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The Home Depot Consumer Credit Card review: Build your credit and finance your projects

This card is best for building credit while financing short-term home improvement projects.

 /  10 min
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Snapshot

2.1

Bankrate rating
Info
Rating: 2.1 stars out of 5

Bottom line

This card is ideal for financing a large project at Home Depot and getting an initial discount but offers little else. It has no rewards, intro APR offers or ongoing discounts.

Image of The Home Depot Consumer Credit Card

The Home Depot Consumer Credit Card

*
2.1
Rating: 2.1 stars out of 5
Bankrate score
Info
Fair to Good (580 – 740)
Info
Recommended Credit

N/A

Purchase intro APR

17.99% - 26.99% Variable

Regular APR

N/A

Intro offer

Info

N/A

Rewards rate

Info

$0

Annual fee

The Home Depot Consumer Credit Card overview

The Home Depot Consumer Credit Card is a store-specific home improvement credit card. With no annual fee, financing options and initial discounts, this can be a decent option for people with less-than-ideal credit to pay for home improvements and improve their credit scores.

With no rewards or other incentives to continue spending, this card is best for financing projects. Like other store-branded cards, it comes with a high APR, which can be very costly if you fall behind on payments. If financing isn’t a primary concern, other rewards-earning cards will undoubtedly be a better alternative.

  • Credit Card Cash Back

    Rewards

    • This card doesn’t offer any rewards

    Expert Appraisal: Weak
    See our expert analysis

  • Rewards

    Welcome offer

    • Get a $25 discount on a purchase of $25 to $299, a $50 discount on a purchase of $300 to $999 or a $100 discount on a purchase of $1,000 or more (excluding tax and delivery fees)

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Card Apr

    0% intro APR offer

    • 0 percent introductory rate on financing for the first six months to two years for purchases over $299
    • 29.99 percent APR after

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Card Search

    Rates and fees

    • Annual fee: $0
    • Late fee: $40

    Expert Appraisal: Typical
    See our expert analysis

  • Congrats

    Other cardholder perks

    • Return policy extended from 3 months to 1 year
    • Zero liability on unauthorized charges

    Expert Appraisal: Unimpressive
    See our expert analysis

The Home Depot Consumer Credit Card pros and cons

Pros

  • Checkmark

    This card has no annual fee, so it doesn’t have extra costs to keep in your wallet.

  • Checkmark

    It has fairly relaxed credit requirements; we recommend fair to good credit for approval.

  • Checkmark

    You can get no-interest financing for as long as two years, which can help finance large home improvement projects.

Cons

  • This card has no rewards or incentives, weakening its value compared to other store credit cards.

  • The ongoing APR is high compared to other cards.

  • Deferred interest charges can quickly accumulate unless paid before the end of the finance period.

Why you might want the Home Depot Consumer Credit Card

The ideal use for the Home Depot card is when you have an upcoming home improvement project that you can’t pay in full upfront. Using the card’s initial discount and financing offer gives you breathing room to pay for your project without paying interest as long as you pay the balance before the end of the financing term.

Intro APR: Good financing options

Spreading out costs over time without paying interest is a valuable tool to finance a project or build credit. This card offers various financing options on purchases more than $299, meaning you can get the materials you need from Home Depot and have the flexibility to pay it back over time. Depending on your credit score, you can get anywhere from six to 24 months of 0 percent financing. 

For example, if you finance a $1,000 purchase over 12 months, you’ll need to pay around $84 per month to pay in full. In that same time frame, if you used a regular card with a 29.99 percent APR, you’d pay about $170 in interest while paying $98 per month, for a total repayment of around $1,170. People who do their own projects or manage their own properties may find this feature very handy.

But if you don’t pay the entire balance off by the end of the term, you’ll be responsible for all interest accrued from the date of the purchase.

Welcome offer: Discount on initial purchase

The welcome offer on this card gives a solid discount on your single-receipt purchase. You can get a $25 discount on a purchase of $25 to $299, a $50 discount on a purchase of $300 to $999 or a $100 discount on a purchase of $1,000 or more.

Getting $100 off a $1,000 purchase equates to a 10 percent discount, which is a good value for Home Depot fans compared to what other cards offer on these purchases.

Since the welcome offer is tied to your initial purchase, you’ll want to spend enough to get the maximum discount. If you won’t be spending that much, choose a different option. You could use a flat-rate card like the Citi Double Cash® Card or find a card with the best sign-up bonus that aligns with your regular monthly spending.

Rates and fees: No fees if you pay on time

Home improvement projects can be costly. With no annual fee and the possibility of up to two years of no-interest financing, this can be the best option to finance home repairs and improvements. When you have an expensive project, a card without extra fees can be a big help. As always, you’ll want to make sure you pay the bill on time to avoid potentially expensive interest charges. As with most store credit cards, the ongoing APR is high, meaning if you carry a balance, you’ll pay significant interest, which can quickly erase the value of the initial discount offer.

Why you might want a different store credit card

The Home Depot card’s value significantly diminishes after the first purchase, so you won’t want this card if you’re looking for ongoing rewards or discounts. While you’ll have no interest financing during your term, you’ll be responsible for any deferred interest if you don’t pay the entire purchase off by the end of the term.

Rewards: Earn points with other cards

You won’t earn any rewards with the Home Depot card, so it has no value for spending outside of financing options. This card functions primarily as a no-interest line of credit — if that holds no value to you, look elsewhere.

Many rewards credit cards offer bonuses in the home improvement category that will reward you well for these purchases. If you have ongoing spending needs, these cards will be better options. Home improvement spending can be a sizable expense, so if you don’t need financing, the potential for significant rewards could be more appealing.

Perks: Longer returns, not much else

While not uncommon for store cards, no notable benefits make this card fall short. It extends the window for returning eligible purchases from three months to up to a year, which can be useful when planning long-term projects. A return window of an entire year might also be helpful if a product is faulty within the one-year timeframe. However, these factors aren’t enough to be a decisive reason to get this card.

Deferred interest: high potential for trouble

This card offers deferred interest during the term of the financing offer. This means that while you aren’t responsible for paying interest during that time, interest will still accrue from the date of your purchase. If you pay your balance in full by the end of the term, you won’t owe any interest.

If you don’t pay the purchase amount in full by the end of the financing terms, the card will charge all the accrued interest from the original purchase date. This can be very dangerous because if you can’t pay the bill in full, these charges can begin to compound and can quickly become a massive financial burden. Under no circumstances do you want to find yourself getting hit with deferred interest charges.

How the Home Depot Consumer Credit Card compares to other store credit cards

The Home Depot card is only helpful as a short-term financing product for large Home Depot purchases. Compared to other cards that offer bonus categories and other incentives, this card doesn’t measure up.

Image of The Home Depot Consumer Credit Card

The Home Depot Consumer Credit Card

Annual fee

$0

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

Fair to Good (580 – 740)
Info
Image of Prime Visa

Prime Visa

Annual fee

$0

Intro offer

Get a $100 Amazon Gift Card
Info

Rewards rate

1% - 5%
Info

Recommended Credit Score

Good to Excellent (670 – 850)
Info
Image of Capital One Walmart Rewards® Mastercard®

Capital One Walmart Rewards® Mastercard®

Annual fee

$0

Intro offer

5%
Info

Rewards rate

1% - 5%
Info

Recommended Credit Score

Fair to Good (580 – 740)
Info

Who is the Home Depot Consumer Credit Card right for?

The Home Depot card works best to finance projects when you need extra breathing room to pay it off. Getting the highest discount and longest financing term is the goal when using this card. This especially appeals to people with less-than-ideal credit, as it will also help build credit if used responsibly.

Bankrate’s Take — Is the Home Depot Consumer Credit Card worth it?

This card has one use: financing home improvement projects over time. It has some additional value if you need to build credit, but there is not much else worth it with this card. It is essentially a short-term line of credit.

It has no rewards or additional incentives to spend after the first purchase, outside of financing needs. You’ll also pay expensive fees if you don’t pay off the original purchase within the specified time frame. With so many other cards with better terms, benefits and rewards, this card doesn’t make much sense long-term for many people.

*All information about the Capital One Walmart Rewards® Mastercard® has been collected independently by Bankrate.com and has not been reviewed or approved by the issuer.

How we rated this card

Document
100+
cards rated
Credit Card Apr
400+
APRs tracked
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3000
data points analyzed
Credit Card Reviews
40
perks evaluated

Our proprietary card rating system takes into account a mix of factors when scoring balance transfer and low-interest cards, including each card’s introductory APR, intro APR period length, ongoing APR, balance transfer fee, perks and more.

While balance transfer and low-interest cards share a similar ratings rubric, we weigh features differently based on how a card is categorized. We categorize cards that carry an especially long intro APR offer on balance transfers as dedicated balance transfer cards, while cards that offer an especially low ongoing APR are considered general low-interest cards. 

We analyzed over 100 of the most popular balance transfer and low-interest cards and scored each based on how its key features stacked up against those of other cards in its category. 

Here’s a breakdown of what gave this card its score:

Frequently asked questions

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.