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75 Off With Home Depot Credit Card
HighYa Staff Published on: Nov 16, 2017
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The Home Depot Consumer Acclaim Agenda is one of the best different ones on the bazaar because it gives you the adventitious to get 0% absorption on any purchases you accomplish at any time provided you accommodated a minimum spending requirement.
You don’t see this anniversary on any added above acclaim cards and a lot of that has to do with the actuality that homeowners and contractors tend to accomplish bigger purchases at Home Depot because home-related projects tend to bulk a lot of money.
Plumbing, electrical, gardening, appliances, doors, bath renovations; all of them crave a acceptable block of change to complete the appropriate way. And, as we’ll allocution about later, the 0% costs plays appropriate into your situation.
But afore we get into the bigger credibility of the card, we appetite to accord you an overview of what we’re activity to awning in this review.
We’ve disconnected it up into four audible sections: rewards, benefits, ante and fees and accessible opinions. Already we lay all of that out for you, we’ll blanket up our analysis with some accepted statements about the card’s pros, cons and who we anticipate it’s acceptable for.
Pro tip: The Home Depot Consumer Acclaim Agenda can alone be acclimated at Home Depot stores.
The best absorbing affair about the Home Depot agenda is that there are no rewards bonuses for application the card. That’s appropriate – none.
What we beggarly by that is, clashing the Target REDcard, for example, you won’t get any discounts aback you use your agenda to accomplish purchases at a Home Depot brick-and-mortar area or at the company’s website.
This is a appealing crazy omission, but it makes a lot of faculty aback you set it adjoin the allowances that we’ll allocution about in the abutting section.
We allocate a acclaim card’s allowances as those appearance on your agenda accessible at all times and aren’t angry to any acquirement rewards rates.
A acceptable archetype of this is aught artifice liability. Acclaim agenda companies won’t authority you amenable for any counterfeit accuse fabricated to your anniversary as continued as you address them promptly.
The Home Depot card’s best anniversary is zero-percent financing.
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As we mentioned in the addition to this review, the Home Depot agenda gives you a different benefit.
Whenever you accomplish purchases of at atomic $299, you accept zero-percent costs for six months from the date of purchase. If you can pay off the absolute acquirement afore 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 answerable absorption on the absolute acquirement amount. This is what’s accepted as deferred absorption and it’s article different to abundance acclaim cards.
The abstraction actuality is to use the aught percent to argue you to accomplish a big acquirement that you can’t pay off by the end of the six months.
Now, that 0% action is acceptable for all purchases over $299. However, there are added 0% offers for purchases in specific departments.
For example, at the time of publishing, Home Depot was alms 0% costs for 12 months on all accessories $299 or more.
Another accord we begin was 18 months of interest-free costs on “special adjustment and installed blinds, shades and shutters” that bulk $999 or more. If you absorb $1,999 or added on them, again you’ll get 24 months of interest-free payments.
There’s one bolt to these offers, though. They change frequently and don’t aftermost long. The apparatus action was alone acceptable for 21 days, while the blinds accord was accessible for 12 weeks.
Also, it’s important to bethink that these offers use article alleged “deferred interest,” which agency you’ll pay absorption on the absolute acquirement bulk if you don’t pay your antithesis off in abounding by the end of the promo period.
For example, if your accepted APR is 17.99% and you buy a $900 stove with a 12-month 0% offer, you’ll pay $161.91 in deferred absorption if you don’t pay the antithesis off by the 12-month deadline.
Whenever you use your Home Depot agenda to accomplish a purchase, you accept one-year to booty that anniversary back. This is a abundant anniversary because the things you buy for your home tend to accept a absolute appulse on your life.
Being able to acknowledgment a abnormal dryer aural the aboriginal year, for example, saves you the altercation of accepting to assignment with the architect to accelerate out a repairman to analysis out the assemblage and, if charge be, alter it. All you accept to do is acknowledgment it to Home Depot and buy a new one, a action that could booty beneath than an hour depending on how continued it takes you to get to the store.
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These allotment will chase the all-embracing guidelines for returns. You’ll accept to accompany your receipt/shipping acceptance email, a photo ID and the acclaim agenda you acclimated to accomplish the purchase.
Pro tip: Sign up for Home Depot’s emailed receipts so you don’t accept to anguish about befitting clue of the cardboard one.
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As with about every abundance acclaim agenda out there, the Home Depot card’s absorption ante are a little college than normal.
At the time of publishing, the APR on this agenda is one of four numbers: 17.99%, 21.99%, 25.99% or 26.99%. Which amount you get is based on your acclaim scores. The bigger the scores, the lower the rate.
These absorption ante will alone bang in aback you don’t pay your antithesis off in abounding anniversary ages or purchases you fabricated with the 0% costs aren’t paid off by the end of the promo period.
While the Home Depot card’s ante are college than the boilerplate acclaim card, the low-end APR of 17.99% is appealing reasonable compared to cards like the REDcard, which has a distinct APR of 23.90%.
As for fees, you’ll pay up to $35 for backward and/or alternate payments.
Our analysis of user reviews of the Home Depot agenda unearthed a lot of annoyance and negativity. Reviewers batten of annoyance over absorption accuse for purchases fabricated during promo periods, backward fees adjourned on payments that were paid on time, poor chump anniversary and added anniversary glitches.
These complaints appear an absorbing point – that you accept to acquaint Home Depot to administer payments to your promotional purchases. Acclaim agenda companies tend to put your payments against the balances with the accomplished APRs first.
So, if you absorb $200 on your agenda while you’ve got a $1,000 acquirement on 0% APR, your $200 acquittal is activity appear that non-promo acquirement because the APR on that acquirement is about amid 17.99% and 26.99%.
Keep this in apperception if you’re accustomed promotional purchases on your card.
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Related: Comparison of the Best Abundance Acclaim Cards
Based on what we saw during our research, we accept this card’s greatest backbone is its accustomed 0% APR offer, article that you aloof don’t see with best acclaim cards.
This advantage allows you to accounts for at atomic six months any big purchases you accept to make. This blazon of action can be a abatement for homeowners who charge to buy a new apparatus because they’re in a jam, or they charge to alter a burst A/C assemblage during the summer.
Stretching those payments out can accomplish the abruptness amount manageable, but alone if you pay the antithesis off by the end of the promo period.
The two downsides to this agenda are the deferred absorption and the bulky acquittal arrangement for purchases and promo balances.
Deferred absorption is accepted amid abundance acclaim cards, so that’s not a big surprise. But it can be annoying for barter to accept to alarm Home Depot’s acclaim agenda band in adjustment to accomplish specific payments against their promotional balance.
However, if you don’t absorb that abundant money anniversary ages at Home Depot, this may not be an issue.
We accept this agenda is a abundant fit for a homeowner who has a agenda of advancing projects in their home. If you’re accomplishing a advance or you accept a ambition account of new accessories you appetite to buy over the abutting few years, this agenda will acquiesce you to systematically accomplish those purchases after anytime accepting to pay absorption on them.
On that note, we’d additionally like to point out that addition who is amenable and can pay off their balances by the end of the promo aeon will additionally anniversary from this card.
If you can’t handle a antithesis and usually backpack them accomplished the promo period, this agenda apparently isn’t a acceptable fit for you because the deferred absorption will bang abroad at you.
Our admonition is to anticipate about what you charge to buy in the abutting few months. Are you activity to charge to buy all your food at one time or alter your accessories all at once?
If that’s the case, again you ability appetite to accede application a banknote rewards agenda like the Chase Freedom Unlimited. The agenda has no anniversary fee, 15 months of 0% APR and a $150 sign-up bonus.
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Better yet, you’ll acquire 1.5% rewards on every dollar you spend. You can redeem those rewards for banknote or alteration them to a biking accomplice like Hyatt, Southwest, Marriott or United. Getting this acclaim agenda will crave a acceptable acclaim score, though, so accumulate that in mind.
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