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.
It's worth mentioning that the Home Depot® Credit Card offers an intro APR of 0% for 6 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 Lowe's credit card credit score requirement is 640 or better, which is considered fair credit. The Lowe's card is fairly easy to get, but that doesn't make it a great card. Even if you have a good or excellent credit score, the card will have an APR of 26.99% after the intro APR period, which is pretty high.… read full answer
If you shop at Lowe's a lot or need to finance a big purchase there, however, the Lowe’s credit card is a decent deal. When you sign up for the card and spend at least $299, you can choose from a range of promotional interest periods: 0% - 7.99% for 6 - 84 months. Or, you’ll earn 5% discount on all purchases. Plus, you’ll get a 10% discount on your first 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 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.
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