Home Depot Discontinues Their Business Rewards MasterCard Issued by Citi Bank

Just the other day I suggested to a client who invests in real estate to apply for the Home Depot Business Rewards MasterCard funded by Citi Bank. It is one of the few cash credit products that doesn’t require a personal guarantee as long as the business has excellent credit. I went to Home Depots website to apply for the card for my client, and I didn’t see the application. Which prompted me to call customer service to investigate. I was informed by a customer service representative that the card has been discontinued by Home Depot. Home Depot stop taking applications for it the first of December, and existing card holders would be transitioned into receiving a Citi Bank business credit card. This is just another example of business creditors changing their lending programs faster than business owners can establish Corporate credit files.

Wells Fargo has made significant changes to its business credit programs. Six months ago Wells Fargo discontinued there secured business credit card. Which is a much needed product for a start up business in this current economy. They also changed the guidelines for their corporate account credit card. Last year a business was able to establish up to 100k line of credit solely in the company’s name without a personal guarantee. Now they require personal guarantees on all their business credit cards. I spoke with a business relationship manager based in California for Wells Fargo on the phone. He informed me that a company would need strong business credit scores from D&B and Experian to qualify. In addition to having excellent personal credit. In other words 50% of the approval is based on business credit scores, and the other 50% on Fico scores.

Bank of America recently established a market in Michigan, and they don’t offer any business lending or leasing in the state of Michigan. A branch manager told me that earlier this year Bank of America was going to roll out special lending programs for start up businesses, but changed their mind several months before the full takeover of La Salle Bank was completed .They still offer a business credit card. However the business credit card had a 35k limit several months ago, and it has been decreased to 25k. Currently Bank of America basis the approval solely on your personal credit report. I find it strange how a bank as large as Bank of America doesn’t check a business credit report. A business could have tax liens, judgments, and behind in all their accounts & Bank of America would never know their making a high risk loan. They also discontinued their 203k program, which was backed by HUD.

If banks keep tightening their commercial lending requirements it’s my prediction they will further hinder the economy from rebounding. We need more small businesses to create jobs, offer services, and innovative products to help the U.S. economy grow stronger. Large corporations like General Motors bullying the Federal government to bail them out because of weak financial management. Strengthens the fact Americans can’t place their financial security in the hands of CEO’s of large corporations.

I recommend business owners to use due diligence when selecting a financial institution. If they don’t support your dreams and goals, why support their bottom line. Credit unions are now starting to cater to business customers. If you can’t find a bank you like visit your local credit union.

I formed Richman Publishing LLC to educate consumers, entrepreneurs, small business owners, and investors on the latest information from the best experts in their specialized fields. We only publish content that contains unique information thats been tried and proven to be successful.

What is a Great Credit Card For Shopping?

Shopping for many people is a highly enjoyable activity that is a joy in itself even without considering the actual purchases that they have made. Many people have in fact become one of the many of that elite group; the curious souls who have turned away from their ordinary, hum drum lives and become a professional shopper. While the rest of us mere mortals can only observe from a distance and long for the days when we will be finally worthy of joining these lofty ranks, we can however imagine just how satisfying a pursuit that would be…very satisfying indeed.

Of course you do not have to become a professional shopper yourself in order to realize how much help a credit card can be in times of purchasing needs and emergencies. How many times for example have you found yourself on the losing end of the battle with you r weekly budget or allowance and suddenly in need of some groceries or other important household item? Or what if, knock on wood, you find yourself in the unfortunate position of encountering a medical emergency late into the night or even involved in a particularly vexing type of car trouble or other? It is in these extreme cases and many others like it that a credit card can be of tremendous help.

For these and many other people whom shopping is a regular part of life, the CitiBank Store Credit Cards can be of invaluable use. This is a collection of 5 infinitely useful credit cards that allow you many benefits and privileges from your favorite stores. The company has clearly considered the needs of their customers carefully in this particular instance and as such they offer you great deals from reputable stores and shops among them, Bloomingdale’s, Home Depot, Sears and Macy’s. The cards in the series are comprised of Home Depot Rewards Master Card, Bloomingdale’s Store Credit Card, Sears Store Credit Card, Home Depot Store Credit Card, and Macy’s Store Credit Card.

Whether you have a constant yearning to walk the fine line between fashion and functionality or you are a homemaker with a yen for handiwork, or perhaps a kitchen whiz in need of that particular kitchen tool to help you realize your culinary masterpieces, these cards by virtue of their extensive coverage can help you in your time of need.

Aside form the previously mentioned stupendous benefits for shopping; you will also be entitled to many considerable discounts on many fine products as well as easy access to several attractive payment plan options. It does not end there however; this amazingly useful set of credit cards can also be seen as the gift that keeps on giving in terms of the many reward points that you can win. You can then utilize these reward points in exchange for certain merchandise from the partner stores. When was the last time you actually heard of a credit card company that gave something back to its customers? Well now you have!

Credit Card Rewards to Suit Your Personality

Before you rush out to find a card that fits your personality, you first need to determine which types of credit cards you may qualify for.

To help you understand what cards you may qualify for, here’s a guideline:

You may only qualify for secured cards or guaranteed approval shopping cards if any of the following apply to you:

– You have bankruptcy on your credit report

– You have been rejected repeatedly for credit in the past 12 months

– You are in a low income bracket

– You have high debt that absorbs most of your income

– You don’t have any good credit references

– In the past 12 months you were late paying major bills, such as mortgage/rent,
utilities, or were late making payments on existing credit

– You have a low credit score

You may qualify for a low unsecured credit limit credit card if:

– You’ve only been late once or twice paying major bills in the past 12 months

– You have at least one good credit reference

– You have at least average income

– You do not have debt that absorbs most of your income

– You do not have bankruptcy on your credit report

– You have a fair credit score

You may qualify for a high unsecured credit limit credit card if:

– You have never been late paying major bills in the past 12 months

– You have at least three good credit references

– You have above average income

– Your debt does not absorb most of your income

– You do not have bankruptcy on your credit report

– You have an above average credit score

If you aren’t sure of your credit score, you should order a credit report or you can use the estimated prequalification guide at
http://www.creditfederal.com/credit-loan-prequalification.html

Now that you have an idea of what types of credit cards you may qualify for, you can begin your search to find your personality card. Listed below are examples of these types of credit cards:

Airline Miles Credit Card – this card is perfect for anyone who travels frequently. In addition to awarding frequent flyer miles to the user, this card can also offer discounts on airfare at participating airlines, such as Southwest.

Cash Back Credit Card – this type of card is ideal for people who rarely use cash when making purchases. By making purchases with the card, users can earn cash back based upon a percentage of their charges. Some issuers tailor the card to the user’s personality, by allowing a higher cash back percentage on charges
they most frequently make. For example; if the user mostly makes charges at a grocery store, the issuer credits a higher cash back percentage for those purchases. Other issuers may offer higher cash back percentages for purchases made at participating retailers, such as Home Depot or Sears.

Business Credit Card – these are not only for large businesses, now even small businesses can get this type of credit card, and can get separate cards for employees who make purchases on behalf of the company. Again, some business credit card issuers will sweeten the offer by awarding discounts for purchases
made at participating retailers, such as Office Depot, or will award cash back percentages.

Retail Credit Card – if a person uses a credit card only at one particular store, a retail credit card can offer discounts on purchases. Examples of this type of card are: Sears Card, JC Penney Card, Wal Mart etc. Regarding the Wal Mart Card, users can get discounts on Wal Mart gasoline purchases, which is
quite beneficial during current high gas prices.

Shopping Credit Card – typically known as Catalog or Merchant credit cards, these allow even bad credit people to obtain an unsecured line of credit. Purchases are restricted to a certain merchant or a specified catalog, but nonetheless offer the ability to make purchases on credit. For people with very
bad credit, this is an excellent way to obtain credit. Just be sure to use a card that reports your timely payments to a major credit bureau so you can build your credit.

Other Rewards Credit Cards – you can find cards that offer a variety of discounts and free services, such as free music downloads, free roadside assistance, as well as protection against identity theft.

For nearly every individual personality and credit rating, their is a credit card issuer who wants you to become their customer. Be sure to read all the Terms and Conditions, so you know exactly what you will get before you apply.

The Best Credit Card? The One That Fits Your Lifestyle

Finding the best credit card is not always as straightforward as you may think. Choose your new card to match your lifestyle. Find an offer with perks that you can use. Signing up for the wrong card can end up costing you money – one size does not fit all! Here are a few tips to help you pick the best plan:

Identify your needs:

Are you a frequent traveller? Look for miles, hotel rentals, and car rental perks. Buy a lot of office supplies? Go for a card with double points at a stationary store like Office Depot. Perhaps you are in the middle of some major home improvements, a Home Depot card might be just what you need.

Don’t forget the interest rate!

Your interest rate is important too, obviously you should be looking for the best deals. Remember to read the fine print, as low introductory rates usually last for a limited time. Make sure your standard rate is acceptable to you.

Save at least 1% on all your purchases:

At the very minimum, you should be able to save 1% on all your purchases in miles, points, cash-back, or other perks. Some credit cards offer double points (or more). If you’re not getting at least 1% back, keep looking for better offers!

Make sure your points don’t expire:

It can be frustrating to learn your points have expired because you didn’t use them within the specified time. Some credit cards offer perks that never expire, but most have set expiration dates. Know the facts before you apply.

Double points or cashback at selected stores:

Did you get an offer with 2% cash-back at selected stores? That is a great deal, but if you don’t shop at that particular retailer those perks will likely be wasted – perhaps consider a blanket cash-back offer instead.

With so many offers to choose from, it is worth investing a little bit of time to find the credit card that will work for your needs. Remember that by choosing the right perks you can save anywhere from 1% to 3% of all your purchases, so don’t settle for less!

Fixed APR Balance Transfer Credit Cards

0% balance transfers offer great short term savings, free up money to pay down debt quicker, and can ultimately save consumers hundreds, if not thousands of dollars in interest over their duration. However, the very best 0% balance transfer offers on the market only last 15 months. For many, this is not enough time to completely eliminate their credit card debt and they are faced with a decision: pay the new regular interest rate or transfer their balance again. For most, a fixed APR balance transfer credit card never enters their mind. However, this balance transfer offer is often the best option for many credit card users.

First, let me explain a 0% balance transfer worst case scenario. An acquaintance of mine thought he could save a few thousand dollars in student loan interest by transferring his balance to a 0% APR credit card. The student loan had a fixed APR of 7.99%. He figured he’d save $1600 the first year on his $20,000 loan, then transfer the remaining balance to a new 0% APR credit card the next year.

What he didn’t realize was that its not always that easy to get approved for a new 0% APR credit card year after year, especially when you have a high amount of credit card debt. When it came time to transfer the $18000 left on his credit card, he was only able to get a $2000 0% balance transfer. He was stuck with $16000 of credit card debt with a 12% interest rate and the clock was ticking on his other $2000 in debt. Instead of a comfortable fixed APR of 7.99%, my acquaintance got stuck in a credit card nightmare.

Fixed APR balance transfer credit cards provide consumers with a much better way to pay down long term debt such as student loans or car loans at a set interest rate. Currently, some credit card companies are offering fixed APR credit card rates as low as 3.99% for the life of the balance. A rate such as this is lower than many student loan and car loan rates, and can provide consumers savings of 3% or even 10% on long term debt each year.

A fixed APR balance transfer is also a good option for individuals with high credit card debt considering a second mortgage to pay off their high interest credit cards. For example, a 3.99% fixed APR may be lower than a second mortgage’s interest rate and it wouldn’t involve costly refinancing fees. More importantly, however, is the fact that a fixed APR balance transfer doesn’t remove equity from your home.

0% balance transfer credit cards offer consumers great short term savings. In the long run, however, a fixed APR credit card provides a viable, interest saving option for those looking to reduce higher interest loans and credit card debt over a period of more than 12 to 15 months. Imagine how much better off my friend would be if he transferred his $20000 balance to a 3.99% fixed APR credit card i

nstead of getting a little greedy with 0% APR credit cards.

©2006 Credit Card Depot Inc. All rights reserved.

Home Depot Credit Card Facts

The Home Depot Credit Card is unlike any credit card you’ve ever known. Not only can you get 6 months of free interest if you spend over $299.00 but you also get opportunities a few times a year to defer payment and interest for a whole year. This is great, especially when you want to buy a major purchase. There are also many discounts and promotions that you can only get if you have the Home Depot credit card.

You can also choose the credit card that has the rewards program. This is where you get rewarded for buying things at Home Depot using your Home Depot creditcard. You can get free money to spend at HomeDepot. It is a really great program. Review the details of this great program and you will want to sign up.

One of the best features about the Home Depot Credit Card is that there is no annual fee. It is rare to find a credit card these days with no annual fee. This can save you a lot of money. Most credit cards charge an annual fee of over $100.

When you check your local Sunday paper you should look for the HomeDepot ad and see when they are offered their deferred payments promotions. When you spend over a certain amount you pay no payment or interest for one year. This is a great time to sign up for a Home Depot creditcard. If you need to purchase items for your home but, like most of us, are having some financial difficulties, then this is a great way to save some money.

You can also get reduced APR. If you spend $2000 or more the interest on your Home Depot creditcard will be reduced by almost 6%. It is a really great option. There is also zero liability on all unauthorized purchases. You can track all purchases on the internet with their internet account.

Remember that if you are planning to make a big purchase at HomeDepot then apply for a HomeDepot credit card for all of its great benefit. Get the rewards with their rewards program and also get the low APR so your payments are even lower. Get a year of no payments if you spend the minimum amount with no interest. Just go online and read the specifics on their creditcard. Apply for the HomeDepot creditcard today and you won’t be disappointed!

The Home Depot Credit Card Compared

The Home Depot credit card, like all store branded credit cards, offers consumers some very enticing benefits. For example, the Home Depot card often advertises specials such as a 0% interest rate and no payments for 6 months. However, there are a number of factors to consider when applying for a credit card. Perhaps the most important factor is the interest rate. And the Home Depot credit card scores quite poorly here.

If you a take a look at the online application for the Home Depot credit card, you may have a hard time finding the interest rate. And, when the card is presented to you at the store, cashiers generally don’t attempt to influence your decision by mentioning this essential credit card element. However, the truth of the matter is quite disturbing. Like most other store credit cards, the Home Depot credit card charges an interest rate that is forty to over one hundred percent higher than standard credit cards! And that’s for consumers with good credit.

Credit cards issued by most major credit companies presently offer two things the Home Depot card does not: low long term interest rates and 0% interest on purchases and balance transfers for 1 year. For a large purchase that will be paid off over a period of time, the best credit card is a new credit card that offers 0% interest on purchases for 1 year. Why? Let’s buy new carpeting for $2000 and figure out the difference.

Many credit cards offer interest rates around 11% and 0% introductory rates for up to 1 year. Using such a card would cost us 0% in interest on our $2000 purchase during the first year, and, assuming we’ve paid off $100 per month, total interest charges would total about $65. Total cost of the new rugs: around $2065.

The same purchase using a Home Depot card with an average interest rate of 22% and the same payment schedule would cost us $143 during the first year and close to $100 the second year. In other words, about $200 more. This assumes that we do not take advantage of the no payments for six months. Factor that in and we pay an additional $150, bringing our total interest cost to $350. That means our $2000 rugs actually cost $2350!

In this author’s estimation, the most important element of a credit card is the interest rate. After all, if purchases are not paid off in full each month, the items we buy end up costing a lot more than they did at checkout. The best credit card for new purchases, especially large ones, should be the one with the lowest interest rate and the best 0% introductory rate. The same holds true if you are stuck with a balance on a high interest store credit card. Simply transfer the balance to a 0% APR balance transfer credit card with a lower interest rate. The savings add up. Quickly!

Home Depot Credit Card Facts – What You Need to Know

Just in case you have somehow skipped the 20th century inside a cave, Home Depot is the largest home improvement retailer in the United States with 2,193 stores across the country and in foreign shores. In fact, you can build your own manmade cave with their construction supplies. Also, this home improvement giant also accepts commercial credit cards like MasterCard, Visa, American Express and Discover. However, if you are after the best deals with this retailer, you might want to secure a store-issued Home Depot credit card.

Types

There are two main types of the Home Depot cards. First, the Consumer Card and the Consumer Rewards MasterCard are mainly for homeowners who spend smaller amounts on construction materials for basic home repair, renovation and maintenance. Second, the Depot Commercial Cards and Depot Business Rewards MasterCard are targeted towards the small to large size businesses that spend larger amounts on construction supplies. As such, they are often engaged in interior design, office and residential building construction and other related industries.Of course, each card has its advantages depending on your home improvement needs.

Advantages

There are many benefits to getting either of the abovementioned Home Depot cards, of which the following are the most important for card holders:

o You need not pay for an annual fee, which is in contrast with commercial credit cards charging as much as $100 annually.

o Upon your initial purchase of at least a thousand dollars, you do not have to make payment and pay interest for 6 months after the purchase. Basically, you are borrowing money for six months at no interest. After 6 months, you should start repaying your debt at fixed interest rates starting at 8 percent, depending on your card type.

o You can view, manage and pay your credit card account online at their website, which is definitely very fast, easy and convenient for busy individuals. You may also make in-store payments at any of the Home Depot stores.

o Your Home Depot credit card is valid in all Home Depot stores. You can basically shop in over 2,000 stores!

o You will be provided with easy-to-read itemized billing statements, which can be used for settlements and reconciliations, when and where necessary.

o You can track your purchases by either purchase order number, job name or job order, which is a very good feature especially when you are ordering in bulk.

o You do not assume financial responsibility and liability for unauthorized charges to your credit card.

o You can choose to pay in full or make low monthly payments. Take note, however, that the Commercial Credit Card requires full payment of all charges due and demandable every month.

You can also avail of special promotions and rewards programs with your Home Depot credit card. For example, you earn 2 points for charges made at gas stations, restaurants, drugstores and grocery stores. You can then redeem your accumulated points in gift cards, merchandise and air travel.

Home Depot Home Improvement Gift Card – Getting One For Free

One of the most popular stores today when it comes to home repair, home fix up and various appliances is Home Depot. In fact it seems that they are popping up everywhere and to be quite honest in my opinion has the one of the best selections when it comes to lawn care products, mowers and flooring options.

However, what I wanted to share with you is how to go about getting a free gift card to Home Depot. If you are planning a large project and plan to spend a good deal of money on this project, it just might be beneficial to look into getting a free home depot gift card. When you look online there are tons of sites offering free giveaways and various items, yet it’s hard to sift through what’s real and what’s not. I can tell you I’ve been reviewing free giveaways and gift cards for a few years now and there are actually sites and sources out there where you can truly get an item for free, however not before you complete program requirements that do require purchases before hand to quality for the gift card.

For the most part these sites are great if you plan on spending or good deal at Home Depot or tend to go to the hardware store on a regular basis. One thing to note be sure to read the terms and conditions when you visit a site giving away a free gift card and make sure you’re making the most of it and that you actually need or want what’s required in order to get the gift card.

Here’s a good example, if you are planning on spending thousands of dollars to remodel your house, buy a new mower or any major project at that matter, and you already do other activities like travel or use credit cards, then it may be worth looking into and seeing about getting a free gift card, again just be sure to read the terms and conditions.

Enjoy Some Amazing Home Depot Credit Services

Arthur Blank and Bernie Marcus are the people behind the establishment of Home Depot. The concept behind the store was and still is to provide the tools and the necessary knowledge to people who are passionate about do-it-yourself projects. The company offers various tools, floor panels, tiles, kitchen cabinets and much more in their stores. Apart from individual customers, the store also deals in bulk quantity to contractors and construction companies.

Amazing Services:

With the company expanding rapidly and successfully, there are many services and facilities available for the clients. Home Depot credit services are many. For instance, consumer card, business rewards MasterCard and commercial revolving charge card are some of the credit facilities offered by the company. Applying for any of these packages offers great benefits; however, the major advantage is that you can manage your accounts with utmost ease.

Consumer Credit

Speaking of credit facilities, you should never forget to look at the consumer credit card. This credit card enables the customers to easily get their hands on tools and equipments required to complete their personal projects. There are many great features offered by this to the customers. If the bills are paid in full rather than installments then no interest is charged. However, to make use of this particular service, you need to meet the minimum requirement, which is $299. There are many special promotions and bonus offers throughout the year.

Commercial Credit

Commercial credit is a type of credit designed exclusively for contractors and businesses. This type of credit car is exempted of any annual fee and the purchases can easily be tracked so a check can easily be kept on the business. Accounts can easily be managed online and the charges can also be paid online either in full or low monthly charges.

Advantages of Choosing These Services

There are multiple benefits and advantages of choosing the Home Depot credit services. The credit card is valid in all 2000 stores. The billing statements are itemized making it easier for the customers for reconciliation and settlement purposes. One of the most promising advantage and benefit of the credit cards is that the customer is not liable for any false transactions made with their credit cards and home Depot takes immediate action to sort the matter out. So, think seriously about making use of these particular services, as they will help you reap some amazing benefits.