Table of Content
A secured credit card is a type of credit card that is backed by a cash deposit, which serves as collateral should you default on payments. Credit cards are a way of borrowing money for hopefully short periods of time. Although you can apply for a Home Depot card in stores, the easier way is to visit their website. Assuming you meet the credit requirements, Home Depot’s credit issuer, Citibank, will issue a card within 10 days.
Next, that 6-month “interest free” period isn’t really interest free. Home Depot will still charge the interest, but if you pay off your eligible purchases within the specified time period, you won’t pay the interest charges. If you’re even one day late, all the interest you didn’t pay during the grace period is added to your balance. To be fair, that’s how most no-interest agreements work with the majority issuers – not just Home Depot. And other Home Depot branded, co-branded or store products online, but you can also apply in person at any Home Depot store.
Home Depot Credit Card Benefits
Considering that there are no rewards perks for using either Home Depot credit card, you may want to look elsewhere to earn while you spend. A plain vanilla card is a basic credit card with no perks and few or no fees. The Home Depot’s credit card service system randomly selects from Equifax, Experian, and TransUnion for applicants’ financial information to be sent to. What Home Depot’s automated system will do is allow you to enter credit card information and then pass to credit bureaus for the checks to be completed.
If you don’t already have the card, you’ll be able to use the one-time discount of up to $100 off qualifying purchases. The Home Depot Consumer Credit Card is an in-house store credit card offered by the home improvement retailer. That means that you can use it only for purchases at your local The Home Depot store or through the retailer's app and website. If you’re considering a big home renovation project, a credit card may not be your best resource, or can be a tool to use in tandem with other methods.
How To Improve Your Chances Of Being Approved For A Home Depot Card
It’s especially helpful when you have some home improvement plans in the works. This card is a great asset for when you have a small renovation or even a larger project to undertake. Here’s what you need to know about the Home Depot credit cards, from their rewards to how you can benefit from having one of your own. They will charge you and not offer to help unless you are purchasing hundreds of dollars every week.
You can use the Home Depot eGift Card for the purchase of an energy management device, service or rebate at any of our retail stores, or over the phone with a customer service representative. Well, that is the basic information about Home Depot credit card, plus the steps to apply for this credit card accompanied with a reference number that you can do at /applynow. It is relatively easy if you stick to the aforementioned procedure. However, if you feel there is something you’d want to query, simply leave your comment. The Home Depot credit card is usable in both online retail site and in the physical store.
In-Person Application
Below, Select compares the Home Depot Consumer Credit Card and the Lowe's Advantage Card, so you can choose the best card for your next home improvement. Do not reapply immediately without knowing the exact reason for the application rejection with Home Depot. Always apply through the prequalification step to assess approval chances. There is a limit of 20 gallons of fuel per purchase per vehicle, and use is restricted to participating gas stations.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. You could be eligible for a 0% introductory APR on purchases and balance transfer for a period of 15 months from the date of account opening. After the intro period, a variable APR of 14.99%–23.74% would be applied. If you’re working on a project for your house or embracing the DIY spirit, then chances are that you call Home Depot as your second home.
Is The Home Depot Credit Card Hard To Get?
Frequent Home Depot shoppers might benefit from the fact that hassle-free returns are offered for one year with the card, which is four times longer than you'd normally get on Home Depot purchases. That could come in handy, especially on large purchases that you end up regretting later. Compare top credit cards side-by-side, complete with objective reviews from the Nerds. The scoring formula takes into account the type of card being reviewed and the card's rates, fees, rewards and other features.
The U.S. Bank Visa Platinum offers a 0% intro APR for the first 18 billing cycles on purchases and balance transfers, has no annual fee, and a regular variable APR of 18.24% – 28.24%. Unlike many 0% interest credit cards, the Home Depot Consumer Credit Card just defers your interest payment. So if you don’t pay the balance in full by the end of the promotional period, you’ll be charged interest at the standard variable rate going back to your original purchase date.
There are also other special offers that are available for limited periods. These include 12 months special financing on appliances and other house installations at certain prices. However, conditions still apply with regards to paying off your balance within the allotted time frame, else you have to deal with deferred interest. The last type of Home Depot offer doesn’t come from a credit card. It’s Home Depot’s Project Loan, which offers up to $55,000 with a fixed APR and payoff period that depends on your creditworthiness. Then, you have anywhere from 66 to 114 months to pay it off, with an APR from 7.42% to 19.96%.
Review the specific loan agreement to verify your annual percentage rate , as the APR you receive will be based on your creditworthiness. Offers $25 off purchases of $25 to $299, $50 purchases of $300 to $999, or $100 off purchases of $1,000 or more. You shouldn’t ignore the importance of this card due to this reason. It has many additional benefits that can easily grasp your attention. Check the other services offered by this card to know about its importance and to apply for it.
Not only will you begin paying a high APR of 17.99%–26.99%, you’ll also get hit with deferred interest charges starting from your purchase date. Higher checkout amounts are 1 reason The Home Depot offers solutions with affordable APRs. However, many rewards cards have 0% APR for up to 18 months which could be an attractive alternative, especially if you don’t need to spend tens of thousands of dollars . You can't use the Home Depot® Credit Card outside of Home Depot stores and the Home Depot website, because it's a store card. Regular credit cards are part of a card network – Mastercard, Visa, Discover, or American Express – so those cards can be used anywhere the card's network is accepted.
No comments:
Post a Comment