Home Depot Credit Card overview
The Home Depot Credit Card offers special financing for large purchases and occasionally features a one-time, in-store discount for new applicants. However, the lack of ongoing rewards means you're almost always better off with a more general cash-back credit card. Card Rating*: ⭐⭐
*Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
Long before I was deep into the world of travel credit cards, I opened the Home Depot Credit Card shortly after my wife and I closed on our house. We had some major renovations to tackle, so enjoying an extended promotional period of deferred interest on that large purchase made it worthwhile. It also helped that the card carried no annual fee.
However, unless you're frequently making purchases of $299 or more and need extra time to pay it off, there are likely better options out there.
Here's everything you need to know about the Home Depot Credit Card.
The information for the Home Depot Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Home Depot card pros and cons
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Home Depot card welcome offer
Most of the time, the Home Depot Credit Card doesn't carry a one-time bonus for new applicants. However, it occasionally does sweeten the pot.
For example, now through July 31, you can save up to $100 when you're approved for the card and use it for an eligible purchase at Home Depot (in-store or online) within 30 days of your account open date. The discount is based on the total purchase amount before taxes and delivery fees and must be on a single receipt, but here's what you can save:
- $25 off your purchase of $25 up to $299
- $50 off your purchase of $300 up to $999
- $100 off your purchase of $1,000 or more
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Just note that this discount pales in comparison to other top cash-back credit cards.
Home Depot card benefits
The current offer on the Home Depot card is lackluster, and the card benefits aren't much better. You can enjoy special financing offers when you make large purchases at Home Depot. Specifically, when you make a purchase of at least $299 on the card, you're eligible for six months of deferred interest on that purchase.
Additionally, you may be targeted for a longer promotional period (or discounts) on larger purchases.
For example, several years ago, we had some significant damage to the fence in our backyard as a result of trees coming down during a hurricane. It would've set us back nearly $7,000 to replace it (our homeowners insurance only paid a small portion for a repair). Rather than worrying about taking the money out of our savings account, we arranged for installation via Home Depot and charged the purchase to our Home Depot Credit Card.
In exchange, we got 24 months in deferred interest — which wound up being nothing since we paid the entire balance off before the end of the promotional period.
However, there's an important caveat here. This is a deferred interest offer as opposed to an introductory 0% interest offer. The big difference? With the deferred interest on this card, your interest accrues throughout the promotional period. If any balance is left at the end (even just a few cents), you're responsible for all of the interest accrued since the original purchase. (On the other hand, a 0% annual percentage rate offer only starts incurring interest on the remaining balance when the promotional period ends.)
In other words, if you use this special financing, it's critical to pay off the entire purchase before the six months ends.
Beyond this benefit, the Home Depot card offers you one year to return items, four times longer than the merchant's standard return policy of 90 days. The card also includes zero liability for fraudulent charges.
Earning and redeeming rewards on the Home Depot card
The Home Depot Credit Card doesn't earn any rewards on your everyday purchases, which thus means that there are no rewards options on the card.
Other Home Depot card options
Our analysis thus far has considered the Home Deport Consumer Credit Card, but there are some other financing options available for the retailer. This list includes:
- Home Depot Project Loan*: As the name indicates, this product allows you to finance a large home improvement project via a loan. You have up to six months to purchase everything you need and can finance up to $55,000 — with four different loan durations and fixed monthly payments. However, even the most favorable (66 monthly payments) has a 7.42% APR.
- Home Depot Pro Xtra Credit Card*: This commercial revolving charge account is affiliated with Home Depot's loyalty program for contractors and other businesses that buy supplies or other items with the chain.
- Home Depot Commercial Account*: This charge account isn't a credit card but allows eligible businesses to issue buyer cards to authorized employees who can then make purchases at Home Depot stores. You must pay the purchases within 60 days, though you can get a 2% early pay discount if you pay online within 20 days.
You can view more details for these products on this page.
The information for these products has been collected independently by The Points Guy. The product details on this page have not been reviewed or provided by the issuer.
Which cards compete with the Home Depot card?
Beyond the other Home Depot options detailed above, most alternatives to the Home Depot Credit Card are more general rewards cards. Here are some solid options:
- If you want rewards at a major home improvement store: Consider the MyLowe's Rewards Credit Card. This card offers 5% off all Lowe's purchases charged to the card, along with similar special financing options. This (obviously) won't help Home Depot shoppers, but if you're open to a different retailer for your home improvement purchases, it can be a decent option.
- If you want solid rewards on all purchases: Go with a top cash-back card like the Wells Fargo Active Cash® Card (see rates and fees). Even though it has no annual fee, you'll earn unlimited 2% cash rewards on all purchases, and new applicants can receive a $200 cash rewards bonus when they spend $500 in purchases in the first three months. This is far superior to the Home Depot discount detailed above. This card is also a Visa credit card instead of a store card, so it can be used anywhere Visa is accepted.
- If you want special financing: Opt for a card with a 0% introductory APR on all purchases like the Chase Freedom Unlimited®. You'll enjoy 0% APR for 15 months from account opening on purchases and balance transfers (then a variable APR of 20.49% to 29.24% applies). You'll also earn at least 1.5% cash back on all purchases, though new applicants can earn an additional 1.5% back on up to $20,000 spent in the first year.
- If you prefer extra protection on your Home Depot purchases: Pick a card with purchase protection or extended warranty coverage. Purchase protection typically covers theft or damage to a product within 90 to 120 days of purchase, while an extended warranty will often add an extra year of coverage to the original manufacturer's warranty. This can be great peace of mind for those who frequently purchase appliances or other expensive items from Home Depot.
For additional options, check out our list of the best rewards credit cards.
The information for the MyLowe's Rewards Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Related: The top credit cards to maximize large purchases
Is the Home Depot card worth it?
Generally, no. It fit my needs for some specific purchases a few years ago, but I've since moved on. Since the card is limited to purchases at Home Depot and doesn't earn any rewards, it's only a good choice for those needing specific financing options. Almost everyone else will be better off with a 2% cash-back credit card — or one with a true 0% APR offer.
Related: How to choose a cash-back credit card
Bottom line
I previously opened the Home Depot Credit Card when my wife and I were doing a large renovation, but given its array of limitations (and notable lack of rewards), we've since shifted our large purchases to other cards. It could make sense under very specific circ*mstances, but most Home Depot shoppers will likely be better off with different cards for their home improvement purchases.
Related reading:
- How to choose the best credit card for you
- Store vs. cash-back cards: Which 1 should I get?
- 4 reasons store cards are (almost) always a bad idea
- Here are this month's best credit card welcome offers
- Pros and cons of 0% APR credit cards
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
