What merchants accept the Home Projects Visa card?
The Home Projects "VISA" from Wells Fargo is not the same as the traditional retail VISA. It can be used up to your credit line with the sponsoring merchant who got you the card. In my case, this was EP Henry. [
The card can also be used, up to your credit limit, at other merchants who also participate in this program. Wells Fargo will not divulge who those are, but confirmed that Home Depot,
Walmart and Lowes do not participate as a sponsoring merchant. However, the card usually reserves a portion of its limit for regular Visa use. This amount likely depends on your credit rating and overall limit. In my case I have an $8000 limit for Sponsored home projects, and up to $1600 of that limit I can use anywhere Visa is accepted. The interest rate for home projects is set by the sponsor and is usually much better than the basic rate for other purchases. So, I prefer not to use this as a regular Visa.
As such, the card has limited use and should not be considered on par with a home equity line of credit. It is essentially a marketing tool for home improvement vendors to use to help a sale along. Wells Fargo has atrocious customer service and homeowners should think twice before getting in bed with them.
There are no new answers.