Getting a “Home Depot Credit Card” is the best way to finance a big money home improvement project, there is a card for contractors and business ventures as well, although Home Depot Consumer Credit Card does not draw out the most favorable shopping rewards even as they give a zero dollar yearly charge.
The Home Depot Credit Card consumers are to know that this card is not a traditional credit card that comes with rewards that is why most of the users normally go for flat-rate, cash-back, or rewards card itself to enjoy the favors.
Here are the five things to know about Home Depot Consumer Credit.
1. It offers deferred (but not waived) interest
As a Home Depot Consumer Credit Card hold, you too can enjoy the primary benefit of financing a big home project; this card offers a six-month interest on purchases from $299 and above. It will be of your interest to use it wisely to get the most out of the card.
In details you should understand the difference between deferred interest and a true 0% APR offer before acquiring the card.
When you do not pay off all your balance as a “The Home Depot Consumer Credit Card” holder in months as mandated you will start facing an accruing interest from that day you made the purchase and that could cost you a whole lot as time goes on.
Well, my word of advice is you should opt for Chase Freedom Unlimited, which offers your rewards and benefits primarily for purchases. Because if you applied for Chase Freedom Unlimited and you are approved you have zero percent 0% introductory APR offer that lasts for up to 12-months or even more.
It also gives rewards of 1.5% if APR is 14.99% – 23.74% for every purchase.
I guess that is a better offer, right? This is pretty good compare to other options in the market.
>> You may also like: How Does the Home Depot Credit Card Work plus all the Rewards and Benefits
2. Don’t carry a balance on your Home Depot Credit Card
So to say, if you do not take advantage of differed interest given by this credit card, allowing your balance to roll over for months will be a costly mistake, because an accruing interest is normally very high ranging from 17.99% – 26.99%.
Be wise enough to make sure you don’t carry a balance on your home depot card to the next month.
3. New cardholders enjoy a modest discount
The Home Depot Consumer Credit Card new holders are offered $25 off on purchases from $25 – $299, $50 off for purchases from $300- $999, and $100 off for purchases from $1,000 or even more sometimes.
If you are not able to pay your balance with The Home Depot Credit Card as supposed you will be completely in a dismay.
For cards like Lowe’s Advantage Card give a discount of 5% off for purchases amounting to $299 and above for in-store purchases to the qualified holders or you can choose a similar deferred interest.
4. Cardholders enjoy a longer return period and exclusive offers
The Home Depot regular patronizers are offered a one-year non-stressful reward with the credit card, but when it comes to purchases you won’t be happy if you make bulky purchases.
Other offers may include as much 10% off on particular brand of goods for some period of time or 1-2 years financing rewards during special promos.
Learn more here: American Express Green Credit Card Complete Review
5. Home Depot offers a separate card for bigger projects
Home Depot Project Loan Card, is also offered by Home Depot which allows cardholders to borrow up to $55,000 to finance massive improving projects at a very low APR of 7.99%, which the cardholder is allowed to be payback in a period of up to 7-years.
We hope this help you make a better choice!