The Home Depot® Credit Card does not have a balance transfer fee. The reason the Home Depot® Credit Card has no transfer fee is that it does not allow balance transfers at all, and that means you'll need to look for another credit card to help reduce the cost of existing debt.
The regular Home Depot® Credit Card interest rate is 17.99% (V), depending on your creditworthiness. You'll need at least fair credit - a credit score of 640 or higher - for approval. If you have fair credit, you may end up with an APR on the higher end of the range.… read full answer
It's worth mentioning that the Home Depot® Credit Card offers an intro APR of 0% for 6 - 24 months on purchases, but it has a catch: It's a "deferred interest" offer rather than a true 0% APR period. That means you'll pay all the interest you'd have paid otherwise if you don't pay off your card before the promotional period ends. So, if you use this card for its promotional APR period, make sure you can pay off the card before the deferred interest kicks in. If you don't, it's a pretty expensive way to finance a purchase.
The Home Depot® Credit Card is worth it if you're looking to undertake a big home project. It comes with a $0 annual fee and offers 0% interest for new purchases. That means that you can save money on interest for any new purchase you get.
On the flip side, this card can only be used at Home Depot, and has an above-average APR of 17.99% - 26.99%, based on your creditworthiness. So it’s not ideal for everyday use.… read full answer
Also note that the Home Depot® Credit Card has a deferred interest payment plan. What that means is that if you buy something with 0% interest for 6 - 24 months, you can't miss a single payment. If you do, interest will be retroactively applied for the original purchase amount, as if there was no intro APR at all.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.