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Make Everyday Home Improvements with The Home Depot Consumer Credit Card. • No annual fees. • Special promotions offered during the year. • Hassle-free returns within 365 days of purchase‡. For questions about your Consumer Credit Card account: 1-800-747-3787. ‡Refer to homedepot.ca/returns for Terms and Conditions.
There are no annual membership or renewal fees and the retailer does not charge any plan administration fees. Examples of borrowing costs at the standard Credit Rate of 21.50% per annum (assuming a Regular Financing Plan balance owing during a 30-day month covered by the Account Statement and no other credit plans, fees, additional payments or other charges).
- It offers deferred interest. The Home Depot Consumer Credit Card can help you finance a big home project; in fact, that's its primary selling point. It offers deferred interest on purchases of $299 or more.
- You won't want to carry a balance. Even if you don't take advantage of the deferred interest offer, you'll want to avoid carrying a balance from month to month.
- Cardholders enjoy a longer return period and exclusive offers. 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.
- Home Depot offers a separate card for bigger projects. Home Depot also offers the Home Depot Project Loan Card, which allows cardholders to borrow up to $55,000 for big improvement projects.
- Is The Home Depot® Credit Card Worth It?
- What You Need to Do to Make The Home Depot® Credit Card Worthwhile
- What I Like About The Home Depot Credit Card
- What I Don't Like About The Home Depot Credit Card
- Other Things to Consider About The Home Depot® Credit Card
- Home Depot® Credit Card Review Methodology
The Home Depot® Credit Card is worth it for people who want to finance big-ticket projects from Home Depot while building credit, all with a $0 annual fee. Instead of offering ongoing rewards like most store cards, the Home Depot Credit Card gives an intro APR of 0% for 12 - 24 monthson eligible purchases. That might seem appealing, but there’s som...
To make the Home Depot® Credit Card worthwhile, you should pay off any purchases you finance using the introductory APR by the time the promotional period ends. That will prevent you from owing interest back to the day that you made them. You should also pay any non-financed purchases in full each month, as accruing interest at the 29.99%APR is exp...
$0 Annual Fee
The best part of the Home Depot® Credit Cardis something that it lacks: an annual fee. It’s not uncommon for a store-affiliated credit card not to charge an annual fee, even if it will approve applicants who have limited credit, but it’s definitely a plus nonetheless.
1-Year Hassle-Free Returns
The Home Depot® Credit Cardgives you a full 365 days to return an item for a full refund. That’s pretty sweet.
Credit-Building Capabilities
Approvability is a major hurdle that anyone with limited credit must climb over. Placing a refundable deposit on a secured credit card is always an option, but cards that will approve relatively unproven consumers at no cost are even better. The Home Depot® Credit Cardis one such option, and if you simply keep it open and in good standing, you don’t even need to make purchases to improve your standing. It could therefore serve as a bridge to better credit and a better card, which has to be co...
You Won’t Be Rewarded
With all of its big-ticket items, Home Depot is a place where you can rack up some serious credit-card rewards. You’ll have to use unaffiliated plastic for that, however, because the Home Depot® Credit Carddoes not offer rewards: no initial bonus, no per-dollar earning rate, nothing.
Regular APR Won’t Do You Any Favors
If you’re approved for the Home Depot® Credit Card, you will be assigned a regular APR between 29.99%. The rate you’ll get is a function of creditworthiness, with the lowest rate likely being limited to people with excellent credit and the highest rate being reserved for those with limited credit. For context, the average APR for all new credit-card offers is 23.15%, the average for fair credit is 27.19% and the average for store credit cards is 32.94%, according to WalletHub’s latest Credit...
Deferred-Interest Financing Poses Risks
Home Depot periodically offers 0% financing “deals” of varying lengths, often with a specific spending threshold attached. For example, the Home Depot® Credit Card’s base financing offer is 0% interest for six months on purchases of at least $299. Longer financing offers also are available from time to time. However, there is a very important caveat to this deal. It’s known as deferred interest, which means interest will retroactively apply to the entire amount of the purchase that you financ...
The Home Depot® Credit Card’s terms aren’t too complex, as it doesn’t bring too much to the table. A thorough review of this offer must therefore extend beyond the limited features it provides to i...Your credit score should ultimately be a big determinant of whether it makes sense to apply for this card. After all, you can likely do a lot better in terms of either rewards or financing with a d...This Home Depot® Credit Card review is based on WalletHub’s proprietary 100-point credit card rating system. By using a consistent methodology to evaluate the Home Depot® Credit Cardand all other cards, WalletHub’s credit card experts make it easy for people to compare their options and find the best credit cards for their needs. The WalletHub rati...
Mar 25, 2024 · The Home Depot® Credit Card annual fee is $0. Home Depot® Credit Card’s $0 annual fee is lower than the average annual fee among new credit card offers right now. It’s not the only fee you need to worry about with the Home Depot® Credit Card, though. Home Depot® Credit Card Fees. Annual Fee: $0; Max Late Fee: $40
If not, interest will be charged at an Interest Rate of 21.5%^ per annum in accordance with the Consumer Cardholder Agreement. ˄ If your account was opened prior to March 15, 2020, interest will be charged at a Credit Rate of 23.25% per annum in accordance with your Consumer Cardholder Agreement.
People also ask
Does the Home Depot credit card charge an annual fee?
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Does the Home Depot store card have a 0% interest rate?
2 days ago · The Home Depot Credit Card is a $0 annual fee store credit card for people with fair credit or better. Because the Home Depot Credit Card does not offer regular rewards, its main benefits are a first-purchase discount and deferred interest financing promotions. More specifically, new cardholders can save $25 to $100 on their first purchase of $25+.
