If your cozy home needs a bit of a makeover you don't have the cash for, you might want to check out a Home Depot credit card. Whether you want to give your interior a new look or increase your home value for future sales, it is a worthy investment.
Home Depot Project Loan Card is designed to respond to the financial end of your home improvement dilemmas. Working as in-store financing, the card helps you buy what you need from Home Depot and then you pay through fixed, low monthly payments.
If you’re looking for a way to make your home improvement project come to life, you may want to give a quick look at this financing option. To help you with that, here is a rundown of everything you need to know about the Project Loan Card.
Project Loan Card – Features and Benefits
Created to assist homeowners in their home improvement projects, Home Depot’s Project Loan card combines the convenience of a line of credit and a term loan into a single offer. Specifically, using the card, users will get to borrow up to $55,000 to purchase project materials.
Cardholders can make all the necessary purchases, in-store or online, within six months of application approval. Within the said period, users will only need to make interest payments. Soon, once the purchase period is up, they will then repay the loan in fixed instalments.
Specifically, this could be done in four ways, with term and APR subject to qualifying credit approval. Depending on which tier the customer qualifies, he can pay the debts at a minimum period of 66 months to a maximum period of 114 months.
On top of that, anyone can apply for a Project Loan with a co-applicant. This means that customers can have the option to share their costs with someone else. The card also comes with $0 annual fee and requires no down payment.
Project Loan Card Application Requirements
To be eligible for the Project Loan Card, Home Depot requires that you must be over 18 years of age, a US citizen or a permanent resident, and have a credit score of at least 600.
If you meet these criteria, you can proceed by visiting the Home Depot official site. From its Home Page, select the “Credit Services” option, and look for the Project Loan card. Click the “Apply Now” button located beneath the title of the card and provide the needed details being asked in the application form.
Once done, click “Continue” to submit. Result will usually arrive after a few minutes.
Project Loan Fees and Charges
- Annual Fee: $0
- Loan amounts: $2,500 to $55,000
- APR: 7.42% APR for 66 monthly payments; 12.86% APR for 78 monthly payments; 16.24% APR for 90 monthly payments; 19.96% APR for 114 monthly payments
- Monthly payments: Will not exceed $20 per $1000 spent
Home Depot Contact Info and Address
Still have inquiries? To know more, contact Home Depot at 877-476-3860.
You can also visit them at their Corporate Office located at 1 Concorde Gate #400, North York, ON M3C 4H9, Canada.
The Bottom Line
Can’t wait to give your home the glow-up it deserves? If you think that the Project Loan card suits your needs, you can visit the card website and find out more on how it can help your bottom line.
Disclaimer: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.
