[snap url="http://homedepot.com" alt="Home Depot"]Home Depot is one of the most trusted departmental stores in the United States, and the reasons are obvious for everyone to see. Home depot offers the finest collection of items and equipment required for home improvement, décor, lighting fixtures, fans, kitchen utilities and tools, storage & organization tools, electrical tools, equipments and fixtures etc. to help one and all with all their home-based needs. There is also a section for plumbing supplies, paints, flooring tools, lumbers & composites, building materials etc. for all construction related requirements. Home Depot thus is the basic hub for all those individuals and companies who wish to purchase supplies, furniture, tools and equipments related to construction and renovation jobs.
Whether it is a renovation job or total construction for residential and commercial purposes, one can find all the related materials, equipments and tools in Home Depot. Home Depot is the right place for those individuals who are passionate about Do-It-Yourself projects as well. However, it is evident that the cost of all the requirements put together would be quite a huge sum, and can intimidate several individuals. Home depot has an easy solution for all your purchase expense related problems, in the form of Home Depot Credit Card, Home Depot Commercial Revolving Charge, and Home Depot Project Loan.
Home Depot Credit Card
Home Depot Credit Card is useful for both personal and commercial usage. Individuals can make their purchases amounting to $299 and above on credit basis, which means that there will be no interest to be paid as long as the repayment is made within 6 months from the date of the purchase. There is no interest rate charged on the application of the card or on the repayment of the loan for a tenure of 6 months, which means that the interested customers with imminent purchase requirements can buy all the products on their list, without having to worry about immediate payment for the same. The repayment can be made on an installment basis for 6 months.
Advantages
Easy purchases – Small businesses and individuals can benefit from the easy payment options brought forth by Home Depot Credit Card. One can purchase all the essential home décor items, furniture, electrical fixtures etc without having to worry about digging their pockets too deep – the credit extension lasts till 6 months of the purchase date, and the minimum requisite is that the purchase amount should exceed $299.
Convenient repayment options – One need not worry about the repayment of the extended credit amount – the amount due can be paid in the form of small, partial payments as per their own convenience. Most individuals find it very easy to repay the loan installments when their monthly paycheck arrives, and the credit amount here can be repaid within 6 months in the same manner.
Easy purchases – The Home Depot Credit Card allows you to place orders from other competing chains as well, without restricting the benefits to its own store, which quite a generous offer.
Disadvantages
High minimum interest charges and APR – Upon late payment, the Annual Percentage Rate (APR) is 29.99%, whereas the actual might stay at 17.99 – 26.99%. A minimum interest charge of $2 would be made.
Home Depot Commercial Revolving Charge Card
The Home Depot Commercial Revolving Charge is mainly meant for small and medium sized businesses wherein the companies would like to manage its frequent purchases from Home Depot store on a regular basis. The employees who make these purchases on behalf of their company would be assigned respective IDs and their purchases would be tracked, for the company management to track and analyze.
Advantages
Flexible Payment Options
The volume of purchases is higher if they are by a small or medium sized business, and hence the amount can be quite high as compared to the billing amount of those who make purchases for personal usage. The company which has a Home Depot Commercial Revolving Charge Card subscription can opt to pay smaller monthly installments, or pay the entire sum at one go. The repayment would be charged no extra interest till 6 months.
Itemized billing for convenient tracking
Itemized billing allows the business owners to track all the purchases made, and likewise comparisons and analysis can be made to estimate the expenses according to their utility. For example, a particular sanding instrument might have been ordered many a times and a surplus can be avoided in the next purchase cycle. This can bring in considerable savings.
Tracking of purchases
The purchases made can be tracked according to the assigned PO numbers, employee IDs and job numbers. One can easily track down any discrepancy or irregularity in the billed inventory list, and the company no longer needs to be worried about unwanted or unauthorized expenses. The employee numbers are generated by Home Depot for zero additional charge.
Zero Annual fee
All these benefits – for zero subscription fee on annual basis. Isn’t that a substantial reason for a company to apply for a Home Depot Commercial Revolving Charge Card at the soonest!
Easy Online Access
Daily updated track reports can be monitored online thus providing the easiest access and the business owners can analyze them on daily basis. Daily reports are updated by the Home Depot team by 6pm, leaving a lot of time for the business owners to monitor and analyze the same.
Disadvantages
Personal Guarantee needed – Businesses which lack satisfactory credit history would need expedite personal guarantee from the business owners for being personally liable for all the repayments in case of failure of timely repayment by the business entity. Though this serves useless if the repayment is done by the business within the due period, it would endanger the privacy of the business owner in the worst case scenario of non-repayment.
Contact Details
The customer care for Home Depot Consumer Credit Accounts can be reached on these numbers – US: 1-866-875-5488 or Canada: 1-800-747-3787. Portal: www.homedepot.com
Conclusion: All in all, it is a great service to use and to stay on top of your financial planning and credit.