Pre-Selected Home Depot Consumer Credit Card

[2b2rich]

Are these usually good indicators for approval?  '..prescreened offer of credit is based on information in your credit report indicating that you meet certain criteria...'

I wasn't looking for another card, but Home Depot is about 20 miles closer to me and there are things I need for the home I just bought that they seem to be competitive with Lowes (who I have a $10K CL with), so I would make the exception if I was pretty certain it wouldn't be a wasted HP..

[Anonymous]

Is this from their online approval check, or a mailer you received? Does it specify an interest rate, or show a range?

[2b2rich]

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@Anonymous wrote:

Is this from their online approval check, or a mailer you received? Does it specify an interest rate, or show a range?

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(sorry, I got busy trying to get the aquariums set up before the fish went belly up)

It came in the mail. Shows that I can apply online, mail it back, or take it to any Home Depot.  APR on the app is 25.99%, but also an offer of no interest for 18months if paid in full.

[Anonymous]

I have received 3 from home Depot this month. I went to the website and completed the pre-qualifier and it showed that I was pre-qualified. I didn't proceed and a couple hours later received an email again saying I am pre-qualified with an invitation code good through the end of December.  I have also received a few mailers from citibank with a pre-qualification offer for the diamond preferred card.

[Anonymous]

DW got prescreened letter in mail too. Instantly approved for $2000. Scores comparable to mine in the low 700's.

[2b2rich]

Oh well, I bit the hook and was instantly approved but for only $500.  (probably because I have so many new accounts already and a gazillion inquiries in the past 8 months).  

Just closed on my house, refinanced two vehicles, and have plenty of available credit for the time being so I will be in the garden atleast until Spring, at which time most of these things will be a year old and I can hit them up for a CLI.

[Creditaddict]

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@2b2rich wrote:

Oh well, I bit the hook and was instantly approved but for only $500.  (probably because I have so many new accounts already and a gazillion inquiries in the past 8 months).  

Just closed on my house, refinanced two vehicles, and have plenty of available credit for the time being so I will be in the garden atleast until Spring, at which time most of these things will be a year old and I can hit them up for a CLI.

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call for recon CLI and ask for $25k... they are great about instant recon CLI just like Lowes.

[Jerry45]

The APR is brutal. I could get a better interest rate form a loanshark

[Creditaddict]

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@Jerry45 wrote:

The APR is brutal. I could get a better interest rate form a loanshark

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you use it for the 0% not to carry a balance at regular APR

[Jerry45]

True CA, just thought I would put it out there. I did the Pre Qual at HD, and they showed a 25.99%. Ouch