Lowes Credit Card – How it Works, Benefits, and Rewards

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Synchrony Bank’s Lowe’s Advantage Card can be a significant money saver. Customers who are planning expensive home improvement projects and live near a Lowe’s could save a lot of money with the 5% discount. The card does not come with a standard welcome bonus, but it does come with a 20% off coupon (up to $100) for your first purchase if you sign up and use it in-store right away.

The Lowe’s Advantage Card is an excellent choice for customers who frequently shop at Lowe’s and want to save money on their purchases.

Unlike store cards that offer rewards points that are only redeemable if you return to the store and spend additional money, this Synchrony Bank-issued card offers a flat 5% discount on practically everything and has a zero-dollar annual fee.

It’s a compelling decision not just for committed Lowe’s customers, but also for people who spend a lot of money on home improvement elsewhere and might easily convert that expenditure to Lowe’s.

How does the Lowes Credit Card work?

Cardholders will receive daily benefits, according to the firm. On purchases of $2,000 or more, they can pick from a 5% discount, six-month financing options on purchases above $299, or set payments for 84 months with a lower annual percentage rate (APR).

Lowe’s cardholders can also take advantage of Lowe’s limited-time discounts and financial deals.

The card functions similarly to a variety of different credit cards. The Advantage Card has a revolving credit line, which means you can use it up to your approved credit limit as long as you make monthly payments.

By paying off the entire debt each month, cardholders can avoid incurring interest. As of February 2021, the percentage was 26.99 percent. Another benefit is that there is no annual cost.

Benefits and Rewards of getting Lowes Credit Card


When you use your credit card to make a purchase at Lowe’s, you will receive a 5% discount on all purchases. That may not seem like much, but it adds up to hundreds of dollars over time. Furthermore, because a dollar saved is a dollar earned, the Lowes Credit Card allows you to earn 5% of your purchases.

0% Annual Fee

You don’t have to worry about paying an annual fee just to own the card if you complete your monthly payments on time to clear your outstanding balance.

0% Interest in Prior Six Months

When you spend $299 or more, you have the option of taking advantage of the 0% interest for six months instead of the 5% discount. This arrangement enables you to spend money as though it were coming from your savings account. Instead of saving up to six months for that appliance you desperately need, use your Lowe’s card to purchase it. You will thereafter make minimum payments every month until the balance is paid off.

Avoid 26.99% APR

Special financing is available on purchases of $299 and higher. (This is a deferred interest offer, which means the interest on the purchase is still being computed.) If you don’t pay it off in full by the conclusion of the campaign, you may be subjected to exorbitant interest costs.)

Who Lowe’s Advantage Credit Card is Best for?

So, who is the Lowe’s Advantage Card ideal for, given its four benefits and three drawbacks

The card is a wonderful choice for DIYers who want to use the 5% discount on a frequent basis or who want to pay off a project over time and are confident in their ability to make timely payments.

However, the card is only worthwhile if you don’t have to pay the usual APR on any of your purchases, which means you must be confident in your ability to make your monthly payments in full.

Because the Home Depot credit card does not offer the same 5 percent discount on all purchases as the Lowe’s card, if you have a lot of home improvement projects planned and both stores are in your town, it may be worth switching to Lowe’s to receive this card.

Because cardholders get a 5% discount on Lowe’s purchases, the Lowe’s store card may be a better alternative for you if you spend a lot of money on home renovation and would likely exceed the rewards restrictions on ordinary cashback credit cards.

Do you want to get a Lowes Credit Card?

You can apply for a Lowe’s Advantage Credit Card at any Lowe’s location.  It simply takes minutes to make a credit decision. You can also submit your application through the internet.

If you meet the prequalification criteria, you can apply right away and receive a decision just as soon as you applied in person. Your credit score is not impacted by the prequalification.

After the card has been accepted and activated, the cardholder can use it to make any Lowe’s transaction up to a credit limit that is determined by the customer’s creditworthiness. Any other merchant or automated teller machine (ATM) does not accept the Lowe’s card.

So Is the Lowe’s Advantage Card right for me?

If you’re a frequent Lowe’s shopper, the Lowe’s Advantage Card should already be in your wallet. Consider acquiring this card and swearing your commitment to Lowe’s if you could just as easily go to Home Depot.

The Bottom Line

However, if you’re planning major home repairs or want to replace your kitchen appliances, the Lowe’s Advantage Card’s 5% discount can easily justify your purchase.

Similarly, if you need money for a significant project and have a good credit score, the Lowe’s Advantage Card is a convenient method to get it.

But, when compared to a home equity line of credit or a personal loan, it may be more expensive. In order to receive the cheapest loan feasible, alternative financing sources should be examined against credit card financing options.


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