TPG reader credit card question: Which credit cards should I use to buy household furnishings?

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As we all spend more time at home during the pandemic, some of us have decided that this is the perfect time to put all that HGTV inspiration to work.

For some, that may be a new paint job and for others it may mean new furniture. Regardless, these upgrades can be pricey. On the bright side, that means there's an opportunity to earn rewards on those purchases. Reader Drew S. asked a question along these lines:

So before you go sprucing up your home, let's take a look at some ways you can maximize these upgrades.

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Option 1: Open a new card to get a welcome bonus

Investing in new furniture is pricey, but if you charge it to a new card, you can jump-start the spending required to earn a welcome bonus on a premium rewards card. That's why you may want to consider opening a new credit card if you have large purchases in mind. That new couch could earn enough bonus rewards to pay for your next flight or hotel stay.

Of course, you should always take into consideration the long-term benefits of opening a new credit card. For instance, will you use the annual travel credits on the expensive Platinum Card? Or are you a more moderate traveler who may be better served by the Chase Sapphire Preferred Card? If you're not maximizing all of the perks that come with these premium credit cards, the annual fee may not be worth it to you.

Here's a look at some of our favorite premium rewards cards that offer generous welcome bonuses:

Related: How to complete a Chase business credit card application

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Option 2: Leverage what you already have

Whether or not you're over Chase's 5/24 rule, you don't want to add another card to your wallet, or you don't want to worry about reaching a minimum spending requirement over three months, don't worry. There are plenty of other great cards out there that can help you maximize your spending. And you may even have one or two of these in your wallet already.

Here's a look at the cards that offer a return of at least 2% — no minimum spending required:

*When paired with a Sapphire card like the Chase Sapphire Preferred or Chase Sapphire Reserve

As you can see, all of these cards offer a solid amount of points per dollar spent on nonbonus spending, like furniture. However, some cards offer more flexibility than others. For instance, you can convert the 1.5% cash back earned with the Chase Freedom Unlimited into 1.5x Ultimate Rewards when paired with another Sapphire card like the Chase Sapphire Preferred or Chase Sapphire Reserve. TPG values Ultimate Rewards points at 2 cents each, increasing your return on spending to 3%.

Related: 9 things to consider when choosing a card for large purchases

Bottom line

Before making any large purchases, always take some time to evaluate your wallet. If you have the room to expand your portfolio, a new credit card is definitely worth considering as the welcome bonus alone is much easier to achieve and could be well worth it in the long run. However, be sure to pick a premium rewards card that fits your long-term spending habits, not just your short-term purchasing needs.

This should be a good start in helping Drew narrow his options and figure out which card to use for his redecorating.

For rates and fees of the Amex Platinum Card, please click here.