what does your credit score need to be to get a lowes card
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Lowe'south Reward Menu: Great for Home Comeback, But Watch Out for Deferred Interest
| 4 Min Read 
Holly Johnson
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Lowe's Advantage Bill of fare
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Editor's Score: (3.45/5)
Editor's Score: (iii.45/5)
Larn more At our partner's secure site.
Lowe'south Advantage Card
Editor's Score: (3.45/five)
Editor's Score: (iii.45/5)
-
Intro offer:
N/A -
Annual fee:
No Annual Fee -
Regular Apr:
See Terms -
Recommended credit score:
(No Credit History)
NextAdvisor's Take
Pros
- Save 5% off eligible Lowe's spending
- Special financing offers for select purchases
- No annual fee
- Prequalification
Cons
- High Apr
- 5% off or special financing, only not both
- Store carte du jour has express utility
The Bottom Line
The Lowe'southward Advantage Card is a store menu that grants you access to 5% savings or special financing on eligible purchases with the dwelling house comeback retailer, for no annual fee. If you shop at Lowe's oft, or you're planning to spend a lot on dwelling improvement in the nigh future, this menu is worth considering.
Additional Bill of fare Details
- Earn five% off every day or sign upwards for six months special financing offers (on eligible purchases) when you shop with Lowe'south
- Go 20% off your first buy (up to $100 discount) through January. 31, 2022
- Retail credit carte that may only be used at Lowe'south, in stores or online
- 26.99% variable APR
Lowe's Advantage Card Full Review
Card Type
The Lowe'south Advantage Card is a store credit card issued past Synchrony Bank. You lot tin but use the bill of fare at Lowe's stores or online.
Annual Fee
The Lowe'southward Advantage Carte has no annual fee.
Welcome Offer
You can get twenty% off your first Lowe's purchase (upwards to $100 discount), through Jan. 31, 2022.
Rewards
The Lowe's Advantage Menu gets v% off every day or sign up for 6 months special financing offers (on eligible purchases) when you shop with Lowe'south.
The 5% discount can exist used on spending in-store or online. This more often than not applies to anything you purchase, but there are exceptions within the terms, including services similar assembly or installation fees, souvenir cards, and Weber or Kichler brand products.
For eligible purchases over a certain amount, you lot can forgo the 5% discount in favor of special financing offers. These offers change over time, range in length, and may differ for specific purchases like appliances or HVAC equipment. Currently, you can earn half dozen months of no interest special financing on purchases of $299 or more, or qualify for 7.99% April fixed monthly payments for 84 months on purchases of at least $two,000.
Fees
This carte du jour has a 26.99% variable APR. If you lot make a late payment, yous may incur a fee upward to $38.
If y'all exercise sign up for one of this card's special financing offers, information technology'due south especially important to pay down your remainder within the promotional flow. These offers are deferred interest offers, pregnant if yous take whatsoever residual remaining when the period ends, you'll take on interest going all the fashion back to the purchase appointment.
How to Employ Lowe's Reward Menu
If you apply for the Lowe's Advantage Card, start off with peachy savings past doing and then when you have a large purchase to make. When yous sign upwardly and get approved, yous'll get twenty% off your first buy fabricated with the carte, up to $100 off. That cap ways the benefit maxes out afterwards $500, but tin can bring your initial $500 buy with the menu downwards to $400.
From in that location, use the menu anytime y'all make a purchase with Lowe'south, only have a plan for your 5% disbelieve or special financing options with each purchase. Y'all can't use these two offers at in one case, so y'all'll have to choose.
If y'all opt for a special financing offer, make sure you can pay off your buy before the offer ends. Otherwise, yous'll be stuck paying deferred interest at the regular variable April of 26.99%. Similarly, if y'all choose fixed monthly payments with a reduced APR on whatsoever big purchases, make sure you can see at least the monthly payments and pay the balance in full early or on time.
Even if you choose to get v% off your purchases instead of special financing, yous should pay off your credit card balance right away. The high variable Apr this carte du jour charges volition wipe out any savings you go from the discount in a hurry.
Lowe's Advantage Carte du jour Compared to Other Cards
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Lowe's Advantage Bill of fare
Editor's Score: (3.45/5)
Editor's Score: (three.45/5)
- Intro offering:
Northward/A
- Almanac fee:
No Annual Fee
- Regular Apr:
See Terms
- Recommended credit:
(No Credit History)
- Learn more than At our partner'southward secure site
Learn More
The Dwelling house Depot Consumer Credit Bill of fare
Editor's Score: (2.1/5)
Editor's Score: (2.1/five)
- Intro offering:
North/A
- Annual fee:
$0
- Regular Apr:
Meet Details, Rates & Fees
- Recommended credit:
580-740 (Off-white to Good)
- Learn more At our partner's secure site
Learn More than
Citi® Double Cash Carte
Editor'south Score: (4.4/5)
Editor's Score: (4.4/5)
- Intro offering:
N/A
- Almanac fee:
$0
- Regular APR:
14.24% – 24.24% (Variable)
- Recommended credit:
670-850 (Skilful to Fantabulous)
- Learn more than At our partner's secure site
*All data virtually the Lowe'south Advantage Card and The Home Depot Consumer Credit Card has been collected independently past NextAdvisor and has not been reviewed by the issuer.
Is the Lowe'southward Reward Card Right for You?
If y'all accept a big home improvement project coming upward or generally spend a lot on dwelling furnishings, tools, or landscaping materials at Lowe'southward, this carte offers great payment flexibility and savings.
For your everyday abode purchases — whether you're replacing lightbulbs and batteries or attempting a DIY projection — v% savings is better than you'll find on most cards with abode improvement rewards categories.
The card's special financing offers can be benign as well, particularly if you're buying new appliances or other pricey gadgets and want the hazard to pay them off without interest for a limited fourth dimension. But at that place are limitations to keep in mind. Most importantly, the "no interest" offer isn't the same equally many 0% intro offers on full general credit cards. It's a deferred interest offer, and then if you don't pay the total amount by the end of the intro menstruum, yous'll incur interest payments going all the way dorsum to your purchase appointment.
The Lowe's Advantage Card is too a closed-loop retail card. This means it may be easier to qualify for than a regular credit carte, merely you lot'll exist limited to spending in-store or online with Lowe's. If you're looking for rewards on your everyday purchases outside of the retailer, await for a standard card on a widely-accepted network, like Visa, Mastercard, or American Limited.
Cards like the Capital One Quicksilver Cash Rewards Credit Card may be a more flexible option for saving on interest (it offers a 0% intro April on new purchases and balance transfers for xv months; 15.24%-25.24% variable Apr subsequently that), while earning 1.v% cash back rewards on every buy. And if y'all aren't strictly loyal to Lowe's for domicile improvement spending, you may too want to consider the Dwelling house Depot Consumer Credit Card*. While information technology doesn't offer the same ongoing discounts, you lot can qualify for similar special financing options.
Pro Tip
You tin can earn rewards and enjoy 0% APR at the aforementioned time with many general greenbacks dorsum credit cards . Make sure to compare not-retail cards to the Lowe'south Reward Card before you lot use.
Frequently Asked Questions
What credit score is needed for the Lowe's Advantage Card?
The Lowe's Advantage Menu is a retail carte, so information technology may exist easier to qualify for than a traditional credit menu. Yet, you'll have the all-time chances of qualifying with a practiced-to-first-class credit score of at least 670.
Can you use the Lowe'due south Reward Carte anywhere?
The Lowe's Advantage Card is a closed-loop retail card, and then you tin can only use information technology at Lowe'south home improvement stores.
Do you get a discount with the Lowe's Advantage Card?
For each eligible purchase yous make at Lowe's, you can cull to get a 5% discount or special financing.
Does the Lowe'due south Advantage Carte du jour accuse an annual fee?
The Lowe's Advantage Card does non charge an annual fee.
Source: https://time.com/nextadvisor/credit-cards/reviews/lowes-advantage-card-review/
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