Home Depot Credit Card Review | CreditShout

Home Depot Credit Card Review

By Kevin / March 31, 2012
Review of Home Depot Store Credit Card


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home depot credit card analysis

Will the Home Depot credit card help you to start doing those home improvement projects you dream about? Or will it leave you wondering if all your money was spent on fees and interest charges.


The Home Depot store 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.

There is a downside though. This store credit card has an extremely high standard APR and offers no benefits for anyone that doesn’t frequently spend large amounts at Home Depot.

Home Depot Card Overview

The Home Depot credit card is a store card good only at Home Depot and homedepot.com.

The one benefit of this card versus any other credit card is that Home Depot will provide you six months of interest free and payment free financing on all purchases over $299.

Besides that, the card has no travel or shopping benefits of any kind. And it has a very high APR.

Since this is a true store card, it is not very useful for the average consumer. However, contractors, home improvement enthusiasts, and those making an emergency appliance replacement may benefit from the financing options offered by the Home Depot card.

If you want to compare Home Depot’s store credit card to Lowe’s store card, you can read our review of the Lowes credit card here.

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%.

The biggest benefit of the Home Depot card is the financing terms you can get by using it. This card entitles the cardholder to six months of no payments or interest on all purchases above $299 all the time.

If you are looking to finance a large purchase at the Home Depot (such as an appliance, vanity or some other home improvement item), this card may work for you. However, be advised that there are a ton of great rewards cards offering introductory 0% APR financing on new purchases for periods of 12 to 21 months.

The benefit of the Home Depot card versus a zero percent APR welcome offer is that with the Home Depot card you actually do not have to make any payments for the first six months. With other cards, even though you will be incurring no interest, you will have to make at least the minimum monthly payment.

Be aware that whenever you use any credit card financing offer, if you do not pay the balance subject to the offer in full by the end of the offer period, you will be charged interest back to the date the purchase was made! So make sure you pay your balance off before the great financing offer expires.

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.


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.

The Bottom Line

As a general rule of thumb, we usually recommend avoiding store branded credit cards altogether. If you want to earn rewards, most people will be better off applying for a general cash back card to use everyday. You can check out our Guide to the Top Cash Back cards by clicking here.

However, if you are buying an expensive item or doing a project with the Home Depot, and would like to pay for it six months later for the exact same price, then this card works like a charm.


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


  • Very high APR.
  • No rewards program.
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site


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