The Lowe’s Credit Card: 7 Things to Know Before You Apply

Lowe's, like many stores, offers its own branded credit card. Similar to how other store cards work, the Lowe's card can only be used in Lowe's stores, and the discounts and perks you get are available only at the popular home-improvement store.

The good news is that those discounts and perks abound. You’ll benefit from no annual fee, you can save up to $100 on your first in-store purchase after becoming a cardmember, and you can score special financing on qualifying purchases (more on that below).

The standard APR, or annual percentage rate, on the Lowe's store card is pretty high, though, just as it is for many store cards. And the special financing offer only saves you on interest if you pay off your card within the promotional period. Interest is charged starting back to the purchase date if you don’t pay off the balance in full, so you could get hit with big bills. You also don’t get the flexibility you'd get with other rewards cards not tied to a single store brand.

You’ll need to think carefully about whether the Lowe's card is right for you — but many DIYers do find the Lowe's credit card is worth using. In this Lowe's Advantage Card review, here are seven things you need to know to make the decision for yourself.

5% discount at check-out

When you make most purchases with your Lowe's credit card, you’ll get an automatic 5% discount at the register. This is one of the best perks of this card. Unlike many other store credit cards, which only send you periodic coupons or provide rewards after spending, Lowe's gives this discount upfront. This means you never need to wait for your card to provide savings.

However, the 5% discount only applies to eligible purchases and does not apply to gift cards. It also can’t be used with any other coupons or discounts, including the Lowe’s military or employee discount or the Lowe’s low-price guarantee. It can’t be used with Contractor Packs, either, and you won’t get a discount on fees, taxes, extended protections, replacement plans, assembly charges, shipping, or delivery. Certain brands are excluded from the discount as well, including Kichler and Weber.

Deferred financing offers

On purchases of $299 or more, you have the option to choose six months of 0% APR financing. Lowe's also periodically runs special promotions where you can get 0% financing for longer. For example, you might be able to get 12 months at 0% APR on appliances or installed heating, ventilation, or air conditioners at certain times of the year.

The 0% rate applies only if you pay off the full balance of the purchase within the promotional period. Otherwise, you’ll owe interest back to the purchase date, which can become very expensive.

Special project financing

If you make a purchase of $2,000 or more, you have the option to choose Fixed Pay Financing. This reduces your APR and allows you to pay off your project with fixed payments over a set period of time.

As of September 2022, you have one option for project financing: a reduced APR of 7.99% if you opt for 84 fixed monthly payments.

You’ll need to request this special financing at the time you make the purchase. Regular account terms will continue to apply to other purchases you make with your card, and your fixed monthly payment required for the special project financing may be higher than your normal monthly minimum payment would be.

Special savings 

When you open a Lowe's Advantage Card, you receive a 20% discount of up to $100. If you opened your account in store, you have to ask the cashier to apply the discount. If you apply online, by using text-to-apply, or with a QR code, you will receive a coupon code that you can use in store or online. You must use the 20% off coupon between February 1, 2022, and January 31, 2023. 

Your savings cannot be combined with the 5% Off Every Day offer, Special Financing, other special discounts, or Weber or Kichler products. 

A high standard APR

There are also some big negatives to be aware of when considering whether to apply for a Lowe's credit card — and the standard APR of 26.99% is one of them.

This is a pretty high interest rate, so you could end up owing a lot of money if you don’t pay off your balance at the end of a billing cycle or before your 0% promotional rate expires. The interest you’d pay would be significantly greater than the 5% discount you’d receive for using your card, which means you’d be incurring a high cost for using this card.

That being said, the Lowe's Advantage card APR is comparable to other store credit cards. 

Deferred interest on financing options can result in owing a lot

Deferred interest offers are dangerous because you end up owing back interest if you fail to pay off the full amount you owe on the card by the end of the declared time period.

For example, if you borrow $1,500 on your Lowe's card, qualify for 0% interest for six months, and don’t pay the loan off in full, you’ll owe back interest at 26.99% on the $1,500 dating back to the purchase date. This means you’d owe interest on $1,500 at 26.99% dating back six months, which would be around $200 in back-interest costs.

Project financing can be a risky option, too

Project financing can also pose a similar risk of not being the best financial option, considering your interest rate could go back up to the standard APR if you miss a fixed monthly payment.

Plus, even the low fixed interest rates can make your project more expensive than if you had paid cash — although the special rate may still be better than what you’d pay with personal loans or home improvement loans.

Who the Lowe's Advantage Credit Card is best for

So, with four strengths and three risky aspects, who is the Lowe's Advantage Card best for?

The card is a great option for DIYers who will take advantage of the 5% discount regularly or who want to pay off a project over time and are confident they can make payments on schedule. However, the card is worth it only if you don’t have to pay the standard APR on any of your purchases — which means you need to be sure you can make your monthly payments in full.

Since the Home Depot credit card doesn’t offer the same type of 5% discount on all purchases that the Lowe's card does, it may even be worth switching to Lowe's to get this card if you have a lot of home improvement projects planned and both stores are available in your town.

And because cardholders get that 5% discount on Lowe's purchases, if you’re spending a fortune on home improvement and would likely exceed rewards limits on regular cashback credit cards, the Lowe's store card could be a better option for you as your discount isn’t capped and there’s no annual fee.

How to apply for the Lowe’s Advantage Card

You can apply for the Lowe's Advantage Credit Card online by visiting lowes.com and clicking “Apply Now.” You’ll need to provide personal details, including your name, address, and Social Security number.

You can also apply for the Lowe's card in-store if you prefer. Ask at a register or talk with customer service about applying for credit. Lowe’s will often run limited-time sign-up offers that are only valid to those who applied in-store, so we recommend inquiring on your next trip before applying online. Applicants with a credit score considered “fair” or above are typically approved within a few days.

Managing the Lowe's Advantage Credit Card

Like most credit cards, the simplest way to manage your Lowe's credit card is with your online account. You can access your account at lowes.syf.com. If this is a new Lowe's credit card account, you'll need to register your account with your account number and ZIP code, then create a user ID and set a password. You can then use your credit card login to access your credit card bill and make your credit card payments through your online account. 

You can also mail payments to Lowe's by making a check out to "Lowe's/SYNCB" and sending it to Lowe's, P.O. Box 530914, Atlanta, GA, 30353-0914.

You can also download the MySynchrony mobile app to manage your account from your phone. 

If you have questions, you can call the consumer credit card phone number at 1-888-840-7651.

Alternatives to the Lowe’s Advantage card

The Advantage store credit card isn’t right for everyone. You may be better off with one of the best rewards credit cards that is general-purpose where you can use it in more stores rather than adding another card to your wallet that you have to keep track of. 

The Citi Double Cash^® Card could be a great option. With this card, you can earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases; plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24. And since it's a Mastercard, you can use it just about anywhere. This card also has a $0 annual fee. 

Learn more in our Citi Double Cash Card review. 

If home improvements are part of your job, the Lowe's Business Rewards Card from American Express might be a better option. As an Amex card, it comes with special perks such as car rental insurance, extended warranties on purchases, and more. You can use this business credit card anywhere Amex is accepted, not just at Lowe's stores.

Learn more in our Lowe's Business Rewards Card from American Express review. 

Finally, looking at the best 0% APR credit cards may might be a great idea, as many credit card issuers provide this promotional rate for months after the time of purchase or balance transfer without the risk of deferred interest charges. It could be the easiest way to finance large home improvement projects. 

For example, the Chase Freedom Flex℠ offers 0% APR financing on purchases for 15 months on new accounts (then 20.49%-29.24% Variable).

Learn more in our Chase Freedom Flex review. 

You should compare these other credit card offers to see if one may be a better fit than the Lowe’s home improvement card if you’re hoping to pay for purchases over time.

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Rates and fees

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn 2% cash rewards on purchases

Benefits and Drawbacks

Benefits

• $200 cash rewards bonus after spending $500 in purchases in the first 3 months
• Earn unlimited 2% cash rewards on purchases
• Intro APR on purchases and qualifying balance transfers
• $0 annual fee

Drawbacks

• Has foreign transaction fee
• No bonus categories

Card Details

• Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
• Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
• Earn unlimited 2% cash rewards on purchases.
• 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
• $0 annual fee.
• No categories to track or remember and cash rewards don’t expire as long as your account remains open.
• Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
• Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.