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Because the store will give you a minimum of 6 months on purchases over $299 to pay off the furnace without incurring interest charges, the card is perfect. There’s also no annual fee, payments as low as $25 and, according to the literature, you’ll receive special offers. Currently, the process for applying for any of the Home Depot credit cards is online, though it can be done in-store.
Yes, you can use your Home Depot® Credit Card to buy gift cards, along with anything else Home Depot sells in store. To apply for a Home Depot® Credit Card , you can fill out an application on the Home Depot website or in any Home Depot store . Get all of our latest home-related stories—from mortgage rates to refinance tips—directly to your inbox once a week. A recent Harvard study found spending on home improvements increased substantially more than expected in 2020, driven by DIY projects and a new flexible, remote-friendly workplace.
What Credit Bureau Does Home Depot Use? (all You Need to know)
The Home Depot Consumer Credit Card is also a standard retail card, so you can only use it for purchases you make in Home Depot stores or at homedepot.com. There’s no annual fee, and you can check to see if you prequalify online without impacting your credit score. In its consumer division, Home Depot offers two lines of credit – the consumer credit card and the home-project loan. The home-project loan is a line of credit specifically for a larger project and comes with a 7.99% interest rate and up to a $40,000 credit limit.

The Home Depot credit card can also be obtained in the web portal of Citi Bank. Read more about Select on CNBC and on NBC News, and click here to read our full advertiser disclosure. Check for credit score errors and disputes with the credit bureau. You can always evaluate this key factor by analyzing your existing debts against your current gross annual income. If this ratio is too high, work to lower it by increasing your income or repaying some of the debts in full.
Home Depot Credit Card vs. Lowe's Credit Card: Which card is the best for home improvements?
On completion of the 15 months, variable APR rates would be applied. The Home Depot credit card can entice consumers looking to make a major renovation. The retailer also offers various commercial cards for contractors.
When evaluating offers, please review the financial institution’s Terms and Conditions. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. Even if you don't take advantage of the deferred interest offer, you'll want to avoid carrying a balance from month to month. As with many store-branded credit cards, the ongoing interest rate can be quite high. The requirements for the Home Depot card are not laid out, but note, the credit requirements are generally more lenient for store cards versus regular credit cards. As with most store credit cards, the credit needed is generally fair to good.
Overview | Home Depot Credit Cards
At NextAdvisor we’re firm believers in transparency and editorial independence. Editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by our partners. Editorial content from NextAdvisor is separate from TIME editorial content and is created by a different team of writers and editors. At 18 he ran away and saw the world with a backpack and a credit card, discovering that the true value of any point or mile is the experience it facilitates. He remains most at home on a tractor, but has learned that opportunity is where he finds it and discomfort is more interesting than complacency.
This is the first time I get a credit card with free interest for 6 months and because is not paid in total by the 6 months the interest charges come back to your account to increase the balance. I want to advise people to not use this credit, if for some reason you can’t pay before the 6 months, they will make a lot of money from you. I will not use that credit card, I will not buy anything from Home Depot, from now on I will go to other store. If you are planning to renovate your home to make it look attractive and stylish, then you need to make a lot of efforts for it.
The Home Depot Card: What are the benefits?
If we have made an error or published misleading information, we will correct or clarify the article. If you see inaccuracies in our content, please report the mistake via this form. There may be certain periods during the year when Home Depot gives special discounts on specific goods to cardholders.
However, The Home Depot does not apply a penalty for paying off your loan early. Your first step on the application is to request your loan amount, typically the amount you have estimated it will cost to complete your home project. The Home Depot Project Loan allows for loans from $2,500 to $55,000.
This benefit is usually managed by credit card networks such as Visa, Mastercard, or American Express, and the Home Depot® Credit Card doesn’t belong to any of these networks. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. It will offer you a discount on your purchases on things over $299. It might be a great way to help you save money on your home improvements.

They lure you in when you purchase something and tell you you have 1 year of no interest. Then when the year is up they don’t notify you the balance is due. If you don’t catch it time they charge hundreds, and even thousands of dollars in interest back to the original purchase date. If you’re applying online, you’ll be redirected to a THD Loan/GreenSky application page.
You can enjoy 0% interest only if you manage to make your payment within the six-month period. Much like the Home Depot Consumer Credit Card, the Project Loan Card does not require any annual fees. On the other hand, it does not come with a rewards program either. Also take note that upon being approved for a Project Loan Card, you will have a six-month timeframe to purchase any products or installation services from Home Depot. Home Depot credit cards are store-issued cards that offer different financing options to customers of Home Depot.