Anyone use a Home Depot or Lowes Commercial Credit Card

Rehabbing & House Flipping
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Anyone use a Home Depot or Lowes Commercial Credit Card

Prashant P.
Real Estate Investor · Philadelphia, PA · Member since 2010 · 283 posts · 81 votes

I am starting a new rehab and was considering applying for a Home Depot commerical credit card. The reason was two fold. The first being I can build credit for my LLC. The second being I could use any financing deals they offer.

Anyone have any expierence with a Lowes or HD credit card. Are there any better options?

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Dusty Bowling
Wholesaler · covington, IN · Member since 2012 · 38 posts · 10 votes
13y

I'm a new guy to the site but here is what I've learned over the past few years flipping exclusively with my cards.
1. all 3 stores will match each other all you have to do is ask. That includes credit offers, 0 percent interest for 18 months, 5 percent off over 299 just ask before paying
2. always use 10% coupons, all 3 stores will match, you can buy these off ebay for around 1.00 a piece just enter lowes discount coupon.
3. home depot has a paint contractor club. It starts at 10% off and the more you spend on in paint in a year it goes up. I believe up to 30% off. All you have to do is ask the service desk to put you on the list, and make sure when you check out tell them you are in the contractor club.
4. Menards offers free local delivery to contractors if you spend over 1,000. All you have to do is sign up for a contractor account which is free. All 3 stores will match this just tell them prior to paying.
5. If your credit cards do run over the promotion period and you get stuck with 25% of back interest back to the beginning of purchase, all offer 1 month grace autoamtically if you pay off in full. If you call even months after you were hit with 25% interest I have been able to negotiate a complete payoff with the interest waived by just claiming ignorance and having no clue I was going to be charged with all the interest.
The number one is always use 10% off coupon I found it crazy that local contractors in business for years were not using this. They were spending 1,000's weekly on material and losing 10%!!!!
Hope this helps I know it's saved me a small fortune

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  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    13y

    I use both and make them wait to the last day for free money, but if you don't payoff the promotions as due, watch out, interest is charged from the day of purchase, so pay it off in full!

    3Reply
  • Amie D.
    SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    13y

    I use their consumer cards for the 5% off all purchases, which I believe applies for the business cards as well. Home Depot doesn't officially offer this benefit - but many people don't know that they do offer it through a price match as well - but you have to ask for it. And yes they do have promotions they send out to card members, I think it is a good idea if you use them as a main supplier.

    1Reply
  • Steven Hamilton IIPro Member
    Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
    13y

    Prashant P.,

    I use both. I use the consumer card for no interest situations, and I use the commercial card for daily purchases that are not over $299. As Amie D. said, you have to know to ask for the 5% off that they match to what Lowes offers their contractors. I typically am using a 10% off coupon so I don't get the 5% off; however, I have had a few cashiers ring me up with 15% off :D I'm a shrewd negotiator.

    -Steven

    [email protected]224-381-2660
    0Reply
  • Mike H.
    Rental Property Investor · Manteno, IL · Member since 2009 · 2k+ posts · 2k+ votes
    13y

    The menards contractor card is decent too. The card itself gives you instant 2% off all purchases (including sale prices) and 2% store rebate (although they don't give you this til the end of the year).

    Plus Menards offers additional discounts as well depending on the materials you buy - an additional 2 to 5% typically.

    Sounds like Lowes is a bit better and I always use their card for the carpet discount. But materials tend to be a bit cheaper at menards so I buy more from them.

    0Reply
  • Steven Hamilton IIPro Member
    Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
    13y

    Mike H.,

    I get my carpet at wholesale cost because I know a guy. Lowes' prices are a bit higher near me and I'm not fond of their stores. Menards is my preferred place to shop.

    -Steven

    [email protected]224-381-2660
    0Reply
  • Mike H.
    Rental Property Investor · Manteno, IL · Member since 2009 · 2k+ posts · 2k+ votes
    13y

    Ah, the proverbial "I know a guy". My electrician knows a guy for just about everything on the planet. Hes amazing. Yea. Lowes is a bit more expensive but the $75 whole house install is just tough to beat.

    Not to mention the fact that when I first started and tried to get installers lined up, they were never very reliable for me. With Lowes, they have to do it in a certain period of time and I can yell at somebody if they don't. :-)

    1Reply
  • Aaron McGinnis
    Contractor · Atlanta, GA · Member since 2008 · 978 posts · 985 votes
    13y

    Step 1: Get a HD or Lowes commercial account

    Step 2: Spend an absolutely ridiculous amount of money in a stupidly short period of time.

    Step 3: Get called by the super squirrel secret regional manager and given the construction illuminati decoder ring.

    Step 4: Bypass the big box store entirely and go to the wholesaler.

    Yes, Virginia - the secret handshake is real.

    And my non-smartass answer is: It's worth it to get the discount. For an even bigger discount, get a cash back credit card and pay off your lowes/HD account with said credit card.

    The BIGGEST reason to get an account is invoice tracking. Say goodbye to tracking individual receipts - every single SKU that you buy goes online... this is true for both HD and Lowes.

    It's also super helpful to be able to hand your key players a charge card and stop having to do endless phone sales (Which take FOREVER if there's a line)

    IMO, it's a lot more helpful than having a business CC with employee cards... wrangling receipts is never, ever fun or easy when you're dealing with a process that may entail several trips a day to various stores.

    I also encourage the use of gas account cards for underlings for the same reason - they report every dime spent to your online account.

    3Reply
  • Will BarnardPro Member
    Moderator
    Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
    13y

    I use them both. Just keep in mind they will want you personally responsible on any business account application.

    The Lowes 5% off if you use the card is good, but if you buy enough stuff, you should be arranging for at least 10% off, not 5%.

    Podcast Guest on Show #130
    0Reply
  • Amie D.
    SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    13y

    Yeah at the contractor/pro desk you can get bigger discounts if you are buying things en masse. This doesn't always apply as many times there's a one off item you need here and there but just keep it in mind.

    Mike H., Steven Hamilton II, I left Menards behind when I left the Midwest. If I had one near me, I'd shop there the most too.

    0Reply
  • Mike G.
    Rehabber / Flipper · Simi Valley, CA · Member since 2010 · 597 posts · 259 votes
    13y
    Originally posted by Aaron McGinnis:
    For an even bigger discount, get a cash back credit card and pay off your lowes/HD account with said credit card.

    Brilliant. I'm going to start doing this.

    Also, another advantage of having the Lowe's card is a discounted delivery fee (and maybe rental truck fee as well).

    0Reply
  • Robert AdamsBusiness Member
    Real Estate Broker · Henderson, NV · Member since 2009 · 1k+ posts · 373 votes
    13y

    No but I had some identity theft about 8 years ago an the person used my info to get credit cards from home depot, circuit city, wal mart, and about 3 or 4 other places. Then they used those cards to purchase gift cards. Took me several months to clear it all up. Major pain in the a$$.

    [email protected]702-349-9175
    The Adams Team at Rothwell Gornt Companies4.971 Reviews
    WebsiteView Page
    0Reply
  • Aaron McGinnis
    Contractor · Atlanta, GA · Member since 2008 · 978 posts · 985 votes
    13y
    Originally posted by Mike G.:
    Originally posted by Aaron McGinnis:
    For an even bigger discount, get a cash back credit card and pay off your lowes/HD account with said credit card.

    Brilliant. I'm going to start doing this.

    Also, another advantage of having the Lowe's card is a discounted delivery fee (and maybe rental truck fee as well).

    Ask me how I pay Christmas bonuses at the end of the year... yeah, it's with my Chase Visa that gets really ungodly amounts of use.

    I've often said that if I could buy a house with my credit card (and not have ridiculous cash advance fees), I'd do it in a heart beat... just for the cash back points.

    1Reply
  • Kyle Hipp
    Investor · Appleton, WI · Member since 2012 · 1k+ posts · 464 votes
    13y

    I go to Menards for 95% of my needs. I have their big card and as previously mentioned, 2% back on everything and a annual bump with the contractors club which I qualified for under the property management heading as I manage all my properties. The best thing I love about Menards is that they habe about 4 11% off everything sales every year. Last year I bought a house in the spring and bought siding, gutters, roofing, lumber, lights, dishwasher, prolly 80% of my materials and got a rebate chexk of nearly $500. Later in the year when it came up again and I bought a garage on the 11% rebate. I should have a decent check coming from the cards, annual 2% rebate.

    On top of that Menards is huge in my area of wisconsin. There is a Lowes, Home Depot and Menards within a square mile of each other and every time no matter when Menards is always packed. The few times I have gone to Lowes or Home Depot, I always get a front row spot because it is so dead. Wierd...

    0Reply
  • Randy F.
    Contractor · Anchorage, AK · Member since 2012 · 351 posts · 196 votes
    13y

    With the Lowes card you get the 5%, and on orders over $2500 you can submit the order for approval for an additional up to 10 percent off. I have them hold countertops and the like in "will call" so stuff isnt on the job in the way till Im ready for it. I make the purchases and then can send guys in to grab materials out of will call. I have them look everything over well and if its scratched or damaged just change it out. If the powers that be knew what I was doing they may not like it, but the employees think nothing of it. I figure they owe me anyway, for all the direction and advice I always seem to be giving their other customers!O

    3Reply
  • Prashant P.
    OP
    Real Estate Investor · Philadelphia, PA · Member since 2010 · 283 posts · 81 votes
    13y

    Thanks for all the replies. I check out both but am leaning more toward Lowes.

    Any preference towards a business credit card. I see American Express has alot of deals.

    0Reply
  • Rick L.
    Investor · Saint Louis, MO · Member since 2013 · 198 posts · 25 votes
    13y

    "For an even bigger discount, get a cash back credit card and pay off your lowes/HD account with said credit card."

    Forgive my ignorance, but how do you do this exactly? TIA!

    0Reply
  • Amie D.
    SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
    13y

    Steven Hamilton II, you are a shrewd negotiator, I went to Lowe's last night and remembered what you said... tried to stack it but only got the 10% :)

    0Reply
  • Bobby Gerry
    Lender · Houston, TX · Member since 2012 · 83 posts · 69 votes
    13y

    If you are going to Home Depot make sure that you get in the paint discount program too. It's probably the same thing as the contractor's discount, but at one Home Depot one of the folks there has me in some specific paint discount program.

    Also sometimes at different Home Depots they have to spend a while looking me up in their computers. Not sure why the contractor discount isn't just standard across all the stores. I mean sometimes it seems that some stores are better at giving the discounts than others.

    0Reply
  • George P.
    Property Manager · Livonia, MI · Member since 2011 · 4k+ posts · 1k+ votes
    13y

    i go to HD 99.99% of the time. the times i do go to Lowes, i get frustrated that i can't find what i am looking for, or it's too expensive. HD has the right balance between price and quality.

    They are building Menards across my HD, so will check it out when finished.

    I use to have HD card years ago. i hated it.

    i use AMEX and get Delta Airlines points. I also get one companion ticket free each year, which is always a perk.

    Had AMEX Cash back and hated it. did ont think it was a good card.

    Lowes is too expensive in my opinion. but i did use their coupons at HD.

    0Reply
  • Dusty Bowling
    Wholesaler · covington, IN · Member since 2012 · 38 posts · 10 votes
    13y

    I'm a new guy to the site but here is what I've learned over the past few years flipping exclusively with my cards.
    1. all 3 stores will match each other all you have to do is ask. That includes credit offers, 0 percent interest for 18 months, 5 percent off over 299 just ask before paying
    2. always use 10% coupons, all 3 stores will match, you can buy these off ebay for around 1.00 a piece just enter lowes discount coupon.
    3. home depot has a paint contractor club. It starts at 10% off and the more you spend on in paint in a year it goes up. I believe up to 30% off. All you have to do is ask the service desk to put you on the list, and make sure when you check out tell them you are in the contractor club.
    4. Menards offers free local delivery to contractors if you spend over 1,000. All you have to do is sign up for a contractor account which is free. All 3 stores will match this just tell them prior to paying.
    5. If your credit cards do run over the promotion period and you get stuck with 25% of back interest back to the beginning of purchase, all offer 1 month grace autoamtically if you pay off in full. If you call even months after you were hit with 25% interest I have been able to negotiate a complete payoff with the interest waived by just claiming ignorance and having no clue I was going to be charged with all the interest.
    The number one is always use 10% off coupon I found it crazy that local contractors in business for years were not using this. They were spending 1,000's weekly on material and losing 10%!!!!
    Hope this helps I know it's saved me a small fortune

    4Reply
  • George P.
    Property Manager · Livonia, MI · Member since 2011 · 4k+ posts · 1k+ votes
    13y

    dusty, not to hijack the thread, but my coupon guy increased his prices to $5 per coupon. all ebay coupons have increased.

    0Reply
  • Don Hines
    Investor · Little Rock, AR · Member since 2010 · 628 posts · 251 votes
    13y
    Originally posted by George P.:
    dusty, not to hijack the thread, but my coupon guy increased his prices to $5 per coupon. all ebay coupons have increased.

    Mine ran out for about a month!!

    Anyone else ever use the lowes contractor card? I just got a letter that my account was closing next month and I am invited to open a consumer account. I read the details, it is similar to HD account.
    Don

    0Reply
  • George P.
    Property Manager · Livonia, MI · Member since 2011 · 4k+ posts · 1k+ votes
    13y
    Originally posted by Don Hines:
    Originally posted by George P.:
    dusty, not to hijack the thread, but my coupon guy increased his prices to $5 per coupon. all ebay coupons have increased.

    Mine ran out for about a month!!

    Anyone else ever use the lowes contractor card? I just got a letter that my account was closing next month and I am invited to open a consumer account. I read the details, it is similar to HD account.
    Don

    mine ran out too, then he said that "all coupon providers are up to $8 per coupon". but he has coupons now.

    i just dont want to spend $100 to save $5. i guess it's better than nothing...

    0Reply
  • Don Hines
    Investor · Little Rock, AR · Member since 2010 · 628 posts · 251 votes
    13y

    I don't use mine for less than $100 purchases.
    don

    0Reply
  • Mike G.
    Rehabber / Flipper · Simi Valley, CA · Member since 2010 · 597 posts · 259 votes
    13y
    Originally posted by Don Hines:
    I don't use mine for less than $100 purchases.
    don

    Yeah, exactly, and that's when it's nice to have the card for at least 5% off.

    1Reply
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