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Home Depot Business Credit Card: Do You Need It?

Brayden McCarthy

Brayden is Fundera's credit cards expert. He's passionate about helping businesses take advantage of the best credit card offers on the market, from the longest 0% intro APR periods to the richest cash back and travel rewards bonuses.
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If you’re in the construction, home improvement, or home design business, you’ve doubtless stopped in at The Home Depot to pick up your essential supplies. You probably found some supplies you didn’t even know you needed, too. (Cotton candy carts are crucial to a well-stocked pantry, right?) If you’ve made The Home Depot your second home, and you’ve dumped a second-home-sized budget into the home-improvement superstore, you might want to think about picking up a Home Depot business credit card on your next visit.

Actually, there are two Home Depot business credit cards: a Commercial Revolving Charge Card and a Commercial Account card. Both financing solutions give cardholders a line of credit at the store, and access to the store’s professionals-only loyalty program.

Here, we’ll tell you the most important things to know about The Home Depot business credit cards. We’ll also give you a few alternative business credit cards to consider, in case you’re looking for more power, flexibility, and rewards than what The Home Depot business credit cards can offer.

We can’t promise this will be as thrilling for you as finding the right warm midtone blue shade for your client’s living room, but it will be perhaps just as valuable, so let’s get to it.   

An Overview of The Home Depot Business Credit Card

The Home Depot offers two business credit cards: a Commercial Revolving Charge Card and a Commercial Account card. These cards offer the same perks and rewards—the only major difference is in their fee structures. But we’ll get into those details later. For now, let’s go over the two Home Depot business credit cards’ commonalities.  

First off, both of The Home Depot business credit cards offer the following perks:

  • No annual fee
  • Online bill pay and account management
  • Attach up to 4 additional cards to your account
  • 1 year to make returns (4X the length of Home Depot’s usual return policy)
  • Purchase tracking, plus the ability to approve employee purchases via text
  • Itemized purchase statements for easier tax preparation

But the major reason to sign up for either Home Depot business credit card is for your automatic enrollment in the Pro Xtra Program. It’s the store’s professionals-only rewards program, which gives members access to exclusive discounts, coupons, in-store benefits like reserved pro parking, and the guaranteed lowest prices on large-volume orders.

Either card also enrolls you in the Pro Xtra Paint Rewards program, which (you guessed it!) earns you discounts on paints, stains, and primers, plus additional paint-related perks like free job-site paint delivery.

The other major reward attached to the Home Depot business credit cards is the Fuel Rewards Program. If you choose to participate, you can earn $0.10 in gas savings, per gallon, on every $100 of qualifying purchases at The Home Depot. You’re limited to 20 gallons of fuel per purchase per vehicle.

And for the final major feature: If you sign up for either Home Depot business credit card, you’ll have the option of choosing between a 30- or 60-day billing cycle. So, if you plan on making large purchases, you can opt for the two-month cycle and take your time paying down your balance without incurring interest.

home-depot-business-credit-card

A Closer Look at The Home Depot Commercial Revolving Charge Card Fees

There aren’t variations in features or capabilities between The Home Depot’s two business credit cards. Really, the differences are in their fee structures.

Let’s start with the Commercial Revolving Charge Card.

It’s called a “charge card,” but The Home Depot’s Commercial Revolving Charge Card works more like a true credit card. Like your standard business credit card, you have the option of making a minimum monthly payment or paying your balance in full every month.

The Home Depot determines your credit line based on your personal creditworthiness, but credit lines on Commercial Revolving Charge Cards might be as low as $500. (Charge cards, on the other hand, require cardholders to pay off their full balance every billing cycle, and they have no predetermined spending limit.)

Now for the good stuff: the fees!

Luckily, the Home Depot Commercial Revolving Charge Card carries no annual fee. That’s a great feature! But be advised: If you don’t make at least the minimum monthly balance, your remaining balance will be subject to a hefty 21.99% purchase APR (but it’s 15% if your billing address is in Georgia or North Carolina at the time of card sign-up).

And if you default on your payments, you’ll trigger the default APR of 26.99%, or 20% if you’re in GA or NC. Late payments are subject to a $38 fee, but you do get a grace period of at least 20 days if you regularly pay your balance in full every month.

A Closer Look at The Home Depot Commercial Account Card Fees

On the flip side, The Home Depot’s Commercial Account card is actually more like a charge card than a credit card. There’s no set APR or minimum monthly payment on this card, because you’re expected to pay off your balance in full every billing cycle.

If you don’t repay your balance in full, though, your APR will automatically switch to the super-high penalty APR. Late payment fees are $20 for balances under $100, or $35 on balances of $100 and over. So, if you opt for the Commercial Account card, you need to be absolutely sure you can pay down your balance every month so you’re not hit with hefty penalties.

Alternatives to The Home Depot Business Credit Cards

If you’re a true Home Depot loyalist, either of The Home Depot business credit cards is worth your consideration. But if you’re not tied to The Home Depot, look into other business credit cards that give you more flexible rewards, better employee-management capabilities, and more saving power.      

For Tracking Employee Spending: Bento for Business

If you’d like the option of giving more than just four employees spending abilities, consider signing up for the Bento for Business. This prepaid business credit card has even greater employee tracking and managing features than The Home Depot’s business credit cards do.

Through Bento’s app and dashboard, you can create as many employee cards as you need, set and adjust spending limits across cards, easily track spending behaviors, and integrate your business accounting software.  

You’ll load up your Bento’s credit line by transferring your own funds from your business bank account onto your card, so this isn’t a traditional business credit card. But the Bento is a great tool for managing employee spending. Use it on its own, or in tandem with another business credit card.  

For a Longer Saving Period and Flexible Rewards: American Express SimplyCash Plus Business Credit Card

One of the major drawbacks of The Home Depot business credit cards are that they don’t come with any introductory perks or special financing offers. Consider the American Express SimplyCash Plus Business Credit Card instead. At 15 months, it has one of the longest 0% intro APR periods on the market. That’s an amazing introductory perk and a financing solution all in one.

Do be aware, though, that your 0% APR period only lasts for the first 15 months after you open your account; after that, a variable APR sets in at a rate depending on your creditworthiness. This rate will also vary with the market, so you’ll have to check the issuer’s terms and conditions for the latest APR information. However, there’s a good chance that your APR won’t be nearly as high as the hefty APR on The Home Depot business credit cards.

Like The Home Depot business credit cards, the Amex SimplyCash Plus card has no annual fee. What it does have, though, is a great rewards program: You’ll get either 5% or 3% cash back on purchases in qualifying categories, as well as 1% cash back on every dollar you spend, wherever you spend (including The Home Depot!).    

home-depot-business-credit-card

Should You Get a Home Depot Business Credit Card?

If you’re in the construction, home design, or house-flipping business and buy all, or the vast majority, of your supplies at The Home Depot, it’s definitely worth considering The Home Depot’s Commercial Revolving Charge Card and Commercial Account cards. You just need to sort through the cards’ pros and cons.

The Home Depot Business Credit Card: The Pros

The real perk of using a Home Depot business credit card is your automatic enrollment in the Home Depot Pro Xtra Program, which gives you access to certain discounts and rewards. Participation in their Fuel Rewards program can also shave some cash off your gas spend.

Another major draw for the Home Depot business credit cards is that neither card carries an annual fee. They also offer a generous 60-day billing cycle, so you’ll have extra time to pay off your balance without worrying about incurring a harsh APR on your balance.

And if you’d like to delegate spending to your employees, and track them while they do it, the Home Depot business credit card lets you do that. You can only authorize four users per account max, though.

So, if you have a bigger team, and want even more spending controls, consider picking up a card like the feature-laden Bento for Business. You can even use the Bento, or any other prepaid card you like, right alongside a true business credit card (whether that’s a Home Depot business credit card or not).

The Home Depot Business Credit Card: The Cons

We’re not kidding when we say that APR is harsh: At 21.99% (except if you’re in GA or NC), the Home Depot’s business credit card interest rate is a lot higher than you’d find on many other business credit cards on the market. And the default APR is even tougher. So, if you anticipate carrying a balance, you might want to check out a 0% intro APR business credit card instead.

Unlike other store cards, you won’t get a flat percentage discount off purchases with your Home Depot business credit card, and it offers no introductory perks or financing solutions.

And some of the best store cards can earn you cash back or statement credits on purchases—the Home Depot’s credit cards can’t. That is, they can’t unless you’re a professional trade organization member (including the NAA, IEC, NARI, NREIA, and USC), in which case you do have the opportunity to earn certain cash back rebates.

But if cash back is your thing, and you’re not an organization member, you might want to set your sights on a true cash back business credit card.

In all, you should absolutely consider picking up a Home Depot business credit card if you’re diehard about this particular home improvement store—and if you’re positive that you can pay off your card’s full balance in 60 days.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Brayden McCarthy

Brayden is Fundera's credit cards expert. He's passionate about helping businesses take advantage of the best credit card offers on the market, from the longest 0% intro APR periods to the richest cash back and travel rewards bonuses.

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