Lowe’s Advantage Card Review


Top perks

Sign-up bonus: When you open a Lowe’s Advantage Card, you receive a coupon for 20% off your first purchase. The maximum discount you can get is $100, so you’ll save the most with this offer if you use it on a $500 purchase. You can use your discount for either an in-store or online purchase. It can’t be combined with any other coupon or the 5% Lowe’s Advantage Card discount. This introductory offer currently has an end date of Jan. 31, 2021.

Rewards: 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: Lowe’s Advantage Card has two available financing plans:

  • No interest on purchases of at least $299 when paid in full within six months, which Lowe’s calls special financing
  • 84 fixed monthly payments at a 7.99% APR on purchases of at least $2,000

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. You do need to be careful with these financing offers. As we’ll see below, the special financing plans are deferred-interest offers, which is not the same as the promotional period on 0% intro APR credit cards.

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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.


View more information: https://www.fool.com/the-ascent/credit-cards/lowes-advantage-card-review/

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