About Home Depot Consumer Credit Card

By J.R. Duren
HighYa Staff Published on: Nov 16, 2017

The Home Depot Consumer Credit Card is one of the most unique ones on the market because it gives you the chance to get 0% interest on any purchases you make at any time provided you meet a minimum spending requirement.

You don’t see this benefit on any other major credit cards and a lot of that has to do with the fact that homeowners and contractors tend to make bigger purchases at Home Depot because home-related projects tend to cost a lot of money.

Plumbing, electrical, gardening, appliances, doors, bathroom renovations; all of them require a good chunk of change to complete the right way. And, as we’ll talk about later, the 0% financing plays right into your situation.

But before we get into the finer points of the card, we want to give you an overview of what we’re going to cover in this review.

We’ve divided it up into four distinct sections: rewards, benefits, rates and fees and public opinions. Once we lay all of that out for you, we’ll wrap up our review with some general statements about the card’s pros, cons and who we think it’s good for.

Pro tip: The Home Depot Consumer Credit Card can only be used at Home Depot stores.

The Home Depot Consumer Credit Card’s Rewards

The most interesting thing about the Home Depot card is that there are no rewards bonuses for using the card. That’s right – none.

What we mean by that is, unlike the Target REDcard, for example, you won’t get any discounts when you use your card to make purchases at a Home Depot brick-and-mortar location or at the company’s website.

This is a pretty crazy omission, but it makes a lot of sense when you set it against the benefits that we’ll talk about in the next section.

The Home Depot Consumer Credit Card’s Benefits

We classify a credit card’s benefits as those features on your card available at all times and aren’t tied to any purchase rewards rates.

A good example of this is zero fraud liability. Credit card companies won’t hold you responsible for any fraudulent charges made to your account as long as you report them promptly.

The Home Depot card’s best benefit is zero-percent financing.

Zero-Interest Financing on Purchases

As we mentioned in the introduction to this review, the Home Depot card gives you a unique benefit.

Whenever you make purchases of at least $299, you have zero-percent financing for six months from the date of purchase. If you can pay off the entire purchase before the six months are up, you won’t pay any interest.

If you can’t pay it off at the end of six months, you’ll be charged interest on the entire purchase amount. This is what’s known as deferred interest and it’s something unique to store credit cards.

The idea here is to use the zero percent to convince you to make a big purchase that you can’t pay off by the end of the six months.

Now, that 0% offer is good for all purchases over $299. However, there are other 0% offers for purchases in specific departments.

For example, at the time of publishing, Home Depot was offering 0% financing for 12 months on all appliances $299 or more.

Another deal we found was 18 months of interest-free financing on “special order and installed blinds, shades and shutters” that cost $999 or more. If you spend $1,999 or more on them, then you’ll get 24 months of interest-free payments.

There’s one catch to these offers, though. They change frequently and don’t last long. The appliance offer was only good for 21 days, while the blinds deal was available for 12 weeks.

Also, it’s important to remember that these offers use something called “deferred interest,” which means you’ll pay interest on the entire purchase amount if you don’t pay your balance off in full by the end of the promo period.

For example, if your standard APR is 17.99% and you buy a $900 stove with a 12-month 0% offer, you’ll pay $161.91 in deferred interest if you don’t pay the balance off by the 12-month deadline.

Extended Return Period

Whenever you use your Home Depot card to make a purchase, you have one-year to take that item back. This is a great benefit because the things you buy for your home tend to have a direct impact on your life.

Being able to return a defective dryer within the first year, for example, saves you the hassle of having to work with the manufacturer to send out a repairman to check out the unit and, if need be, replace it. All you have to do is return it to Home Depot and buy a new one, a process that could take less than an hour depending on how long it takes you to get to the store.

These returns will follow the overall guidelines for returns. You’ll have to bring your receipt/shipping confirmation email, a photo ID and the credit card you used to make the purchase.

Pro tip: Sign up for Home Depot’s emailed receipts so you don’t have to worry about keeping track of the paper one.

The Home Depot Consumer Credit Card’s Rates and Fees

As with nearly every store credit card out there, the Home Depot card’s interest rates are a little higher than normal.

At the time of publishing, the APR on this card is one of four numbers: 17.99%, 21.99%, 25.99% or 26.99%. Which rate you get is based on your credit scores. The better the scores, the lower the rate.

These interest rates will only kick in when you don’t pay your balance off in full each month or purchases you made with the 0% financing aren’t paid off by the end of the promo period.

While the Home Depot card’s rates are higher than the average credit card, the low-end APR of 17.99% is pretty reasonable compared to cards like the REDcard, which has a single APR of 23.90%.

As for fees, you’ll pay up to $35 for late and/or returned payments.

See Also: Are Store Credit Cards Worth It?

Public Opinion About the Home Depot Consumer Credit Card

Our research of user reviews of the Home Depot card unearthed a lot of frustration and negativity. Reviewers spoke of frustration over interest charges for purchases made during promo periods, late fees assessed on payments that were paid on time, poor customer service and other account glitches.

These complaints revealed an interesting point – that you have to tell Home Depot to apply payments to your promotional purchases. Credit card companies tend to put your payments toward the balances with the highest APRs first.

So, if you spend $200 on your card while you’ve got a $1,000 purchase on 0% APR, your $200 payment is going towards that non-promo purchase because the APR on that purchase is somewhere between 17.99% and 26.99%.

Keep this in mind if you’re carrying promotional purchases on your card.

Related: Comparison of the Best Store Credit Cards

Pros of the Home Depot Consumer Credit Card

Based on what we saw during our research, we believe this card’s greatest strength is its everyday 0% APR offer, something that you just don’t see with most credit cards.

This option allows you to finance for at least six months any big purchases you have to make. This type of offer can be a relief for homeowners who need to buy a new appliance because they’re in a jam, or they need to replace a broken A/C unit during the summer.

Stretching those payments out can make the surprise expense manageable, but only if you pay the balance off by the end of the promo period.

Cons of the Home Depot Consumer Credit Card

The two downsides to this card are the deferred interest and the clunky payment system for purchases and promo balances.

Deferred interest is common among store credit cards, so that’s not a big surprise. But it can be annoying for customers to have to call Home Depot’s credit card line in order to make specific payments toward their promotional balance.

However, if you don’t spend that much money each month at Home Depot, this may not be an issue.

Who This Card Is Good For

We believe this card is a great fit for a homeowner who has a calendar of ongoing projects in their home. If you’re doing a renovation or you have a wish list of new appliances you want to buy over the next few years, this card will allow you to systematically make those purchases without ever having to pay interest on them.

On that note, we’d also like to point out that someone who is responsible and can pay off their balances by the end of the promo period will also benefit from this card.

If you can’t handle a balance and usually carry them past the promo period, this card probably isn’t a good fit for you because the deferred interest will hammer away at you.

Our advice is to think about what you need to buy in the next few months. Are you going to need to buy all your supplies at one time or replace your appliances all at once?

If that’s the case, then you might want to consider using a cash rewards card like the Chase Freedom Unlimited. The card has no annual fee, 15 months of 0% APR and a $150 sign-up bonus.

Better yet, you’ll earn 1.5% rewards on every dollar you spend. You can redeem those rewards for cash or transfer them to a travel partner like Hyatt, Southwest, Marriott or United. Getting this credit card will require a good credit score, though, so keep that in mind.

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