If you do much shopping at Lowe's, then the Lowe's Advantage Card could be a serious money saver. Each time you shop with this store credit card, you can get a discount or take advantage of special financing plans on eligible purchases. Read our full Lowe's Advantage Card review for all the details on its good and bad points.
Ratings Methodology
Lowe's Advantage Card
Rating image, 4.00 out of 5 stars.
4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 4.00 out of 5 stars.
4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Credit Score:Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Poor
Fair
Good
Excellent
300-579
580-669
670-739
740-850
Credit ScoreFalling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Good/Excellent (670-850)
Intro APR6 months special financing on purchases of $299 or more
Purchases: 6 months special financing
Balance Transfers: N/A
Regular APR
28.99%
Rewards5% off Lowe's purchases or 6 months special financing, or 84 fixed monthly payments with reduced APR financing
5% off Lowe's purchases
Annual Fee
$0
Welcome OfferGet 20% off your purchase today when you open and use a new account now through 1/31/24. Up to a $100 discount. Terms apply.
20% off first purchase
You can get quite a bit of value at Lowe's with this card, but that's also the only place you'll be able to use it.
- Introductory discount offer
- Discounts on eligible purchases
- Financing plans
- No annual fee
- Only accepted at Lowe's
- Deferred-interest financing
- Receive a 20% off coupon for your first purchase
- 5% off all eligible in-store and online purchases
- Special financing for purchases more than $299
- Fixed monthly payments and APR for purchases of at least $2,000
- No annual fee
See AlsoLowe’s Pay – Buy Now Pay Later
Full Lowe's Advantage Card review
This credit card is a good fit for: Home improvement enthusiasts who shop at Lowe's frequently and want to get discounts or special financing plans.
Top perks
You get a few standout benefits with a Lowe's credit card.
20% off first purchase
When you open and use a new Lowe's Advantage Card, you get 20% off first purchase, up to a maximum discount of $100. For accounts opened in store, you must ask the cashier to apply the discount at the time of your purchase. For accounts opened online, you'll receive a one-time coupon/promotional code.
It's not a huge welcome offer, and it can't be combined with this card's 5% off discount, either. But it's a solid deal from a store credit card, especially if you use it on a $500 purchase to maximize your savings. This introductory offer currently runs through Jan. 31, 2024, but Lowe's seems to renew it regularly.
5% off purchases
The Lowe's Advantage Card gets you 5% off all eligible in-store and online purchases. Note that if a purchase also qualifies for one of the special financing offers available through a Lowe's credit card, you must choose either the 5% discount or the financing plan. These offers can't be combined. A 5% discount on every eligible Lowe's purchase is a great deal if you shop there often.
Financing plans
The Lowe's Advantage Card has two available financing plans:
- Special financing: No interest on purchases of at least $299 when paid in full within six months
- Reduced APR financing: 84 fixed monthly payments on purchases of at least $2,000 at a reduced APR of 9.99%
In addition, Lowe's periodically has limited-time special financing offers. For example, you could see an offer for no interest on a specific type of product, such as appliances, if the purchase is at least $299 and you pay in full within 12 months.
While these special financing offers can be useful, paying off the balance on time is a must. These are deferred-interest offers, which means if you don't pay off the balance within the allotted time, you're charged interest going back to the purchase date.
LEARN MORE: What Is Deferred Interest?
No annual fee
Store cards are usually no annual fee cards, and that's the case with the Lowe's Advantage Card. It's an important perk, because it means you can save money using your Lowe's credit card and it won't cost you anything.
Credit card comparison
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
| Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
|---|---|---|---|---|---|
Discover it® Cash Back | Rating image, 5.00 out of 5 stars. 5.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Discover will match all the cash back you’ve earned at the end of your first year.N/A | 1% - 5% CashbackEarn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. | Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular:17.24% - 28.24% Variable APR | |
Chase Freedom Unlimited® Apply Now for Chase Freedom Unlimited® OnChase'sSecure Website. | Rating image, 5.00 out of 5 stars. 5.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Up to $300 cash backEarn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash backEnjoy 5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases | Intro:0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular:20.49% - 29.24% Variable | Apply Now for Chase Freedom Unlimited® OnChase'sSecure Website. |
Chase Sapphire Preferred® Card Apply Now for Chase Sapphire Preferred® Card OnChase'sSecure Website. | Rating image, 4.50 out of 5 stars. 4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | 60,000 bonus pointsEarn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠. | 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchasesEnjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. | Intro:N/A Purchases: N/A Balance Transfers: N/A Regular:21.49%-28.49% Variable | Apply Now for Chase Sapphire Preferred® Card OnChase'sSecure Website. |
What could be improved
Before you apply for a Lowe's credit card, you should know about its drawbacks.
Deferred-interest financing
As mentioned earlier, Lowe's special financing plans have deferred interest. If you haven't heard of this, it means interest charges are only deferred until the end of the introductory period. You must pay off the balance in full by then, or you'll be charged all the interest going back to the purchase date.
A deferred-interest offer can still be a good deal, assuming you pay in full by the end of the introductory period. Just keep in mind that minimum payments may not be enough. If you want a more flexible financing option, check out 0% intro APR credit cards. These offer waived interest, so even if you don't pay off purchases within the intro period, you only get charged interest on your remaining balance.
READ MORE: Best 0% APR Credit Cards
Lackluster introductory discount
A 20% discount is reasonable for a store credit card, but it could be better. In particular, it'd be nice to see Lowe's get rid of or at least raise the $100 limit on the discount. That bonus cap means the value of this introductory offer pales in comparison to many of the best sign-up bonuses.
Only works at Lowe's
The Lowe's Advantage Card is a closed-loop store card. You can only use it to pay for your purchases at Lowe's, not anywhere else. Because of that, you'll need at least one other credit card to cover your non-Lowe's expenses. Check out more of our credit card reviews to find a card to use instead of or in addition to a Lowe's card.
No extra benefits
When it comes to features, the Lowe's Advantage Card is bare bones compared to most other credit cards. The purchase discounts and financing plans are its only perks. You won't get any extra benefits that are popular with store credit cards, such as free shipping, an extended return window, purchase protection, or exclusive sales.
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Suggested credit score
The Lowe's Advantage Card is aimed at consumers with fair credit or better, and a FICO® Score of at least 620 is recommended. Keep in mind that Lowe's will base its decision on more than just your credit score. Card issuers weigh a variety of factors to determine whether to approve or deny credit card applications. But one of the nice things about store credit cards is that they often have more lenient approval requirements than other cards.
SEE MORE: Best Store Credit Cards
The Lowe's Advantage Card is right for you if:
You spend at least $500 per year at Lowe's and you either want to get discounts or finance your more expensive purchases.
Since the benefits of the Lowe's Advantage Card are so simple, it's also easy to figure out if this is a good credit card for you. A 5% discount at Lowe's is more than you'll get from almost any other rewards credit cards. The card's financing plans are also competitive. If you're a DIYer or just like to make major home purchases at Lowe's, a Lowe's credit card is sure to save you some cash.
Our credit card methodology
At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.
FAQs
Reported credit limits for the Lowe's Advantage Card range from under $500 to over $25,000. Your credit limit is based on several factors, including your income and overall creditworthiness.
You can use the Lowe's Advantage Card at Lowe's stores and online at Lowes.com.
Yes, the Lowe's Advantage Card can build credit. The card issuer, Synchrony Bank, reports activity to the consumer credit bureaus. If you follow good credit-building habits, such as paying your bill on time, that activity will be reported and can boost your credit score.
Our Credit Cards Experts
By:Lyle Daly
Writer
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
Fact CheckedNathan Alderman
Fact checker
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
