Home Depot Fiasco

[MitchDeerfield]

I don't shop at Home Depot very often, but they had a good sale on a Garage Door Opener and Installation for $308.   They offered me a $50 discount if I applied for a new HD credit card and spend over $300.   I thought what the hell, I could use the easy $50 and got the card along with its hard credit hit.  I usually hold out for $200 to get a new card, otherwise it's just not worth the bother.

But HD only credited me $25 because they said their installation fee didn't qualify as a qualified purchase.

A lousy $25 credit in exchange for a hard credit pull on my file.   Even worse I would have gotten $9 credit if I had used my BofA card instead, so a net benefit of only $16.  In  exchange for a card I will probably not use again.  Please learn from my mistake.

Woe is me!

[FicoMike0]

Did you get the card?

[coldfusion]

Sorry you found out the hard way, it does sound to me like you were misled by the store associate.   Their discount promos and coupons typically do have an exception list in the fine print which among other things (mostly specific product brands) lists gift cards, tool rentals, and installation products or services in-home for which the offer doesn't apply.

They do have targeted 10% off (no minimum spend requirement) and 12/24 month 0% APR promotional offers for existing cardholders fairly regularly, so there is that if you do decide to hold onto the card.

[FicoMike0]

I had a similar experience at best buy that worked out much better. I was making a $1000+ purchase and the clerk offered that I could get $100 for applying for their card. I didn't want another card at the time and had my reports frozen. I commented that id probaly be turned down. He replied that it made no difference, I'd get the $100 anyway, just for applying. I Did and of course was not approved. I got the $100.

[Baha3]

Look at the bright side, hopefully you got a decent limit, you can always use the special financing to break down a larger purchase if needed

[MitchDeerfield]

FYI, my new Home Depot card gives me zero cashback on any Home Depot purchases.

My existing Discover Card is currently giving me 5 percent cashback!

I am cancelling this useless  HD card later today, as soon  as I get it in the mail.

[Gregory1776]

I just canceled mine. I used it last summer for an AC  I financed, and hadn't used it for years before. It is my oldest card and the guy who I talked to tried to convince me to keep it but I don't need it, the limit was 5K ( they reduced it years ago) and I'll just use a regular card, if I had some tough times and missed a payment or something the interest rate would be charged from the purchase date - potential putting you in a **bleep**ty spot.those kind of cards and banks I do not like. Grimy.

[FishingGuy]

I like the HD /Citi card......and use it often since I was doing a lot of work on my house over the last two years.....  I have used it for..... new windows & doors, new flooring, new kitchen design & cabinets, new stone countertops & tile backsplash, all new appliances & lighting to list some of the major items. 

I have used it for smaller items such as propane gas grills, new lawn mower....  miscellaneous garden and household items and many other things. I take advantage of the frequest choice between a 10% discount.... or a 12- 24 month interest free payment option.

If you're doing or plan on doing work on your home..... it's a great addition to have..... if not,  it will probably just stay in the sock drawer....

and would be a waste to have.

[SouthJamaica]

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@MitchDeerfield wrote:

FYI, my new Home Depot card gives me zero cashback on any Home Depot purchases.

My existing Discover Card is currently giving me 5 percent cashback!

I am cancelling this useless  HD card later today, as soon  as I get it in the mail.

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Don't close it until you've paid it off.