The Home Depot Consumer Credit Card is a store credit card that offers few useful benefits, even when compared to other store credit cards. Unless this card's financing options make sense for you, there are dozens of other credit cards that will provide more value for the average Home Depot customer.
Below, CNBC Select shares the details of this card's lack of benefits and offers more valuable alternatives.
Home Depot Consumer Credit Card
Rewards
None
Welcome bonus
For a limited time, save up to $100 when you make a qualifying purchase with your new card.
Annual fee
$0
Intro APR
None
Regular APR
Standard APR is 29.99%. With a $2 minimum interest charge.
Balance transfer fee
Not applicable
Foreign transaction fee
Not applicable
Pros
- No annual fee
- Special financing offers
Cons
- High standard APR
- No rewards
Home Depot credit card review
Welcome bonus
For a limited time, save up to $100 on a qualifying purchase when you open a new card.
Benefits and perks
Home Depot Consumer Credit Card holders can access special financing offers. Qualifying purchases of $299 or more are eligible for six months of deferred interest financing. You'll pay no interest if you pay the bill in full within six months, otherwise, you'll be charged for all of the interest that has accumulated from day one. You're also eligible for special promotions that provide extended financing options. Card members can take advantage of an extended return window and have up to one year to return eligible purchases.
Rewards
The Home Depot Consumer Credit Card doesn't earn any type of credit card rewards.
Rates and fees
The Home Depot Consumer Credit Card has a 29.99% APR and no annual fee. The penalty for late payments is up to $40 and returned payments are subject to a fee of up to $41.
Home Depot card comparison
Home Depot Consumer Credit Card vs. Lowe's Advantage Card
MyLowe's Rewards Credit Card
Rewards
5% off eligible purchases
Welcome bonus
For a limited time, new accounts get 20% off a qualifying purchase, up to $100
Annual fee
$0
Intro APR
None
Regular APR
Standard APR is 31.99%
Balance transfer fee
Not applicable
Foreign transaction fee
Not applicable
Credit needed
Not applicable
Terms apply.
The Lowe's Advantage Card has a lot in common with the Home Depot card: they both are store cards you can only use at that specific retailer, and both provide deferred-interest financing offers to cardholders.
And while neither card earns rewards, the Lowe's Advantage Card at least provides a 5% discount on all eligible Lowe's purchases. This discount can quickly add up for large purchases or expensive home improvement projects and make the Lowe's card a more valuable option. However, you'll still want to price shop to ensure you're getting the best overall deal, and the 5% discount doesn't apply to every purchase, so it's important to read the fine print.
Home Depot Consumer Credit Card vs. Wells Fargo Reflect® Card
Wells Fargo Reflect® Card
Rewards
None
Welcome bonus
None
Annual fee
$0
Intro APR
0% intro APR for 21 months from account opening on purchases and qualifying balance transfers.
Regular APR
18.24%, 24.74%, or 29.99% Variable APR on purchases and balance transfers
Balance transfer fee
5%, min: $5
Foreign transaction fee
3%
Credit needed
Excellent/Good
See rates and fees. Terms apply.
The Wells Fargo Reflect® Card can be a huge help when it comes to financing a big-ticket expense. It has a generous intro 0%-APR period of 21 months for purchases and qualifying balance transfers, then a standard APR of 18.24%, 24.74%, or 29.99% applies. Balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5. Similar to many other 0% APR cards, you only start accruing interest when the 0%-APR period ends.
This makes the Wells Fargo Reflect Card a less risky financing option than the deferred interest offers available with the Home Depot card. With the Reflect card, if at the end of the 21 months you haven't paid the balance in full, you'll only pay the interest you accrue from that point forward. Whereas, with deferred-interest Home Depot card offers if you don't pay off the balance for the special financing period expires, you're responsible for paying the interest from the first day the financing started.
Is the Home Depot credit card right for you?
Outside of niche scenarios, the Home Depot Consumer Credit Card doesn't provide much value. It earns no rewards and doesn't offer a discount on Home Depot purchases. The only real benefits of the card are the intro discount and financing offers. But the terms of these deals typically aren't as good as what's available with the best 0%-APR credit cards. As long as you have the credit to qualify for other cards, there is no shortage of better options for the vast majority of people.
Bottom line
The Home Depot Consumer Credit Card is a store credit card you can use for Home Depot purchases. But it doesn't earn rewards or directly save you money on Home Depot purchases. Most people will be better off with a basic rewards credit card or a card that offers no-interest financing.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best credit cards.
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