This article will help you to make up your mind about Lowe’s Credit Card. We will put out our views on how this credit card works and the pros and cons of this credit card. Once we have put out all the necessary information then it is on you to make up your mind about Lowe’s Credit Card.
There are different perspectives and needs of an individual. Some may find it useful and some may not. Let us now move onto the different benefits this credit card can offer to the customers.
Benefits of the Lowe’s Credit Card
Now if you are a regular customer or planning to do some big shopping for your house from Lowe’s then this information must interest you. Credit cards are a very easy way to pay for unexpected or unplanned expenses. Whenever you need to pay a lump sum amount at Lowe’s, then these benefits will help you save some money in the long term.
1. Rewards Rate
The reward rate of Lowe’s advantage card is very impressive. Every customer can get 5% off on all of their purchases through the credit card. This reward rate will be very tough to find in any other store. Just to be clear this is not a cash-back. Instead of getting the money back later, you will get the money deducted from your purchase at that moment itself.
2. The 6 Months Deferred-Interest
This could be one of the biggest advantages of having or getting a Lowe’s credit card. If you are one of those customers who purchase in bulk at Lowe’s then this would be a great option for you to choose. If your purchase amount is $299 or above then you are eligible to choose this option.
You can either get 5% off on your purchases or you can get the 6 months interest option. This means you can pay your bill in a period of 6 months. So you can pay a little amount every month with interest to pay off your bill amount. This could be a very good option when you don’t have the money at the moment and have to make an emergency purchase.
The most important thing in this option is to remember that this is not 0% financing. You will have to pay the bill with interest over the next 6 months. There is also another option that is not always available but it is based on the offers at Lowe’s. This 6 months period can also be extended to 12, 18, and 24 months.
3. Loans With Lower APR
Lowe’s credit card can also be used to get loans. In technical words it is called “Project Financing” These loans come with lower APR meaning the interest rate. These loans can be paid back within 36 months at 3.99%, 60 months at 5.99%, and 84 months at 7.99%. To get the loan the minimum amount would be $2000. You will have to request this service. It is not an automatic service and you can also combine it with your 5% off offer.
4. No Annual Fee
The Lowe’s Credit Card comes with no annual fee. This means you don’t have to pay for the credit card every year. Generally when you request any kind of card. You have to pay a small amount every year. In this case, there are no annual charges on this credit card. You can request it and after that, you don’t have t pay for the card. You can start using the benefits of this card.
Is Lowe’s Advantage Card Worth It?
After reading all the above benefits, we would like to recommend this card. This card can be very helpful for all the customers who buy at Lowe’s in bulk. Having these benefits at no additional cost for the card is very unique.
Although we would also mention that Lowe’s credit card is not the best option to go for. If you want to use a credit card that works at all merchants then we would not say that this is the best credit card. That being said if you are loyal to Lowe’s then it can be a good choice as it provides benefits to shopping at Lowe’s itself.
This completes our article and what we think about Lowe’s Credit Card. In case you found anything confusing let us know in the comment section below. You can also refer to other articles about lowes here. Lowe’s Return Policy & Lowe’s Price Match.