What Credit Score Is Needed For a Home Depot Credit Card?

Whether you’re doing your own home improvements or you’re a contractor who makes frequent visits to the Home Depot Store, you will benefit greatly from opening a home depot credit card. That said, we often get asked what credit score is needed for a Home Depot Credit Card? We will answer this question in much detail below.

What Credit Score Is Needed For a Home Depot Credit Card?

Consumers have reported that a credit score of 640 or higher is needed for you to get a Home Depot Credit Card. That said, some users have reported that they were approved for a Home Depot Credit Card with a 600 credit score. If you’re unsure about whether you will be approved for a Home Depot Credit Card, Home Depot’s website gives you the ability to check whether you’re pre-approved for their credit card prior to applying.

If you’re pre-approved before applying, you will likely be approved if you apply for the credit card. Checking to see whether you’re preapproved for the Home Depot Store Credit Card does not affect your credit score because a soft inquiry is placed on your credit report. Soft inquiries do not hurt your credit.

That said, if you choose to apply for the Home Depot Credit Card, a hard inquiry will be placed on your credit report. A single hard inquiry can lower your credit score by 5 to 10 points, however, this impact is negligible and your credit score will likely quickly recover from the point drop.

Does Checking Whether You’re Pre-approved for the Home Depot Credit Card Affect Your Credit Score?

No, checking to see whether you’re pre-approved for the Home Depot Credit Card does not affect your credit score because a hard inquiry is not added to your credit report. When you check to see whether you’re pre-approved for a home depot credit card, a soft pull is made to review your credit report. Soft pulls, commonly known as soft inquiries, have no impact on your credit.

Does Applying for the Home Depot Credit Card Affect Your Credit Score?

Yes, applying for a Home Depot Credit Card can lower your credit score by a few points because a hard inquiry is added to your credit report when Home Depot’s partner Citi Banks reviews a copy of your credit report to make a decision on your credit application. If you’ve ever applied for a Home Depot Credit Card, you’ve probably noticed a hard inquiry labeled as “Home Depot CBNA” appear on your credit report. This is totally normal because Home Depot has partnered with Citi Bank to provide you with the Home Depot Credit Card.

That said, you should not worry too much about a hard inquiry as it may lower your credit score by a few points, and your credit score will recover fairly quickly after just a few months of responsibly using your credit card and paying it off on time.

Benefits of the Home Depot Credit Card

If you’re thinking about applying for the Home Depot Credit Card, here are some of the benefits of this credit card:

  • You can finance a purchase of $299 or more for 6 months
  • You can finance promotion item purchases for up to 24 months
  • You will be given 1 year to make returns on any item purchase from Home Depot
  • If someone makes an unauthorized charge using your Home Depot Credit Card, you’re not liable for such charges
  • $0 annual fee for the Home Depot Credit Card

Bottom Line

For you to qualify for the Home Depot Credit Card, you must have a fair credit score. Many consumers have reported that the Home Depot Credit Card requires applicants to have a minimum credit score of 640. That said, there are some reports of consumers with a 600 credit score being able to qualify for this credit card. If you’re unsure as to whether you’ll qualify for a Home Depot Credit Card, you can check whether you’ll be approved prior to applying for the credit card by heading over to the Home Depot Website. If you have any general questions or comments, please feel free to leave them in the comments section below.