How To Apply For The Lowes Advantage Card
You can apply for the Lowe’s Advantage Credit Card online by visiting lowes.com and clicking Apply Now. Youll need to provide personal details, including your name, address, and Social Security number.
You can also apply for the Lowe’s card in-store if you prefer. Ask at a register or talk with customer service about applying for credit. Lowes will often run limited-time sign-up offers that are only valid to those who applied in-store, so we recommend inquiring on your next trip before applying online. Applicants with a credit score considered fair or above are typically approved within a few days.
Lowes Advantage Card Extended Financing Options
Another aspect of the Lowes Advantage Card that I like is that you get to choose your bonus feature. You can elect to get the 5% off your purchase, or you can choose from Lowes extended 0% financing options of six, 12, 18, or 24 months depending on the category and size of your purchase. Here is the financing breakdown:
- Spend $299+ and get six-month financing
- Spend $299-$998.99 and get 12-month financing
- Spend between $999-$1,998.99 and get 18-month financing
- Spend $1,999 or more and get 24-month financing
Lowes financing options are extremely flexible and the perfect way to make purchases more affordable. This way, you can get the supplies you need to finish a project and pay off the balance over time without interest.
Is The Lowes Credit Card Worth It
by Matt Frankel, CFP® | Updated Sept. 2, 2021 – First published on Feb. 18, 2019
Many or all of the products here are from our partners that pay us a commission. Its how we make money. But our editorial integrity ensures our experts opinions arent influenced by compensation. Terms may apply to offers listed on this page.
The Lowe’s Advantage Card has some pretty good benefits if you’re planning to do some projects around the house.
Like most national retailers, Lowe’s has a co-branded credit card product its customers can obtain, called the Lowe’s Advantage Card. Issued by store credit card giant Synchrony Financial, the Lowe’s Advantage Card offers some pretty valuable perks.
Customers who charge Lowe’s purchases to the card can choose between a strong everyday discount, or special financing terms, and the card has no annual fee. There are some downsides to consider as well, as the card isn’t the best choice for everyone. Here’s a rundown of the benefits and drawbacks of the Lowe’s Advantage Card, as well as some alternatives you may want to consider.
Note: This is about the Lowe’s Advantage Card, which is the personal version of Lowe’s co-branded credit card products. There is also a business Lowe’s credit card that is issued by American Express, and several forms of Lowe’s business accounts.
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Is The Lowes Advantage Card Right For You
If you have a large home improvement project coming up or generally spend a lot on home furnishings, tools, or landscaping materials at Lowes, this card offers great payment flexibility and savings.
For your everyday home purchases whether youre replacing lightbulbs and batteries or attempting a DIY project 5% savings is better than youll find on most cards with home improvement rewards categories.
The cards special financing offers can be beneficial too, especially if youre buying new appliances or other pricey gadgets and want the chance to pay them off without interest for a limited time. But there are limitations to keep in mind. Most importantly, the no interest offer isnt the same as many 0% intro offers on general credit cards. Its a deferred interest offer, so if you dont pay the full amount by the end of the intro period, youll incur interest payments going all the way back to your purchase date.
Downsides Of Lowes 5% Off
Although 5% is a nice discount on home improvement purchases, the limitations of this discount can mean you might not even get to take advantage of it.
If you are specifically looking for a card that offers a discount or rewards on your Lowes purchases, there are cash back credit cards without these limitations.
Another option for saving on Lowes purchases is with the Chase Freedom Credit Card, which awards up to 5% cash back on rotating quarterly categories.
However, for Lowes purchases specifically, the store happens to be a retailer that is part of the online Chase Ultimate Rewards portal, which awards 3% cash back on all your Lowes purchases.
This card allows you to earn cash back on your home improvement purchases, as well as many other types of purchases that arent at Lowes.
Unless you frequently shop at Lowes, the Chase Freedom are better options.
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Lowes Advantage Card Vs Walmart Store Card
While Walmart is not a home improvement store, it boasts a large home improvement department, carrying paint, lighting fixtures and tools. And of course, Walmart carries a huge selection of general merchandise and food in its many locations.
The Walmart Rewards Card is a store card that provides almost the same benefits as its big brother, the Capital One® Walmart Rewards® Card but is easier to obtain approval for since it is available for customers with fair credit or better. Although the card can only be used at Walmart, Sams Club and Murphys USA gas stations, the vast selection at these stores makes the Walmart Rewards Card more of a general purpose card.
The Walmart Rewards Card is especially attractive due to its rich rewards program, particularly in the first 12 months of holding the card. For the first year, cardholders receive 5 points per dollar spent at Walmart stores if using the Walmart Pay app which translates to 5% cash back.
Ongoing rewards include 5% back on Walmart.com purchases, 2% on in-store Walmart purchases, 2% back on gas purchases at Murphy USA gas stations and 1% back at Sams Club stores and Sams Club gas stations. This could add up to significant savings if you shop at Walmart and Sams Club frequently. Rewards are unlimited. In addition, theres no annual fee for the card.
How Can I Get Approved For A Lowes Credit Card
Fairly easy to get approved for. You only need fair credit to get approved for the Lowe’s Store Card. That, combined with its lack of an annual fee, makes the Lowe’s Card a decent choice for low-cost credit improvement. If you aren’t sure how good your credit is, you can check your credit score for free on WalletHub.
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Making A Lowes Online Payment
To make a payment online, you need to register for an online account with the bank that issues your Lowes credit card. To make a payment on your American Express Lowes Business Rewards credit card, visit the .
For Synchrony-issued cards:
Lowes Advantage Card Vs Alliant Platinum Rewards
The Alliant Visa Platinum Rewards Card is issued by Alliant Credit Union. It is a no annual fee card that provides the equivalent of 2% cash back on all purchases and requires only fair credit for approval. As a Visa card, it has wide acceptance, at over 400 million merchants worldwide in over 200 countries.
Alliant offers a welcome bonus of 5,000 points if you spend a total of $500 within the first 90 days. Each point is equal to one cent. You would get 1,000 points for the $500 in purchases and 5,000 points as a welcome bonus, a total of 6,000 points.
Clearly, if you are spending considerable amounts at Lowes, the 5% discount is more valuable than 2% cashback. However, the Alliant Visa Platinum Rewards Card earns cash back on all purchases, so depending on how much you are planning to spend at Lowes, you may earn more rewards with a card that gives you rewards on every expenditure you make.
One stipulation is that you must join the Alliant Credit Union in order to apply for the card. Even if you do not meet their typical membership criteria, you can become eligible to join by contributing $5 to Foster Care for Success, a non-profit community organization.
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Will A Lowes Credit Card Affect My Credit Score
Store credit cards can be an easy way of rebuilding a credit score. For example, making small purchases and paying your bill on time will help to improve your credit score.
So, if you request an increase in credit on your Lowes credit card, you may find your credit score dips slightly as the issuer may perform a hard pull to increase your credit limit.
However, most of the time, an increase in credit on your Lowes credit card will not affect your credit score, provided you are using it wisely.
In Addition Project Funding Might Be A Dangerous Choice
If you skip a set monthly payment, your interest rate might rise back to the regular APR, which may not be the greatest financial decision. The low fixed interest rates may still be better than personal loans or home improvement loans, but they might still increase the cost of your project compared to paying cash.
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What Bank Is Lowes Credit Card
The issuer of Lowes credit card is Synchrony Bank.
With this in mind, which bank is losing credit? Lowes Store Cards In addition, Lowes offers two business credit cards that offer a 5% discount through Synchrony.
In addition to this, is it difficult to get a Loews credit card? Loews Advantage credit cards are reported to be one of the hardest-to-find store cards and generally prefer applicants with fair credit or better . You can apply for the Loews Card online, but we recommend that you apply at the store to take advantage of the one-time application offer.
Is Rowes credit card approved immediately? Applying for a Loose Advantage Card You can apply for a Loose Advantage Credit Card at the store or online. During a credit review, some applicants will be approved immediately .
Besides, is Loews part of the Synchrony Bank? Loews uses Synchrony, so you can do that.
After that, is Rowes credit card approved immediately? Applying for a Loose Advantage Card You can apply for a Loose Advantage Credit Card at the store or online. During a credit review, some applicants will be approved immediately .
Extended Return Policy And Up To 24 Months In Special Financing
The Home Depot Consumer Credit Card helps your budget go further on your next home improvement upgrade or repair. This store credit card is offered through Citi, with card approval and special financing offers subject to creditworthiness. To be approved for the Home Depot Consumer Credit Card, you should have fair or better credit. Paying your bills in full each month means you won’t pay interest. If you qualify for a special financing promotion, you can enjoy an extended 0% interest period to pay off larger purchases.
Annual fee: $0
Welcome bonus: Up to $100 in savings on qualifying purchases for new card accounts. The offer is valid through January 26, 2022.
Perks: 1 full year return policy .
Standard APR: 17.99% – 26.99%
Everyday financing: 6 months no interest on purchases of $299 or more if paid in full within 6 months.
Special financing: Up to 24 months on special promotions with minimum purchase requirements.
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Alternatives To The Lowes Advantage Card
The Advantage store credit card isnt right for everyone. You may be better off with one of the best rewards credit cards that is general-purpose where you can use it in more stores rather than adding another card to your wallet that you have to keep track of.
The Citi Double Cash Card could be a great option. With this card, you can earn up to 2% cash back on all purchases: 1% as you buy and 1% as you pay. And since it’s a Mastercard, you can use it just about anywhere. This card also has a $0 annual fee.
If home improvements are part of your job, the Lowe’s Business Rewards Credit Card from American Express might be a better option. As an Amex card, it comes with special perks such as car rental insurance, extended warranties on purchases, and more. You can use this business credit card anywhere Amex is accepted, not just at Lowe’s stores.
Finally, looking at the best 0% APR credit cards may might be a great idea, as many credit card issuers provide this promotional rate for months after the time of purchase or balance transfer without the risk of deferred interest charges. It could be the easiest way to finance large home improvement projects. For example, the Chase Freedom Flex offers 0% APR financing on purchases for 15 months on new accounts ).
You should compare these other credit card offers to see if one may be a better fit than the Lowes home improvement card if youre hoping to pay for purchases over time.
Lowe’s Advantage Card: Basics
Card type: Store.
Annual fee: $0.
New cardholder offer: When you’re approved, you’ll receive a coupon good for 20% off your first purchase . As of this writing, Lowe’s said this offer was good through Jan. 31, 2022.
Discount: 5% off eligible purchases. This applies to most items in the store, but not all. More on that later, but among the exceptions: You won’t get this discount on purchases if you use special financing or installment financing offers on the card.
Interest rate: The ongoing APR is 26.99% Variable.
Purchases of $299 and up are eligible for special financing.
Purchases of $2,000 or more are eligible for 84 months of installment financing at a lower APR of 7.99%. With this option, you pay for the purchase in fixed monthly installments . These payments will be included in your minimum amount due every month.
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Is Capital One A Synchrony Bank
When people talk about credit card issuers you usually hear names like American Express, Chase, Capital One, and Citi but Synchrony is actually quite big. … Synchrony is partnered with some of the leading companies in the U.S., including Amazon, Chevron, and Lowe’s, along with dozens of smaller retailers.
Benefits Of The Lowe’s Advantage Card
Big discount at Lowe’s
This card gets you a 5% discount at Lowe’s on all eligible purchases. That makes it one of the most rewarding credit cards for home improvement purchases available. And because the discount is taken instantly at purchase, you get rewarded right away there’s no waiting to collect points.
To be sure, there are some limits on which purchases qualify for these discounts. If you opt for special financing or installment financing, for instance, you won’t get the discount. Also, you can’t stack this on top of other discount programs , and you don’t get 5% off if you’re using a coupon for a product. It also won’t apply to:
Shipping, delivery and assembly fees, or taxes.
Certain high-end brands.
Even with those limitations, though, the card can still deliver outstanding savings on home improvement spending at Lowe’s. You’d be hard-pressed to find similar value on other cards.
Instant Sign-up bonus
Unlike with most credit cards, the Lowe’s Advantage Card comes with a sign-up bonus you can get right away: When you’re approved, you’ll receive a coupon good for 20% off your first purchase . The offer is available through Jan. 31, 2022.
No annual fee
The Lowe’s Advantage Card has an annual fee of $0. That makes it easy to pull ahead in savings, even if you don’t use it for a time say, when you’re between remodeling projects.
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Who Should Apply For The Lowes Advantage Credit Card
Who is the Lowes Advantage Card best suited for, therefore, given its four positives and three negatives?
DIYers who want to use the 5 percent discount on a frequent basis or who plan to pay off a project over time and are certain they will be able to do it on time may consider the card. In order to get the most out of the card, you must be certain that you will be able to make all of your monthly payments on time.
To earn a 5 percent discount on all purchases, you may want to switch to the Lowes credit card instead of the Home Depot card if you have a lot of home improvement projects planned and both shops are available in your neighborhood.
There is no annual fee on the Lowes store card, and users receive a 5% discount on all Lowes purchases. This might be a better alternative if you spend a lot on home renovation and would likely reach the rewards limitations on conventional cash back credit cards.
A 15% Discount Is Available At Checkout
Most purchases made with your Lowes credit card will result in a 5 percent discount. This is a nice perk that comes with the card itself. Lowes credit card gives this discount straight immediately, unlike many other retail credit cards that only send you monthly savings or reward incentives after youve bought anything. As a consequence, you wont have to wait for a discount to show up on your credit card again.
For the 5% discount, only qualifying purchases are eligible, which excludes gift certificates. You cannot use this coupon with any other Lowes discounts, including military and employee discounts and the Lowes low price guarantee. Contractor Packs are not eligible for any discounts on fees, taxes, replacement plans, assembly expenses, shipping, or delivery. Excluded from the discount are AGA, Bosch Benchmark Fisher & Paykel Heartland Kichler Liebherr appliances NXR MARVEL Monogram SMEG and Weber.
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