What’s about the Home Depot commercial account?
The Commercial account of Home Depot is exclusively offered to certain businesses through Citibank. If the authorized users want to purchase goods, they are provided with a buyer ID so that they can resume their purchases. The owners can also obtain bill statements of items they have purchased. The users must pay full every month in the Home Depot Commercial account. Keep reading if you would like to attain more details about setting up the commercial account at Home Depot.
What is the Home Depot Account all about?
Note that a Home Depot Bank Account is offered through Citibank. The Net 30 vendor account is a part of the business accounts that are offered by Home Depot only for businesses. The authorized users of the Home Depot Commercial Account will be provided with a buyer ID. This ID will allow them to purchase goods and products from Home Depot. With the help of the Home depot Commercial Accounts, the customers can fully optimize their business cash flow. They can also receive itemized invoices of the billing statements of the products they purchase. Moreover, there is no annual fee for a commercial account. They provide flexible payment options and they are also easier to qualify.
Working of the Home Depot Account
The Commercial Account of Home Depot is one of the parts of the Net 30 group. The reporting is done to all three bureaus of business credit. They include Dun and Bradstreet, Equifax Small Business, and Experian Small Business also. Moreover, on your Commercial Account of Home Depot, you can also receive approval of $500-$2000. You will not require a personal guarantee for a Home Depot Personal Account if you already have 80 paydex, sales of 2 million, 3+ years in the business, and 10+ employees.
How can you get the Commercial Account of Home Depot?
It is a very simple way to get the Home Depot Depot you only have to apply for the account at the website of Home Depot. Make sure that you have all the necessary details and information related to your business. It must include a legal name, billing information, a business structure, and business details also. If you want to make an application for the Home Depot Account, you will have to be an authorized officer, a controlling party, or even a majority business shareholder. Moreover, you will also have to provide the personal information of the primary shareholder or the owner if you want to apply for a Commercial Account. It should also include details like your name, date of birth, and your address. If you do not meet the required criteria, then you will want to have a personal guarantor to set up a Home Depot Commerical Account. Apart from this, if you are applying for a Home Depot Account, you can choose to enroll in the fuel rewards and can select the term of payment of 30-60 days.
How can you make the payments on Home Depot Commercial Accounts?
If you already have a Citi Account portal, then you don’t have to worry. With this account, you can manage your payments for Home Depot Commercial Accounts. You even have the option to make payments online mode or by mail. For your Home Depot Commercial Account, if you are making payments through the mail, then remember that it will take up to 5-7 days for the mail to reach the processing facility.
How can you view your purchases on Home Depot Account?
On your Home Depot Account, you can log into the online portal of Citi and you can track the purchases you have made. Your purchases will be itemized on the monthly billing statements of the Home Depot Account. You can track the purchases with the help of your job name or your purchase order.
How can you change the authorized buyers on the Account?
You can make use of your Citi Account Portal by logging in and then you can manage your authorized buyers. To do so, you will have to choose the option of maintenance request and then you can add or remove the authorized buyers from your Home Depot Account. Moreover, you can also call up Home Depot Credit services on 866-875-594. You also have the option to fax your requests to the authorized buyers at 1-888-266-7308. You will have to wait till you get your physical card in the mail if you are a new account holder at Home Depot. After receiving this, you can add authorized buyers to your account.
title: “Home Depot Commercial Account Bob Cut Magazine” ShowToc: true date: “2022-11-02” author: “Derek Hoffman”
The Home Depot, Inc. is a public company that leads and specializes in retail and home improvement. Headquartered in Atlanta, it operates in all 50 American states. The retailer offers affordable and comfortable credit card options for you to purchase with ease and manage your accounts. This article focuses on the Commercial Account provided by Home Depot. The store wants you to finish your job for your personal or commercial requirements. Home Depot has a commercial account only for commercial or business purposes. Citibank provides those accounts and related credit cards. You must pay no annual fees and follow no minimum monthly payments and spending limits. However, you must pay your bills within your billing term or face a penalty.
Home Depot Commercial Account
Citibank makes the Home Depot Commercial Account available to you only for commercial or business activities. It cannot get used for personal, agricultural, household, or family purposes. It is a net-30 vendor account meaning that you must pay the amount in full within 30 days of purchasing the products. You can itemize, get a bill after purchasing the required products, and set spending limits on the other buyers on the account. The store reports to all three credit bureaus viz Experian Small Business, Dun and Bradstreet, and Equifax Small Business in the case of commercial accounts.
Applying For A Home Depot Commercial Account
Your business must be a partnership, corporation, embassy, school, sole proprietorship, limited liability, government, financial institution, non-profit, or other types. Being an applicant, you will be the authorized buyer on the account. You may add more buyers and track the transactions. Your card will contain your and your company’s name. To be on the safer side, the store asks for detailed information regarding you (as the authorized buyer) and other mentioned buyers. It offers versatile payment options with no annual fees. You must be an authorized person, a decision-maker, or a majority shareholder. However, you and the other buyers must follow the eligibility criteria. For a commercial account, your current credit score must be at least 640. It is a fair credit score. It also accepts excellent and good credit scores and does not allow balance transfers.
Home Depot Commercial Account Card
As a Home Depot Commercial Cardholder, you must pay your bills within the payment term or else pay late fees. You must also pay the high-penalty APR that gets applied if you pay later than your billing term. The APR penalty that reaches 29.9% is termed high. So, it is better to stay below 14% of the APR penalty. However, Home Depot’s APR goes to a maximum of 21.99%. This card does not include minimum monthly payments and spending limits. This card can get used only at Home Depot and its website. However, according to the conditions, the store will set your credit limit according to your credit report. The minimum credit limit can be $1,000. However, you will get informed about it when you get your card. This card offers you cashback only if you are a member of a professional trade organization.
Advantages Of Home Depot Commercial Account
The following are the advantages of Home Depot Commercial Account:
You can manage your account and pay online and through invoices.Being a Home Depot commercial cardmember, you can separately enroll for the fuel rewards program.You will have two payment terms of 30 and 60 days.You can allow some of your employees to purchase on the account.
Disadvantages Of Home Depot Commercial Account
The following are the disadvantages of Home Depot Commercial Account:
Your current credit score must be more than 640 and is a fair credit score.If you get later than the billing term in paying your bills, you will get an APR penalty of up to 21.99%.You must be an authorized person of your organization.
Conclusion
Home Depot allows you to use its commercial credit cards only in its store and website. Being an authorized person in a business, you can add a few buyers to the commercial account and control employee spending. This commercial account gets better for small businesses and construction companies. Applying for this account and its credit card is easier than the Commercial Revolving Charge card. This store requests a credit bureau report, and you may ask them for a few details related to your credit bureau check. Answer: Different accounts offered by Home Depot are Consumer, Commercial, Commercial Revolving Charge, Pro, and Pro Xtra. Answer: It is harder to get eligible for the Commercial Revolving Charge Account than the Commercial Account. The former allows you to pay in full or make small monthly payments. It also allows every buyer on your account to have a credit card, while you may track their transactions. This card automatically makes you eligible for the Pro Xtra membership.
