Home Depot Commercial Account In 2022 (How It Works, Benefits + More)
.svg){kind=logo} |
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Headquarters at the
American Express Tower |
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| Type |
Public |
|---|---|
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NYSE : AXP DJIA component S&P 100 component S&P 500 component |
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| Industry |
Banking Financial services |
| Predecessor |
Livingston, Fargo & Company Wells, Butterfield & Company Wells & Company |
| Founded |
March 18, 1850 ( 1850-03-18 ) , in Buffalo, New York , U.S. |
| Headquarters |
200 Vesey Street Manhattan , New York City , NY 10285 United States |
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Area served
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Worldwide |
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Key people
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Stephen J. Squeri ( Chairman & CEO ) Jeffrey C. Campbell ( Executive VP & CFO ) |
| Products |
Charge cards Credit cards Traveler’s cheques Corporate banking |
| Services |
Finance Insurance Travel |
| Revenue |
 US$ 43.66 billion (2021) [1] |
 US$4.3 billion (2020) [2] |
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US$8.06 billion (2021) [1] |
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Total assets |
US$188.55 billion (2021) [1] |
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Total equity |
US$22.18 billion (2021) [1] |
| Owner |
Berkshire Hathaway (18%) |
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Number of employees
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63,700 (December 2020) [2] |
| Website |
americanexpress.com |
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Footnotes / references [3] [4] [5] |
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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.
Citibank offers Home Depot’s Commercial Account exclusively to small businesses starting in 2022. The account is only available to authorized users who can purchase products. Owners of the account will receive detailed billing statements detailing their purchases. Home Depot Commercial Accounts should be paid in full each month.
What’s a Home Depot commercial account?
Home Depot Commercial Accounts (offered by Citibank) are part of the exclusive Business Accounts offered exclusively for Businesses.
Home Depot Commercial Account holders can obtain buyer IDs. This will give them the ability to access their account and buy products or goods from Home Depot.
Home Depot will help you maximize your business’ cash flow by opening a commercial bank account. This account allows you to receive detailed invoices and billing statements for all your purchases.
Furthermore, there are no annual fees or flexible payment options for the Commercial Account. This account is more accessible at Home Depot.
What is the purpose of a Home Depot commercial account?
A commercial account is part of the Net 30 category and reports to all three credit bureaus, Dun & Bradstreet Small Business, Equifax Small Business and Experian Small Business.
Also, your Home Depot Commercial Account can get you approvals up to $250,000.
A personal guarantee will not be required for Home Depot Commercial Accounts.
How do I obtain a Home Depot account commercial?
The Home Depot website allows you to apply for a Home Depot Commercial Account.
Be aware that all information related to your business is required, such as billing information, the legal name and structure of your company, as well information on how you intend to use it.
To make an application for a Home Depot Commercial Account, you must be an authorized officer, controlling party, or majority shareholder of the business.
You must provide personal information of the owner or primary shareholder to be eligible for a Commercial Account. This includes your date and birth, name, address, as well as your age.
A personal guarantor is required in order to submit an application if you fail to meet certain criteria that are necessary for a Home Depot Commercial Account.
In addition to this, when you apply for your Home Depot Commercial Account you have the option of enrolling in fuel rewards and choosing your payment terms, either 30 or 60 day.
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.
You should keep in mind, however that it can take 5-7 days for postal payments to reach the Home Depot Commercial Processing Facility.
Where can I view the purchases on my Commercial Account?
Logging into Citi Online Portal will allow you to track all purchases on your Home Depot Commercial Account.
All of your purchases will be itemized on your monthly billing statement for your Home Depot Commercial Account.
The Commercial Account can help you track the purchases of your customers in several ways. For example, by the buyer’s or job number.
What is the best way to change authorized buyers on my commercial account?
Citi’s online portal allows you to monitor your Home Depot Commercial Account authorized buyers.
Select the Maintenance Requests option to add or remove buyers to your Home Depot commercial account.
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.
Home Depot will not allow you to add commercial accounts to existing customers if you have not received your paper card yet.
What are The Advantages Of A Home Depot Commercial account?
A Home Depot Commercial Account offers members additional benefits, including itemized billing and authorization buyers.
When you submit your Home Depot Commercial Account application, you have the option to be eligible for fuel discount at Shell.
You can earn $0.10 fuel rewards savings by opening a Home Depot Commercial Account. For each $100 purchase, your account will provide you with Fuel Rewards savings.
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?
A credit score above 640 is required to obtain a Home Depot Commercial account. This score is comparable to that needed for store credit cards.
For a Home Depot account to be opened, the business must have a registered owner.
What are Commercial Revolving Charge Cards?
The Home Depot Commercial Revolving Credit Card is similar to a business account, but it is more difficult to apply.
The Commercial Revolving Credit Card from Home Depot allows you to choose whether to make full monthly payments or lower installments.
You can get approvals for bigger amounts of money from $2000 up to $10,000.
You will need to provide a guarantee in order to purchase a Home Depot Commercial Resvolving Charge card.
You still get itemized statements as well as easy tracking and account management online.
You now have a better understanding of Home Depot Commercial Account. Also, check out our posts about Home Depot Home Improver Card and Home Depot Pro Account.
Home Depot’s commercial accounts are a good option for companies because they offer many rewards and strategies that can help them 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 change your Home Depot authorized buyers at any moment by using Citi Online Portal or contacting Home Depot Credit Services.
What’s a Home Depot commercial account?
Home Depot’s Commercial Account is offered exclusively to businesses through Citibank as of 2022. Users who are authorized to use the account receive buyer IDs that allow them to buy goods. In addition, owners of the account can get itemized billing statements for their purchases. The Home Depot Commercial Account must be paid off in full each month.
What Credit Score Do You Need To Open A Home Depot Commercial account?
640
What’s a commercial revolving chargecard?
You have two choices with the Revolving Card: you can either pay small monthly installments or your entire month’s payment in one lump sum. You can pay the full amount with the Commercial Account Card. To increase cash flow, you also have the option of paying by invoice.
Home Depot has a net 30 account
Home Depot Commercial Accounts, which are 30 net vendor accounts, require that you pay all your monthly balance in full. To allow employees to charge your account, authorized users will be issued buyer IDs.
.Home Depot Commercial Account In 2022 (How It Works, Benefits + More)