Home Depot 18 Months No Interest


Capital One Quicksilver Cash Rewards Credit Card

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If you want to take advantage of a 0% APR introductory period and the opportunity to earn some cash back over time, the Capital One Quicksilver Card could be a good option. Youll have 15 months of 0% APR on new purchases and balance transfers, then a regular variable APR of 16.49% 26.49%. Plus, youll get unlimited 1.5% cash back on every purchase and can earn a $200 welcome bonus when you spend $500 within three months of account opening.

*All information about the The Home Depot Consumer Credit Card, U.S. Bank Visa® Platinum Card and Lowes Advantage Cardhas as been collected independently by NextAdvisor and has not been reviewed by the issuer.

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How Do I Apply For A Home Depot Credit Card

You may apply for The Home Depot Consumer Credit Card* and other Home Depot branded, co-branded or store products online, but you can also apply in person at any Home Depot store. Since eligibility is based on creditworthiness, a credit check will be run before approval is granted and approval is not guaranteed. The card issuer will determine your purchase APR or other applicable terms specific to the product for which you apply based on your creditworthiness. You can pre-qualify on the Home Depot website to gauge the likelihood of your approval and what terms you may be given.

It Offers Deferred Interest

The Home Depot Consumer Credit Card can help you finance a big home project in fact, that’s its primary selling point. It offers six months of deferred interest on purchases of $299 or more.

Be aware, however, that there’s a difference between deferred interest and a true 0% intro APR offer. The former merely “sets aside” interest, while the latter waives it for a period of time.

With The Home Depot Consumer Credit Card, if you fail to completely pay off the balance at the six-month mark, youll be responsible for interest accruing from the day you made the purchase. That could end up being an expensive mistake.

If you can qualify for a card with a true 0% introductory APR offer that lasts 12 months or longer, youd be better off. The Chase Freedom Unlimited®, for example, offers an intro 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 17.24%-25.99% Variable APR. Plus, it earns rewards: at least 1.5% on everything.

» MORE:Best 0% APR credit cards || Best low interest credit cards

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Home Equity Line Of Credit

Like a home equity loan, a home equity line of credit uses your home as collateral. Unlike a home equity loan, a HELOC is similar to a credit card, except you have a specific draw period when you can make charges. The draw period typically lasts around 10 years. Once your HELOC enters repayment, youll pay back your outstanding debt on a set schedule.

The borrowing limit is usually up to 85% of the value of your home minus the amount you still owe. Lenders also typically check your credit score and history, employment background, income and monthly debts to determine eligibility.

A HELOC usually comes with a variable interest rate that could rise or fall over the life of the loan. This makes your payments less predictable. Some banks will offer an introductory phase for a HELOC with a low teaser interest rate, but the amount will eventually increase after six months or more.


Similar flexibility to a credit card

Lower interest rate than credit card

Can borrow large amounts on an as-needed basis

Variable rate makes repayment less predictable

Set draw period when you can make charges

A high credit score recommended to qualify for your best rates

Secured by your home

Your interest rate is variable, however, meaning you wont know how your payments might fluctuate in the future. To get a competitive rate, youll need strong credit. As with a home equity loan, if you fall behind during repayment, you risk losing your home.

Can You Save With The Home Depot Credit Card

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Youll save right off the bat with a one-time new account discount of $25 off $25+, $50 off $300+, or $100 off $1,000+ on qualifying purchases. Long term, youll always get 6 months of special financing on $299+ orders, which comes in handy for home renovation projects or higher-priced items like refrigerators, bathtubs, and outdoor grills. Just be sure to pay off the balance within 6 months, otherwise, the 17.99%26.99% APR kicks in and youll be paying back interest starting from the purchase date.

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The Home Depot Project Loan

The Home Depot Project Loan is more like a fixed personal loan than a traditional credit card. If you qualify, you can access a line of credit up to $55,000 with up to 84 months pay it off. Youll have six months after approval to purchase everything for your project, which youll pay off in fixed monthly payments at a fixed interest rate. Theres no annual fee.

Your APR is based on your loan amount and credit approval. There are four tiers you may be approved for:

  • 66 monthly payments at 7.42% APR
  • 78 monthly payments at 12.86% APR
  • 90 monthly payments at 16.24% APR
  • 114 monthly payments at 19.96% APR

Monthly payments will not exceed $20 per $1,000 spent. Heres what your monthly payments might look like depending on your loan amount, according to Home Depots website:

Loan Amount
$55,000 $1,100

While the interest rates on a Home Depot Project Loan can be much more affordable than interest on the Home Depot Consumer Credit Card, your total will quickly add up if you only make minimum monthly payments over the lifetime of the loan. Before you start your project, budget for the supplies youll need and come up with a plan to pay off your purchase as quickly as possible to avoid racking up interest payments.

Home Depot Credit Card Application

You can apply for this card online or in-store. Just provide basic information on the website or the application provided at the Customer Service desk of any Home Depot store.

Youll need to provide proof of identity and income level.

The approval shouldnt take too long once you submit all of your documentation.

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Who Should Consider The Home Depot Credit Card

If youre an avid Home Depot shopper, the card may make sense for you. The card does not offer any cash back, but it could be enticing for those interested in the introduction offers currently being made. With that, consumers may want to consider one of the best cash back credit cards if they are going to be shopping at the home improvement store for routine fixes.

Pro Xtra Commercial Revolving Charge Card

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Specifically for Home Depots professional customers, the Pro Xtra Commercial Revolving Charge Card allows authorized employees to use the card for company purchases at any U.S. Home Depot store location. As a Pro Xtra program member, users of the Commercial Revolving Charge Card qualify for the 4X Faster Perks benefit and a handful of other benefits, including the potential to earn discounts on paint and other products.

Every dollar spent with the card earns four dollars of credit to be used only toward ProXtra Perks which, subject to terms and conditions, may include tool rental perks and Pro Xtra Dollars, which can be redeemed in store for qualifying merchandise and services.

Note that this program involves minimum spending thresholds and a maximum number of Perks you can earn on the card, though the program terms and conditions lack specifics, instead pointing to the members MyAccount pages.

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Home Depot Offers A Separate Card For Bigger Projects

Home Depot also offers the Home Depot Project Loan Card, which allows cardholders to borrow up to $55,000 for big improvement projects at a relatively low APR for up to 84 months .

It’s designed to finance major projects such as kitchen or bathroom remodels and could appeal to consumers who don’t have access to lower-APR loans elsewhere, such as a home equity loan.

Us Bank Visa Platinum Card

Depending on the size and expense of your home project, a 0% APR card with a long introductory period might make more sense than a branded store card. The U.S. Bank Visa Platinum offers a 0% intro APR for the first 20 billing cycles on purchases and balance transfers, has no annual fee, and a regular variable APR of 16.24%-26.74%.

Theres a bit less risk with this card than the Home Depot Consumer Credit Card too. Any balance remaining at the end of the intro period will only begin accruing interest from that date, rather than taking on retroactive interest from your purchase date like the Home Depot cards deferred interest offer.

However, you should still pay off as much of your balance as possible and ideally all of it before the end of your introductory period to avoid being hit with the high ongoing APR. You also wont earn any special rewards or discounts with this card, but it can be a good choice to give yourself a buffer to pay down your project expenses.

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How Can I Save Money With The Home Depot Consumer Credit Card

The Home Depot relies on promotional offers to lure potential customers in a handful of ways:

  • No-interest periods for select purchases
  • Limited-time discount offers for select purchases
  • Extended return policy
  • The Home Depot does not offer a straight discount on purchases made with its in-house credit card. This is in contrast to the Lowes Advantage Card: It offers 5% off everyday purchases at Lowes, which is The Home Depots major home improvement store competitor.

    Is A Home Depot Credit Card Worth It

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    It depends. If you plan on making big purchases and paying them off within 6 months, then the Home Depot credit card can come in handyespecially if you use your new account discount. But if youre unable to pay off your balance within 6 months, youll get hit with a high APR and deferred interest charges.

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    What Is The Home Depot Consumer Credit Card

    The Home Depot Consumer Credit Card is a store credit card that has two major benefits: a new account discount and six months of special financing. Its free to use and easy to sign up for . And once you do, youll be able to use it to make purchases on appliances, home decor, furniture, kitchenware, flooring, and more online at homedepot.com and at any Home Depot store. Here are a few features:

    • 6 months financing on $299+
    • Up to 24 months financing during special promotions
    • Longer return period
    • Zero liability on unauthorized charges
    • Up to $100 off qualifying purchases for new accounts

    Home Depot Financing Options: 6 Ways To Pay

    Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It may not have been reviewed, commissioned or otherwise endorsed by any of our network partners.

    Whether youre shopping for a home renovation or you just want to spruce up your garden, you have a variety of options for financing your Home Depot purchase. The store offers two options: the co-branded Home Depot Consumer Credit Card and Home Depot Project Loan, but you can also tap traditional payment options, like a zero-interest credit card or a personal loan.

    If youre planning a home improvement project, read on for six Home Depot financing options.

    In this article, well explore these financing options:

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    Clarks Second Suggestion: Low Fixed

    What if your project is expensive but not worth accessing a line of credit? Clark still has an alternative to the store credit card.

    While youre at that local bank or credit union, perhaps you could ask about their lowest fixed-rate APR credit cards.

    Clark says you can often find a fixed-rate credit card at a credit union for under 10% APR. He would prefer locking in that card rate and then trying to pay the balance off early instead of trying to dodge that retroactive interest.

    Home Depot Credit Card Offers

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    Here are some offers for the Home Depot credit card:

    Initial Zero-Interest Rates

    On purchases of $299 or more, the Home Depot Consumer Credit Card provides a six-month interest-free period.

    Special Rates On Select Products

    The Home Depot credit card also offers special rates on eligible store purchases.

    For example, you can get a discount on certain appliances if you send them your old ones before purchasing a new one.

    Offers are subject to credit approval.

    Extended Warranties And Insurance Coverage

    These will both come in handy if something goes wrong with your purchase after the return or exchange period, for example, accidental damage or mechanical failure.

    Other Offers

    As of February 2021, Home Depot also provides customer benefits such as discounts and bill credit for specific purchases.

    For example, Home Depot provides free stain and a 5% bill credit on select pergolas and pavilions, up to $500 off, and a 5% statement credit on some sheds and garages.

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    How Does This Affect My Credit Score

    As with most store cards and most credit cards a hard credit inquiry is run in order to approve applicants for Home Depot credit services. Applying for any credit product is a decision you always should make carefully, since credit checks often lower your credit score by a few points. On the Home Depot website you can also see whether you pre-qualify for the Consumer Credit Card, which is a helpful way to see your chances of approval without negatively impacting your credit score. Prequalification or preapproval are not guarantees of approval for any credit card or loan.

    If you are approved for a Home Depot consumer credit card, your purchases will likely be reported by the card issuer, Citibank, to the three major credit bureaus. If you practice responsible financial and credit habits, such as remaining mindful of maintaining a low credit utilization ratio, you can use this card to improve your credit score over time.

    Things To Know About The Home Depot Credit Card

    Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list ofour partnersandhere’s how we make money.

    Theres something appealing about strolling through Home Depots wide aisles, dreaming of home improvement projects that might be in your future. Unfortunately, The Home Depot Consumer Credit Card doesnt elicit the same good vibes, despite its $0 annual fee.

    Thats because the store-branded card doesn’t earn ongoing rewards and offers little in the way of perks. Even the most loyal Home Depot fan would probably be better off with a flat-rate cash-back or rewards card.

    Here are five things to know about The Home Depot Consumer Credit Card:

    » MORE:NerdWallet’s best credit cards

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    How The Home Depot Credit Card Works

    Home improvement isnt cheap, but sometimes it becomes a must do instead of a want to. When that’s the case, a credit card from Home Depot might be just the ticket, especially for emergencies that come with a high price tag.

    Home Depot offers a variety of credit cards, including consumer cards and company cards. On the consumer side, Home Depot offers its consumer credit card that can be used by individuals at its stores. This card comes with six months of 0% financing for a purchase of $299 or more.

    Home Depot also offers commercial cards for contractors and businesses. Its commercial cards include a commercial charge card and a commercial line of credit account . Home Depots credit cards are issued by Citibank.

    The Home Depot Consumer Credit Card Review: Should You Apply In 2022

    Home Depot Coupon Up to 24 Months Financing

    If youve been to The Home Depot in 2022, you probably have noticed signs for The Home Depot Consumer Credit Card.

    The in-house credit card touts interest-free payment plans and potential discounts on select purchases. But theres a catch!

    Money expert Clark Howard says there are risks with store credit cards like these that arent always obvious. In this article, Im going to detail the risks as well as the pros and cons of this card.

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    How Does The Home Depot Credit Card Work

    Its a store-branded card that works similarly to other store credit cards.

    If you already shop at Home Depot, either for home improvement projects or for business supplies, using this store card will allow you to take advantage of their sales and special offers.

    Youll also get discounts on specific products and services offered in stores.

    On top of that, cardholders receive hassle-free returns for a year. That is four times longer than you would ordinarily get on the stores purchases.

    Cardholders may also take advantage of special rotating deals. For example, 10% off a specific brand for a short period or 24-month financing during unique campaigns.

    The Home Depot Consumer Credit Card: Pros And Cons

    Cannot use the card anywhere but The Home Depot
    Promotional discount offers on select products High APR interest awaits if balance is not paid in full.
    One-year return policy on purchases made with the card Retroactive interest is due on special financing if not paid in full by end of the promotional period.

    Bottom Line: While the temptation may be strong, Clarks advice is to forgo The Home Depot Consumer Credit Card in favor of other financing options.

    If you have a small project, perhaps you could take advantage of a rewards program with your existing credit card. If you have a large purchase to make, Clark would prefer that you seek a loan or fixed-rate credit card that will give you a stable path to quick repayment.

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