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If you have specific questions about the accessibility of this site, or need assistance with using this site, contact us. California loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-78868. You may also be asked to provide additional identifying documentation that supports the information you provide in your application, such as a driver’s license. If Home Depot can’t make a credit decision right away, they will send you a letter by U.S. mail within 30 days to let you know how your application is going. If you pertain in person, you will usually get approved immediately, and your card will arrive within 14 days. The Home Depot Credit Card Deals are only sent to new accounts.
In the event the Home Depot can't provide an instant credit decision, you'll be notified within 30 days by U.S. mail to advise you of your application status. The Home Depot Project Loan gives cardholders an extremely large line of credit (up to $55,000), 6 months to make purchases, and up to 9.5 years to pay it all off. Just like The Home Depot Consumer Credit Card, you can enjoy six-month financing on purchases of $299 or more. Alternatively, you can finance purchases of $2,000 or more into 84 fixed monthly installments with a reduced APR of 7.99%.
Home Depot project loan review: A fixed rate for home improvement projects
If you choose to receive legal notices and statements electronically and then want a paper notice, call us at the number on the back of your card and we will mail it to you. I spend more than enough each time to where I can get the special promotions for 6 months or 12 months. I go there for all my hardware needs because they usually take care of me the way they should.
The Home Depot Consumer Credit Card can only be used on purchases at Home Depot. The card is issued by Citibank and offers different financing options. If you plan on making a large purchase, this card provides financing options based on the price of the purchase. Your path to an improved credit score is only a phone call away. But unlike Home Depots card, the Lowes® Advantage Card offers ongoing discounts on purchases.
What Are Types Of Home Depot Credit Cards
The Home Depot Consumer Credit Card, issued by Citi, is a store credit card exclusively for Home Depot purchases. Considering that this card offers an array of special financing offers, it can help you save money on interest if you need a few months to pay off your purchases. Editorial and user-generated content is not provided, reviewed or endorsed by any company. The Target Credit Card requires a credit score of 640 or over, meaning you will need a fair credit score or better to get it.
For the typical consumer, the Home Depot® Credit Card offers limited usefulness. That's frequently the case with store credit cards, but most of them at least earn rewards points or cash back. The Home Depot® Credit Card doesn't earn rewards points, cash back, or any other type of rewards on your purchases. This is a significant disadvantage compared to the best credit cards, and even compared to other store credit cards. A credit score of 640 or higher is needed for a Home Depot® Credit Card; this means that you need to have a fair credit score to get it.
Home Depot Consumer Credit Card: General Overview
The information related to Chase Freedom Flex has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product. As explained earlier, the financing you get from The Home Depot Consumer Credit Card is deferred interest. While that can help you avoid interest, it’s important to fully understand how deferred interest works. Lowe’s stores also typically have a few more square feet of space than Home Depot stores.
It offers no interest for six months on eligible purchases, and there's also an introductory discount offer. Outside of that, benefits are limited and don't measure up to other card offers. Learn more about the pros and cons of this Home Depot® Credit Card in our detailed review. Is a store card, meaning it can’t be used outside of Home Depot.
Home Depot® Credit Card Review
Cardholders will always earn 5% off on all eligible purchases made at Lowes stores with the Lowes® Advantage Card. A downside of the Home Depot project loan is that you can only make purchases with it during the first six months. Home Depot’s project loan is a credit line geared toward people who shop at Home Depot and want to finance home services and improvement projects.
With the project loan offering a fixed interest rate and a credit line between $1,000 and $55,000, it may be a good alternative to the Home Depot® Consumer Credit Card. It’s also worth mentioning that you cannot use a Home Depot credit card to purchase gift cards either as they are managed by third parties. Otherwise, you’ll need to get your gift cards by paying for them in cash, using your credit card , or even PayPal. A gift card is when you purchased a gift card from a Home Depot store in the denomination of your choice and paid for it in cash or using your credit card. With a store credit balance, you can use it to purchase other goods and products from a Home Depot store.
If interest-free financing of six months is the goal, there are consumer versions available from both Lowes and Home Depot . On AnnualCreditReport.com you are entitled to a free annual credit report from each of the three credit reporting agencies. The score ranges from with a score of 90 or above indicating an excellent payment record and a score of below 70 signaling a poor performance.
Because this Home Depot credit card doesn’t offer rewards, the only reason to use it is for its financing offers. Because this Home Depot® Credit Card doesn't offer rewards, the only reason to use it is for its financing offers. If you need to make a large purchase, one of the special financing offers available through each store credit card could help you save big on your home improvement or repair. Both store credit cards require good or better credit to qualify for these special offers, so you may want to check your credit score if you don’t know what yours is before you apply. After your comment I am planning more to only apply for the Citi double cash back. If aapproved I can build some relationship with citi bank and go for there store cards in a later time.
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