topic Re: HD-preselected offer in Credit Cards

HD-preselected offer

Duncanrr — Wed, 30 Oct 2013 00:35:44 GMT

Just got preselected offer from Home Depot. The apr is 25%. Really? No thanks

Re: HD-preselected offer

myjourney — Wed, 30 Oct 2013 01:08:43 GMT

@Duncanrr wrote:
Just got preselected offer from Home Depot. The apr is 25%. Really? No thanks

Must be targeted offer I think it use to be a higher APR

Re: HD-preselected offer

coldnmn — Wed, 30 Oct 2013 01:15:02 GMT

Not hard to stay in the garden with those terms.

Re: HD-preselected offer

Duncanrr — Wed, 30 Oct 2013 01:22:13 GMT

I cut it up in little pieces and mailed it back to them. That offer was almost as bad as fingerhut.

Re: HD-preselected offer

Creditaddict — Wed, 30 Oct 2013 03:42:51 GMT

Very few store cards have lower!

You get them for the instant discount or the 0% periods not the revolving apr

Re: HD-preselected offer

Duncanrr — Wed, 30 Oct 2013 03:44:58 GMT

True but 25% apr is insulting. It's a great rebuilder card. I just don't need it 18 months into rebuild. They missed the boat.

Re: HD-preselected offer

Creditaddict — Wed, 30 Oct 2013 03:49:01 GMT

Home Depot = rebuilder??? No!!!

Macys is 29.9
CareCredit is 26.99 or maybe more
Lowes is 24
Name a store that is lower that is store card only?? Many of the co brand have lower - SAMs discover, lowes Amex, etc.

Re: HD-preselected offer

Anonymous — Wed, 30 Oct 2013 13:28:23 GMT

My hd is high at 26.99%. But it's also my highest cl at $7500. I use it for 0% deals.

Re: HD-preselected offer

takeshi74 — Wed, 30 Oct 2013 13:34:38 GMT

It's not uncommon for store cards to have generally higher APR's. If you read the terms for the HD card:

Annual Percentage Rate (APR) for Purchases 17.99%, 21.99%, 25.99%, or 26.99%, based on your creditworthiness.

It's not just the card but your credit as well. At least you're not at the worst tier.

Re: HD-preselected offer

Duncanrr — Wed, 30 Oct 2013 13:36:35 GMT

@Creditaddict wrote:
Home Depot = rebuilder??? No!!!

Macys is 29.9
CareCredit is 26.99 or maybe more
Lowes is 24
Name a store that is lower that is store card only?? Many of the co brand have lower - SAMs discover, lowes Amex, etc.

I thought that HD was backed by GE. After looking into it, Ive noticed it was Citi. So while not a rebuilder in the strict since, its not the product I want to get from Citi. I dont shop enough at HD to make the 0% offers worth it.

Re: HD-preselected offer

09Lexie — Wed, 30 Oct 2013 19:04:56 GMT

Lowes is backed by GE.

Re: HD-preselected offer

SunriseEarth — Wed, 30 Oct 2013 19:24:22 GMT

@Duncanrr wrote:
Just got preselected offer from Home Depot. The apr is 25%. Really? No thanks

Well, good for you. Many people take credit that they don't need or can't use.

FWIW, half of my current CCs have higher APRs than 25%. That type of interest rate is the nature of the beast with store cards and rebuilder cards. If HD had special financing details of if you needed a TL for household emergencies, then this TL might be worth it post-rebuild. Otherwise, throwing it out was a good move.

(Edited "most" to "half", as 4 of 8 cards in my siggy have an APR >25%)