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The information related to The Home Depot Consumer Credit Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.
The Home Depot Consumer Credit Card provides decent financing options for people who absolutely need it. However, the lack of a good rewards program makes this card hard to recommend for anyone that is diligent about fully paying off their credit card bill month-to-month.
- Benefits & Features
- How Does The Home Depot Consumer Credit Card Compare to Other Options?
Review: Our Thoughts On The Home Depot Consumer Credit Card
The Home Depot Consumer Credit Card can be fantastic for those people who frequent the store and need a little bit of breathing room to pay off big purchases. The biggest downside to this card is that it doesn't offer any ongoing cash back rewards, like you might find on other credit cards.
While you can use The Home Depot Consumer Credit Card to finance purchases, we urge readers to consider whether they should actually use them this way. Even with the special financing, the interest charges can mount up and prove financially straining over time. You should only finance big purchases that you consider to be an investment. For example, if you need to take out credit to pay for a remodeling that will increase the resale value of your home, it may be worthwhile. However, avoid the temptation to simply finance things that are of no long-term value, like a new power tool or electric saw. Ideally, those things should only be purchased once you have the capital to pay off your bill immediately at the end of the month.
The Home Depot Consumer Credit Card Benefits & Features
The primary benefit of applying for The Home Depot Consumer Credit Card is the ability to finance your purchases at the store. Whether you're working on small repairs around the house or a massive remodeling, this card allows you to buy materials with special offers that reduce the amount of interest you pay. Unlike other store cards, The Home Depot Consumer Credit Card does not offer cash back rewards.
The information related to the The Home Depot Consumer Credit Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.
How Does The Home Depot Consumer Credit Card Compare to Other Options?
Whenever you consider signing up for any credit card, you should take a moment to consider how it stacks up against your other options. Shopping around and comparing offers will help to find the best deal for you.
The Home Depot Consumer Credit Card vs Project Loan
If you're getting ready for a big home remodeling project and wish to finance part of it, we recommend applying for the Home Depot Project Loan Credit Card. Occasional Home Depot customers will do better with The Home Depot Consumer Credit Card option instead. The two credit cards are designed for the two scenarios laid out above, and the benefits of each are organized to account for that.
- The Home Depot Consumer Credit Card is better for customers who occasionally shop at the store, but have no big upcoming projects.
- The Project Loan Card is best for those who need funds now for a big remodelling project, and wish to finance their purchases at a low fixed APR.
The Home Depot Consumer Credit Card vs Lowes Credit Card
The Lowes credit card is generally much better than The Home Depot Consumer Credit Card in all respects. First, the card has a rewards program—offering 5% off everyday purchases. It also runs special promotions throughout the year that can provide cardholders even better savings. You can also get special zero percent deferred interest financing on purchases, so long as you pay it off in full within six months. If you have no preference between shopping at Lowes and Home Depot, we recommend getting a credit card with the former.
- 6-month financing on purchases or orders of $299 or more. No interest if paid in full within six months.
- 5% off every day.
- Special financing available on any project $2,000 or more.
The Home Depot Consumer Credit Card vs Discover it® Cash Back
If you're after a new credit card, consider the Discover it® Cash Back. The card offers 5% cash back in rotating categories each quarter up to the first $1,500 spent OR up to the quarterly maximum (activation required). Below, we've included the 5% rotating bonus calendar for 2020.
|Grocery stores, Walgreens & CVS||Gas stations, Uber, Lyft & wholesale clubs||Restaurants & PayPal||Amazon.com, Target & Walmart.com|
In terms of financing, the Discover it® Cash Back provides 0% introductory APR for 14 months on purchases and balance transfers (then a 13.49% - 24.49% Variable APR applies). That can be great if you are looking to finance a project, and all you need is those 14 months to pay everything off in full.
- Earn 1% cash back on all other purchases.
- 0% Intro APR for 14 months on purchases and balance transfers (then a 13.49% - 24.49% Variable APR applies).