Home Depot Credit Card: Everything You Need to Know

Irina Tsymbaliuk

Virtually every major store in the US has some sort of bonus program or special payment method aimed at enhancing user experience, allowing their clients to save on purchases, or providing preferential credit terms. One such example is the Home Depot credit card, which operates in the retail network of the same name.

If you expect to learn about cashback, rewards cards, etc., we must disappoint you right from the get-go, as the offer does not include any of them (apart from a welcome discount). Instead, you can manage your funds more effectively through Home Depot financing options, which are flexible to your income and allow you to divide significant loans into smaller parts.

The store offers several card options, each with its own set of bonuses and terms. The advantages of Home Depot credit cards are quite specific, and will not suit everyone. We at Rates reviewed the specifics of this offers to help you make an informed decision.

How to Become a Home Depot Credit Card Owner?

How to Become a Home Depot Credit Card Owner

It’s not a simple process, as you can’t just walk in and acquire one. Instead, you must apply for this card at one of the store branches or through the website, and your credit rating must be high enough for the Home Depot credit services financial department to approve your application. You can also take a test on the website to assess your chances of getting the card.

Lastly, let’s talk about the less obvious aspects of the offer. The terms that will apply to the lending program will be created specifically for you. This means the issuer will consider your credit history and your potential as a payer and buyer and assign interest rates as well as a range of other program features.

Home Depot Credit Card Requirements

  • Credit score requirement: A credit score of 640+ (fair credit);
  • Age requirement: Must be at least 18 years old. If you’re under 21 years old, you must have proof of independent income or a cosigner;
  • Residency requirement: You must be a US resident. Address must be a physical location in one of the 50 US states or Washington, DC. Note that PO box addresses will not be accepted;
  • Basic application info: full name, address, phone number, Social Security number, and birthdate;
  • Financial info: Includes monthly rent or mortgage payment, residence status (own/rent), and total annual net income (annual income after taxes).

Note that the network also has its own mobile app where you can create an account, link the card, and manage it directly from your smartphone.

Home Depot Credit Card: How to Use it?

Home Depot Credit Card: How to Use it?

The key factor you should consider if you apply for a Home Depot credit card is that you can only use it in physical and online stores of this network. It does not work in third-party stores, and there is no option to withdraw funds from ATMs. The main reasons to go for this offer are the welcome discount and promotional period.

When you obtain the card, you’ll receive a welcome bonus:

  • $25 discount on purchases from $25 to $299;
  • $50 discount on purchases from $300 to $999;
  • $100 discount on purchases totaling $1000 or more.

You also get a six-month promotional period with an annual rate of 0% for purchases over $299. The standard APR is 29.99%.

Regarding direct use cases of this type of payment method, two potentially advantageous scenarios come to mind:

  1. Active purchases within the store network can improve the consumer’s credit rating and allow payments to be split into smaller amounts.
  2. Large purchases (up to $55,000) during special promotions offer a promotional period of 24 months instead of the basic six.

Considering that there are no bonuses in the system, the extended deferment and reduced APR for a limited period are the main advantages of the Home Depot consumer credit card.

Managing Expenses: How to Avoid Losing Extra Money With a Home Depot Store Card?

How to Avoid Losing Extra Money

After the standard financing period ends, the customer incurs a late payment penalty of up to $40 and a return fee of up to $41. In addition, the APR is $29.99. Fortunately, there is no annual card maintenance fee to pay.

As you can understand, there are no bonuses or rewards to expect, so you shouldn’t count on compensation for the loan amount. You also risk paying all the interest if you don’t repay the credit on time. In such a case, you will have to pay all the interest (even those excluded under the terms of the promotional period). These expenses can be pretty significant and unexpected if you forget about the terms of use for the card.

Overall, we would recommend choosing something more versatile, like Chase Freedom, Wells Fargo Active Cash® Card, or Citi Double Cash® Card. These cards have clear bonus programs and cashback systems ranging from 1% to 6.5%. They also work in a wider range of commercial networks in the US or even beyond its borders.

Final Thought

In reality, the Home Depot credit card is quite a limited payment method that works exclusively within the store network and on the company’s official website. The absence of a bonus system and the risk of additional expenses make this card not the most effective financial tool. Even if you frequently make purchases in this retail chain, you can find much more beneficial options than just a promotional financing period.


What are the alternatives to the Home Depot credit card?

There are versatile options like Chase Freedom, Wells Fargo Active Cash® Card, and Citi Double Cash® Card. As for the segmented options, you can decide on your own by visiting the website of your favorite retail chain and looking for an in-house card issuance program.

What are the fees associated with Home Depot credit cards?

After the standard financing period ends, the customer incurs a late payment penalty of up to $40 and a return fee of up to $41. In addition, the APR is $29.99. There is no annual card maintenance fee.

How does the Home Depot credit card compare to other store credit cards?

The card is intended exclusively for use in its home retail network and allows participation in periodic promotions. The only significant advantage is a promotional period and installment options up to 24 months. Check Home Depot credit card reviews online to decide whether you need this option.