The most common way to check the Home Depot store credit balance is by going to the store personally with the physical card and your legal ID. Then, the cashier will check if you will be able to inquire about your store credit balance online.
The Home Depot store credit is a special financing that you get on purchases of $299 or more, and for special promotions, you get 24-month financing. You won’t have to pay any fees, and the Home Depot store credit value never expires. It is quite easy to use, and you can apply it towards the purchase of the Home Depot stores for the amount displayed.
Is the Home Depot Store Credit Similar to the Gift Card?
This is a common question that we get, and people ask whether both a store card and a gift card are similar. The difference is that the store credit is issued when you are about to return an item to the store.
You just can’t refund; instead, you need to purchase something in the store with the credit given. On the other hand, you get a gift card from a store in any denomination that you would like to gift to anyone. Thus, they are totally different.
Use of the Home Depot Store Credit
It is quite well understood that the store credit is tied to the person who purchased it. Henceforth, you need to purchase something worth the amount. You can also top up the extra money for items. It’s quite a waste to give someone your store credit rather than letting them choose something they like to make the purchase.
They can give you the cash amount in return. You can also convert the store credit to cash just by visiting the cash-out store credit page request. Through PayPal, they will send the cash to you or a cheque mailed. There would be a 10% cash out free that you need to incur to convert the store credit into cash.
What are the pros and cons of the Home Depot Store Credit?
No matter what we decide, we must go through the trial and error method. For Home Depot store credit, there are some advantages and disadvantages that you might come across. We have discussed the pros and cons down below.
Pros Of The Home Depot Store Credit
Below we have given the list of all the pros for Home Depot store credit. This will make things much smoother.
1. Minimizes The Loss
Every time you return an item that is not refundable, Home Depot minimises the loss by giving store credit. In many cases, we have seen that you might buy something, but later you see that it is not what you wanted. It does not fit or has some faulty issue.
Thus, rather than sending it off, Home Depot allows you to take the item back as per the return policy in exchange for the store credit. The store credit will help you to buy the item with equivalent money or even top up more if the product cost is high.
2. Only The Owner Can Access
To minimise the fraud experience, the Home Depot credit card is linked to the legal identification. Thus, it means that you are the only one who can access the credit as it’s not transferable. In order to spend it, you need to show the necessary identification. Henceforth it is quite impossible for someone else to use it unless you accompany them to the store.
3. More Chances To Get Other Items
With the help of Home Depot, you get more chances to pick other items when you return a product for any reason. This is what makes the customers stick to various stores. Of course, there are some stores that won’t exchange items. This can be a major disadvantage for the customer not satisfied with the purchase.
4. Never Expires
One of the major pros is that it does not expire sooner. You would be given good enough time to make other purchases. Generally, the clients are given 365 days to plan accordingly and buy what they want.
5. You Can Even Sell
You can even sell any unwanted store credit to your family or friends who need to buy items with a similar amount at Home Depot. But you have to go with them as the card is linked to your identification. You can use the card to pay for the good, and then they will give the cash value equivalent to that amount.
In case you feel like buying nothing, then you can always change the store credit into cash. You can go to the cash-out store credit and request to send it to the PayPal account. The major disadvantage you will come across is the cash-out fee of 10%.
7. Loyalty Of The Customers
If customers are sure that after purchasing, they can return the product under any circumstances. Then this will definitely improve customer loyalty. The depot is quite confident in its product and focuses on customer satisfaction more. And in return, the store gets the loyalty of the customers.
8. Special Discount
If you want, you can also focus on using credits on the product on offers. More money on the offers makes more sense than just buying anything.
Cons For Home Depot Store Credit
We have given the list of all the cons related to Home Depot store credit.
1. Not Transferable
Unlike a gift card to someone, you cannot transfer the ownership of the store credit. As the credit is linked to your details. You can just accompany the person to the store and let them choose whatever items they want.
2. Can’t Use Online
The store credit can only be used at the store by the linked person. Thus, online transactions are not possible. As the store needs to verify the store credit before using it. You can just check the available products and simply go to the store and place the order.
3. Can’t Be Exchange With The Gift Card
You can not change the gift card in place of the store credit. You can use the cash, debit, or credit cards. And finally, you need to use it personally.
4. Claiming The Card Is Not Easy
The store credit does not have an expiration, and if you lose it, it is gone forever. As they only have bar codes on plastic with no tracking. You must keep it safe and just avoid losing it. But if it is lost, just report the same in the store immediately.
5. 10% Cash Out Free
When you buy something with your money but it does not fit, you do get the money back in full. But in case you want to convert the credit to cash, you need to pay the 10% cash out free of the total credit. This can be a great disadvantage if you spend a lot of money in the store.
Henceforth, it became quite impossible to check the Home Depot store credit balance or even by calling 1-800 Home Depot. Every time you make a payment, the cashier will verify your Home Depot store credit. You must give all your essentials like a driver’s license, valid photo ID, etc., for your Home Depot store credit. Also, it is non-transferable and never expires.