How to Know Which Home Depot Credit Card Suits Your Business

Credit cards are beneficial in many ways, especially when you are taking on a large project and do not wish to pour of the funds on the spot. However, it is easy to feel hesitant about signing up for a new credit card, and those doubts can be exemplified when you are not sure which kind of card for which you should sign up. The Home Depot offers four different credit cards: the Consumer Credit Card, the Project Loan Card, the Commercial Revolving Charge Card, and the Commercial Account Card. Each of these cards has its own specific benefits and uses to make it easy for businesses like you to decide which one is the best for your work!

Consumer Credit Card
If you are a business, the Consumer Credit Card is probably not what you are looking for. Geared towards regular customers of The Home Depot®, your line of credit and APR depends upon your credit score. Users of the Consumer Credit Card receive various offers, including discounts and special financing. This card is better for personal shopping rather than making purchases on behalf of a business.

Project Loan Card
As the only card suited for both businesses and regular consumers, the versatile Project Loan Card is ideal for larger yet singular projects. The APR for the Project Loan Card is fixed, and the credit line can reach up to tens of thousands of dollars. In addition, there is no annual fee or prepayment penalty! You probably want to use this card when you only need credit for one large job rather than multiple projects.

Commercial Revolving Charge Card
The Commercial Revolving Charge Card is perfect for when you want to allow your employees to make purchases on your behalf. You can distribute cards to each of your employees and they can make payments on your account. With this card, there is also more payment flexibility than any other card; you can make small monthly payments or pay in full. This card is ideal for when you want to allow your employees to make purchases and have flexibility with your payments.

Commercial Account Card
Much like the Commercial Revolving Charge Card, the Commercial Account Card allows you to authorize your employees to make purchases on your account. However, with this card, you receive more details about the purchases and have more control over your employees’ spending. The Commercial Account Card has less payment flexibility than the Commercial Revolving Charge Card, as you have to pay in full every month. Users of both the Commercial Revolving Charge Card and the Commercial Account Card receive discounts on fuel and automatic membership to Pro Xtra®, Home Depot’s loyalty program that helps businesses save money. To read more in depth about the disparities between the two Commercial Cards, you can read HammerZen’s blog.

As someone who runs a business, you might run into some tough decisions--and deciding which Home Depot credit card is right for you might be one of those difficult choices. The Project Loan Card, the Commercial Revolving Charge Card, and the Commercial Account Card all offer unique benefits, and you can learn even more about the differences between each of them by reading this blog.

When you use the Home Depot credit cards in conjunction with Pro Xtra, you can save time and money like there is no tomorrow. However, you should also use accounting software like QuickBooks so that you can not only track your purchases but also monitor your profitability--and the incompatibility between Pro Xtra’s and QuickBooks’ file formats can cause some issues. There is a simple and efficient remedy for this problem, though, and you can discover it here!

Read more in depth about the features and benefits of each card on HammerZen’s blog Which Home Depot Credit Card is Right for You?

About HammerZen
HammerZen’s mission is to Pave the Road to Success for companies in the construction, real estate, and accounting industries. Our team believes that there are three important components of managing a profitable business: accuracy, consistency, and time management. The app simplifies your work and increases your profits by automating the data entry process when you import Home Depot receipts into QuickBooks. We are dedicated to providing the most to our clients so that they can be the best. Please visit HammerZen for the latest updates and news.

Who dislikes increasing profits and efficiency? If you are interested in learning how to automate your data entry process and save tons of time and money, you should sign up for HammerZen.