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Does anyone out there have any info regarding the home depot project credit account? I was wondering what scores are needed, if there must be a mortgage on record, or any general thoughts from anyone who has applied for this. Any info would be helpful. Thanks.
@Anonymous wrote:Does anyone out there have any info regarding the home depot project credit account? I was wondering what scores are needed, if there must be a mortgage on record, or any general thoughts from anyone who has applied for this. Any info would be helpful. Thanks.
they are not very inq friendly.
don't know about scores.
@Anonymous wrote:Does anyone out there have any info regarding the home depot project credit account? I was wondering what scores are needed, if there must be a mortgage on record, or any general thoughts from anyone who has applied for this. Any info would be helpful. Thanks.
I do have a Home Depot Project Loan acct. I applied back in 8/15 when I basically have no credit history, collections, tax liens on my report, and 1 secured credit card. My score was in the low 600s then. I was only approved for $13K, no mortgage loan on my name. I think it's pretty good with a fixed 7.99% APR and 82 months to pay. Used the loan to build my deck. I plan to have it paid off way before that though.
I think it's very good unless you have good to excellent credit and have credit lines on your credit card(s) with more competitive APR. My credit then was pretty bad. Also, another good thing with this, it's an installment loan. It counts a lot to the type of credit on your credit report.
Good luck
Thanks for sharing this valuble information with us. I always wondered how it
would be offered.
There is a max of $40K on the Project Loan. I just applied on the website for the 40K and they can only approve me for $15K (I thought it was 13K). Then you have the option to accept or decline. They will then send email you the paperworks to sign and fax back to them if you accept the terms.
I would also look at Lowe's if you have it in your area, Synchrony bank is more accepting than Citi.