Home Depot, one of the largest home improvement retailers in the U.S., offers its customers a range of promotions, deals, and loyalty programs to help them save up on money.
As a regular shopper at Home Depot, you may be curious to know what the Home Depot commercial account is, and how it works. Read on to find out what I’ve discovered!
Home Depot Commercial Account In 2022
Home Depot’s Commercial Account is offered exclusively to businesses through Citibank as of 2022. Authorized users of the account are given buyer IDs to purchase goods, and owners can receive itemized billing statements of their purchases. The Home Depot Commercial Account must be paid off in full each month.
If you want to learn more about how to set up a commercial account at Home Depot, what benefits and discounts it offers, and much more, keep on reading!
What Is A Home Depot Commercial Account?
A Home Depot Commercial Account (offered through Citibank), which is a net 30 vendor account, is part of the business accounts offered by Home Depot exclusively for businesses.
Authorized users of the Home Depot Commercial Account can be given buyer IDs which will allow them to use their account to buy goods and products at Home Depot.
Through your commercial account with Home Depot, you can optimize your business cash flow, and receive itemized invoices and billing statements of your purchases.
Additionally, the Commercial Account has no annual fees and flexible payment options and is easier to qualify for at Home Depot.
How Does A Home Depot Commercial Account Work?
A Commercial Account is part of the Net 30 group and reports to all three business credit bureaus: Dun & Bradstreet, Equifax Small Business, and Experian Small Business.
Additionally, you can receive approval of $500 to $2000 on your Home Depot Commercial Account.
If you have 80 paydex, 2 million in sales, more than 3 years in business, and more than 10 employees, you will not need a personal guarantee for a Home Depot Commercial Account.
How Do I Get A Home Depot Commercial Account?
You can apply for a Home Depot Commercial Account through the Home Depot website.
Note that you will need relevant information pertaining to your business, including the legal name, billing information, business structure, and business details.
To make an application for a Home Depot Commercial Account, you must be an authorized officer, controlling party, or majority shareholder of the business.
Additionally, you must also provide the primary shareholder’s or owner’s personal information to apply for a Commercial Account, including your name, address, and date of birth.
You may require a personal guarantor to apply if you do not meet certain criteria required for a Home Depot Commercial Account.
Other than that, you can also choose to enroll in fuel rewards when you apply for your Home Depot Commercial Account, and select your payment terms of 30 or 60 days.
How Can I Make Home Depot Commercial Account Payments?
Customers can make payments and manage their Home Depot Commercial Account online through the Citi account portal.
You have the option to use the payment methods of paying online or by mail to pay for your Home Depot Commercial Account.
Keep in mind that it may take 5 to 7 days for mailed payments to reach the processing facility for your Home Depot Commercial Account.
How Can I View The Purchases On My Commercial Account?
If you log into the Citi online portal, you can track the purchases made on your Home Depot Commercial Account.
All of your purchases will be itemized on your monthly billing statement for your Home Depot Commercial Account.
You can track purchases on your Commercial Account in a number of ways, such as by job name or number, the buyer’s name, or the purchase order.
How Do I Change Authorized Buyers On My Commercial Account?
You can manage your authorized buyers on your Home Depot Commercial Account by using the Citi online portal.
Choose the option for maintenance requests, and add or remove authorized buyers from your commercial account with Home Depot.
Additionally, you can call Home Depot Credit services on 866-875-5490, or fax your requests for authorized buyers to the Home Depot Credit Services at 1-888-266-7308.
If you are a new commercial account holder at Home Depot, you must wait to receive your physical card in the mail before you can add authorized buyers to your account.
What Are The Benefits of A Home Depot Commercial Account?
As well as the business benefits of itemized billing and authorized buyers, a Home Depot Commercial Account also has additional bonuses for members.
On your application for your Home Depot Commercial Account, you can opt to receive fuel discounts at Shell.
Using your Home Depot Commercial Account, you’ll earn $0.10 in Fuel Rewards savings for every $100 eligible purchase you make using your account.
Other than that, members of a commercial account also have a full year to make returns to Home Depot and receive a Pro Xtra membership.
What Credit Score Do I Need For A Home Depot Commercial Account?
To successfully obtain a Home Depot Commercial Account, you need a credit score of over 640, which is similar to the score needed for other store credit cards.
Note that you also must be a registered business owner to apply for a Home Depot Commercial Account.
What Is A Commercial Revolving Charge Card?
A Home Depot Commercial Revolving Charge Card is similar to a commercial account but is stated as harder to apply for.
With the Commercial Revolving Charge Card at Home Depot, you have the option to pay in full each month or make lower partial payments.
Additionally, you can also receive approvals for larger sums of money, from $2000 to $10,000.
However, note that you will require a personal guarantee for a Commercial Revolving Charge Card at Home Depot.
You will still receive the options for itemized statements, easy purchase tracking, and online account management, as well as the benefits of a year to make returns and fuel savings.
A commercial account at Home Depot is a great option for businesses as it provides numerous rewards and strategies to help owners manage their businesses.
As well as providing fuel rewards and longer return policies, the Home Depot Commercial Account allows for easy tracking and management of your purchases.
You can have authorized buyers on your Home Depot Commercial Account, which you can track through the online app in an itemized bill. Y
ou can alter your authorized buyers for your Home Depot commercial at any time using the Citi online portal, or by contacting Home Depot Credit Services.