If you love remodeling your home, maybe a bathroom or kitchen, maybe you’re a contractor, or you just need a certain type of paint or even a light bulb. Whatever your home improvement needs are, then the Lowe’s credit card is for you.
You may wonder, how to apply, it’s simple and easier to apply on the Lowe’s website because you will get an immediate response if you’re approved or not. Applying in the store, you have to fill out a long questionnaire and the sales associate may have to call to verify the approval. Please keep in mind that a credit check is required and approval depends on the credit score. By applying in the store, you can receive limited rewards. Once you’re approved, the credit limit will be based on your credit history.
Please keep in mind that the Lowe’s card isn’t compatible with other business and ATM’s. If customers like shopping elsewhere for their remodeling needs, the Lowe’s may not be the best option for them. It’s a good idea to check out different cards to see which one offers you the best options.
A Lowe’s credit card can help you build the home of your dreams. Well, maybe not a home, but fixing up an older home will be beneficial to you. The card can assist with most business needs. When summer comes, you may think of getting a new lawn mower, Lowe’s has you covered. This is a decent card to have if you love doing home improvement. Contractors will also enjoy this card because it offers great benefits for your business needs. You may choose to use a credit card from your bank, that’s fine; however, you won’t receive the benefits immediately as you would with a Lowe’s credit card. Most bank credit cards have you waiting months for rewards.
Lowe’s Card Benefits and Rates
Benefits to using Lowe’s card is you will automatically receive a 5% discount on any purchase made in-store or online. Interest can be deferred if a purchase is $299 or more. An option of 0% APR depending on the entire purchase price up to 6 months. For items totaling $2,000 or more, Lowe’s offers reduced interest rates; 3 years at 3.99% APR, 5 years at 5.99% APR, and 7 years at 7.99% APR. These low APR’s are not offered automatically, you will need to ask about them when you make a purchase. It is important to make payments on time or you will be charged 26.99% APR for missed payments.
If you’re planning on spending a large amount to improve your home, then it’s best to pay off the card in full so you’ll have the advantage to avoid late fees and higher interest rates. If you’ve been denied a credit card from Lowe’s in the past, it’s always helpful to check your credit score periodically to ensure there’s nothing on there that may not be correct. Waiting a few months to apply again will increase your chances of being approved. You’ll also gain a low apr once your credit score has improved. If your rewards are never used, it’s alright. You’ll still get a 5% discount whenever you use the card and pay off the balance every month. It’s almost as though you’re getting paid to shop.
Lowe’s Advantage Card
Lowe’s offers an Advantage card where you can receive 5% discount off every purchase, but there are exceptions. It can’t be combined with any coupons or other discounts. Not available on certain items. See your local store for the detailed listing. There’s all the information you need. Now’s the time to get out there and apply for a credit card at Lowe’s.