Lowe’s Credit Card: Percentage Earnings, Features and Benefits

Not all brands offer valuable percentages for shopping at their stores, but with Lowe’s credit card, you can earn good percentages that help you get discounts on items you shop with them. The range is impressive, and you can find out more about it here!

The proprietary credit card of Synchrony Bank is the Lowe’s Credit Card, which is suitable for homeowners, professional DIY buyers, and contractors who shop at Lowe’s often.

The different features and benefits of this store specific credit card are as follows, especially for those who wish to save on home improvements and purchases.

Lowe’s Credit Card Percentage Earnings

The Lowe’s Advantage Credit Card provides two main benefits: Hudson’s five percent discount for qualified merchandise and an installed plan for house financing.

On occasions where the total billed amount is $299 or more, consumers accept either of two options: 5% off or no interest if the bill is paid off at the end of a period that can take up to 6 months.

It has an installment rate, which enables customers to make fixed installments in terms of a month for large purchases.

Features and Pros of the Credit Card

Some of the tools that improve Lowe’s brand credit card percentage rates are the features and benefits that come with the updated tools, which include:

1. Rewards Program

The cardholders are allowed to save 5% on their purchases at Lowe’s for qualified items.

2. Special Financing

There are also promotions for special financing on every purchase of $299 or more and the credit plan offered allows for payment in 6, 12, 18, 24, and up to 84 months

3. Project Financing

In larger projects, the card brings fixed monthly installments that come at a lower APR for certain durations, like 36, 60, or 84 months.

4. No Annual Fee

Lowe’s Credit Card does not attract an annual fee, which makes the card favorable for frequent users.

5. Exclusive Cardholder Events

The events and promotions especially provide additional value as they mean the cardholders can benefit from an opportunity to save more.

6. Convenient Account Management

It offers account access, transaction history, and payment facilities on a single card.

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Cons of the Lowe’s Credit Card

While you consider the features and benefits of the credit card, consider the following downsides:

1. High APR

The Lowe’s Credit Card comes with a reasonable APR; therefore, if one fails to pay the balance in full and/or does not avail of the financing options it offers, then it incurs steep interest charges.

2. Limited to Lowe’s

Being a Lowe’s affiliated credit card, its advantages apply to the Lowe’s store alone, thus not being very handy when running other shopping errands

3. Deferred Interest

These special financing offers are generally between thirty and sixty months of interest-free financing, on the condition that if the balance is not paid by the expiry of the special financing period, interest will be charged from the time of purchase.

4. Potential for Overspending

The good terms that come with these cards may lead to the cardholders using them more than they planned to, this may prove prohibitive later.

5. Exclusions on Discounts

Here, a discount is not offered for some items and services, and this is a serious letdown for holders of the card as they expect to be getting this discount for all products.

Similar Cards Like the Lowe’s Credit Card

For the sake of the cons of the Lowe’s credit card, some cardholders might seek choices quite close:

1. Home Depot Consumer Credit Card

The Home depot card features zero percent interest-free financing on large purchases and usually has special deals from time to time, but it does not have the permanent savings that the Lowe’s Credit Card has.

2. Chase Freedom Unlimited

Chase Freedom card gives you 1.5% cash back on all the purchases, meaning that it would be appropriate for people who do not want to bother themselves with some particular category of consumption but want to be rewarded for every cent they spend.

3. Citi Double Cash Card

Most Cardholders get 2% cash back on all purchases, 1% when the purchase is made, and another 1% when the payment is due, which makes the rewards program easy to understand and usable on all purchases.

4. Wells Fargo Propel American Express Card

This card offers 3x points on popular categories like dining, travel, and streaming services and 1x points on other purchases, providing a diverse range of rewards.

5. Discover it Cash Back

Discover It card offers 5% cash back on rotating quarterly categories (up to the quarterly maximum, then 1%) and 1% on all other purchases, giving users a chance to earn higher rewards in specific categories.

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Who Needs the Lowe’s Credit Card?

The Lowe’s Credit Card best suits the following set of people:

1. Frequent Lowe’s Shoppers

If you often have to shop at Lowe’s for home improvement items, the extra 5% discount as well as the financing options will be very useful.

2. Homeowners and DIY Enthusiasts

Anyone who is planning a home improvement project or simply doing repair work at their house will find the card’s installment promotions for home improvement and project financing for the larger purchases more relevant.

3. Contractors and Professionals

People who often order products to be used in their workplace and source them from Lowe’s can benefit from the immediate price cuts and purchase with installment facilities.

4. Budget-Conscious Shoppers

With no annual fee and chances of freebies and coupons, consumers shall benefit most in terms of their pocket.

5. People Planning Large Purchases

Special financing and project financing turn out to be very ideal when it comes to costs, (specifically, when large purchases are being made).

This is because the cost would be spread over time and one would not be charged very high interest rates.

Wrapping Up

It is to be noted that Lowe’s credit card is designed particularly for a clientele base with high purchasing frequency, and the benefits offered to the users do match the purpose adequately.

The 5% discount option, acceptance of generalized financing, and no annual fee make the card ideal for use when planning for home improvement.

Given its APR and acceptance, it’s not suitable for borrowers who carry a balance or for those who need a more diverse credit card.

The general-purpose credit cards that offer more wide-ranging rewards and lower interest rates might be more suitable for those who do not want to be bound by the exclusivity of the website’s incentives and the relatively high APRs.

Lastly, the Lowe’s Credit Card is ideal for Lowe’s frequent customers wishing to save more while getting more benefits from the store consistently without harming their credit rating.

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