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Now that we have looked briefly at the main differences between the Home Depot's best credit cards for businesses, let's look at some of the advantages and benefits that are found among both options. Banks offer promotions like these because they know that consumers will have every intention of paying the balance long before the promotional period ends, but many will not. If you don’t have a history of consistently paying your credit card balances in full at the end of the month, it’s best to steer clear of promotional offers like these. If you choose to receive statements electronically and then want a paper notice, call us at the number on the back of your card and we will mail it to you. We will send notifications regarding the availability of your statement online and legal notices to the email address you provided to us until you contact us to change it. It is your responsibility to update promptly any changes in this information.
Our partners cannot pay us to guarantee favorable reviews of their products or services. A small business looking to make some building improvements or a small construction company may enjoy the numerous benefits of commercial Home Depot credit. On the other hand, a small tech startup navigating the ever-growing e-commerce economy may not have the need.
Cardholders have two payment options: 30-day term or 60-day term
However, the Pro Xtra Card works more like a credit card, as it gives cardholders the option of either making low monthly payments or paying the credit balance in full every month. If you’re not a contractor receiving discounts or benefits for brand loyalty, then many individuals may instead opt to shop at Lowe’s—one of the major Home Depot competitors. Lowe’s offers a consumer store-only card too, as well as cards for contractors. The Lowe’s credit card, also called the Lowe’s Advantage Card, comes with an APR of 26.99% and an introductory rate of 7.99% for 84 months on purchases above $2,000. Home Depot also offers commercial cards for contractors and businesses. Its commercial cards include a commercial charge card and a commercial line of credit account .
For professional customers in need of a commercial account, Home Depot offers commercial accounts without many of the gimmicky Pro Xtra program perks. Even if you don't take advantage of the deferred interest offer, you'll want to avoid carrying a balance from month to month. As with many store-branded credit cards, the ongoing interest rate can be quite high. Home Depot offers a credit card for individual consumers, as well as various commercial and contractor cards.
Commercial Account
In particular, Home Depot is offering free stain and 5% statement credit for certain pergolas and pavilions, as well as up to $500 off and 5% statement credit for particular sheds and garages. A commercial account does allow for authorized users to make charges to the card on behalf of your business by issuing buyer ID cards to each user. Employers can also set spending limits and receive detailed spending info to keep track of all purchases made. Though payments must be made in full within 60 days of purchases made on this card, there is an offer to receive a 2% early pay discount as long as payment is made online within 20 days of purchase. There are many reasons businesses choose to use retail and in-store credit cards, including keeping spending of personal funds to a minimum. One advantage, especially for small businesses and startups, is building a business credit history.
It also has special offers that include initial statement credits and promotion discounts for certain products. The starting annual percentage rate is 7.42% (for the six-month payback) and the card comes with no perks. Although the interest rate is much more attractive than the one on the consumer credit card, if you wait the full 84 months to pay the balance, your project becomes substantially more expensive. If you’re planning a large renovation or building project, Home Depot has a project loan credit card with credit lines of up to $55,000. This card comes with no annual fees, up to 84 months to pay the balance in full, and a six-month buying window to purchase products.
Where Can I Use My Home Depot Credit Card?
As with most store credit cards, the credit needed is generally fair to good. If you choose to receive legal notices and statements electronically and then want a paper notice, call us at the number on the back of your card and we will mail it to you. Still, unlike many store-branded credit cards, there are no ongoing rewards for in-store purchases. Other than the special offers, don’t expect any perks like rewards points or cash back with this card. If you use a credit card responsibly, a card that offers cash back or rewards points might be a better option than a store card unless the promotional offers are appealing to you.
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This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions.
I understand that when I receive an electronic notice it will replace a paper copy. I also understand that I will need to check both my U.S. postal mailbox and email inbox for legal notices until you let me know by email that all legal notices will be sent electronically. I agree to receive my billing statements and other legal notices electronically as available. Another benefit that comes with both commercial credit options is a fuel rewards program, but commercial card members must enroll separately; card members are not automatically enrolled in the program. Benefits and fuel savings are based on qualifying purchase amounts. You are agreeing to receive some of your legal notices electronically only.
The card issuer will determine your purchase APR or other applicable terms specific to the product for which you apply based on your creditworthiness. You can pre-qualify on the Home Depot website to gauge the likelihood of your approval and what terms you may be given. We can electronically provide you the To get these electronically your device must be capable of printing or storing web pages and/or PDFs and your browser must have 128-bit security. If you want to request a paper copy of these disclosures you can call The Home Depot® Consumer Credit Card at and we will mail them to you at no charge. Itemized billing statements are available to cardmembers, allowing them to track purchasing by purchase order numbers, job names, or job numbers.
Performance information may have changed since the time of publication. And other Home Depot branded, co-branded or store products online, but you can also apply in person at any Home Depot store. Since eligibility is based on creditworthiness, a credit check will be run before approval is granted and approval is not guaranteed.
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