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The Home Depot Commercial Credit Card

Written by Banks Editorial Team

Updated May 29, 2023​

3 min. read​

home depot commercial credit card

Suppose you are a contractor, and you are finding your cash flow can sometimes be challenging. In that case, you probably need a credit solution like the Home Depot commercial credit card to finance your construction materials.

Let’s say a customer hasn’t paid for work completed yet; then, you might not have the cash on hand to start another project. In these cases, a way to finance materials and other upfront costs until you are paid can help you grow your business. As one of the largest suppliers of building materials, many contractors spend a lot of time at Home Depot. It makes sense then to consider using the Home Depot commercial credit card to provide that material credit you need. We’ll examine how the Home Depot commercial credit card works and look at some alternatives.

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The Home Depot Commercial Credit Card

Nearly every large retailer partners with a lending institution to provide credit cards to their customers. Home Depot is no exception. The company offers a number of solutions for both consumers and commercial businesses to get credit in the store. If you are a contractor looking to take out a credit card for your construction business, you will have two types of Home Depot commercial credit cards:

  1. The Home Depot commercial revolving charge card.
  2. The Home Depot commercial account card.

Let’s take a look at the two options and see how they differ.

Home Depot Commercial Revolving Charge Card

When you opt to get a Home Depot revolving charge card, you’ll have the option of paying a minimum payment or paying the balance in full each month. Like other credit cards, the credit limit Home Depot will extend to you will depend on your creditworthiness. The minimum amount for a Home Depot revolving charge card is $500, though, with good credit, your limit could be much higher. The card has no annual fees associated.

Home Depot Commercial Account

Home Depot’s commercial account card functions differently than a standard credit card. There is no annual fee or APR on purchases made with the card, but the total amount must be paid back within a specific time frame. You can choose whether that time frame is 30-days or 60-days. However, failure to pay back the amount on time will result in hefty penalties. This makes the Home Depot commercial account a good option if the cash flow of your business moves quickly but riskier if it doesn’t.

What is a Home Depot Business Account?

A Home Depot business account is a credit offering for commercial contractors and other businesses who frequently purchase materials from Home Depot. As a business account, it allows several people to be authorized to make payments using the card attached to it. However, some limitations only allow the account holder to make major decisions about the card. Like most retail credit accounts, the Home Depot offerings are backed by an established financial lender. Currently, Home Depot is using Citibank as its lending partner.

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Alternatives to the Home Depot Commercial Credit Card

There are, of course, other options for keeping your business funded than the offerings of Home Depot. Even with excellent credit, the APR of the Home Depot revolving charge card is fairly high. And not every business is going to have the confidence in their cash flow to opt for the commercial account card, with its requirement to pay the full balance off so quickly. For those businesses, particularly those with good credit, there are other credit card providers that might be better options.

  • American Express Blue Business Cash Card: If you look at most lists of the top commercial credit cards, this one will be at the top of it. That’s because it’s one of the few cards targeted at small to medium-sized businesses that offer a cashback program with no annual fee. The card offers 2% cashback and has a competitive APR.
  • Capital One Spark Business Cards: There are several cards in the Capital One Spark family. To get the same 2% cashback that the AmEx Blue card offers, you’ll need to pay Capital One an annual fee of $95. They do, however, offer a 1.5% cashback card without a yearly fee. There’s also a card with no annual fee and 1% cashback for businesses with lower credit ratings.

Alternatives to Commercial Credit Cards

Sometimes, a card isn’t the best option for your business. Thankfully, there are now several other ways for a business in need to get the working capital required to start on the next job and keep the money flowing. These methods vary wildly in their benefits and drawbacks, so any business looking to take advantage of one of them should do their due diligence when doing so. Below are some offerings by trusted brands.

  • PayPal Working Capital Loan — If you accept PayPal for payment, you’ve certainly seen the PayPal working capital loan advertised to you. This loan is attractive because, like other non-bank lending options, it doesn’t require a credit check. They also don’t charge interest, opting instead of a single fee. However, that single fee can often add up to more than interest, so contractors should carefully weigh the math when considering this method.
  • CapitalPlus Contractor Factoring — CapitalPlus is one of the largest factoring companies. Factoring is a process that allows you to borrow against your accounts receivable. Essentially, you’ll sell your unpaid invoices to the factoring company at a discount, and they’ll give you the cash you need to purchase materials. Like the PayPal option, contractors should look carefully at how the math works out on this one, as factoring is often a costly way to get working capital.
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