The Home Depot Inc.: A Home Improvement Retailing Business, Industry, and Economic Trends Analysis

Strategic Management of Home Depot

Introduction

Home Depot, Inc. (HD) is a home improvement retailer that provides consumers with home improvement and lawn care products, building materials, equipment rental, and installation services. The Home Depot, Inc. was established in 1978, and it is operated out of Atlanta, Georgia (Yahoo Finance). The initiation of the 2008 economic recession and the crash of the housing bubble had an adverse effect on the entire home improvement retailing industry, as well as Home Depot’s sales. However, the organization has been able to make a strong recovery, and is the world’s largest home improvement retailer.

Home Improvement Retailing Industry

The home improvement retailing industry consists of large home centers and hardware stores that may provide products and services. According to Charles Hill and Gareth Jones’, Strategic Management: An integrated approach, Porter’s model for analyzing an industry consists of five components. These are the risk of entry by potential competitors, the bargaining power of buyers, the bargaining power of suppliers, the threat of substitutes, and the amount of rivalry between established firms in the industry.

In the home improvement retailing industry the risk of entry by potential competitors is a low force. The top two companies in the U.S. home improvement retailing industry are The Home Depot and Lowe’s (Hoover’s Inc., 2011). These companies have established economies of scale through centralized purchasing. Home Depot and Lowe’s also have strong brand names and each provide specific brand-name products that have established consumer loyalty. Customer switching costs should not be a major issue in this industry due to the low-cost prices offered by the main competitors in the industry. The top firms in the industry have absolute cost advantages based on their accrual of experience, supplier relationships, and ease of access to capital (Hoover’s, 2011). Consequently, the risk of new entrants in the industry is low.

Rivalry in the home improvement retailing industry is strong. The industry is dominated by Home Depot and Lowe’s, but it is fragmented due to the high number of competitors and the vast variety of products and services (Sunita, 2010). Competitors in the industry include electrical, plumbing, and building supply stores. Other competitors are specialty design stores, discount stores, independent building supply stores, and even other retailers such as Wal-Mart and Sears (Home Depot, 2011). Industry demand is predicted to increase as the large Generation Y enters into the housing market and begins spending on do-it-yourself home projects. Also, demand is currently increasing as homeowners begin home-improvements which were set aside during the economic slump and the bursting of the housing market bubble. The increase in demand should moderate the strength of competition in the industry. However, the industry maintains high fixed costs for capital leases, buildings, land, and employee salaries which heightens the rivalry among competitors for the greatest sales volume (Joint Center for Housing Studies, 2011). Therefore, rivalry in this industry is strong.

The threat of substitutes in the home improvement retailing industry may be considered low. The products and services provided really are not ones that have any close substitutions. While tea may be considered a substitute for coffee, there is no close substitute for paint, drywall, or other home improvement supplies or services. The only product which may really be considered a substitute would be a new house. A substitute for services provided would be more customers choosing to perform their own installations of products by educating themselves on the necessary procedures (Sunita, 2010). In spite of this, these consumers will most likely still make their product purchases within the industry. Hence, the threat of substitutes is a low force.

The bargaining power of suppliers is a low force in the home improvement retailing industry. Companies such as Home Depot and Lowe’s depend upon products from well-recognized brand-name suppliers. If these firms are unable to maintain their strategic alliances and exclusive relationships with certain suppliers they might lose their product differentiation which attracts some customers. In addition, these companies have some reliance upon third-party suppliers. If these third-party suppliers were to run into financial or regulatory difficulties or for some reason be unable to uphold their side of an agreement there would be a negative impact on the companies in the industry. However, these firms maintain the majority of control over their own supply chains by eliminating the middlemen such as distribution centers. Also, as a leader in the industry, Home Depot has an online center, workshops, and scorecards for suppliers. This aids Home Depot in minimizing the control of its suppliers (The Home Depot, 2011). Lowe’s also utilizes a supplier website for building and strengthening supplier relations (Lowe’s, 2011). These activities limit supplier bargaining power to a low force.

The bargaining power of buyers or consumers is a strong force. There are three types of consumers for the home improvement retailing industry. There are the do-it-yourself customers, buy-it-yourself customers, and professional contractors. The number of competitors in the industry is relatively high granting greater bargaining power to the buyers. Consumer tastes, preferences, and expectations influence consumers’ demands for products and services (The Home Depot, 2011). This in turn increases the bargaining power of buyers. Yet, as long as the industry is able to anticipate and properly respond, consumers will have a lower bargaining force. In turn, this is why businesses in the industry place such a strong emphasis on customer consultation, customer service, consumer experience, and maintaining a strong consumer base. The bargaining power of consumers is a stout force in the industry.

Utilizing Porter’s five forces model this analysis illustrates that the home improvement retailing industry’s environment is currently an opportunity for established companies such as Lowe’s and Home Depot. There is a low threat for new entrants in the industry, substitutes, and bargaining power of suppliers. While rivalry and consumer bargaining power are strong forces in the industry, the established companies have a competitive advantage based on low-cost structures, economies of scale, and brand loyalty.

Strategy

In the 1990’s, Home Depot followed a differentiation business model. It focused on distinguishing itself from the competitors with knowledgeable, helpful employees, brand-name products, and a unique customer experience (Brown, 2007). As the home improvement retailing industry matured and became less fragmented, Home Depot recognized the need for a new strategy to maintain a competitive advantage and increase profitability. Therefore, Home Depot’s top management team decided to implement a cost-leadership strategy (Brown, 2007). Home Depot also utilized a chaining strategy to achieve cost advantages and consolidate the industry. It established networks of connected retail stores which helped them control their supply costs (Hill & Jones, 2008).

The cost-leadership strategy The Home Depot adopted allowed it to lower its cost structure and improve operating performance. This has enabled Home Depot to be more profitable than Lowe’s and other competitors, such as Menards. Another benefit of the cost-leadership strategy is that Home Depot is able to charge a lower price which attracts more customers and increases its competitive advantage (Corral, 2010). The Home Depot has been able to “destroy brands and transform entire products into low-margin commodity markets (Schwalm & Harding, 2000).”

Within its cost-leadership model, The Home Depot has established a “three-pronged strategy to boost business this year and onward (Corral, 2010).” It is specifically concentrating on supply-chain transformation, merchandise transformation, and customer service. According to Marvin Ellison, evp, U.S. stores, the three-pronged strategy creates great value for Home Depot while instituting product authority (Corral, 2010). Along with this, “Home Depot is shifting its model to cater to do-it-yourself customers” by changing its “product-mix in stores to focus on smaller projects” since the “money is in small projects that homeowners can accomplish themselves over one or two weekends without breaking their bank accounts (Peterson, 2011).” Home Depot wants to improve customer service and simplify store operations.

Actions

According to Corral, “The supply chain transformation relates to the rollout of company’s new rapid deployment centers (RDC) (2010).” The RDCs have “dramatically improved store environments,” and allow for the shifting of payroll from moving freight to concentrating on customers (Corral, 2010). Nineteen new RDCs have been opened and now cover 100% of the retail stores (Wahlstrom, 2010). According to Ellison, the RDCs have “improved lead times and they’ve improved our overall turns (Corral, 2010).”

The merchandising transformation initiative focuses on “providing great value and reestablishing product authority (Corral, 2010).” This allows individual stores to more closely monitor their own product inventories. There is also an automated clearance cycle which reduces the amount of products that are marked down. In turn, this aids Home Depot’s profit margin (Corral, 2010).

Good customer service is vital for The Home Depot to maintain its competitive advantage. Therefore, The Home Depot is concentrating on associates who interact with customers, as well as customers themselves. Associates receive a generous benefits package, and good performance is always rewarded. Home Depot also provides leadership to allow associates to continue developing their knowledge (Corral, 2010). Knowledgeable employees are better able to meet consumer needs. This leads to autonomous actions on the part of the associate which is important for combating new technology and adverse situations (Hill & Jones, 2008). For customers’ benefits, Home Depot has simplified its product return process. It has also begun providing guaranteed price matching, as well as other bonuses (Corral, 2010).

Home Depot is working to attract new customers through technological advances such as, its online website, iPhone and Android apps, self-checkout with SAP platform, and YouTube videos. The online website provides a much larger assortment of products for consumers than in stores (Smith, 2006). The self-checkout technology allows more employees to be on the store floor assisting customers, and saves Home Depot $1 billion a year (Dignan, 2005). The smart-phone applications allow customers to search and shop from their phones, locate stores, and learn individual stores layouts. YouTube is a great way to achieve media-promotion and the free-help videos and how-to advice builds The Home Depot brand. Hundreds of their videos are viewed in over thirty countries (Zmuda, 2011).

Additional actions that Home Depot has taken to attract new customers include: new products, “new-everyday savings,” credit card program, and targeted circular advertising (Wahlstom, 2010). New products include the Martha Stewart Collection, soft flooring, and theater systems. The “new-everyday savings” provides discounts for customers who use their Home Depot credit card. The targeted circular advertising focuses on specific market segments, such as the do-it-yourself customers (Wahlstrom, 2010).

Financial Analysis

An analysis of trends, a competitor, and the industry reveals that Home Depot, Inc. is in a good financial position. An examination of trends of Home Depot’s ratios for the years of 2007 through 2011 revealed several points. Please refer to Table 1 as a reference. In 2007 Home Depot’s inventory turnover had been 4.09. The turnover rate increased throughout 2008 and 2009 spiking up to 4.43 and declining again through and 2011 and is now down to 4.21. The inventory turnover rate has not reached 2007 levels yet. However, with the continuous recovering of the economy, HD may be able to regain pre-crisis levels. In 2007, Home Depot’s debt ratio was at .52, yet in 2008 it spiked to .60. It may be that HD took on more debt to continue operations through the recession. HD’s debt ratio began to decrease in 2009, yet it has not regained pre- economic crisis levels. In 2007, Home Depot’s return on assets was .11 and began to decrease through 2008 and 2009. However, the return on assets has begun to increase again for 2010 and 2011. HD’s current ratio for 2007 was 1.39 and dropped down to 1.15 in 2008. Since 2009, HD’s current ratio has steadily increased, yet it has not achieved 2007 levels. The economic crisis had a significant influence on Home Depot’s liquidity, but Home Depot is regaining the liquidity necessary to meet its debt obligations.

An analysis of Home Depot, Inc. in comparison to Lowe’s Companies Inc., a home improvement retailing competitor, revealed interesting ratio differences between the two companies. Please refer to Table 1: Home Depot’s Ratios and Table 2: Lowe’s Ratios for specific ratios (on page?). Compared to Lowe’s, Home Depot has had a higher total asset turnover from 2007 to 2011. Therefore, Home Depot may be utilizing its assets more efficiently than Lowe’s. Home Depot’s inventory turnover rate was higher than that of Lowe’s for 2011 and 2010. This may indicate that Home Depot’s inventory is more liquid than that of Lowe’s, or Home Depot may have stronger inventory management. Also, Home Depot’s return on assets has been two percent higher than that of Lowe’s in 2011 and 2010. This may reflect that Home Depot has a management team that is more effective at creating profits with its available assets.

A comparison of growth rates and price ratios reveals that Home Depot is currently in a stronger position than Lowe’s. In an evaluation of sales this quarter versus the previous year’s quarter, Home Depot has a 3.8% sales growth rate while Lowe’s only has 3.1%. Also, Home Depot’s net income for the year to date versus the previous year to date was 121.9 in contrast to Lowe’s -34. However, Lowe’s 5-year annual dividends were 30.73 while Home Depot’s were only 18.76. It may be that Home Depot is claiming more in retained earnings than Lowe’s. Additionally, Lowe’s P/E ratio is 18.9 in contrast to Home Depot’s 18.7. Yet, .2 may or may not reflect a significant difference in price/earnings. Home Depot’s current price/book value is 3.23 while Lowe’s is 2.0. This leaves Home Depot 1.23 points higher than its competitor. Home Depot’s current price/sales ratio is 0.90 while Lowe’s is 0.72. This is a reflection of Home Depot having a higher stock price than Lowe’s. Home Depot’s price/cash flow ratio is 12.30 compared to Lowe’s 9.80. Since Home Depot has a significantly higher price/cash flow ratio, it must have more cash on hand to utilize than Lowe’s. This is apparent since the statement of cash flows adds back in the costs of depreciation which are really just a “paper cost” without cash outlay.

An assessment of Home Depot’s relation to the home improvement retail industry, Home Depot seems to be doing well. Home Depot’s gross profit margin of 34.3 is above the industry’s 33.7. Home Depot also has higher pre-tax and net profit margins than the industry. Home Depot’s sales for this quarter versus the previous year’s quarter are .30 higher than the industry, and HD’s net income for the year to date versus the previous year is 121.90 compared to the industry’s 62.40. Home Depot net income rate is substantially greater than the industry average. This may reflect that Home Depot’s management has been more efficient at controlling costs than other companies in the industry. Yet, Home Depot’s dividend rate is 18.76, while the industry’s is 22.31. Home Depot may be claiming more retained earnings than other companies. Finally, Home Depot’s price/sales ratio, price/book value ratio, and price/sales ratio are slightly above those of the industry.

Home Depot, Inc.’s financial position appears to be well and stable. Home Depot was in a strong position in 2007 which it lost during the economic crisis of 2008. Yet, Home Depot has been steadily making gains since then to control its inventory, costs, and debt. Home Depot seems to be managing operations more efficiently than its competitor, Lowe’s. Home Depot’s market price, book share value, return on assets, and total asset turnover are higher than Lowe’s. Home Depot has been riding alongside the industry, as well as surpassing it in areas like sales and net income. Home Depot, Inc. is operating at a satisfactory level.

Secret Discounts at Home Depot

Shopping strategies to save money

I have been shopping at Home Depot since they first opened to buy many different products for my remodeling company. I’ve found several shopping strategies over the years. Most of these money saving tips are legit, a few are a bit sneaky because they exploit Home Depot’s system.
3D Printers at Home Depot near you soon
Gift Card
Gift Card | Source
Home Depot credit card

Home Depot normally offers a 5% discount on the first purchase when opening a credit card with them. They also offer 6 months deferred interest on every purchase of $299.00 or more. Occasionally they offer promotions of 10% on your first purchase or deferred interest. It is best to purchase everything you need this first purchase because it is only allowed one time. Or you can choose deferred interest during this promo of 12 months on a purchase of 299.00 or more, 18 months deferred on $999.00+, or 24 months on $1999.00+. During this promo it’s either the 10% discount or the deferred interest on your first purchase. Once again it’s best to purchase as much as possible on your first purchase to save the most money.

Home Depot also offers a commercial credit card which saves 5% on every purchase, but you must have a business to qualify. There is also a Project Loan offer which has the best interest of all their credit programs. This is a bank loan that is used exclusively on materials for large remodeling projects purchased at Home Depot. You would need to ask an associate for full details on these loans, as they are specific to each customer’s circumstance.
Sneaky shopper
Sneaky shopper | Source
Sneaky ways to save money

Home Depot has policies that can be exploited to your advantage and even though they know about these policy exploits they still allow them.

Using your new credit card you can max it out on your first purchase and buy more than you need at a discount of 5% normally or 10% during one of their credit promos. Then return the products you don’t need without your receipt and do not tell them you bought the things with your card. They will give you a gift card for the full price of the products, which you can use to buy other products when you need them.

You can also purchase clearance items at one store and return them to a different Home Depot store where they are not on clearance without a receipt to get a full refund on a gift card. They will not allow you to return a gift card, it must be used in one of their stores or online. You can do this same thing with their competitor match program, explained further down on this webpage. You simply use their match program to get a 10% discount and then return it later without your receipt for a full refund on a gift card. Or buy a damaged product at a discount and then later return it for a full refund on a gift card without your receipt.
Home Depot Apron
Home Depot Apron
Sign Codes

Just as Len Rapoport discovered at Costco, Home Depot also has price sign codes, I imagine most retail stores have them. For Home Depot if the price ends in .66 cents the item has been marked down. Products are marked down for many reasons. Sometimes they are slow moving (selling slowly), damaged (still usable or maybe package is damaged),a special order that was returned, etc. Buying slightly damaged products can save you money. For example a door that is only primed and scratched can save you money and is easy to fix when you paint it. A sales associate or specialist in the millwork department can mark it down for you.

Occasionally you may see a sign that was marked down to .01 cent, this is a code stating that this item can no longer be sold. The product will more than likely be donated or thrown in the trash. This code was put on a product telling associates to remove the product from the shelf and take it back to receiving to be correctly processed.
Green Tag
Green Tag offering 25% discount.
Green Tag offering 25% discount. | Source
Green Tags

Green Tags are special order products that have been returned and discounted. They may be doors, windows, flooring, or many other items. These items may have been returned because either they were made to the wrong specs by the manufacturer, they were ordered incorrectly by an associate, or the customer changed their minds when they received the item. Either way they were returned and so they will be sold at a 25% discount from the original price. Sometimes the discount is even more. Occasionally these green tag items (aka value bin) items may be slightly damaged, so check them thoroughly before purchasing them. Green tag items can be a huge discount on expensive products. Green tags will show the current price and the was (original) price.
Yellow Tag
Clearance signs are yellow
Clearance signs are yellow | Source
Yellow Tags

Yellow Tag signs on items are products that are being discontinued and marked down. When these sell out they will not be re-ordered. These tags will also show the discounted cost and the was cost of the product. As you can see the clearance tags do not end in .66 cents, only the green tags and manually marked down products do.

Menards – Dedicated to No Customer Service

The First Refund Attempt

My parents purchased the Christmas décor pictured here before it was on sale.

Then Menards Christmas ad arrived and they noticed it was on sale and could save a considerable amount of money!

They went to a local Menards with the receipt in hand and inquired about receiving the difference back between what they paid (full price) and what the 2 deer and sleigh were now on sale for.

They were turned away at the Menards CUSTOMER service desk.

If you’ve ever done this before, most stores will allow you to bring the receipt back in & not the merchandise and just do a price difference refund.

NOT MENARDS obviously!

My 65 year old parents, father driving a cart around the store, not pushing, a ride on cart because he broke 8 ribs about 3 months ago and is still healing, were informed by a Menards associate that they must bring the 3 LARGE boxes back to the store with the receipt, and then they could issue this credit difference.

Hey Menards – are you kidding me? What is the point of overly inconveniencing loyal customers? Do you not know the policies of your competitors?

My parents, being the now very angry and upset, but calm consumers, left the store and planned to return a few days later with the actual 3 LARGE boxes so they could follow the ridiculous terms set forth by Menards (which are not mentioned in their return policies online I might add!)
The Second Refund Attempt

My father requested that my husband go with him to return the 3 LARGE BOXES that he couldn’t carry because of the broken ribs etc. This was on 11/13/13, they set out for Menards in Burlington Wisconsin.

So now my husband is inconvenienced as well by Menards and their horrendous treatment of customers.

My husband & father arrive at the Burlington Menards store. My husband brings in the 3 boxes of Christmas décor & my father rides the cart up to the service desk.

The person behind the desk tells them that they must return & repurchase all 3 boxes.

I find this completely ridiculous, I’ve worked retail & customer service, it’s very simple to do a price adjustment (without the merchandise there!) and then just give the customer the difference. The difference here is Menards didn’t want to be accommodating to the customer, not. at. all. because it just gets worse from here.

So the cashier does her stuff and then my dad was repurchasing at the sale price.

She looks at them and informs them that they can’t repurchase the ones that were just returned & they have to go to the Christmas decoration department and gather new ones (3 LARGE BOXES) and buy the new ones.

Um – WHY?!

They’re the same product they just had to return due to your inconveniencing customers!

There’s nothing unique about the 3 he returned and 3 others on your sales floor. They’re UPC numbers, not unique to anything but the product not the boxes!

Are you just trying to be a**holes Menards? Because at this point there is no logical reason to send an injured senior citizen back to get the SAME merchandise your customer service person has sitting next to them, to repurchase it!

If anything, YOUR employees should have gone back & retrieved new (but the same) merchandise for YOUR CUSTOMER!

My father was also informed that if the merchandise was no longer available (sold out) that he MIGHT be able to purchase the ones that he just returned. ARE YOU ACTUALLY SERIOUS HERE MENARDS?

MIGHT?

He should have been able to repurchase the ones he returned right then and there, no problems, no attitude. Just plain old simple GOOD customer service.

Never Again Menards!

After many years of shopping at Menards, I’ll pick customer service & higher prices and shop the other big box home improvement stores as well as the smaller local hardware stores.

The thought of spending a dime at Menards makes me sick knowing how they treat their customers, my senior parents.

I hope you re-think your purchases at Menards also, you may need to return a purchase or obtain a price adjustment someday too.

What You Should Know Before Buying a Bank-Owned Home

Expect Additional Costs When Buying From a Bank

My husband and I recently bought a bank-owned REO home in the final state of foreclosure in the northwest corner of the Phoenix metro area. As buyers new to buying a home from a bank, we knew we would experience some unexpected and hidden costs. These costs increase our out-of-pocket expenses and were in addition to the purchase price of our home. I hope what I learned from our experience will help make a more informed choice when buying from a bank, a builder, or through traditional real estate sales and save some money, too.

Overall, we are very happy with our foreclosed home purchase. We were fortunate to find a 4-year new home that was well-taken care of by its previous owners. It has many upgrades that we wouldn’t be able to afford in a new build.

I am not a realtor and do not work in the housing industry. I am a home buyer. This home we bought is the fourth we’ve owned. I don’t make any promises or guarantees, and the opinions expressed here are just that.
We Should Have Used a Different Bank to Get Our Home Loan
What we did: Buying from a credit union

We decided to use our credit union to get a loan to finance the purchase of our home. We had a history of on-time payments with our credit union, and as established customers had enjoyed low interest rates and terms of service on previous loans. We felt our relationship with the credit union as established customers with a borrowing history would help create a seamless borrowing experience. This was our experience in the past.

Unfortunately, that wasn’t what happened. The reality was complicated by the tightened lending regulations and the small lender’s relationship with Fannie Mae. We were prequalified, but preapproval was contingent upon not only OUR credit worthiness, but also the credit union’s acceptance of the property we bought. Our credit union was extremely leery of loaning us the money for the purchase of our home. The good news? We got an amazing rate. The bad news? The credit union added a costly private mortgage insurance policy to our loan that we could and should have avoided. And dealing with unexpected problems of borrowing from the credit union almost spoiled the deal for us not once or twice, but three times.
What you can do to avoid this problem

Get prequalified, then choose a lender that has a history of working well with the bank you are purchasing from.

Get prequalified through a lender you trust so your offer will be accepted by the bank you want to buy from. It is likely that you will have to place offers on multiple properties, so having a preapproval in the works will help you get your offer accepted.

Find out what special incentives the bank selling your home will offer if you use their preapproved lender. Banks historically haven’t been in the real estate business, and using the bank’s approved lenders could help smooth the way for a shorter, more successful buying experience, and cut down on costly delays, or worse yet, deal-breaking snafus. Call all of the preapproved lenders on the list and use the lender who will offer you the best loan rate and terms. As contrary to conventional wisdom as this sounds, it would have saved us about $150 dollars a month, which is what we are now paying for private mortgage insurance.
More on Mortgages

Is it a Good Idea to Refinance to a 15-Year Mortgage…
Is a 15 year mortgage ever a good idea? This article explains how this financial move can help you build equity faster and pay off your home early.

We were able to buy our dream home from a bank, but purchasing most of the missing appliances increased our out-of-pocket costs.
We were able to buy our dream home from a bank, but purchasing most of the missing appliances increased our out-of-pocket costs. | Source
Appliance Purchases Are the Norm, Not the Exception

Our home came with a working stove, a non-working dishwasher, and spaces for a brand new microwave and refrigerator. The previous occupants had removed these from the home and the bank did not offer an appliance allowance. We felt ours was a good find because the home DID have a large quantity of nice cabinets, tile in the right places, and granite counters in the kitchen. We looked for flooring and kitchen upgrades in the home we bought, figuring the appliances wouldn’t be cheap, but new appliances would add value to the property.

After we also purchased an energy-efficient front-loading washer and dryer. These purchases added up quickly. We paid over $3000 for the new mid-range appliances. On the one hand, we have new appliances we know to be under warranty, and they certainly look nice in our kitchen. On the other hand, there are cheaper ways of going about obtaining appliances.

For instance, we could have had the dishwasher repaired instead of replacing it. We also could have saved money by paying cash for second-hand appliances. If you are short on funds getting into your bank-owned purchase, make sure you factor the cost of appliances into your home purchase.

Rca Credit And Rca Credit Services: Supplying You With Credit Repair For Your Trade Lines And Bad Cr

Trade lines are various credit accounts that are on the list in your credit report. With trade lines, creditors can determine if you are eligible for a credit approval or not. Moreover, information in trade lines will affect your credit score as a whole which has a lot of effect in your credit applications and financial programs.

When you have bad credit in your trade lines various things can happen in your credit or loan application that is not favorable. Creditors can increase your interest rates if they find that you are eligible for a particular loan with your current payment capacity. They can also choose to lower your credit limits so that your credit exposure is maintained in such a way that they will not have high credit risks with you. Worse, your credit or loan application may not be approved at all. Bad credit indicates that you have failed to maintain your payment at the right time. This presents a picture to creditors that they are at risk that you will not pay your due at the right time or may not be paid at all.

Since you cannot do away with bad credit in your trade lines, you are left with an option to do credit repair. However, you cannot do credit repair alone considering that every time you want to “make-up” with your bad credit record by applying for credit with the assurance that you will do better this time, creditors still evaluate your credit capacity from the trade lines and not by your verbal promises. With such, you need a professional credit repair specialist to get the credit score that is needed to have your current credit approved and to get a clean trade lines in the long run. Companies that do credit solutions are widely available in some financial institution with this can of specialization.

RCA Credit is one of the financial institutions that can help you with credit repair. They do credit solutions in such a way that there are long term effects in your credits scores and trade lines. Basically, you need to enroll or participate in their RCA Credit Service programs. You can do so by first contacting their office through their online site. In their site, you will see the details of their services which include increasing credit scores, erasing bad credits on your trade lines, maintaining positive payment history for several straight years, and teaching how to do credit repairs, and impart knowledge regarding the 1974 Act of Equal Credit Opportunity and the credit bureau. In the long run, you get your credit solutions plus maintenance of clean trade lines.

Participating in credit solutions are not generally easy since credit repair is not a day-to-day necessity. However, the result of participating with companies that deal with credit solutions are rewarding at the end. This is better than having a bad credit always attached to your trade lines. Remember one way or another, you would need to do credits aside from the one that you have in your current trade lines. Once you stained the trade lines with your one time experience on bad credit, you are then left with only one option, to do credit repair with companies on this field such as RCA Credit.

Rebuild Credit Profile, Maintain Good Credit, And Get Credit After Bankruptcy With Rcacredit And Its

When you loose the ability to pay your credits, you have the tendency to file for bankruptcy. Bankruptcy has become an escape goat for many who want to be free from financial obligation with creditors. With bankruptcy, the court will either extend your payment terms that would be favorable to your or you will have to pay the creditor in other ways like exchange it with property and equipments or from the purchase of the same. It would seem favorable on the debtor’s side especially on the part of immediate relief of obligation. The relief comes by extension of payment until the debtor is able to pay, or by using of assets for payment. In both ways, the debtor can escape from the pressure of the credit’s due and amounts to be paid.

But filing for bankruptcy does not necessarily give you more benefits. Although it can be an option for inability to pay, it has grave financial consequences. With bankruptcy, your credit record is stained. This means that other possible creditor may not rely on your ability to pay anymore no matter how well you recovered from financial loss. Bankruptcy records are open to the public. Creditors would absolutely dig into your records to evaluate your application for credit. Remember creditors are into business. If they find out that they have low chances of earning from you because of your tendency to drop your financial obligation, then they would not definitely consider you as an advantage. The only way that creditor approve of your application is when you have good credit records and is able to maintain good credit standing.

You may wonder, is credit still possible after bankruptcy? Generally, the answer is no because of the consequence of bad credit record. However, you can regain good credit with the help of financial services that specialize in rebuilding credit profiles. These companies can help you get credit after bankruptcy by developing programs that would provide you with in-depth understanding on how credits work. One of the companies that offer such is RCA Credit Services. This company is under service based industry that tackles on credit enhancement and boosting of credit scores. When you enroll on RCA Credit Services, you will be able to re-establish your credit standing and maintain good credit that would benefit you in the long run.

RCA Credit Services can educate you on various aspect of the credit industry. You will learn how to repair your credit records and obtain financial freedom. Moreover, they involve financial institutions that can be part of the program to handle your loan needs that would both be satisfactory for them and at the same time expose you to maintain good credit with them. They can provide you with answers to all credit aspects that will rebuild your credibility in terms of credits. Finally, with RCA Credit programs, you get to increase your credit score that would make you an advantage to creditors.

All in all, RCA Credit can provide you with the ability to get credit after bankruptcy. All you need to do is to contact them and cooperate in their programs that put you on positive credit ground.

10 Things To Do With Your Old Fax Machine

If you’re thinking of doing away with your old fax machine and are making the switch to on line fax services you’re taking one step in the right direction. You will probably be saving yourself time and money with less ink and paper to buy and less trips to the office supply stores. Once you do make the switch you’ll be asking yourself “What do I do with my old fax machine?”. Before you toss it in the trash consider the environmental impact of the plastics and also the pollutants that may be in any left over ink cartridges. These are items that don’t belong in your average city land fill but don’t worry about that. We’ve got a few creative suggestions of what you might do with your old fax machine.

1. As fax machines get older they may become a bit of a business savvy or geek savvy nostalgic collectors item. That said, who wants a decorative fax machine sitting on their mantle or as their center piece? There are better albeit odd ways to reuse your retro fax machine. The first on our list being to build a fish tank or aquarium out of your old fax machine. The way most faxes are put together means the top and bottom pieces of the fax machines outer casing would make a great foundation for such a project. In the old days we built bird houses from wood. In the new century we’ve moved on to fish tanks from old fax machines. A little Plexiglas and silicone is about all you need to get started. The upper section of the fax with all its buttons and headset still intact will make quite an amusing lid for your new fish tank.

2. Next up, why not turn your fax machine into a retro computer case? The Internet is strewn with thousands of artistic and unusual case mods from model cars to old Nintendo cases or even Lego being used as a computer chassis. It really doesn’t matter what a computer looks like so much as what’s in it. Pick up a bare bones computer kit (CPU, Motherboard, and RAM) from a local computer dealer and get to work. Plenty of fun can be had wiring the existing fax machine buttons to your computer and wiring the phones ear piece as the PC speaker. If you’re really talented with electronics then go the extra mile and try to tie in the fax machines LED display to show hardware data like RAM and CPU temperature.

3. If building a computer is a touch too advanced for you then perhaps you might be interested in a technological art sculpture. Don’t just dissect your fax machine. Find some way of incorporating it into some unique artwork if you’re doing a piece about technology. A wild imagination can create deeply thought provoking art out of the oddest things. With our society edging ever closer to cybernetic technology becoming a reality it’s not hard to imagine an artistic cultural statement being made with a portrait sketch and fax machine innards as part of the piece.

4. For those who are not philosophical artists there are more functional ways of incorporating an old fax machine into your existing hobbies. If one of your children plays War Hammer for instance, all kinds of pieces from your old junk or fax machine can make great War Hammer terrain with a little paint and texturing. Not into War Hammer? How about turning your old fax machine into scenery for your model train set?

5. If you’re not artistic enough yourself to try one of the above ways of reusing your old fax machine it may be easy to find someone else who is. Film studios and theaters may have need of an old fax machine for a prop or may have more immediate insight into what an old fax can be turned into for use on the stage or on set. Fax machines may be disappearing from our world but the world of fiction is timeless and will always need items around to match the time periods of the stories we tell.

6. Imagine you need a secret hiding place to keep sensitive items out of site such as your passport or credit cards but you don’t have any secret nooks that are reliable enough. Why not hiding things in plane site? In the film Sneakers with Robert Redford the mathematician Dr Guntar Janek hides his top secret experiments in plain site by placing them inside an old answering machine case.

7. Too busy for any of those ideas? Well if you like to stay a bit retro imagine your flat or your office with a retro ‘fax machine’ for a phone.

8. If a decorative retro ‘fax machine phone’ isn’t enough incentive for you to reuse your old fax machine then it’s time for extreme measures. The size of a fax machines makes it a great platform for putting in wheels and a motor. Firstly with a little electronics hacking turn your fax machine into a portable phone. There are any number of options as to how you would build this. You might use the bulk of the fax machine as the portable phone base station and might simply attach the headset to a remote control car or it may work better for you to have the whole fax machine driving around. If you forgot to bring the phone in from the other room just grab your remote and drive it over to you! Even better would be to get in touch with some robotics students and the local patent office about building a phone that comes and finds you when the phone rings.

9. It’s not possible to write a list like this about old fax machines without recalling one particularly amusing film. While not necessarily the most responsible suggestion it must be covered. Whether for stress relief or just for fun you and some friends might want to reenact the printer scene from Office Space. Unlike the movie it is recommended that you wear eye protection and also wear gloves should you choose to strike the fax machine with your fists or palm. This can get a bit messy so if you choose to smash your fax machine into pieces please do so responsibly by cleaning up after yourself. Hold your fax destruction celebration in an empty parking lot where it will be easier to sweep up all the pieces as opposed to an empty field like in Office Space. If mindlessly smashing an old fax just doesn’t do it for you perhaps it would make a neat pinata!

10. In most of these suggested ways of reusing your old fax machine there will be some parts left over. Most often the internal parts which may be reusable or may contain chemicals that would be harmful to the environment. If none of these suggestions strike your fancy or you have left over parts from one of the nine projects listed above then the best recommendation is to pay a visit to an electronics recycling depot and drop off the remains of your once noisy fax machine. There are much more functional paperweights out there and electronics recycling depots are popping up in every town thanks to government recycling programs.

Whatever option fits best for you don’t be afraid to take pictures of the build process and post them on the Internet for all to see. Someone is always interested in seeing the latest PC case mods and strikingly odd reuse of old electronics. The most important thing is to realize that fax machines are old dinosaurs in this technological age. The job of fax machines has been replaced by software based fax services that are on line and much more flexible. As the digital revolution continues these on line fax services will continue to grow and offer more intricate services that their old physical counterparts would never be capable of. There is nothing modular or flexible about that old hunk of plastic on your desk aside from the phone cord. So be sure to retire your fax machine creatively and take the next step in the on line business revolution. Step into the future with on line fax services and see what new tools this future holds.

Home Depot Carpet

Carpets offer comfort and warmth in a home like no other thing can. They provide the setting for a lovely ambience and if maintained carefully, provide years of durability and good service. They are particularly suited to environments inviting coziness, like bedrooms. Many carpets though synthetic, are also available to purchase in real wool with variations in thicknesses. In connection with this, the Home Depot Company is one that offers gorgeous carpets and great value installations with a guarantee to make your house a beautiful home.

Cost Effectiveness:

Carpeting your home can be quite an expensive business. In the wake of the credit crunch, companies are trying to back all their losses by charging high prices for the good they offer. Home Depot, in this regard, stands out among all by keeping their prices still affordable to everybody. In fact, Home depot offers to match the price if a customer finds a comparable product and installation cheaper elsewhere. In addition to this, all customers also receive a 90-day satisfaction guarantee: if anyone is less than happy with their carpet, Home Depot will replace it for free.

Customer Support:

Aside from providing low-cost, good quality carpeting, Home Depot is dedicated to giving its customers excellent customer service as well. Every one of their employees is well trained to answer any and all questions that a customer may have. While the end result of carpeting a home can be gorgeous and rewarding, the process itself can be quite tedious, essentially because it involves measuring to perfection the dimensions of every room. Wrong dimensions only mean a waste of time, effort and money on the part of everyone involved in the process. Along with this, what kind of carpet to put in the room, what color, what style are all questions that have to be answered.

Home Depot Carpet allows its customers to look at all these things before fitting in their carpets and offer expert advice on how it can all be done. All employees work towards giving their customers practical help on how their home can be carpeted in just the right manner to that it all fits in with everything.

Variety Offered By Home Depot Carpet:

To meet the needs and wants of their different customer base, Home Depot offers a wide variety of carpets. These range from the cheaper synthetic carpets to the more expensive Persian ones, but there is something available for everyone. In fact they have over 500 styles and more than a thousand color options where carpets are concerned.

So, select this particular company and find one quality carpet to enhance the beauty of your rooms.

Article Source: http://EzineArticles.com/4204845

Enjoy Some Amazing Home Depot Credit Services

Arthur Blank and Bernie Marcus are the people behind the establishment of Home Depot. The concept behind the store was and still is to provide the tools and the necessary knowledge to people who are passionate about do-it-yourself projects. The company offers various tools, floor panels, tiles, kitchen cabinets and much more in their stores. Apart from individual customers, the store also deals in bulk quantity to contractors and construction companies.

Amazing Services:

With the company expanding rapidly and successfully, there are many services and facilities available for the clients. Home Depot credit services are many. For instance, consumer card, business rewards MasterCard and commercial revolving charge card are some of the credit facilities offered by the company. Applying for any of these packages offers great benefits; however, the major advantage is that you can manage your accounts with utmost ease.

Consumer Credit

Speaking of credit facilities, you should never forget to look at the consumer credit card. This credit card enables the customers to easily get their hands on tools and equipments required to complete their personal projects. There are many great features offered by this to the customers. If the bills are paid in full rather than installments then no interest is charged. However, to make use of this particular service, you need to meet the minimum requirement, which is $299. There are many special promotions and bonus offers throughout the year.

Commercial Credit

Commercial credit is a type of credit designed exclusively for contractors and businesses. This type of credit car is exempted of any annual fee and the purchases can easily be tracked so a check can easily be kept on the business. Accounts can easily be managed online and the charges can also be paid online either in full or low monthly charges.

Advantages of Choosing These Services

There are multiple benefits and advantages of choosing the Home Depot credit services. The credit card is valid in all 2000 stores. The billing statements are itemized making it easier for the customers for reconciliation and settlement purposes. One of the most promising advantage and benefit of the credit cards is that the customer is not liable for any false transactions made with their credit cards and home Depot takes immediate action to sort the matter out. So, think seriously about making use of these particular services, as they will help you reap some amazing benefits.

Article Source: http://EzineArticles.com/4201891

Mind Blowing Office Depot Discounts From My Home Office Solutions

All the enthusiastic traders start their business in a hurry, but after a few days they find themselves in the midst of great trouble and difficulty. Are you lacking in planning and experience and thus going desperate for formulating effective strategies for starting up quite effectively? In the initial stage you need capital and monetary facilities, plus there are more commodities that are also required for starting home business without much delay. And to help you out in starting business successfully you must avail my home office solutions LLC.

If you go on the market you will find no shortage of such companies who claim to dish out exclusive services for business starters. Thus, people are easily lured into a few sentences, but at the end of the day get fooled by the terrible service and more. What else? They invest in loads of bucks, but at the end of the day they were left with nothing in his hand.

So if you start your business you are sure to get an exclusive organization that offers services that none of the vendors can offer till date. Just revive your nascent business, by taking expertise from my home office solutions.

You want the best cleaning service depot and just start your business with a bang? Subscribe to myhomeofficesolutions.com and thus you can get special Office Depot Discount savings services. This Office Depot has entered into a partnership with the support of home office solutions and thus offers all participants a huge savings and discounts. Thus, at any time you can go to Office Depot for an exclusive solution, and thus obtain all the necessary stationery, which consists of paper, toner, and machinery, office furniture, promotional products and technologies. And from these Office Depot’s local stores you can get discounts up to 75%. In this way you can buy all the necessary elements of Office Depot stores, which are essential for the smooth operation of your business. In this manner you can thus save money and the things that you are sure to invest more money in a number of other fronts of your business and trade. Thus try out your hand into business by virtue of all the exclusive services that you can get from myhomeofficesolutions.com.

Plus, you can also get 500 minutes of long distance calling every month. Just sign up and get on myhomeofficesolutions.com 500 minutes PIN-code, as well as exclusive access code for long distance calls in any region within the United States. You can get the access code for every 500 minutes and it will be available for you every month until you have a membership.

If you delve into the matter, you find that there are many suggestions that you can avail from my home office solutions. The proposals are produced that are in fact too good to resist. In other words, you can make improvements to your credit, free medical care, insurance, pre-screened professionals and more. Explore business opportunities with myhomeofficesolutions.com and thereby improve your business in a successful manner.