Home Depot Credit Card From Citibank
Author: jrjdrayer
Posted: Sat Jun 24, 2006 3:56 pm
Post subject: Home Depot - Citibank Card
I just rec'd a pre-approved offer in the mail for a $ 4000. Home Depot card from Citibank. Does anyone have any experience with this card ? I just opened two cards in May, AMEX (5600 limit) and Chase Flexible Rewards, and got an American Eagle card with my daughter. I do not have any balances right now, other than $800. on the Chase card with a 4000. limit (0%) .
I am on the fence as to whether I want to open this account. It took me years after my divorce to get my credit score to ~ 725.
I would appreciate any advice or comments that anyone has.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: cameron
Posted: Sat Jun 24, 2006 5:16 pm
Post subject:
Chase has a card where you get 3% cash rebates at stores like home depot. WHy not get that one instead.
author: Pale Rider
Posted: Sat Jun 24, 2006 6:16 pm
Post subject:
I qualified with a much lower score, so you should have no problem. They give regular CLI's. The best thing is the 6 or 12 month no payment/no interest promotions.
Author: fire3000
Posted: Sat Jun 24, 2006 8:25 pm
Post subject: HD Card
Accepting this card will not have a negative effect on your score if you PIF. Your offer should say that you are entitled to 10% off your first purchase at Home Depot using the card. If you do not shop HD often and can not spend at least $500 in one visit there, then I recommend that you ask Citi to approve you for their regular rewards card instead and at the same 4K credit limit.
Author: jrjdrayer
Posted: Wed Jul 05, 2006 7:25 pm
Post subject:
I just got another mailing from Home Depot, extending my pre-approved offer through August 12th, telling me to bring it to the store for instant activation with a guaranteed $ 4000 credit line ! Still haven't made a decision about whether or not I want it.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: hdporter
Posted: Thu Jul 06, 2006 1:39 am
Post subject:
You clearly don't have a pressing need to establish more credit for the sake of a higher credit score.
Unless you expect to take advantage of occasional 0% extended payment offers for Home Depot purchases or periodic 10% off coupons, I suggest passing on the card. As a general purpose card for HD purchases, the finance rate is oppressive. If these features are valuable, then by all means go for it.
Author: TomfromCT
Posted: Thu Jul 06, 2006 9:11 pm
Post subject:
The home despot card is nice becasue you get specials mailed to you. As for regular purchases - I never use it, I use a rewarda card EXCEPT when they give the 12 months no interest deal and then I use it for that.
It is a limited use tool but still nice to have.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sat Jun 24, 2006 3:56 pm
Post subject: Home Depot - Citibank Card
I just rec'd a pre-approved offer in the mail for a $ 4000. Home Depot card from Citibank. Does anyone have any experience with this card ? I just opened two cards in May, AMEX (5600 limit) and Chase Flexible Rewards, and got an American Eagle card with my daughter. I do not have any balances right now, other than $800. on the Chase card with a 4000. limit (0%) .
I am on the fence as to whether I want to open this account. It took me years after my divorce to get my credit score to ~ 725.
I would appreciate any advice or comments that anyone has.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: cameron
Posted: Sat Jun 24, 2006 5:16 pm
Post subject:
Chase has a card where you get 3% cash rebates at stores like home depot. WHy not get that one instead.
author: Pale Rider
Posted: Sat Jun 24, 2006 6:16 pm
Post subject:
I qualified with a much lower score, so you should have no problem. They give regular CLI's. The best thing is the 6 or 12 month no payment/no interest promotions.
Author: fire3000
Posted: Sat Jun 24, 2006 8:25 pm
Post subject: HD Card
Accepting this card will not have a negative effect on your score if you PIF. Your offer should say that you are entitled to 10% off your first purchase at Home Depot using the card. If you do not shop HD often and can not spend at least $500 in one visit there, then I recommend that you ask Citi to approve you for their regular rewards card instead and at the same 4K credit limit.
Author: jrjdrayer
Posted: Wed Jul 05, 2006 7:25 pm
Post subject:
I just got another mailing from Home Depot, extending my pre-approved offer through August 12th, telling me to bring it to the store for instant activation with a guaranteed $ 4000 credit line ! Still haven't made a decision about whether or not I want it.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: hdporter
Posted: Thu Jul 06, 2006 1:39 am
Post subject:
You clearly don't have a pressing need to establish more credit for the sake of a higher credit score.
Unless you expect to take advantage of occasional 0% extended payment offers for Home Depot purchases or periodic 10% off coupons, I suggest passing on the card. As a general purpose card for HD purchases, the finance rate is oppressive. If these features are valuable, then by all means go for it.
Author: TomfromCT
Posted: Thu Jul 06, 2006 9:11 pm
Post subject:
The home despot card is nice becasue you get specials mailed to you. As for regular purchases - I never use it, I use a rewarda card EXCEPT when they give the 12 months no interest deal and then I use it for that.
It is a limited use tool but still nice to have.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 7:02 PM
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