Home Depot Commercial Account In 2022 (How It Works, Benefits + More)
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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 is one the most popular home-improvement retailers in America.
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. Each month, the Home Depot Commercial Account should be fully paid.
What is a Home Depot Commercial Account?
Home Depot has a Commercial Account that can be opened through Citibank. The account is net thirty and is available to small businesses.
Home Depot Commercial Account users can receive buyer IDs, which allow them to purchase goods or products from the store.
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.
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.
In addition, Home Depot can approve you for up to $2,500 on your Commercial Account.
A personal guarantee is not required for Home Depot Commercial Accounts if you have more than 10 employees and 80 paydex.
How Do I Get A Home Depot Commercial Account?
You can apply for a Home Depot Commercial Account through the Home Depot website.
Not only will you need the information necessary to run your business but also information regarding billing, structure and legal details.
You must be an authorized officer or controlling party to apply for a Home Depot Commercial Account.
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.
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.
You also have the option to sign up for fuel rewards when applying for your Home Depot Commercial Account.
How do I pay the Home Depot Commercial Account?
Citi accounts portal lets customers make payments online and manage their Home Depot Commercial account.
Home Depot Commercial Account Payments are available online or in person.
Remember that mailed payments may take between 5 and 7 business days to get to your Home Depot Commercial Account processing center.
What is the best way to see my commercial account’s purchases?
Logging in to Citi Online Portal allows you to monitor the transactions made through your Home Depot Commercial Account.
Every purchase will appear on your Home Depot Commercial Account monthly statement.
Your Commercial Account allows you to track your purchases in many ways. You can do this by numbering the jobs, buying names, and even the order number.
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.
You can choose the maintenance request option and add/remove authorized buyers from your Home Depot Commercial Account.
Home Depot Credit Services may be reached by calling 866-8755490. Or, you can fax to Home Depot Credit Services at 1888-2666-7308.
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 Benefits of a Home Depot Commercial Account
A Home Depot Commercial Account offers members additional benefits, including itemized billing and authorization buyers.
On your application for your Home Depot Commercial Account, you can opt to receive fuel discounts 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.
Which credit score is required for a Home Depot Commercial account?
A Home Depot Commercial Account requires a credit score greater than 640. This is the same score required for other 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 Charging Card?
A Home Depot Commercial Revolving Charge Card is similar to a commercial account but is stated as harder to apply for.
The Commercial Revolving Credit Card from Home Depot allows you to choose whether to make full monthly payments or lower installments.
Also, approvals can be granted for large amounts of money, ranging from $2000 to $10,000.
However, note that you will require a personal guarantee for a Commercial Revolving Charge Card at Home Depot.
You’ll still have the option of itemized statements and easy purchase tracking. Online account management is also available.
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 offers a commercial account that is great for small businesses. It provides many benefits and helps owners to manage their business.
Home Depot Commercial Account provides fuel rewards as well as longer return policies. It also allows you to track and manage your purchases easily.
Any time, you can modify your Home Depot Commercial Buyers by accessing the Citi online portal or calling Home Depot Credit Services.
What Is A Home Depot Commercial Account?
Citibank is the exclusive provider of Home Depot’s Commercial Account. It will be available exclusively to business customers starting in 2022. All authorized account users are granted buyer IDs for the purchase of goods. Account owners receive itemized billing statements detailing all purchases. The Home Depot Commercial Account must be paid off in full each month.
Which Credit Score is Required for 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. Payments are due in full with the Commercial Account card. To increase cash flow, you also have the option of paying by invoice.
Home Depot: Is it a Net30 account?
With a Home Depot Commercial Account, which is a net 30 vendor account, you will need to pay your balance in full each month. Authorized users can be given buyer IDs, enabling employees to charge on your account.
.Home Depot Commercial Account In 2022 (How It Works, Benefits + More)