The Home Depot credit card gives you a discount on your first purchase, then ongoing rewards on future spending
The Home Depot offers two credit cards: the Home Depot Consumer Card and the Home Depot Commercial Card. Both come with an introductory discount on your first purchase — typically 10% off, though the exact amount can vary by promotion. After that first purchase, you earn rewards points on everything you buy, which convert to dollars you can use in-store or online.
The discount applies to your entire first transaction, including sale items and clearance merchandise. You do not have to spend a minimum amount to get it. The card is issued by Synchrony Bank, and you find out whether you are approved when ready when you explore in-store or online.
Key Takeaways
- The Home Depot Consumer Card offers a first-purchase discount (usually 10% off) plus ongoing rewards points on all purchases.
- You earn rewards at different rates depending on what you buy: faster on Home Depot purchases, slower on purchases outside the store.
- Rewards points expire after 24 months of inactivity on your account, so you need to use them or lose them.
- The card charges interest on unpaid balances, so carrying a balance costs you money even though the rewards rate is decent.
- You can use your rewards as a statement credit, a Home Depot gift card, or a check mailed to your home.
How the first-purchase discount actually works
When you open a Home Depot credit card account, the discount applies to your first purchase only. You do not need to enter a code or ask a cashier to set up it — the discount is automatic when you swipe or tap the card. It covers your entire purchase, including items already on sale, and there is no minimum spending requirement.
The discount is not a coupon you can combine with other offers. If Home Depot is running a promotion that gives you a percentage off certain items, you get one or the other, not both. The first-purchase discount is usually the better deal, so it typically wins.
The discount expires after a set period — usually 60 to 90 days from when your account opens, depending on the current promotion. If you do not use the card within that window, you lose the discount. Once you make that first purchase, the discount is gone and you move to the rewards program.
Rewards points: how fast you earn them and what they are worth
After your first purchase, every dollar you spend on the Home Depot credit card earns points. The rate depends on where you shop. At Home Depot stores and on homedepot.com, you earn 5 points per dollar. At other retailers, you earn 1 point per dollar.
Points convert to dollars at a fixed rate: 100 points equals $1. So 5 points per dollar at Home Depot means you earn 5% back on Home Depot purchases, and 1% back everywhere else. That 5% rate is competitive for a store card, though it only applies to Home Depot spending.
You can redeem points in three ways: as a statement credit applied to your card balance, as a Home Depot gift card, or as a check mailed to your address. There is no fee to redeem, and you can redeem as little as $5 worth of points at a time. Points expire 24 months after your last account activity, so if you do not use the card or redeem points for two years, you lose them.
Interest charges and when the rewards stop saving you money
The Home Depot credit card charges interest on balances you do not pay in full each month. The interest rate (called the APR, or annual percentage rate) varies by person and is based on your credit score. Home Depot does not publish a fixed rate, but Synchrony Bank typically charges between 17% and 27% APR on this card.
This matters because the rewards rate does not cover the interest cost. If you carry a $1,000 balance at 22% APR for one month, you pay about $18 in interest. Even if you earned 5% rewards on that $1,000 purchase ($50), you would still be down $32 after interest. The rewards only save you money if you pay your balance in full each month.
If you tend to carry a balance, the Home Depot card is not a good financial choice, even with the first-purchase discount and the rewards rate. A card with a lower interest rate or a 0% introductory APR period would cost you less over time.
Special financing offers and promotional periods
Home Depot frequently runs special financing promotions for cardholders. These typically offer 0% interest for a set period — often 6, 12, or 24 months — on purchases above a certain amount. The exact terms change by promotion and are advertised in-store and online.
These offers are separate from the first-purchase discount and the rewards program. If you may have access to for a promotional financing period, you can use it on top of earning rewards points. The key is to pay off the purchase before the promotional period ends. If you do not, the full interest rate kicks in retroactively on the entire balance.
Read the terms carefully before you explore. Some promotions require a minimum purchase amount, and some exclude certain product categories. Home Depot posts current promotions on their website and in-store, and Synchrony will show you the terms before you confirm your purchase.
Comparing the Home Depot card to other options
The Home Depot Consumer Card makes sense if you shop there regularly and pay your balance in full each month. The 5% rewards rate is solid for a store card, and the first-purchase discount is a genuine benefit. If you spend $2,000 a year at Home Depot and pay in full, you earn $100 in rewards — that is real money.
If you do not shop at Home Depot often, or if you carry a balance, a general rewards card is usually better. A card that earns 2% cash back on all purchases costs you nothing to carry (if you pay in full) and works everywhere. A card with a 0% introductory APR period is better if you know you will carry a balance for a few months.
The Home Depot Commercial Card is designed for contractors and business owners who buy in bulk. It offers higher rewards rates on commercial purchases and higher credit limits, but it is not available to personal shoppers.
How to use the card without overspending
A store card is designed to encourage you to spend more at that store. The rewards feel like information programs, but they only save you money if you were going to make that purchase anyway. If the card tempts you to buy things you would not otherwise buy, the rewards do not offset the extra spending.
Set a budget for Home Depot purchases before you open the card. Treat the rewards as a bonus on spending you already planned, not as a reason to spend more. Pay your balance in full each month — this is the only way the rewards actually save you money instead of costing you money in interest.
If you have other credit card debt, pay that off before you open a Home Depot card. A store card is a tool for people who are already managing their credit well, not a tool to help you get out of debt.
Frequently Asked Questions
Can I use the first-purchase discount on an online order?
Yes. The discount applies whether you shop in-store or online. If you order online, the discount is applied automatically when you check out with your Home Depot credit card. You do not need to enter a code.
What happens to my rewards points if I close the card?
You can still redeem points for 90 days after you close the account. After that, any remaining points expire. Redeem your points before you close the account if you want to use them.
Does the Home Depot card hurt my credit score?
Opening any credit card can temporarily lower your score by a few points because of the hard inquiry. Over time, the card can help your score if you keep the balance low and pay on time. Carrying a high balance or missing payments will hurt your score.
Can I transfer my Home Depot rewards to another store?
No. Home Depot rewards points can only be redeemed as statement credits, Home Depot gift cards, or checks. You cannot transfer them to another retailer or convert them to airline miles or hotel points.
Is there an annual fee for the Home Depot credit card?
No. The Home Depot Consumer Card has no annual fee. You can keep the account open and pay nothing if you do not use it, though remember that rewards points expire after 24 months of inactivity.