Home Depot Credit Card Review

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I like to cook for friends, but if I’m preparing a dish that might get a little messy and I reach for my chef’s apron that’s when the teasing starts. The only apron I have is a thick cotton carpenter’s apron with a Home Depot logo printed across the front.

What can I say? The canvas is sturdy and can take lots of abuse. It has a few pockets where I can stash spice bottles, lemons, onions, or a list of my recipe ingredients. As long as I’m careful not to get leftover sawdust on anyone’s burgers it’s the ideal apron for grilling outdoors – which is really just a culinary do-it-yourself project, if you think about it.

When it comes to DIY projects Home Depot always has what I need. Plus the employees are experienced enough to help you solve problems with your projects, and the prices are always competitive. Recently I saw a Home Depot ad on TV, and it occurred to me that I should check out their credit card. I typically steer away from store cards in favor of cash-back rewards cards from major banks. But since I do a lot of shopping at Home Depot it might be a good card for me to carry. Here’s what I learned when I did some research on the Home Depot Credit Card:

Home Depot Consumer Credit Card

The Home Depot Consumer Credit Card has no annual fee and offers 0% interest on purchases of $299 or more for twelve months. After twelve months the rate reverts to your standard APR which will run from 17.99% – 26.99% variable. By the way, the small print states that the majority of people who apply get a rate of at least 25.99% APR. Interest will be charged to your account from the purchase date if the purchase balance (including premiums for optional credit insurance) is not paid in full within 12 months or if you make a late payment.

Home Depot Commercial Revolving Charge Card

This card is issued through Citi Bank. There is no annual fee and although the interest rate is listed as 21.99%, the small print says that if your billing address is in GA or NC when you open the account you’ll get a 15% interest rate. That almost makes it worth moving across state lines. Meanwhile with this card you can make monthly payments for purchases – or pay them off in full. If you are a contractor, for example, you can track purchases by such things as the job name – and you can get free cards for your employees to carry. There are also some handy online account management and bill paying tools.

Home Depot Commercial Account

The Home Depot Commercial Account is also issued through Citi Bank. There is no annual fee and the same basic features that are on the revolving account card apply to this one, too, however there is no APR rate, all charges are due and payable by the payment due date shown on your billing statement. Instead of using revolving credit to pay off your bills over time this is just a standard charge card.

Home Depot Project Loan Card

The Home Depot Project Loan Card extends financing with a credit line that can be as high as $40,000 – depending upon your credit worthiness. The APR also varies with your credit – although those with the best credit can get an APR as low as 7.99%. You repay purchases in fixed monthly installments and if you pay off your purchase within six months you don’t have to pay any interest. There is no annual fee.

Project Loan Card Review

This card can be a great solution for your next home repair project, giving you access to funding you may not have on hand right this second. Before jumping into that though, you need to make sure it is right for you. Listed below are the pros and cons for quick comparison.

The Pros
  • Instant money when you need it most
  • The ability to conduct your own remodeling projects
  • Great service (in most cases)
  • Six months with no interest and no payments
  • Price match guarantee for all building materials
  • Monthly payment reminders
The Cons
  • 13.99% interest after the first six months
  • No option to pay in store
  • Limited funding available
  • Inability to pay by debit or credit card
  • Monthly payments start immediately after six months if not paid in full
  • Receipt for payment comes via postcard
This card can be a great way to get money for your renovations, but only if you are able to pay it back in a timely manner. Fully assess your budget before signing up for this to make sure that you can afford the payments to come. If you think you can pay everything back in six months, apply for the loan as soon as you are ready.


The Home Depot Project Loan Card might be a viable option for someone needing a line of credit and a way to finance a more expensive project. Usually however, bank or credit union loans are priced more competitively than typical store or merchant loans, so that may be a more affordable option. Meanwhile the other kinds of financing and plastic offered by Home Depot do not appear to have any benefits or advantages that can hold a candle to those you’d get from some of the best cash back credit cards.

I did, by the way, see tabs on the Home Depot site for managing your MasterCard. But there are currently no offerings for a Home Depot MasterCard listed under the credit options section of the site. So my conclusion is that while they issued MasterCard products in the past, they no longer do.

*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.

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