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Home Depot Consumer Credit Card credit card reviews

Home Depot Consumer Credit Card credit card details and credit card application link.

The Consumer Credit Card issued by Home Depot is designed for single individuals who intend to make home improvements or carry out construction work, regardless of the project’s size. The card can be used for purchases at Home Depot stores only, but it offers many advantages to compensate for this relatively restricted area of application.

For example, the card allows holders to accrue no interest and make no payments during the first six months of usage, provided that they have made purchases over 299.00 dollars. One should keep in mind, though, that after the end of this promotional period, interest charges will begin to accumulate. At present, the interest rate that Home Depot collects is between 18 and 27 percent, depending on the applicant’s credit score and the amount of purchases they have made. In compliance with the company’s policy to encourage large-scale redevelopments, the interest rate is inversely proportional to the cardholder’s spending. In other words, the bigger the purchases of a client, the less interest he or she will have to pay.

Another good incentive to use this card is the lack of any annual service fees. This distinguishes the Home Depot Consumer Credit Card from other credit lines, e.g. the different BMO MasterCard options, which charge annual service fees of about 100.00 dollars on the average.

The Consumer Credit Card holder can choose between making monthly payments and paying off the balance in full every month. Payments can be settled either by mail or at the nearest Home Depot store.

A drawback of this credit card is that it does not allow the collection of any rewards points. Until recently, Home Depot offered a Consumer Rewards MasterCard, where the holder would get bonus points for every purchase he or she makes. As of 31 October 2009, however, Home Depot and Citibank USA, the underwriting bank, have agreed to discontinue servicing this credit line.

The best way to apply for the Home Depot Consumer Credit Card is to visit the company’s website and fill out the requisite form online (you will be asked to provide general information, such as current and permanent address, date of birth, residential and marital status, estimated gross income, current debts, valid Canadian ID No., etc.). If you have reasons to mistrust the security features offered by your internet provider, you are advised to go to the local Home Depot outlet and complete the application procedure there.

If you prefer to shop at Bay, Zellers, and Hbc, you might think of applying for the Hbc Credit Card. This financial product comes with an interest rate of 28.8 percent, no annual fee, and interest-free period of 21 days. Clients get supplementary cards free-of-charge and shop at Esso and Sunoco gas stations, along with Home Outfitters and Fields. Moreover, card holders earn 50 bonus points for every dollar spent, but they must link their Hbc rewards accounts to the Hbc MasterCard or Hbc Credit Card as to earn points at Sunoco or Esso. As an additional benefit, the card goes with Account Protector coverage in cases of accidental death, loss of life, and involuntary job loss.

Likely applicants are Canadian residents, presently employed, with an annual income of $15,000 or more who have reached the minimum age requirement in their province or territory of residence, and have not declared bankruptcy over the last seven years.

Credit Card Details
NameHome Depot Consumer Credit Card Apply Now
Interest Rate28.8%
Annual Fee$0
Cash BackNo
Low InterestNo
Auto and GasNo
Instant ApprovalNo
Balance TransferNo
US DollarNo
No Annual FeeYes