Best Lowes Credit Card 2024


The Lowes Credit Card can be a valuable tool for those who frequently shop at Lowe’s home improvement stores. It offers a 5% discount on eligible Lowe’s purchases, making it a good choice for individuals planning major home improvement projects or regular shoppers at the store.

It’s important to note that this card is limited in its usability and can only be used at Lowe’s and online. Therefore, it may not be the best option for those seeking a versatile credit card for various purchases.

If you’re a frequent Lowe’s shopper, it can offer savings, but for broader spending needs, you may want to consider other credit card options.

What is Lowes?

Lowe’s is a well-known American home improvement retail chain. It operates a network of stores offering a wide range of products and services related to home improvement and construction.

Lowe’s stores typically sell items like building materials, tools, appliances, paint, plumbing supplies, hardware, and garden products, among others. The company also provides services such as installation and repair.

Lowe’s is a popular destination for homeowners, contractors, and DIY enthusiasts looking for products to improve and maintain their homes.

types of Lowe’s Credit Card

Lowe’s offers two main types of credit cards:

  1. Lowe’s Advantage Card: This card provides a 5% discount on eligible Lowe’s purchases, or you can choose special financing options. It’s suitable for frequent Lowe’s shoppers or those planning significant home improvement projects.
  2. Lowe’s Business Credit Cards: These cards cater to business customers. They include Lowe’s Business Rewards Card from American Express and Lowe’s Commercial Account Card.

Each card type has its own features and benefits, tailored to specific customer needs.

Lowe’s Advantage Card

Lowe’s Advantage Card

The Lowe’s Advantage Card is a store credit card offered by Lowe’s, a major home improvement retailer. It provides customers with several benefits when shopping at Lowe’s, including a 5% discount on eligible purchases, special financing options, and no annual fee.

While the card is an excellent choice for those planning home improvement projects or frequent Lowe’s shoppers, it is primarily limited to use at Lowe’s stores and on their website. This makes it less versatile for everyday spending compared to general credit cards from major issuers.

  • Lowe’s Advantage Card offers a flat 5% discount on most purchases.
  • It has no annual fee, making it a cost-effective option.
  • New cardholders can enjoy a 20% discount (up to $100) on their first purchase.
  • The card provides special financing options for larger purchases.
  • You can’t use the 5% discount with special financing or other discounts.
  • It doesn’t apply to gift cards, some brands, services, or certain fees.
  • The Lowe’s Advantage Card beats Home Depot’s credit card in terms of rewards and benefits.
  • Home Depot’s card lacks ongoing purchase benefits and rewards.
  • Lowe’s card is ideal for those who spend on home improvement projects.

Lowe’s Business Advantage

Lowe’s Business Advantage

Lowe’s Business Advantage is a comprehensive program designed to meet the specific needs of businesses and professionals in the construction and home improvement sectors. The program offers numerous advantages, including exclusive volume discounts on eligible purchases, enabling businesses to effectively manage their expenses.

Members benefit from dedicated account managers who provide personalized support for product selection and order management. Lowe’s simplifies invoicing for improved financial efficiency.

Participation in the Pro Xtra loyalty program allows businesses to accrue rewards such as discounts and promotions, enhancing the value of qualified purchases. The program also provides tracking capabilities for accounting and budgeting, and special financing options may be available.

Lowe’s Commercial Account

Lowe’s Commercial Account

The Lowe’s Commercial Account card is tailored for businesses in the construction and home improvement sectors. It offers exclusive volume discounts, dedicated account managers, simplified invoicing, and participation in the Pro Xtra loyalty program.

This card streamlines procurement, provides tracking for accounting, and may offer special financing. It’s an essential tool for businesses seeking savings, efficiency, and easy access to construction and home improvement supplies at Lowe’s.

Lowe’s Business Rewards

Lowe’s Business Rewards

The Lowe’s Business Rewards card from American Express is ideal for frequent home improvement shoppers and small businesses.

It offers a 5% discount at Lowe’s for the first 6 months, 2% cashback at U.S. restaurants, office supply stores, and more, with 1% cashback on other purchases. You receive $100 back as a welcome bonus.

While it lacks an annual fee, rewards are redeemable only as Lowe’s or American Express gift cards. The card also provides discounts on Lowe’s Pro Services and comes with purchase protection and extended warranty benefits.

PreLoad Plus Mastercard®

PreLoad Plus Mastercard®
PreLoad Plus Mastercard®

The PreLoad Plus Mastercard® is a prepaid debit card that offers a convenient and secure way to manage your finances. It works similarly to a regular debit or credit card, but you load it with funds in advance.

This card can be used for various purposes, such as making purchases online or in-store, withdrawing cash from ATMs, and even managing your budget. Since it’s a prepaid card, there is no credit check required, and it helps you avoid going into debt.

Additionally, the PreLoad Plus Mastercard® provides flexibility and control over your spending while being widely accepted wherever Mastercard is taken. Be aware of any associated fees and terms when obtaining and using this card.

Lowe’s Lease to Own

Lowe’s Lease to Own

Progressive Leasing’s lease-to-own program offers a convenient way to acquire desired items without a substantial upfront payment or long-term commitment. It’s accessible through various retailers, providing affordability and flexibility in ownership options.

Unlike traditional loans or credit financing, this program doesn’t involve borrowing money; instead, Progressive Leasing purchases the chosen merchandise, and you agree to lease it. No credit history is necessary, although credit reports are reviewed.

An initial payment is required at the lease signing, and the remaining payments depend on the item’s cash price and payment frequency. Ownership is possible after completing all payments or through an early purchase option, with no added interest charges.

Age, a valid Social Security number or ITIN, banking details, and a credit or debit card are needed for approval. Approval is valid for 90 days, and payments are automatically deducted from your bank account or card.

You can cancel the lease within five days of signing, and returned items can be reinstated under certain conditions. The total cost comprises the merchandise’s cash price, lease service fees, and applicable taxes. Contact customer service for assistance or product evaluation.

Best Lowe’s Credit Card: Features & Benefits

The Lowe’s Advantage Card can be a valuable asset for those planning significant home improvement projects or regular shoppers at Lowe’s stores. It offers a compelling 5% discount on all Lowe’s purchases, which can lead to substantial savings, particularly for large projects.

The card provides options for special financing, including a six-month deferred-interest period on purchases over $299 and extended fixed monthly payment plans on larger purchases, with competitive APRs.

This flexibility makes it appealing for those seeking financing. With no annual fee, it’s a cost-effective choice.

The Lowe’s Advantage Card has some limitations. It can only be used at Lowe’s and online, limiting its usefulness for everyday expenses. The card’s standard APR, currently at 26.99%, is relatively high, making it less suitable for those who intend to carry a balance.

The special financing is attractive but comes with a catch, as it operates on deferred interest, retroactively charging interest if the balance isn’t paid in full within the promotional period.

The Lowe’s Advantage Card is best for individuals who are certain they can pay off their balances every month, maximizing the 5% discount. It’s also ideal for those planning large home improvement projects with the goal of using special financing effectively.

However, for those who want a versatile card or may carry a balance, there are better alternatives to consider, particularly if they have a strong credit history.

  • Pros
  • Cons
  • 5% Discount at Lowe’s stores
  • Special financing options for larger purchases
  • No annual fee
  • Additional cardholder promotions
  • Limited to Lowe’s stores and online use
  • High standard APR (26.99%)
  • Deferred interest on special financing
  • Modest introductory offer (around $25 off first purchase)

How to Choose best Lowe’s Credit Card?

Selecting the ideal Lowe’s credit card depends on your needs. If you often shop at Lowe’s and engage in significant home improvement projects, the Lowe’s Advantage Card, offering a 5% discount or financing options, is an excellent choice.

Assess your credit score, considering alternatives and fees, while keeping an eye out for special promotions. Understanding the fine print and evaluating your payment habits is crucial. Remember, Lowe’s credit cards are exclusive to Lowe’s purchases.

How to apply Lowes Credit Card?

  • Visit the Lowe’s website or go to a Lowe’s store.
  • Choose the type of Lowe’s credit card you want to apply for.
  • Fill out the application form online or request one in-store.
  • Provide personal information, including your name, address, and Social Security number.
  • Wait for the credit check and approval process.
  • If approved, you’ll receive your Lowe’s credit card in the mail.
  • Activate your card by following the instructions provided.
  • Start using your Lowe’s credit card for purchases and enjoy its benefits.

Does Lowe’s offer a credit card?

Yes, Lowe’s offers its own credit cards. They have the Lowe’s Advantage Card for consumers and Lowe’s Business Credit Cards for business customers.

What credit card company is Lowes credit card?

The Lowe’s Advantage Card is issued by Synchrony Bank, while Lowe’s Business Credit Cards are issued by American Express.

Is Lowe’s credit card a real credit card?

Yes, Lowe’s credit cards are real credit cards that can be used for making purchases at Lowe’s and, in the case of Lowe’s Business Credit Cards, other locations as well.

How to get a Lowe’s credit card?

To get a Lowe’s credit card, you can apply online, in-store, or by phone. The application process typically includes a credit check, and approval is based on your creditworthiness.

What is the maximum limit on Lowe’s credit card?

The maximum credit limit on a Lowe’s credit card can vary based on individual creditworthiness. It may be influenced by factors such as credit history and income.

How much is Lowe’s credit limit?

The specific credit limit on a Lowe’s credit card is determined by the credit card issuer (Synchrony Bank or American Express) based on your credit profile and financial situation. Your credit limit can vary from person to person.

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