introductory APR

  • Gain shopping protections like purchase protection and extended warranty

Cons

  • Credit cards could lead to overspending, particularly when charging larger purchases

  • If you don’t plan for the purchase, it could lead to expensive credit card debt

Credit cards, personal loans and installment plans. What’s the difference?

The biggest factors to determine the best form of financing will be the intent and size of your purchase, interest rates and the monthly payment you’re comfortable with.

Credit cards typically have higher interest rates than personal loans, but may offer 0% introductory APR periods for up to 21 months. Thus credit cards can be great for small- and medium-sized expenses like a minor home improvement project or a new appliance.

They’re good to have on standby in the event of an unexpected emergency expense because you don’t pay any interest while the card is unused. Credit cards are also better for recurring use, as they give you access to revolving credit.

Personal loans are typically better for one-time, large expenses that will take far longer to pay off because they often have lower interest rates and may last for years. They’re also preferable in a situation where you might need cash instead of a line of credit, though once a loan is paid off, it’s gone for good. Personal loans and revolving credit from credit cards are also treated differently on your credit report.

Installment plans are another route to take when financing a large purchase. However, it’s important to read the terms of any plans before agreeing. Some of them charge retroactive interest if you aren’t able to pay them off in time, which means you’ll be charged all of the interest at once from the date of purchase.

Installment plans can help avoid interest charges, but they have more risk than a credit card, seeing as how most credit cards won’t charge retroactively if you don’t pay down a balance in time. Some store cards may charge retroactive interest if the deferred interest isn’t paid in full, so always check the terms.

How to choose the right credit card for your expensive purchase

Credit cards are tools. Certain credit cards, like 0% intro APR cards, are better for financing purchases, while others, like rewards cards, are better for earning a higher return on your spending. When using a credit card for a big upcoming expense, make sure the credit card works for you rather than the other way around.

For example, financing a purchase with a credit card without an introductory APR offer -- like the Chase Sapphire Preferred Card -- could lead to hefty interest charges that are difficult to get out from underneath.

Here are some other factors to consider when choosing the best credit card:

Annual fees

If the card charges an annual fee, check to see if it fits into your budget. Weigh the cost of the card against the perks that it offers. If you can get monetary value from the card benefits, check that against the annual fee to see how much is covered and what’s left over.

Rewards

Choosing a credit card that provides rewards for the things you spend the most on will guarantee you’re getting value from the card. If you choose a credit card that earns rewards for categories you don’t shop often, you might find yourself overspending for the sake of earning rewards, an act that could quickly land you in debt. 

Instead, finding a card that matches your spending habits will provide the best return. And, of course, you’ll want the card to provide a good rewards rate for your purchases.

I like to aim for 1.5% to 2% back on everything at a minimum, with my highest spending categories earning 3% to 5%,” credit expert Daniel Braun said. “Also, using credit cards that earn a flexible points currency from a bank allows me to get more value from those rewards by redeeming for travel instead of cash back.”

Welcome offer

A welcome offer or welcome bonus can add considerable value to your card. Using a credit card for a large, planned purchase can help you achieve a new credit card’s welcome bonus. Just make sure you don’t overspend strictly to reach a welcome bonus’s spending threshold.

APR

If you’re looking to finance a large purchase, your best bet will be to choose a credit card that has an introductory 0% purchase APR. If that’s the case, check to see if the promotional period is long enough for you to pay off the purchase before the card’s standard variable rate kicks in. Divide the cost of the purchase by the number of months in the introductory period to find out how much you’ll need to allocate monthly toward the balance to pay it off in time. 

Once that period ends, remember to treat your credit card like a debit card. That means paying off the purchases you make right away to avoid interest charges and mounting credit card debt. As long as you pay off all charges on your credit card before the due date, the standard APR for your credit card won’t matter.

Other card perks

Credit card perks vary by card but may be helpful if you’re making a large purchase. Some credit cards offer better that help insure your purchases, which could be especially helpful if you’re buying a big-ticket item. Others include purchase protection which covers your new purchase against damage or theft for up to 120 days and extended warranty protection which extends a manufacturer’s warranty by a year or more.

How to get the most from your credit card

If you’re making an expensive purchase, make sure the credit card you’re using either earns rewards for the purchase or ensures you can pay down your balance within the card’s introductory APR timeframe.

If you can earn the card’s welcome bonus with the large purchase, then you’ll be even better off. But again, avoid overspending simply to reach the bonus. Otherwise, any extra spending could eat into the value you’d get from the bonus.

Alternative ways to fund a large purchase

If you’re hesitant to charge a large purchase to a credit card, you could consider Buy Now, Pay Later plans, Amazon Layaway, setting up a sinking fund or a personal loan. Like credit cards, all of these options have some benefits and drawbacks.

Most BNPL plans break down your payment into a set of four installments spread over six to eight weeks. Some charge interest, others don’t. Others may charge retroactive interest if you miss a payment or don’t pay off the loan in time. You might consider a BNPL plan if you’re confident you can pay off the installment plan in time and want to lock in a sale price, but you’ll miss out on rewards and building your credit. BNPL plans can also lead to debt if you’re not careful.

Amazon Layaway is less risky than BNPL and might make sense if you want to fund a purchase now, but don’t need the item right away. You can use this option to finance 20% of a purchase right away and make installment payments over eight weeks for the remaining cost. If you miss a payment or can no longer afford to keep making payments, you’ll have an opportunity to catch up or Amazon will refund you the money you’ve paid so far. If you complete all five installment payments, Amazon will then ship your item to you.

You can also avoid debt altogether by saving up for a big purchase -- and earning some extra interest along the way. You can open a sinking fund, which is a dedicated savings account, to help separate your big purchase from your checking account or other savings goal. Experts recommend using a high-yield savings account for your sinking fund to earn the best return on your savings. This process can take more time and isn’t as instantaneous as other options, but it can also keep you out of debt.

If you need to make a large emergency purchase, like paying for a new car or expensive home repair, and need to turn to financing it, a personal loan will offer a much lower interest rate than a credit card. It can also give you a longer timeframe to pay off your balance. It will mean committing to a debt payment for years, but your on-time payments will help build your credit.

Another way to make a large purchase is to build a financial safety net called an emergency fund. That way if something unexpected comes up, you’ll have the cash on hand to cover it.

“I like to have at least three to six months worth of cash in a high-yield savings account so that I’m much less likely to need debt for an emergency,” Braun said.

How to apply for a credit card

Follow these steps to apply for a rewards credit card.

  1. Choose a card with rewards that align with your budget and a sufficient introductory APR.
  2. Follow the appropriate link above to be taken to the credit card issuer’s secure site.
  3. Fill out your financial and personal information, including your name, address, date of birth, Social Security number, income and monthly rent or mortgage payment.
  4. If approved, use the card responsibly and remember to always pay your bill in full and on time.

FAQs

According to the Federal Reserve, the average credit card interest rate these days is 22.77%. Financing a large purchase at such a high interest rate could be costly. Unless you can take advantage of a low- or no-interest introductory credit card offer and can commit to paying off your balance on time, it may be cheaper to look for financing alternatives such as a personal loan or drawing on your savings.

To maximize what you can earn for large purchases, choose a rewards credit card that offers points that can be redeemed for merchandise, travel or cash. Stay informed on which credit card categories offer bonus earnings. The way you redeem your points could also make a big difference. You may be able to redeem accrued rewards for bonus points when you make redemptions at a specific website or merchant or use them for travel, stretching your rewards even further.

American Express cards typically offer high credit limits, making it possible to make larger purchases. If you’re not sure of your spending limit, contact your card issuer for more information. You may also be able to request a credit limit increase if you foresee the need to make a large purchase in the near future and your current credit limit isn’t enough.

You should only open a new account to make a large purchase if you have a plan to pay off your purchase in a reasonable timeframe. You should avoid opening a new credit card if you are expecting to apply for a mortgage or other large loan in the upcoming months because it could impact your debt-to-income ratio and add a hard pull to your credit reports.

Other credit cards we researched

For rates and fees of the Blue Cash Preferred Card from American Express, click here

For rates and fees of the American Express Gold Card, click here

*All information about the BankAmericard credit card, Blue Cash Preferred Card from American Express, and American Express Gold Card has been collected independently by CNET and has not been reviewed by the issuer.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

Cynthia Paez Bowman is a finance, real estate and international business journalist. Besides Bankrate.com, her work has been featured in Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and SimpleDollar.com. She owns and operates a small digital marketing and public relations firm that works with select startups and women-owned businesses to provide growth and visibility. Cynthia splits her time between Los Angeles, CA and San Sebastian, Spain. She travels to Africa and the Middle East regularly to consult with women's NGOs about small business development.
Evan Zimmer has been writing about finance for years. After graduating with a journalism degree from SUNY Oswego, he wrote credit card content for Credit Card Insider (now Money Tips) before moving to ZDNET Finance to cover credit card, banking and blockchain news. He currently works with CNET Money to bring readers the most accurate and up-to-date financial information. Otherwise, you can find him reading, rock climbing, snowboarding and enjoying the outdoors.