I agree on this. I think I want to save the home improvement loan for a later time. This will be on a promotion of 12mo interest free on a card that I already have, with a zero balance currently. Paying off the initial $2500 in 12mo will not be an issue.
It is your call but be absolutely sure you understand the terms of that type of promotion. The six month and twelve month interest free offers with The Home Depot are sort of a scam.
Several times they automatically rolled my purchases over $300 into one of those programs. I wasn't paying attention. I then had two (or more) separate balances with them at the same time. Payments mailed to them would apply only to the balances NOT in one of the programs. When the six-months-no-interested deal expired I had in fact defaulted on their program and was charged the full amount of interest due on that amount and they also hit me with a late fee for defaulting on the program terms.
It seems...every time you send them a payment to be applied to the program-balance you must call them ahead of time and tell them to expect the payment and apply it to the program amount. You still have to send yet another payment to pay the regular (not in a program) account. If you are dumb enough to have more than one program going at the same time you must send a separate payment for each of the programs only after calling them and giving them a heads up. The whole concept is a scam. At one point when I finally figured out what was going on I was sending those bastards three payments each month and calling them ahead of two of the payments.
They would not accept a single payment and divide it between the accounts.
BUYER BEWARE !