What Is Lowes Credit Card Interest Rate?

Lowe's Advantage Card

Lowe's has a co- branded credit card product called the Lowe's Advantage Card that its customers can get. The Lowe's Advantage Card has some pretty valuable perks. The card has no annual fee if customers charge Lowe's purchases to it, and they can choose between a strong everyday discount or special financing terms.

The card isn't the best choice for everyone, so there are some drawbacks to consider. Here is a list of the benefits and drawbacks of the Lowe's Advantage Card, as well as some alternatives you may want to consider. The Lowe's Advantage Card has a great rewards rate.

Customers can get 5% off purchases on their cards. The best cash-back credit cards have 2% everyday rewards rates, and the cards that do offer 5% rewards only do so in rotating categories. 5% rewards rate on purchases is competitive.

Lowe's Advantage Card: A Great Way to Get the Most Value for Your Dollar

You can find concrete, compost, dustpans, and drop cloths at Lowe's. You can save 5% on the Lowe's Advantage Credit Card. The Lowe's Advantage card is perfect for customers who have their own red vest, and it also gives them the chance to choose special financing offers on large purchases, making the cost of that new sander a little less abrasive.

If you would rather receive the 5% discount, you will see the savings right away, unlike typical cash back rewards, where your discount will be applied to your purchase right at the register. The credit card discount doesn't stack, so you can't use it in combination with other discounts, including Lowe's coupons. If you use your hammer to open bottles more than you do to hammer nails, your Lowe's card will be a better coaster than a credit card.

You'll probably get more value from an all-purpose rewards card that lets you earn cash back, points, or miles on every purchase, rather than limiting yourself to Lowe's. The company has over 1800 locations, but it doesn't sell everything. The inability to stack discounts with special financing really sands reviewers against the grain, as many reviewers really like the automatic 5% discount on the Lowe's Advantage Card.

Some people are unhappy with the issuing bank's tendency to drop credit limits without warning. The Lowe's Advantage Credit Card is for people who like the smell of sawdust. The 5% discount is a nice bonus, if you don't like to find, clip, or download coupons, and the financing offers can be good for those working on big home repair projects or updating major appliances.

Lowe's branded credit card with no interest financing

Lowe's has a branded credit card. The Lowe's card is similar to other store cards in that it only works at Lowe's stores, and you can only get discounts at the popular store. You can choose between a 5% discount and six months of no interest financing on purchases of $299 or more.

Lowe's has special promotions where you can get a low interest rate. You can get a year at a low rate on appliances, heating, and air conditioners by July 2019. Deferred interest offers are dangerous because you end up owing back interest if you don't pay off your card by the time the offer ends.

Home Improvement Store Cards

Home improvement retailers offer store cards that you can use to your advantage. The cards have the same perks, so it's hard to choose if you prefer one store over the other. The Home Depot and Lowe's cards have the same basic special financing offers, which are free if you pay in full within six months.

The six-month special financing offer is a tie. The Lowe's Advantage Card can provide a decent 84-month fixed payment plan that is similar to a personal loan, if you have a larger project to finance. The best home improvement store card for your needs depends on what benefits you're looking for.

The Home Depot Consumer Credit Card has a rotating discount of over 10%, but the Lowe's Advantage Card has the best everyday discount of 5%. You should review current offers before selecting a card. You should consider the location of the nearest Home Depot or Lowe's store.

Low-Interest Rate Credit Cards

If you have to carry a balance, low-interest rate credit cards can help you pay less. In some cases, they offer an introductory zero percent APR period that can provide a temporary break from credit card interest on purchases, balance transfers or both. People with higher credit scores can get lower interest rates on credit cards.

If your credit is not perfect, you may not be able to get the best rates. If you want to find out what your current score is, you need to check your credit report. If you have a long-term strategy for improving your credit score, you will be able to work on it.