topic Re: Home Depot pre-approval. in Credit Card Applications

Home Depot pre-approval.

Anonymous — Sun, 10 Jun 2018 05:24:05 GMT

I just got a Home Depot pre-approval, and while i don't really need the card, it is Citibank. Does anyone know if this is a way to get your foot in the door with Citibank?

Re: Home Depot pre-approval.

Brian_Earl_Spilner — Sun, 10 Jun 2018 05:28:59 GMT

It'll get you a second foot out the garden.

I have no idea, but Citi doesn't care about relationships according to their executive office team.

Re: Home Depot pre-approval.

Anonymous — Sun, 10 Jun 2018 05:40:39 GMT

@Brian_Earl_Spilner wrote:
It'll get you a second foot out the garden.

I have no idea, but Citi doesn't care about relationships according to their executive office team.

The EO team told you that?

Re: Home Depot pre-approval.

Anonymous — Sun, 10 Jun 2018 05:42:42 GMT

There are 2 types of Citi card divisions: retail (ex HD) and legacy (ex DC). The retail division is far easier to enter than the legacy division.

I cant say it won’t help with getting in with the legacy, but I also can’t say for certain it will help. 🤷🏽‍♀️

Re: Home Depot pre-approval.

Anonymous — Sun, 10 Jun 2018 05:45:40 GMT

@Anonymous wrote:
There are 2 types of Citi card divisions: retail (ex HD) and legacy (ex DC). The retail division is far easier to enter than the legacy division.
I cant say it won’t help with getting in with the legacy, but I also can’t say for certain it will help. 🤷🏽‍♀️

Thanks, i didnt know about all that.. I thought it would be like my Skymiles card, got me in with Amex and now i have a pre-approved for everything including the Plat i want.. still working out the 550 AF in my head tho LOL

Re: Home Depot pre-approval.

Anonymous — Sun, 10 Jun 2018 05:49:37 GMT

The interest rate is terrible. No rewards points. The only good thing is 6 ,12, or 24 month interest deals. They give me a great limit then I go a raise to $10K for a card i hardly use. I got this for buying an item that has been on back order for over 6 months and wanted the 0% rate.

Re: Home Depot pre-approval.

Anonymous — Sun, 10 Jun 2018 05:52:45 GMT

@Anonymous wrote:
The interest rate is terrible. No rewards points. The only good thing is 6 ,12, or 24 month interest deals. They give me a great limit then I go a raise to $10K for a card i hardly use. I got this for buying an item that has been on back order for over 6 months and wanted the 0% rate.

Yeah, i pretty much avoided store cards for that very reason. I thought since it was Citibank it would help with a DC later on, but i did like the idea of the 6/12/24 mo option too. I didnt get a great SL as shown below, but i guess we'll see what happens.

Re: Home Depot pre-approval.

Brian_Earl_Spilner — Sun, 10 Jun 2018 06:05:15 GMT

@Anonymous wrote:
@Brian_Earl_Spilner wrote:
It'll get you a second foot out the garden.

I have no idea, but Citi doesn't care about relationships according to their executive office team.
The EO team told you that?

Yes. The only thing they care about is your scores and reports.

Re: Home Depot pre-approval.

UncleB — Sun, 10 Jun 2018 07:18:26 GMT

@Anonymous wrote:
@Anonymous wrote:
The interest rate is terrible. No rewards points. The only good thing is 6 ,12, or 24 month interest deals. They give me a great limit then I go a raise to $10K for a card i hardly use. I got this for buying an item that has been on back order for over 6 months and wanted the 0% rate.
Yeah, i pretty much avoided store cards for that very reason. I thought since it was Citibank it would help with a DC later on, but i did like the idea of the 6/12/24 mo option too. I didnt get a great SL as shown below, but i guess we'll see what happens.

FWIW I've never been pre-qualified/pre-approved for anything with Citi - including the HD card - and I was able to get approved for the Diamond Preferred back in 2016.

Interestingly, the last time I checked I still get nothing on the HD prequal site.

Re: Home Depot pre-approval.

AverageJoesCredit — Sun, 10 Jun 2018 13:32:25 GMT

Jago, although it probably doesnt matter to their EO as alluded to by Broke, I feel my getting my BB card and using it responsible started opening more CITI doors like Sears or DC. It could be all hogwash of course.

Lol I need to use my HD, haven't used it close to a year. But like mentioned might be good for special financing deals. I wouldnt wsnt to carry a balance on this card though unless on 0%

Re: Home Depot pre-approval.

pipeguy — Sun, 10 Jun 2018 15:19:59 GMT

I can attest that getting in the door with CitiBank using their "backed cards" such as Home Depot will have zero effect (at least for me) on getting one of their branded cards - other than having an overall credit history. I have been approved for many Citi-backed cards with various credit limits from fairly small ($1k) to fairly large ($25k - HD). All but one of these I've ended up closing due to high APR and better options. Citi will NOT approve me for a primary Citi-branded card, end of story period. I have no idea why, but they will approve the DW and since the only one "we" wanted was the Costco-Visa, we have it. Even with a perfect history of using an HD $25k CL card, Citi won't issue me a branded card - go figure.

As far as high apr HD and Lowes cards, I have both and find them to be very valuable for extended 0% or low apr financing (or) 5% back instantly. I always PIF for any everyday purchases, but I regularly use 6 months 0% offers and have used several times low interest "project" offers - most notably a $10k new roof for 84 months at 2.99% which I paid off in about 30 months.

IMO for a homeowner, Lowes and HD "store" accounts are very useful if managed correctly.