Home Depot offers several lines of credit and credit card options to help consumers meet their home improvement project goals. While there are several commercial options for small businesses and independent contractors, the most common line of credit is the Consumer Credit Card.
This store card is targeted at the average consumer and offers several benefits when compared to making purchases on a non-store card. Home Depot’s website has all the information on how to apply and specific enrollment details for acquiring this card.
Special Deferred Interest Rate
There are several benefits to owning a Home Depot Consumer Credit Card; however one of the greatest rewards is the special everyday financing which alters the interest rate of items purchased at the store and online. If the cardholder makes a purchase of $299 or more, and the purchase is paid off within six months, there will be no interest charged to the account. These savings can really add up when you consider the standard interest rate of 17.99% to 26.99% for the card. If the cardholder makes a $5000 home improvement purchase and pays it off within the six months that represents a savings of almost $650 in interest payments. It is not difficult to spend significant money on your home or property, especially if you are doing the major landscaping or buying new appliances. This deferred interest offers significant flexibility for the cardholder as they can quickly transition from one project to the next, without tying up all of their funds on immediate payments and money lost to interest.
Other Special Offers and Incentives
When signing up for this card, it often comes with several other special offers, rewards, and/or incentives. In September 2016, the Home Depot was offering a $25 discount on a Toro Snow Blower, 10% off installed outdoor fixtures along with an additional 5% statement credit, and special 24 months, 0% rate for installed HVAC systems. These savings can make your dollar go significantly further towards other projects. Some cardholders have reported getting additional discounts or coupons for signing up, including 10% off their first purchase with the card. Keep an eye out for those in the mail or through email. This card also comes without a yearly payment, which is a great incentive to own this card, even if it is used infrequently. The cardholder could use the card when they are active in the summer months and will face a penalty for when they are not using it.
Other Consumer Card Variations
Finally, there are several variations of the Consumer Credit Card. One such card offers free returns on all building materials up to twelve months, as opposed to the standard 90 days for non-store card members. This extra allowance gives you more time to tackle large projects, without the fear of buying too many or too few materials. It also allows the cardholder to purchase materials when they are on the best sale or incentive to maximize their ability to save. This card has many benefits for persons starting home improvement projects. The deferred interest and additional special offers make the card a great way to get a jump on your project and save significant money in the process. Keep an eye on the website for when special card offers will line up with your needs to maximize your potential savings. These special offers paired with in-store discounts make the Home Depot your go-to place for home improvement projects. Head over to the Home Depot’s website for more information about the card itself, information on how to apply, specific enrollment details, as well as any special offers currently going on with the card.