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 is one the most popular home-improvement retailers in America.
Citibank offers Home Depot’s Commercial Account exclusively to small businesses starting in 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. Home Depot Commercial Accounts should be paid in full each month.
What is the Home Depot Commercial Account?
Home Depot offers a commercial account through Citibank, which can be used as a net 30-vendor account. This is an exclusive business account that Home Depot provides exclusively to businesses.
Home Depot Commercial Account Authorized Users can get buyer IDs to allow them access their account for purchasing goods and services at 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.
A Commercial Account does not have an annual fee and offers flexible payment options. It is easy to apply for at Home Depot.
How Does A Home Depot Commercial Account Work?
A commercial account belongs to the Net 30 Group and is reported to all three business credit bureaus (Equifax Small Business, Dun & Bradstreet 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 get a Home Depot Commercial account?
Home Depot Commercial Accounts are available through the Home Depot website.
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.
In order to request a Commercial Account you need to also give the information for primary shareholders or owners.
If you don’t meet the criteria for a Home Depot Commercial Account, it may be necessary to have a personal guarantee.
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?
Citi Account Portal allows customers online access to manage and make payments.
Home Depot Commercial Account Payments are available online or in person.
You should keep in mind, however that it can take 5-7 days for postal payments to reach the Home Depot Commercial Processing Facility.
How Can I View The Purchases On My Commercial Account?
You can log in to Citi’s online portal and track purchases from your Home Depot Commercial Account.
Your Home Depot Commercial Account will detail all of your transactions on each month’s billing statement.
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?
Citi’s online portal allows you to monitor your Home Depot Commercial Account authorized buyers.
Click on the Maintenance request button to allow you to remove or add authorized buyers to your Home Depot account.
Home Depot Credit Services is available at 866-875-5490. You may also fax requests for authorized buyers or to Home Depot Credit Services, 1-888-2666-7308.
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 Advantages Of A Home Depot Commercial account?
Home Depot Commercial Account members get additional bonus benefits beyond the obvious business advantages of authorized buyers and itemized billing.
Shell offers fuel discounts when you sign up for a Home Depot Commercial Account.
With your Home Depot Commercial Credit Account you can get $0.10 in Fuel Reward savings for each $100 eligible purchase.
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 to open a Home Depot account commercial?
A Home Depot Commercial Account requires a credit score greater than 640. This is the same score required for other credit cards.
For a Home Depot account to be opened, the business must have a registered owner.
What Is A Commercial Revolving Charge Card?
Home Depot Commercial Resolute Charge Cards are similar to commercial accounts, however they can be more challenging to obtain.
Home Depot offers two payment options for the Commercial Revolving Charging Card: you can pay the full amount each month, or smaller partial payments.
In addition, approvals are available for greater amounts up to $2000.
You will need to provide a guarantee in order to purchase a Home Depot Commercial Resvolving Charge card.
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.
Now that you know about Home Depot Commercial Account, you can also read our related posts on Home Depot Home Improver Card, Home Depot Pro Account, and the Home Depot Project Loan.
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.
The Home Depot Commercial Account offers fuel rewards, longer returns policies and easy tracking.
You can change your Home Depot authorized buyers at any moment by using Citi Online Portal or contacting Home Depot Credit Services.
What Is A Home Depot Commercial Account?
Citibank offers Home Depot’s Commercial Account exclusively to small businesses 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. Home Depot Commercial Accounts must be paid in full every month.
What credit score is required for Home Depot’s 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. For the Commercial Account card the monthly payments must be made in full. However, you may choose to pay by invoice to enhance your cash flow.
Home Depot is a Net 30-Account
Home Depot Commercial Accounts are net 30 vendor accounts. Each month, your balance must be paid in full. Be able to give your buyer IDs so that employees can charge you on your account.
.Home Depot Commercial Account In 2022 (How It Works, Benefits + More)