Lowe’s offers its own Lowe’s Credit Card like many other stores. In the same manner, this card can only be used in Lowe’s stores, providing many discount schemes and the lowest interest rates at the remarkable home improvement stores.
A number of business credit cards all of which give you discounts and potentially special financing so let’s look first at that consumer card it is called the Lowe’s Advantage Card or Lowe’s Credit Card.
It’s a no annual fee card you should know up front that it is only accepted at low so you can’t use it outside of Lowe’s store.
Top Benefits Of Lowe’s Credit Card:
1. Lowe’s Credit Card Avails 5% Discount On Bill
In order to give the obvious ability to buy things on credit at the lowest the card does give you your sort of choice of discounts or special financing so you can choose to and this is probably the most appealing to the most people get 5% off on all of your Lowe’s purchases when you use the Lowe’s Advantage or Credit Card.
2. Deferred Financing Offers
Now you could opt instead of the 5% for special financing if you make purchases of $299 or more you could choose to have special financing of 0% for six months so you have to pay off your purchase within six months
In order to keep that 0% interest rate or if you made a very large purchase you could use special financing that gives you a 7.99% interest rate or more you could get that 7.99% financing for up to 84 months and then sometimes they are going to be some other special financing offers but you do have to choose your either take the 5% off where you take one of the special financings offers on the regular interest rate on this card that zero percent for six months
you will get that zero percent rate you won’t have to pay any interest as long as you pay off every penny within that six-month period if you leave any balance on from whatever that purchase was will basically the deal is off this is called Deferred financing in Lowe’s Credit Card, if you don’t pay off every penny within that six month period well then they charge you all of the interest from the date of purchase as if that deal had never existed and the regular interest rate on this card if you haven’t paid off every penny you were going to get charged as if you were being charged 26.99% interest from the day of purchase
3. Special Project Financing
The APR i.e. the annual percentage rate is high in Lowe’s Credit Card. But if you buy something above $ 2000 then you can opt for Project Financing which can decrease your APR by allowing you to pay in installments within a set period of time.
Lowe’s Credit Card has three options for project financing:
- 3.99% APR: This is applicable for 36 fixed monthly installments
- 5.99% APR: This is applicable for 60 fixed monthly installments
- 7.99% APR: This is applicable for 84 fixed monthly installments
4. High Rate APR
Before applying for Lowe’s Credit Card one should consider the APR of the card, the standard APR of 26.99% is being charged to the user.
5. Special Savings On Your First In-store Purchase
Now let’s look at the lowest business cards there are multiple lowest business cards each one targeting sort of a different slice of the potential business market for sort of individuals or smaller-scale operations probably the best Carter the one that you would choose would be the lowest business rewards then there is a $100 bonus opportunity for new cardholders you’ll actually get five points per dollar on those purchases for the first six months but also the ability to earn some points and get some rewards in the form of gift cards from Lowe’s Credit Card or American Express
6. 0% Interest Rate For the First 6 Months
Lowe’s Credit Card lets you pay your full balance each month or you can revolve a balance meaning that you can pay off part of your balance and let the other part revolve to the next month or go over into the next month in which case you would pay interest so you’d rather not do that if you can avoid it now you do have a 0% interest rate for the first six months with this card revolve a balance but after that, you are going to have an interest rate anywhere from 15.74% to 24.74% and depending on what your credit history is and where you would fall in that interest rate range
In the Lowe’s business advantage card, no annual fee will get that same 5% off on your lowest purchases with this card in terms of financing this card the purchases that you make you can get 60 days to pay them off without paying interest so you can revolve your balances but you have a full 60 days to actually pay off that balance before you would get charged interest now that interest rate is 21.99%
Other Advantages Of Lowe’s Credit Card
1. Sign Up for the Loyalty Programme
When you are going to get charged some interest you have to sign up for the Lowe’s 4 pros loyalty program and register your Lowe’s Card Card with it in order to get all the sort of perks of this card
you have to ask for your 20% discount on the day that you are approved for the card
2. Prepaid Debit Card
Finally, there’s one more card from Lowe’s it is actually not a credit card it is a prepaid debit card so it is called the Lowe’s preload Discover Card you can have one or more cards that you put a certain amount on it. Lowe’s, the nice thing is, just only being a debit card is that when It is used you get that same 5% discount and those Lowe’s purchases so otherwise, it is just a prepaid card.
Procedure To Apply For The Lowe’s Credit Card
- You can apply online by visiting lowes.com and filling up the required information in the online form for Lowe’s Credit Card
- You can also apply for the Lowe’s card in-store by calling on customer service center or asking for the registration in its outlet.
Other Details Of Lowe’s Credit Card
- Synchrony Bank issues Lowe’s, Credit Card. All the transactions of Lowe’s Credit Card get handled by this bank.
- You need a minimum of 600 credit score to qualify for Lowe’s Credit Card