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Home Depot Consumer Credit Card: BiggerPockets Review

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Real estate investors may benefit from the Home Depot Consumer Credit Card’s interest deferral and promotional program benefits if they are undergoing a large rehab project and wish to stretch their capital over a longer timeline. Cardholders should be aware that the interest accrued will be due in full at the end of the deferment window (if not previously paid off), and should time their purchases and projects accordingly.  

The Home Depot Consumer Credit Card is designed to help institute a payment plan for larger purchases made at Home Depot. Though this is not a rewards card, the Consumer Credit Card, which is backed by Citibank, offers a six month (or more) deferral of interest on purchases over $299. Minimum payments are required and late fees on those payments may be charged, but interest is only realized at the end of the deferral timeline. 

Real estate investors undergoing a tightly-timed rehab project may benefit from using the Home Depot Consumer Credit Card. For instance, those who anticipate a quick flip may find it easy to pay off their card balance with profits from the sale. In that way, investors may choose to utilize the card’s interest deferral as a line of credit when timed carefully to avoid interest realization at the end of the deferral period.


Quick facts

  • Accepted only at the Home Depot
  • Six month interest deferral on purchases over $299
  • Limited time promotional discounts and incentives for card members
  • Increased return window policy (one year)
  • Up to $100 sign-up bonus 


PROS

  • Six month interest deferred credit on purchases of $299 or more
  • No annual fee
  • Signup discounts 
  • Extended return policy of one year 
  • Regular promotions and extra savings for cardholders

CONS

  • Complete interest realized if balance is not paid off in full by end of the deferral window
  • No introductory APR
  • Credit limit may be as low as $500
  • No cash back or points rewards
  • Only accepted at Home Depot  


The stats

  • APR: 17.99% to 26.99% based upon individual creditworthiness 
  • Annual fee: None
  • Late fee: $40
  • Balance transfer fee: Not applicable (this card is exclusively for Home Depot purchases)
  • Cash advance fee: Not applicable (this card is exclusively for Home Depot purchases)

Credit requirements

Though not explicitly specified by the company, reports indicate that a fair credit score (between 640 and 699) is acceptable when applying for the Home Depot Consumer Credit Card. Those with lower credit scores will likely be subject to a higher APR and a lower line of credit.  


The rewards

The Home Depot Consumer Credit Card is not a reward-bearing card in the traditional sense of the term. The basis of the card’s benefits centers around the interest deferral perk, but it is also enhanced by certain promotional benefits. For example, when using the Home Depot Consumer Credit Card, buyers may enjoy limited-time discounts such as 10% off of fencing or 12 months interest deferral on air conditioners. Card members also enjoy a longer return window of one year on most items, which is four times greater than the normal return policy.

Current sign-up bonus

When signing up for the Home Depot Consumer Credit Card, applicants can currently benefit from a tiered discount on a single receipt purchase made within 30 days of account opening. The discount breaks down as follows:

  • $25 discount on a $25 to $299 purchase
  • $50 discount on a $300 to $999 purchase
  • $100 discount on a $1000 or more purchase
Some exclusions apply, including tool rentals, installation services, gift cards, and certain brand name items. 


What BiggerPockets users say

Some BiggerPockets members have successfully used the Home Depot Consumer Credit Card to help finance home improvement projects on their real estate investments. They’ve found the interest-deferred financing to be beneficial in stretching their renovation budgets across a longer timeline. A few investors even employ a strategy of paying off the Home Depot Consumer Credit Card with another card that offers rewards on balance transfers, thus increasing their benefits. Threads can be found here and here

However, not all cardholders have had a positive experience with the Home Depot Consumer Credit Card. Online reviews outside of the BiggerPockets network report issues with interest accrual, payment allocation, and customer service. As always, applicants are advised to read contracts carefully and, if possible, talk to other cardholders before signing up for any credit card.   

Our editorial team’s recommendations are a result of their independent and vigorous research. Our writers and editors are never made aware of which companies have established partnerships with our business team prior to writing their reviews.