Reply
Established Contributor
Posts: 504
Registered: ‎03-27-2009

Home Depot Store Card (Good news (ish)) Deferring Interest on Balance

So my husbands interest rate went up to 26.99% - yuck.

 

His credit scores have improved, i made more than minimum payments $2000 balance on $2500 limit.

 

Called them today and they told me nope, no interest rate reduction that was the best rate available to me.  Asked to speak to another manager and they said the same thing - however when I explained I was trying to buy a house and wanted to be able to use this card when we had but had to get the balance down somehow they did a great thing for me. 

 

Basically they have a thing where any purchase over $299 has no payments and defers interest for 12 months... she put the whole bill on that.  Now granted if i don't pay it back within a year then all the interest will be added to the account but as long as it is paid within a year of today then there will be no interest.  $180 a month with nothing going to interest seems a lot better than $150 a month with $50 of that going in interest payments.  As long as we stay on schedule it should mean that we will save about $600 in interest 

Established Contributor
Posts: 645
Registered: ‎10-24-2007

Re: Home Depot Store Card (Good news (ish)) Deferring Interest on Balance

Congratulations...sometimes the squeaky wheel...
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.