and save even more money
We have all heard of Home Depot - the place where we can go to make a wide range of purchases relating to home hardware and furnishings. However, I had never heard of the Home Depot Credit Card until recently, and when I looked into it, there is even more opportunity to save money by using their excellent range of credit card products. I'll go through the ins and outs of the different cards available through Home Depot in a minute - but first, a bit of credit card budgeting 101.
The Cost of Credit Cards
If you are determined to have a credit card, then you will also be paying for the pleasure, that is simply a fact. Whether you do it through an annual account keeping fee, other fees and charges, or the often high interest payable on credit cards, or perhaps all of the above, there is always a cost involved. So before you sign on the dotted line and grab a credit card, you need to be aware of the cost to you, and be prepared to not only pay those costs, but to budget accordingly. If your family finances cannot handle the expense, then lay off the credit card!
Why Apply For A Home Depot Credit Card?
A home depot credit card, like many of its competitors, operates in a competitive environment and therefore has differentiated itself from its competitors by offering a unique product. As with the Ikea credit card, there are advantages to using the Home Depot Credit Card when shopping at Home Depot. The first decision you will need to make is whether you want a consumer credit card or a commercial credit card. This will be relatively easy, as you know yourself why you want the card in the first place.
The Home Depot Consumer Credit Card has a great offer where for purchases over a $299 threshold, there is a six month interst free period. In that period there are minimum monthly repayments which will still be due, but if you repay the amount you spend within six months on those purchases that qualify, you pay no interest at all. How's that for a deal! So I could go today and buy a new barbeque and outdoor setting, and provided I pay for the purchase on my Home Depot Credit Card I will not be liable for any interest! The company also frequently runs promotions whereby this is increased - for example, at the time of writing this interest free period is increased to twelve months.
The commercial credit cards available from Home Depot are very similar also, with the only difference between the two main cards being that there is full repayment required on a monthly basis on one card. There is also a business rewards Mastercard on offer through Home Depot, but apart from the inclusion of the rewards program there appears to be little other to feature on it.
In summary, the Home Depot Credit Card...
is great for regular shoppers at the store. If you find yourself at Home Dept on a regular basis, then it makes sense to apply for a Home Depot Credit Card to qualify for the generous interest free terms. Remember that credit cards can be dangerous to your health if you spend recklessly and beyond your sustainable limits - so exercise self control and discipline with your spending. The bottom line is, there are great savings to be had by having a Home Depot Credit Card, but if you can't afford it, just don't get it.