Does Lowe’s finance its customers, and what benefits can they get from Lowe’s credit card? If you’re remodeling your home and planning to buy supplies from Lowe’s, this is undoubtedly one of the important questions you should answer.
Lowe’s finances its customers with many beneficial options to help them complete home improvement projects. Lowe’s Advantage Card has many rewards and benefits, but it also requires a satisfactory credit card score.
Find out more about the financing program Lowe’s has for its customers and plan your DIY projects like a pro. I’ve prepared some things you need to know, so keep reading.
Does Lowe’s Finance Its Consumers?
Lowe’s has been in business for many years, and it has become quite popular. So, it’s quite normal that customers have some special financing when shopping in one of their stores. That’s how if you’re planning to make a bigger purchase at Lowe’s for your home improvement project, know there’s a credit card you can apply for to receive several benefits. Let’s check them out:
- 5% off every day for purchases over $299,
- 84 fixed monthly payments at 7.99% APR on purchases of $2,000 or more,
- 18 months of special financing for in-store product purchases or orders of $999.
- No annual fee,
- 20% off for new accounts.
What Cards Can You Apply For at Lowe’s?
One of the best things about purchasing at Lowe’s is the various credit card options. That’s because you can choose from cards for your home or business:
- Lowe’s PreLoad Discover card,
- Lowe’s Business Rewards card,
- Lowe’s Business Advantage,
- Lowe’s Commercial Account,
- Lowe’s Lease-To-Own card.
What Credit Score You Need to Have for Lowe’s Credit Card
As you may already know, you’ll need a satisfactory credit score for most other store credit cards, like Home Depot or Target. The same thing goes for Lowe’s credit card too. In fact, it should be at least 640 points to be eligible for Lowe’s credit card. And no matter if you’re purchasing in Lowe’s stores in Ohio or somewhere else, know that the requirement will be the same.
Check the Lease-To-Own Program
If you don’t have the needed credit score for Lowe’s store card, the retailer offers you another option – a lease-to-own program. It’s practically a lease-purchase option that will help you buy something today with an initial $79 payment and a maximum of $2,500. But, you need to know that the items purchased through this program won’t be yours until the amount is fully paid for the 12 months.
Know Everything About Lowe’s Advantage Card
Before you apply for Lowe’s Advantage Card, know that it’s difficult to get because of the high credit score requirement. But, once you get it, know there will be many benefits you can enjoy. For example, you have a 5% discount for in-store and online purchases. However, be aware you won’t be able to combine benefits.
Other rewards include six months of special financing for purchases of $299 or more and 84 fixed monthly payments for those of $2,000 and more. So, if this is just what you need, the Advantage card is right for you.
Compare Lowe’s Advantage Card to Other Cards
Naturally, Lowe’s isn’t the only home improvement retailer in the country. So, why should you buy precisely there and do other stores have better offers for you? That’s probably why you’re probably wondering how to get a Home Depot card, and also, is that card even worth it?
But, if you include a 5% discount for every purchase, no matter if it’s a lightbulb replacement or a bigger remodeling project, it’s more than tempting, especially if you need to put new gadgets and tools that can be pretty expensive. If you’re not sure which retailer offers a better deal, here’s a quick comparison of Lowe’s and Home Depot store cards:
| Lowe’s Advantage Card | Home Depot Credit Card | |
| Recommended credit | 620 | 580-740 |
| Intro offer | N/A | N/A |
| Annual fees | No fees | No fees |
Lowe’s Have Some Amazing Financing Offers for Its Customers
Lowe’s financing programs are considered more beneficial than other stores are offering to their clients. The most famous option is surely Advantage Card because customers can pay for some expensive items without interest but for a limited time. However, you need to know that no interest isn’t the same as 0% for general credit cards. In fact, you’ll need to pay the entire amount by the end of the intro period.