Consumer Payment Card News

Home Depot Cards

The world’s largest home improvement specialty retailer has teamed with Citibank to launch its first pair of co-branded general purpose credit cards. Home Depot has introduced the “Home Depot Rewards MasterCard” and the “Home Depot Business Rewards MasterCard.” Under both programs cardholders earn 2,500 bonus points with their first purchase (enough for a $25 gift card), two points on every dollar spent at Home Depot and EXPO Design Center, and one point for every dollar spent on purchases elsewhere. The new consumer card carries risk-based pricing with “Tier 1 Pricing” for purchases and balance transfers at prime plus 7.99%. The “Tier 2 Pricing” for purchases and balance transfers is prime plus 10.99%. The “Tier 3 Pricing” for purchases and balance transfers is prime plus 13.99%. Default rates are prime plus up 23.99%. Home Depot has 2,082 retail stores in the U.S. For more information visit: “http://www.homedepot.com/cards”:http://www.homedepot.com/cards.

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