Verdict: This card has an extremely high standard APR and offers no benefits for anyone that doesn’t frequently spend large amounts at Home Depot. This card is ideal for people that make large purchases at Home Depot and use the 6 months no payments and interest to pay the balance in full.

Overview:
The Home Depot credit card is a store card good only at Home Depot and homedepot.com. The card has no travel or shopping benefits of any kind and has a very high APR. This card is not very useful for the average consumer.

How This Card Works:
This card is good only at Home Depot and homedepot.com. The APR is extremely high, and according to the website, only half of applicants will qualify for a standard rate of 25.99%. This card entitles the cardholder to six months of no payments or interest on all purchases above $299 all the time.

Travel and Shopping Benefits:
This card has no travel and shopping benefits, other than six months of no payments and interest for purchases at Home Depot that are above $299.

Fees:
APR varies between 17.99% and 26.99%. According to the Home Depot website, less than half of the people that apply for this card will qualify for a rate less than 25.99%. The default rate is 29.99%. The minimum finance charge is $1 and the grace period is 20 days. The late fee is $20 for balances up to $100, $30 for balances between $100 and $500, $35 for balances between $500 and $1,000, and $39 for balances higher than $1,000.

Pros:

• Always receive 6 months of no payments and no interest on all purchases above $299.
• No annual fee.
• Special promotions.
• Online account management.

Cons:

• Very high APR.

(3 votes, average: 2.00 out of 5)

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