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Home Depot Consumer Credit Card

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If you frequently shop at The Home Depot, you might make good use of this no-annual-fee card, especially if you have a big purchase to make there and need some time to pay off the bill before interest kicks in.

Best for Home Depot Shoppers Who Want Interest-Free Financing

DIYers and seasoned contractors who frequent Home Depot might wonder if the Home Depot Consumer Credit Card is worth having. The home improvement retailer’s consumer credit card option has no annual fee, interest-free financing for six months (or longer during promotions) and an introductory discount offer. This card is ideal for Home Depot customers who can take advantage of the interest-free financing period on large purchases. But beyond that, its rewards and benefits are limited.

Pros

  • No annual fee
  • New cardholder discounts
  • Promotional financing
  • Extended time period for returns

Cons

  • No rewards
  • Can only use at The Home Depot
  • Deferred financing can lead to high interest charges if you don’t pay off the bill in time

Card Highlights

This card offers several other benefits that could be useful for everyday DIYers who want to build their credit and access occasional store discounts:

  • Six months of interest-free financing on purchases of $299 or more (must be paid in full within six months or interest will be charged going back to the original purchase date)
  • Up to 24 months of financing during special promotions, depending on the current promotion
  • Extended one-year return window, which is four times the standard length
  • Prequalify without impacting your credit score

The Home Depot Consumer Credit Card lacks rewards and perks offered by other cards, but it shines with its ability to defer interest payments on a larger purchase (known as interest-free financing). Depending on the current promotion, you can get up to 24 months of financing on your Home Depot purchases. However, this is a deferred interest offer, so you’ll be charged interest from the original purchase date if you don’t pay it off before the promotional period expires.

Sign-Up Bonus

For a limited time, the Home Depot Consumer Credit Card includes a small sign-up bonus savings offer of up to $100, depending on the purchase amount:

  • Save up to $100 on a qualifying purchase when you open a new card
  • Good for a single purchase within 30 days of when you open the card
  • Get $25 off a single receipt purchase between $25 to $299, $50 off a purchase between $300 to $999 or $100 off a purchase of $1,000 or more
  • May not be combined with other discounts

To unlock the highest bonus tier ($100), you'll need to spend over $1,000 on a single receipt purchase at The Home Depot within 30 days of opening the card. However, this discount cannot be combined with other discounts, and since you also won't earn any regular rewards for the purchase, it does slightly lessen the overall value of the sign-up bonus. Valid now through 1/24/24.

Card Rewards

The Home Depot Consumer Credit Card does not come with an ongoing rewards program. That means you won't earn any credit card rewards by making purchases, and there is no way to redeem any rewards. If you apply for the Home Depot Consumer Credit Card, it's best to limit your spending to in-store purchases only and allocate your everyday spending to another rewards credit card.

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Card Benefits and Perks

  • No annual fee
  • Six months of financing on all purchases of $299 or more
  • Up to 24 months of financing on other purchases, depending on the current promotional offer
  • One year to make returns

The perks tied to the Home Depot Consumer Credit Card are store specific. If you are a frequent Home Depot shopper, you might find value in being able to finance your purchases over time without interest. Just make sure to pay off your purchases in full before the end of the promotional period to avoid getting hit with deferred interest.

Perhaps most beneficial is the card’s extended return window, which allows cardholders to return items for up to one year instead of just 90 days.

Occasionally, The Home Depot will advertise special offers for its cardholders, such as a 5% statement credit and discounts on specific, seasonal purchases.

Drawbacks

  • No ongoing rewards program
  • Can only use the card at The Home Depot (in store or online)
  • Watch out for deferred interest

As previously stated, this card does not offer rewards for ongoing purchases. While you may benefit from 0% financing, the value is diluted by the lack of rewards or purchase protections common with other credit cards. The Home Depot Consumer Credit Card does offer deferred interest programs on larger purchases, but that also means you could be hit with high interest charges if you don’t pay off purchases within the allotted timeframe. If you rack up purchases over time, it could become harder to track your balances, which may lead to unexpected interest charges.

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Annual Fee

The Home Depot credit card does not have an annual fee. That means you won’t be charged extra yearly costs no matter your spending habits—even if you don’t use the card to make a purchase at all.

APR

The Home Depot Consumer Credit Card offers an introductory 0% APR period for six months on all purchases of at least $299—but this is not a true credit card 0% intro APR offer. If you don't pay your balance by the end of that six month period, you will be charged interest for that full six months and any period beyond that you carry a balance. It also offers financing on all purchases for varying amounts of time, depending on the current promotional offers. Outside of the promotional period, the regular APR is between 29.99% (Variable), depending on your creditworthiness.

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Recommended Credit Score

Home Depot Consumer Credit Card approval is based on your credit report and your ability to make monthly payments. Home Depot and our partner, Citi, do not disclose their minimum credit score requirements, but similar types of credit cards usually require at least fair credit (a credit score between 600 and 640). 

The card’s more lenient credit requirements make this a good card for building credit because it reports to all three credit bureaus. However, your credit score will determine your credit limit on the card, which could be as low as $300.

Is the Home Depot Credit Card Worth It?

The Home Depot Consumer Credit Card is not the most generous card on the market, but it may be worth having in certain situations. If you are a frequent Home Depot shopper, you might benefit from the ability to finance purchases with no interest, while building credit. DIYers planning to make a larger purchase can leverage its introductory discount offer for additional savings, though other credit cards have better sign-up bonuses.

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FAQs

  • The Home Depot Consumer Credit Card is managed and administered by Citi. That means you will pay and manage your card through Citi. You can also manage your account through your Home Depot online account if you sign in and link your accounts.

  • Yes, a Home Depot Consumer Credit Card can help you build credit. The card is issued by Citi, which will report your balance and usage information to the major credit bureaus. If you use your Home Depot Consumer Credit Card regularly and pay off your balance on time, you may see your credit improve. This also means that late or missing payments will negatively impact your credit score.

  • No, you cannot use the Home Depot Consumer Credit Card at other stores. Unlike some store credit cards issued by Visa or Mastercard that can be used at other stores, the Home Depot Consumer Credit Card is store specific and only eligible for in-store and online purchases.

  • Applicants for the Home Depot Consumer Credit Card are evaluated based on their overall financial picture. This may include your credit score, credit history, income and other financial information. The better your credit, the higher your approval odds and credit limit will be.

DM

Dan Miller

Dan Miller is a freelance writer and founder of PointsWithACrew.com, a site that helps families to travel for free and cheap. He is an expert in all things personal finance, and his work has been featured in Forbes, NerdWallet, Bankrate, CreditCards.com, Rocket Mortgage and Intuit Mint. His home base is in Cincinnati, but he tries to travel the world as much as possible with his wife and six kids.