Home Depot Credit Card Review 2023 - Home Depot Consumer + Project Loan Home Improvement Mastercard
Вставка
- Опубліковано 25 сер 2024
- Support our channel by choosing your next credit card using one of the card links at:
- BEST: www.proudmoney...
- CASH BACK: www.proudmoney...
- TRAVEL: www.proudmoney...
- BONUS: www.proudmoney...
- BALANCE TRANSFER: www.proudmoney...
- GAS: www.proudmoney...
- BEST AMEX CARDS: www.proudmoney...
- BEST CHASE CARDS: www.proudmoney...
- BEST CITI CARDS: www.proudmoney...
- BEST CAP ONE CARDS: www.proudmoney...
- BUSINESS: www.proudmoney...
- FAIR CREDIT: www.proudmoney...
- BAD CREDIT: www.proudmoney...
(We'll get compensated if you're approved, and we thank you kindly.)
Other ways to support this channel:
- Get a $25 - $325 bonus when you open a SoFi Checking/Savings Account at: www.sofi.com/i...
- Use our Amazon.com link: amzn.to/2PpQWoB (As an Amazon Associate, we earn from qualifying purchases.)
.
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to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video.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!
.
Our site: www.ProudMoney...
Contact: Adam Jusko adam@proudmoney.com
(for business/media inquiries only; unfortunately I do not have the time to offer thoughtful answers to the many individual credit & money questions I get by e-mail --- but I do read them and try to incorporate answers to common questions into future videos!)
#creditcards #homedepot
Support our channel by choosing your next credit card using one of the card links at:
- BEST: www.proudmoney.com/best-credit-cards-on-the-market/
- CASH BACK: www.proudmoney.com/best-cash-back-credit-cards/
- TRAVEL: www.proudmoney.com/best-travel-credit-cards/
- BONUS: www.proudmoney.com/best-credit-card-bonus-offers/
- BALANCE TRANSFER: www.proudmoney.com/best-balance-transfer-credit-cards/
- GAS: www.proudmoney.com/best-gas-credit-cards/
- BEST AMEX CARDS: www.proudmoney.com/best-american-express-credit-cards/
- BEST CHASE CARDS: www.proudmoney.com/best-chase-credit-cards/
- BEST CITI CARDS: www.proudmoney.com/best-citi-credit-cards/
- BEST CAP ONE CARDS: www.proudmoney.com/best-capital-one-credit-cards/
- BUSINESS: www.proudmoney.com/best-business-credit-cards/
- FAIR CREDIT: www.proudmoney.com/credit-cards-for-fair-credit/
- BAD CREDIT: www.proudmoney.com/best-credit-cards-for-bad-credit-unsecured-secured/
(We'll get compensated if you're approved, and we thank you kindly.)
Other ways to support this channel:
- Get a $25 - $325 bonus when you open a SoFi Checking/Savings Account at: www.sofi.com/invite/money?gcp=68388c1c-9593-48a6-8872-7052db78d937
- Use our Amazon.com link: amzn.to/2PpQWoB (As an Amazon Associate, we earn from qualifying purchases.)
.
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!
I’m not a fan of Citi’s retail card offerings. They tend to require a special website outside of Citi’s normal website
Strange that nobody mentions the coupons that Home Depot from time to time sends to the card holders. That could be $15 off on the purchase of $100 or larger, $25 off on the purchase $150+, $5 off the $25+. That is effectively 15%-20%, and that beats any other way of payment, for example 3% cash back on Home Improvement category from BoA or 5% on seasonal rewards from Discover. Sometimes HD issues coupons on 10% off for the purchases up to $2000. For me that is the main reason to be a cardholder.
Got it for the 25 bucks off. Never used it again lol
I got the HD consumer card about 4 years ago to buy a refrigerator. They only gave me a $1000 limit at the time. Two years later I asked for a CLI and only got a $500 bump and a hard pull. I've only used this card a few extra times for small stuff just to keep it from being shut down, (which they send out a letter telling you they're about to kill the card for inactivity.) I only keep it in case I need another large appliance or for some project which might put me into the special financing.
I have mine because there was a 15% off first purchase offer when i was buying alot of tools there. Dont use it much anymore
I saved $147 annual interest on a $400 purchase. That's a pretty good Perk!
Surprisingly not too hard to be approved for, grabbed this one and a Lowe’s card this evening! ✊
For more than 6 months - I have never missed any video from Adam. For some reason, I find this channel very entertaining even though I have all the cards I need in my wallet.
Thanks!
Question, once I get approved and recieve the discount and make the final purchase is there anything else I should do with the credit card now? Or can I leave it alone for the rest of my life
Applied for this card and was approved for $500 then I called and I ask for credit limit increase right away and it was increase to $3000 .
Mainly used them to purchase appliances when things came up. They reduced my credit limit by 60% (with an 824 Fico Score) to $2.5K. You're lucky to find a half-decent Frig if you're lucky--but that kills your score, because of the credit usage for one card. HD card not worth the hassle. They threaten you (via letter) to reduce you credit limit if you don't use their card. Then they do it anyway to reduce their so-called financial risk. Then have the gall to perform a hard pull should you decide to get your limit increased. Thanks but no thanks.
Great content as always, thanks Adam!!!
Yeah I got the 12 months and $100 rebate when I got a new fridge from them payed off my fridge quickly with the 0 apr rate. Other than that not using it again
I received an invitation code to apply for this credit card. I spent almost an hour trying to get connected with a sales rep. Couldn't. You basically can't talk to a human being about your questions before actually applying for the card, which is totally counterintuitive. I like to ask my questions before applying. Anyway, thanks for making this video. Did answer some of my questions. But not all.
Perhaps I’m basic. Lol. The 12 months extended return and the special financing for all purchases over $299…sounds good to me! If Lowe’s doesn’t offer special financing, and you only save the 5%, you essentially save less. For example, a $1500 fridge. You would pay $1500 without interest if paid off in less than six months. If you accrue interest on a Lowe’s card, the interest is gonna likely exceed the $75 in 5% savings. 🤷🏾♀️
Lowes gives you 5% off or special financing over $299
6 months, 12 months, or 18 months no interest depending on how much you're spending! I try to only use this card when I'm spending enough to qualify me for the 0% financing over x amount of months. Not a bad card at all for what it is..
GREAT VIDEO❗
The no interest option is nice, and so is the high credit limits they give
Thanks for the info + video!
I mean.... the 19.96% APR for the 114 month payback is actually an insanely good deal when you adjust for inflation, right? Both the "official" inflation and the real inflation.
I'm a PT cashier at HD and never upsell the store credit card. It is awful.
Most people who have it aren't that into optimizing credit cards, or they'd probably never even consider it.
Thank you for making this video.
If this Mastercard. I should be able to spend Loan amount sonewhere else not just Home depot....am i right??
Home depot offers a pro extra acount that keeps track of your purchase and every 5000 dollars gives you $50 coupon, once you have the credit card from hd it’s every $1,250, so its about 4% so its upthere with lowes
Went to Home Depot to purchase some kitchen cabinets, was told I could receive 100 dollar credit if I applied for a Home Depot credit card. Not that I needed another credit card but for 100 dollars thought what the heck. After being accepted for the credit card it only had a 1000 dollar credit limit. What good was that? They could not split the order between cards so I just received another credit card with no added benefits. Stay with a card that offers cash back. Home Depot card is useless.
which credit card was it that only had a 1000 dollar credit limit?
It goes on your credit so 1000 is all you could get 😂
I got 10k but initially started with like 4K and I’ve had it for a good while. Personal line
Adam,
Actually this card is harder to get approved for since it's Citibank. I have a Lowes consumer credit card and 2 business cards for Lowe's and I got them a lot easier than this card. Citibank is sensitive to blemishes than synchrony bank who issues the Lowe's credit card. Appreciate the updated review
Yes, definitely a higher standard to be approved than cards issued by Synchrony, Comenity, etc., but still easier than bank credit cards that have more generous rewards.
you're exactly right!
I didn't have a issue getting the home depot card or citi bank card...
it did puzzle me as well why a store card needed such a high credit, you normally don't want these types of cards unless you're financing something you want anyways, I wanted to get a fridge at the time but got mine working. Ended up buying a new microwave, stove, pressure washer and my latest purchase a snow thrower through lowes instead, so if my calculations are correct Home Depot missed out on roughly 3,500 bux from me. Their loss!
@@phazekiller5701 exactly Citibank is tough to get approved for. I got approved over at Lowes for a personal card and 2 business cards. One of them was no PG my commercial business card. I can't get approved for a business card at HD at all. I put all of my Lowes spend on those cards for my bedroom project and other things. Oh well it's HD loss I guess. Lowes got my spend and the 5 percent off every purchase. My bedroom project was at least 5k with all the stuff I needed. Their loss.
lol, funny story with this card, I got told I didn't qualify with 700, applied to lowes got that instead 6K Limit I think. After my score got to 750 they sent me an offer but I'll stick to lowes, after that offer I started getting a bunch from citi. Having had my lowes card for roughly 4-5 months I was able to ask for a CLI and was given 20k 745 credit at the time. Been a beautiful card for me so definitely sticking with lowes until I get all other CC's I want to get, save Home Depot for last...
Wow they didn't even approve you with that score. Citibank is insane. I also got approved over at Lowes I have a personal one and 2 business cards. I got the commercial business card with no PG and a decent limit that they offered. I got the other business advantage card with a decent CL also. So screw Citi and the HD card.
@@jeremymoore450 lol, it was quite a surprise, I've thrown away about 30 card offers from them since then, Pretty much offered me all their cards, I don't even want their cards I'm going after the chase and amex cards later, Already have the amazon prime card. Definitely worth it if you wanna buy a bunch of stuff and finance it through them, Can't wait until my Hard Inquiries drop for chase. Love lowes man, definitely have spent more than I normally would have at the store since getting the card. I kind of feel like HD doesn't really give a good enough rewards for it to be so difficult to get, however that's not my call so other stores will be my card long before they do.
They didn't approve me for the card. Went to Lowes, got approved for 18k with Amex.
@@ManeIndian see that is crazy that Citi is being that crazy for a store card. Smh
Lowes price matches Home Depot.
for anyone to add to the part where if home depot have better prices and might be the diferences. well on some stuff they do but lowes have this program where they match any of their competitor prices plus the 5% off so yes lowes is better on the long road with consumer however the revolving comercial account is another history. i get perks lef t and right up to 4x times faster.
What do you think about the Tractor Supply Store Card and new Master Card
Unless I want to be able to return a big appliance, I don’t really use it any more because of lack of rewards. I also don’t like that they cap their veteran discount; I don’t think Lowe’s caps theirs. Both discounts do have exclusions on appliances.
If ypu have citi as banking you can easily get approved for 700+ fico
Yeah it was easy to get approved from them
I don’t don’t have that but I got approved for 5k
Omg
I’m so sorry I got that card . It serves no purpose at all. And the rate is very high . No I have no plans to use this card in the future.
Would using this and waiting to pay count towards CCU or is it not the same thing as it's a deferred loan?
I got their card with 800 dollar limit. ok. Used it. paid off the expenses, they then lowered my limit to 500...I bought some other items this past year, then they lowered it AGAIn to 300. Every time they've done this my credit score goes down. I loath home depot. I'm going to pay it off and cancel this card. It's garbage and it will hurt your credit.
Sorry for this horrible question. I am trying to utilize their 6 month payment offerings to buy some tools out of my disposable cash price range. I don’t see an option to check out with the 6 month financing within the app, just the same “apply now” pop up in the spot where it’s always been. I have no option but to check out, which would be using my linked Home Depot credit card that does not have enough balance to do anything but meet the monthly payments. I want to finance but it appears the app does not recognize I have the card? I am hoping they do the financing automatically because I already checked out!
My wife applied and they denied her lol she has a credit score of 750
Hard or soft pull ? Is it worth applying ?
Check the name is right or call
Dang I was approved my score was 670 sorry
I've been building credit for a year now I'm 19 make 42k a year, I have Capital one, Discover, sofi, amazon prime, and American gold, with a 723 and got accepted. You needa do the pre approve then accept the offer
I purchase anywhere from 30 to 50k at hd and lowes a year. And around 15 in gas a year do u recommend i get a lowes or hd card or look any suggestion on other cards that would be better or rewards
So does the closed loop store card count against the Chase 5/24?
Did pre qualification.. got a hard pull the next day from Experian and still no answer from Home Depot.. very hard to try to get someone on the phome
get the credit card before the loan or it doesn't matter?
i need the method
I have a $500 credit limit with Home Depot for about 1 year. If I apply for a credit limit increase will it be a soft pull or hard pull?
Soft pull , always apply for credit limit increases 3-4 months in between if using regularly
Soft pull
I have a balance of $430 on a $500 credit limit. I have about $370 purchase on a 12 mo. financing plan. should I make the min. payment or try to just pay it off quickly?
Pay it off. If you use more than 30% of your credit limit, it can actually hurt your credit score.
Pay it off & cut it up.. then cancel.. that’s what I’m doing.. these cards will you broke
Pay it off as quickly as possible but do not exceed 10 months.
yea they can keep that card....No Thanks
for the Project Loan card,
can you pay earlier than 66 months?
Yes
11th
9 years 🤣
First !! Lol
🏆🏆🏆