TOP 3 Benefits and Rewards of the Home Depot Credit Card
A project loan credit card with a credit limit of up to $55,000 is available from Home Depot if you’re organizing a significant home repair or construction project. This card features no annual fees, a six-month purchase period, and up to 84 months to pay off the entire sum.
The card features no fees and an introductory annual percentage rate (APR) of 7.42% (for a six-month return).
Instead of a credit card, think of it as a loan or line of credit. Waiting the entire 84 months to pay off the bill can dramatically increase the cost of your project, despite the fact that interest rates are significantly lower than those on consumer credit cards.
The Home Depot Project Loan Card is like a line of credit. It doesn’t offer any perks or rewards, but you can borrow up to $55,000 for home improvement and projects.
Rewards and benefits Home Depot Credit Card
The Home Depot consumer credit card offers 0% initial interest for six months on purchases over $299. As of February 2021, Home Depot will also offer consumers a variety of rewards, including including discounts and bank statements for certain purchases.
Specifically, Home Depot is offering a free stain and 5% credit on certain pergolas and gazebos, and up to $500 off and a 5% credit on select warehouses and garages. choose.
Where can someone get a Home Depot credit card?
Interested parties can apply for a Home Depot credit card on their website. Cards can also be requested at stores. The decision-making process for both is generally instantaneous, but it can take up to 10 days for you to receive your card.
What type of credit is required for a Home Depot credit card?
Requirements for the Home Depot card are not specified, but note that credit requirements for store cards are generally more lenient than for regular credit cards. As with most business credit cards, the required balance is usually pretty to good.
Where can the Home Depot credit card be used?
The Home Depot credit card, which is a private label card, can be used online or at Home Depot locations. Note that two Home Depot consumer credit cards cannot be used at other stores or retailers as it is not a general purpose credit card.
Home Depot Credit Card Alternatives
Unless you’re a home builder with discounts or brand loyalty benefits, many individuals may instead choose to shop at Lowe’s — one of Home Depot’s biggest competitors.
Lowe’s also offers a consumer-only business card, as well as a card for contractors. Lowe’s credit card, also known as Lowe’s Advantage Card, comes with an APR of 26.99% and an 84-month referral rate of 7.99% on purchases over $2,000.
