You can support our channel by choosing your next credit card via one of the links below (in other words, we make money if you get approved): [Click "Read More" for Advertiser Disclosure] . - CardMatch™: rebrand.ly/p70ubk - Cash Back Credit Cards: rebrand.ly/8tz84x - Travel Rewards Credit Cards: rebrand.ly/27jk4y - Credit Cards For Good Credit: rebrand.ly/yi47oz - Credit Cards for Fair Credit: rebrand.ly/956h4w - Or, use our Amazon.com link: amzn.to/2PpQWoB . ADVERTISER DISCLOSURE: Unless otherwise noted, this channel receives compensation from our partner sites when you click through and are approved for a credit card through the links you see above. Compensation may impact how and where we place these links. While we try to include information on a wide variety of financial companies and products in our videos, we definitely can't guarantee that we've included every company or every available offer. NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
Yesterday I went to Home Depot to make a purchase and when I went to check out the card didn’t go through. So the lady that was standing there told maybe you owe some money and they closed the account so I said shit no, I don’t owe anything then she told me well, maybe you didn’t use the card so they closed the account!!! When I called customer service I said, nobody told me I had to use as otherwise they would close the account!!! “NO GOOD CUSTOMER POLICY”
A key distinction between HD and Lowe's: A big discount on the first purchase vs 5% off every purchases. I can get 5% off HD purchases using the Discover card at a certain time of the year.
2 роки тому+1
Plus, HD is generally cheaper than L for the same exact things anyway. I also have Discover too! Got the cassette tape style and marked it with 'Mix tape Vol.4' (bonus pts if you get the reference ;D )
The problem with the home depot project loan is that they structure almost half of their interest payments to be paid during the interest only period. Interest only payments is calculated as 2% of the outstanding purchases monthly for the first 6 months, which is 24% annualized interest rate. for a $30K purchase, that is $600 in interest payments monthly for the first 6 months or $3,600 of interest already paid before amortizing begins. that is roughly half of the interest payments over the term of the loan. So even if you plan to pay it off early, they still made boat load of interest off of you.
What's the point in getting a card if you aren't going to use it? These credit card companies are getting wiser to people opening up lines of credit to reduce their utilization rate with no intent on using in the first place This isn't always the case but trust me they know the game I offer small contractors with no credit 14 day loans on material so they can complete projects Run it up but pay off before 30 days
Say otters, rock trolley I even paying 6 months they still is coming sending extra 60 for like after you pay off that credit card I don't recommend to nobody else commerce see by City Bank
I work for home depot u can just go cashier and ask them pay ur blance on ur cedit card and u can pay cash , debit card, or check . No cedit with cedit payments
Adam, I looking for some advise, I'm currently at 5/24 but will be getting back to 4/24 in November and then 3/24 in June. I was wondering what chase card should I try. I currently have Freedom U, Freedoom Flex, CSP, and World of Hyatt.
I've been going to home depot pretty often after purchasing a home. I though i might have missed out on rewards or something by not having a card. Thanks for the clarification.
Lowes is more expensive than Home Depot generally. So even with a daily discount with a credit card you’re probably paying the same amount that you would be paying at Home Depot is regular price. When you think of it that way there really is no difference between getting a discount at Lowe’s and just going to Home Depot.
Great video. I buy a ton of stuff at Home Depot for my business and was thinking about getting this card if it offered discounts on everyday purchases. Thanks for helping me decide on a hard pass.
I went online and applied for this card a month ago, I was approved for the Home Depot/Citibank store card with an initial credit limit of $500. My score was 629 on Experian
Got approved for the card yesterday for a 3k limit with mid 600 scores. Not a fan of store cards but was in dire need of new washer/dryer and with the promotion of 100 dollars off first purchase not complaining. Card will get put in the sock drawer once it comes in the mail.
A little disappointing... More like a lot! Really a worthless card but anyone who has a house and doesn't have a Lowe's near by needs this just in case of house emergency. Lowe's is way better.
You can support our channel by choosing your next credit card via one of the links below (in other words, we make money if you get approved): [Click "Read More" for Advertiser Disclosure]
.
- CardMatch™: rebrand.ly/p70ubk
- Cash Back Credit Cards: rebrand.ly/8tz84x
- Travel Rewards Credit Cards: rebrand.ly/27jk4y
- Credit Cards For Good Credit: rebrand.ly/yi47oz
- Credit Cards for Fair Credit: rebrand.ly/956h4w
- Or, use our Amazon.com link: amzn.to/2PpQWoB
.
ADVERTISER DISCLOSURE: Unless otherwise noted, this channel receives compensation from our partner sites when you click through and are approved for a credit card through the links you see above. Compensation may impact how and where we place these links. While we try to include information on a wide variety of financial companies and products in our videos, we definitely can't guarantee that we've included every company or every available offer.
NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
Love the Pre Qualification tool on the app, more banks should use it!
I wanted the consumer card but my recipt says home introvert card what do i do?
What about credit limit increase? Anybody know anything? Is it hard inquiry for CLI ? Are they generous on CLI?
Yesterday I went to Home Depot to make a purchase and when I went to check out the card didn’t go through.
So the lady that was standing there told maybe you owe some money and they closed the account so I said shit no, I don’t owe anything then she told me well, maybe you didn’t use the card so they closed the account!!!
When I called customer service I said, nobody told me I had to use as otherwise they would close the account!!!
“NO GOOD CUSTOMER POLICY”
They lower your limit also all the time. My buddy went from 2500 to 500. Lol
A key distinction between HD and Lowe's: A big discount on the first purchase vs 5% off every purchases. I can get 5% off HD purchases using the Discover card at a certain time of the year.
Plus, HD is generally cheaper than L for the same exact things anyway. I also have Discover too! Got the cassette tape style and marked it with 'Mix tape Vol.4' (bonus pts if you get the reference ;D )
The problem with the home depot project loan is that they structure almost half of their interest payments to be paid during the interest only period. Interest only payments is calculated as 2% of the outstanding purchases monthly for the first 6 months, which is 24% annualized interest rate. for a $30K purchase, that is $600 in interest payments monthly for the first 6 months or $3,600 of interest already paid before amortizing begins. that is roughly half of the interest payments over the term of the loan. So even if you plan to pay it off early, they still made boat load of interest off of you.
Don't bite off more than you can chew I suppose 🧠👍
Do I have to always use the card? Or can I use it once a year?
they closed mine after nonuse
They also closed mine after nonuse.
What's the point in getting a card if you aren't going to use it?
These credit card companies are getting wiser to people opening up lines of credit to reduce their utilization rate with no intent on using in the first place
This isn't always the case but trust me they know the game
I offer small contractors with no credit 14 day loans on material so they can complete projects
Run it up but pay off before 30 days
Once a year is good
Say otters, rock trolley I even paying 6 months they still is coming sending extra 60 for like after you pay off that credit card I don't recommend to nobody else commerce see by City Bank
Project loan card 5:22
Can you use the project loan credit card to pay contractors that are affiliated to home depot?
right
What credit score do you have to have for that project loan? 🤔
Whats the credit score needed for the project card? I don't think you said it.
730ish, I was approved for 27000
Yeah I just canceled the credit card that's that I paid off but they are really sucks there's cameras
Please could anyone tell me how to pay the credit card bill? It is so hard to user
I work for home depot u can just go cashier and ask them pay ur blance on ur cedit card and u can pay cash , debit card, or check . No cedit with cedit payments
@@natmazon7807 thank you very much that thing stressed me out for days lol, couldn't figure out how to pay the debt
Im a authorize user to a home depot consumer credit card. But Citi never reported to credit bureaus. Help
Adam, I looking for some advise, I'm currently at 5/24 but will be getting back to 4/24 in November and then 3/24 in June. I was wondering what chase card should I try. I currently have Freedom U, Freedoom Flex, CSP, and World of Hyatt.
I don't know. Do you need another Chase card?
I've been going to home depot pretty often after purchasing a home. I though i might have missed out on rewards or something by not having a card. Thanks for the clarification.
Amazingly clear and helpful video, thank you good sir
What would you buy
a pool
Lowes is more expensive than Home Depot generally. So even with a daily discount with a credit card you’re probably paying the same amount that you would be paying at Home Depot is regular price. When you think of it that way there really is no difference between getting a discount at Lowe’s and just going to Home Depot.
Everyone knows deep down Homedepo is the best! 😂
I work at home depot dot denied twice my credit was over 700 Lost 40 points ! Tried it in store and got approved
Great video. I buy a ton of stuff at Home Depot for my business and was thinking about getting this card if it offered discounts on everyday purchases. Thanks for helping me decide on a hard pass.
If you can afford the 0% financing you should be getting cashback.
So you basically get no rewards which sucks too cause the amount of money I’ve spent on Home Depot I thought I was loaded in rewards.
Its a bummer the H.D cards got no rewards. Not to dump on the good people at Citi but i have no luck with them
I went online and applied for this card a month ago, I was approved for the Home Depot/Citibank store card with an initial credit limit of $500. My score was 629 on Experian
Ouch
Mine was 670 and I got a $5,000 credit limit so I’m thinking what he said about the 650 is probably true.
The lowes cc seems better 5% discount
I got it yesterday. So disappointing. I wish I had watched your video on it
Got approved for the card yesterday for a 3k limit with mid 600 scores. Not a fan of store cards but was in dire need of new washer/dryer and with the promotion of 100 dollars off first purchase not complaining. Card will get put in the sock drawer once it comes in the mail.
Yeah then it'll hit your credit if they close it for nonuse.
PROTIP: a quick call to the home depot credit department would give u a better segment on the Project Loan CREDIT CARD! ;)
What do you mean?
Lowe’s here I come !! Lol
A little disappointing... More like a lot! Really a worthless card but anyone who has a house and doesn't have a Lowe's near by needs this just in case of house emergency. Lowe's is way better.
5% better!
False.