A credit score of 640 or higher is needed for a Home Depot® Credit Card; this means that you need to have a fair credit score to get it. That’s the case for both the Home Depot® Credit Card and the Home Depot® Business Credit Card. Both Home Depot credit cards are store cards, meaning they can be used only at Home Depot. Their 640+ credit score requirement is consistent with that of other store credit cards.
Just having the credit score needed for a Home Depot card doesn’t guarantee approval. Other factors taken into account include income, employment status, payment history, debt level and more. All Home Depot credit cards are issued by Citibank.
Here are the requirements to get a Home Depot card:
Some of the easiest department store credit cards to get include the Macy’s, Kohl’s and Target cards. But there isn’t really a single department store credit card that’s obviously easiest to get. Nearly all store cards require that you have fair credit or better to be eligible. So, instead of one easy card, you have several options within reach. … read full answer
The Macy’s Card is good because…there’s no annual fee, and you get 20% off (up to $100) when you open an account.
The Kohl’s Card is good because…there’s no annual fee, and you’ll save 30% on your first Kohl’s purchase and get a 15% coupon when your card arrives in the mail.
The Target Card is good because…there’s no annual fee, and you’ll save 5% at Target and Target.com, plus get a 10% off coupon on your account anniversary.
But it’s worth noting the distinction between a store’s in-store card and its general-use credit card. The former can only be used at the retailer that issued it (and sometimes others merchants owned by the same parent company), and are generally easier to get. For example, the Sears Store Card, which you can only use at Sears, requires fair credit. The Sears Credit Card requires good credit, and you can use it anywhere that accepts Mastercard. So, the easiest department store credit card to get will almost always be the retailer’s in-store card.
The best credit card for a 550 credit score is the OpenSky® Secured Visa® Credit Card. There’s no credit check when you apply, so approval is almost guaranteed. You just need $200 for a refundable security deposit and enough income to make monthly payments. This card also reports to all three major credit bureaus every month, which is your ticket to a better credit score. And a $35 annual fee isn’t too much to pay for that.… read full answer
The Discover it® Secured Credit Cardis another great 550 credit score credit card. It has a $0 annual fee and actually rewards you for making purchases. A 550 credit score won’t keep you from getting approved either. But a pending bankruptcy will.
Those aren’t the only credit cards you can get with a 550 credit score. In fact, there are two kinds of credit cards for people at that credit level: Secured credit cards and unsecured credit cards for bad credit. A 550 credit score is within the bad credit range, unfortunately. Bad credit goes from 300 to 639. But picking the right 550 credit score credit card and using it responsibly could help you improve your score to “fair” territory within 12-18 months.
Before applying for a card, make sure to check out its terms and conditions, or a FAQ page if there is one, just to make sure you fit the criteria for eligibility. You can also try getting pre-approved for a credit card. It won’t hurt your credit, and it will give you a good idea of your odds if you decide to apply.
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