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5 Benefits of Applying for a Home Depot Credit Card

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5 Benefits

With all of the options out there when it comes to credit cards, you might not realize how beneficial a Home Depot credit card can be for your wallet and your home improvement projects.

With many benefits and no annual fee, it’s one of the more attractive options out there. If you’re considering applying for a Home Depot credit card but aren’t sure whether or not it’s the right move, keep reading to learn more 5 Benefits of Applying for a Home Depot Credit Card

1) Reward Points

For every dollar spent with your credit card, you’ll earn 2 points. The warehouse store will allow you credit these points for future use. Reward tiers start at 5,000 points and work their way up to 30,000+ (you’ll have to spend $200 or more in a single transaction). When it comes time to redeem your hard-earned points, use them on pretty much anything from appliances to lumber. The reward program is simple and painless—that’s kind of what we like about it!

Flexible Payment Options

At checkout, simply select credit as your payment method to take advantage of convenient financing options available through The Home Depot.

As long as you qualify, you make minimum monthly payments until you reach a credit balance of over 10. And because interest rates tend to be very low when compared to most other credit cards out there, paying off debt becomes a lot easier over time! It doesn’t get any easier than that! Apply now so that you can take advantage of these special offers immediately.

The fine print:

This content material was once created via The Home Depot® and its advertising agency, Agency Services Company (ASC), which has been compensated via American Express for its services.However, the opinions expressed herein are those of ASC and not necessarily those of American Express. Any information related to products or services has not been independently verified by American Express. This content is not provided by Bank of America Merchant Services® or Bank of America®, nor does it constitute an endorsement thereof.

2) Low-Interest Rate

You don’t want to go into debt, but if you have to, it’s smart to apply for a card with low-interest rates. It’s also smart to use credit cards wisely—pay your balance in full every month and make sure your payments arrive on time. Late fees pile up quickly and can add hundreds of dollars in charges over just a few months. Choose an available credit limit that works within your budget and try not to carry too much debt from month to month.

If you do take out a loan or line of credit, make sure you understand all terms and conditions before signing anything.You do not want to pay more than you have to. A good rule of thumb is to borrow only what you need and pay off any loans as soon as possible. In addition, consider taking advantage of special offers such as zero percent introductory APRs or cash-back rewards.

These perks could help offset any costs associated with using your card while saving money in other areas. For example, if you normally shop at a competitor like Lowe’s (NYSE: LOW), buying everything at Home Depot instead might net you some reward points down the road when combined with whatever special offers are available at that time.

3) Purchase Protection to Credit Cards

Any items you purchase with your Home Depot credit card are covered. If an item purchased on your card is damaged, lost, or stolen within 90 days of purchase, you will receive up to $1000 toward its replacement. Purchase protection also extends to situations when you buy an item with your card and it is lost, stolen, or damaged after your transaction.

For example: if you go on holiday and purchase plenty of fancy kitchenware that receivesbroken earlier than you get home, keep deposit cards are now not probable to supply any protection for these items. That won’t cost you a cent as long as you pay with your Home Depot card.

4) No Annual Fee

One of the best things about most credit cards is that they have no annual fee, and that goes for The Home Depot’s credit card as well. While The Home Depot credit card does not have an annual fee, it does have other fees associated with it, but these are all waived during your first year as a cardholder.

Some of these waived prices encompass late price fees, lower back fee fees, stabilityswitch fees, and money becoming a cardholder encourages credit card management with consolidated costs.

5) Balance Transfer Options to Depot Credit Card

If you’re looking to transfer balances from other credit cards, consider applying for one with no balance transfer fee. The Home Depot MasterCard is one such card. It has 0% APR on purchases and balances transfers* for 12 months, so there’s no reason not to make big purchases like appliances and take advantage of big savings while you can.

This card also comes with no annual fee, which means you don’t have to worry about keeping it up as long as you make your payments on time. Plus, if you use it responsibly, it could be a smart way to build or rebuild credit over time. When comparing store credit cards, remember that some offer special rewards to help you save even more money at Home Depot.

Compare them side-by-side to see what works best for your needs and budget. In addition, keep in mind that these days many major retailers offer their store credit cards—but unlike those made by third parties like Visa or American Express, they won’t count towards improving your FICO score over time. But they might come with perks like coupons and special discounts. (For example, Sears offers its Shop Your Way Rewards Mastercard, which offers 5X points per dollar spent at Sears and Kmart stores.) To learn more about store credit cards and how they work, visit NerdWallet’s roundup of Best Store Credit Cards.

This information has been collected by Nerdwallet, and hasn’t been supplied or endorsed by the card issuer of this credit card.To learn more about small business credit cards, visit the NerdWallet Small Business Guide.. You may also want to check out our Best Business Credit Cards picks. (Opens a new tab)