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Can you pay your lowes bill online

can you pay your lowes bill online

Log in to your Lowe's credit card account online to pay your bills, Just tried to make a payment on my Lowes Credit Card, which I wouldn't have if I'd. How to use Klarna at Lowe's. Download the Klarna app and search for Lowe's. Search for Lowe's on the home screen and start adding items to your cart. Lowe's Advantage Credit Card is still not currently supported by QuickBooks for online banking connection. We certainly want to speed up the process of adding.

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Lowe’s Accounts Receivable Business Credit Card

If you’re a business owner looking for special financing options and a 5% discount at Lowes, the Lowe’s Account Receivable Business card might be the one for you. For no annual fee, you can issue cards to authorized employees and monitor them, but you’ll need to pay off your balances in full each month.

Apply NowRead Our Review

Our rating

Min. credit level:Fair

Annual Fee:$0

Regular APR:5.00%–18.00%

Lowe’s Accounts Receivable Business Credit Card

Our rating

FairMin. credit level

$0Annual Fee

Apply NowRead Our Review

Highlights & Features


  • 5% off on Lowe’s purchases

Balance Transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

Intro Balance Transfer APR N/A
Regular Balance Transfer APRN/A
Balance Transfer FeeN/A
How to Transfer a Balance on a Credit Card

Cash Advances

Borrowing cash on your card is a cash advance. Cash advances usually come with very high fees. Even worse, cash advances can signal to lenders that you’re being irresponsible with money.

Cash Advance APRN/A
Cash Advance FeeN/A
How to Get a Cash Advance with a Credit Card
Lowe’s Accounts Receivable Business Credit Card


  • 5% off at Lowe’s
  • Must pay in full each month
  • Purchasing control can only be used at Lowe’s
  • Discounted delivery on Lowe’s ProServices purchases
  • Make purchases on your phone, fax or online at
  • Ability to limit dollar amount on single purchases
  • Individual and consolidated statements for linked primary/secondary accounts with product-level statement detail for each invoice
  • Robust job account management including account level itemized statements, and ability to pay by invoice

The Lowe’s Accounts Receivable card is for medium to large business owners looking to track employee spending without carrying a month-to-month balance.

You can request and manage cards for authorized employees, set spending limits, and monitor up to 12 months of statement activity along with other account activity.

After you link a secondary account to your primary account, you can:

  • Share credit lines and set specific limits
  • Track payments and purchases
  • Get consolidated or individual statements
  • View monthly statement transaction details such as store location, products purchased, or invoice number

This card has no annual fee and you’ll get 5% off every purchase Lowe’s, but you have to pay this card off in full every month.

See our review and comparison of all the Lowe’s business cards in our Review of the Lowe’s Business Credit Card Account Options.

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Lowe's Store Credit Card Review


Big projects and plans for our homes are seldom cheap or easy.

One way to get the most out of the money spent on home improvements is through rewards cards that specifically award these types of purchases.

Because of Lowe's reputation as a leading retailer for everything from building supplies and hardware to flooring and appliances, the Lowe’s Consumer Credit Card is often the first choice for consumers.

If you’re looking for the best credit card for your home improvement purchases, here’s how the Lowe’s Store Card stacks against the competition:

  • People with fair credit scores can more easily get approved
  • You can apply online
  • You can pay your bills online
  • You can choose between 5% back on Lowe’s purchases or special financing on those purchases

Application and Bill Pay

As with many other store credit cards, the Lowe’s card application is available online. Its bill pay services for managing your account are also available online.

This is particularly convenient for new applicants who would like to apply and get a response from their living rooms, rather than waiting in the store at the counter.

Think this is standard? Think again. Believe it usps office open today not, there are store cards that still require consumers to apply in-store.

And when it comes to the types of large purchases you might plan to make in Lowe’s stores, applying in-store could be a big hassle.

What Credit Score is Needed

Store credit cards accept those with lower credit scores than other credit cards. For the Lowe’s Card, you may qualify with a credit score in the low to mid 600s.

On the other hand, most of the top rewards credit cards are going to require a credit score in the “excellent” range.

The Lowe’s Card is particularly helpful for people who’ve had credit problems in the past or are working toward building credit for the first time.

This benefit is one particular to store cards in general. Store cards are often the easiest of all cards to be approved for.

Why is this? It's because retail stores can charge high interest rates and keep lending limits low. This keeps their risk low, making it easier for them to offer cards to those with lower credit scores.

And for those with credit scores? Well, if you can keep your balance low, then you can build your credit score up without succumbing to debt.

In order to improve your credit score, one major factor is your payment history.

If you pay your bills on time every time consecutively, you'll start to see an increase in your score. (And, if you pay your bill in can you pay your lowes bill online before the end of the billing cycle, you'll do so without paying a dime in interest.)

You can also improve your score by keeping your credit utilization low. (Credit utilization is the amount of money you owe versus how much credit you have available to you.)

When you combine payment history with credit utilization, you've already covered 65% of your credit score. Not bad for pretty little effort.

If you're looking for a way to finance your home improvement purchases and improve your credit score, the Lowe's credit card could be a great way to accomplish both at the same time.

Credit Card Promotions

Lowe’s offers a few different promotions that you might find beneficial while shopping. One of the offers is 5% off your purchase when you use your Lowe’s Credit Card.

There are a few limitations to the 5% off. For instance, this discount doesn’t apply to gift cards, services, and some brands of appliances.

You also can’t use the offer in conjunction with other promotions. Still, for home improvement purchases where the costs can get high, 5% can quickly add up to a large amount of savings.

Downsides of Lowe’s 5% Off

Although 5% is a nice discount on home improvement purchases, the limitations of this discount can mean you might not even get to take advantage of it.

If you are specifically looking for a card that offers a discount or rewards on your Lowe’s purchases, there are cash back credit cards without these limitations.

Another option for saving on Lowe’s purchases is with the Chase Freedom Credit Card, which awards up to 5% cash back on rotating quarterly categories.

However, for Lowe’s purchases specifically, the store happens to be a retailer that is part of the online Chase Ultimate Rewards portal, which awards 3% cash back on all your Lowe’s purchases.

This card allows you to earn cash back on your home improvement purchases, as well as many other types of purchases that aren’t at Lowe’s.

Unless you frequently shop at Lowe’s, the Chase Freedom are better options.

Credit Card Special Financing Offers

The other promotional offers with the Lowe’s Card involve saving money on interest can you pay your lowes bill online special financing.

If your purchases total at least $299 to $998.99 made with the card, you can take advantage of special financing for 12 months.

This means you can pay down your balance without any interest. If your purchase is $999 or more, chase bank name change kit get 18 months to pay it off without any interest.

Disadvantages of Lowe’s Special Financing

Although you can save quite a bit of interest with the Lowe’s Credit Card if you choose one of the special financing offers, there are a few disadvantages, especially when compared with other credit card offers.

Primarily, you have to choose either the 5% off at Lowe’s stores or special financing. You can’t take advantage of both offers.

On the other hand, however, the Discover it Credit Card offers a 0% APR for purchases and balance transfers for the first 12 months of opening the account, in addition to the cash back you earn with purchases.

And although there are no rewards with the Citi Simplicity Credit Card, you do get a 0% APR for purchases and balance transfers for an unheard of 21 months, without the spending requirements attached to the Lowe’s special financing offer.

Special Financing vs. 0% APR Offers

Another disadvantage of the special financing offer with Lowe’s is that although you don’t have to pay the interest during the promotional period, that interest is still accruing.

If for some reason, you don’t pay your balance in full within that period, all the interest that accrued will be applied to your balance at the end.

With most other 0% APR offers, you pay no interest during the introductory offer. If you don’t pay your balance in full by the end, you are charged interest on the remaining balance at whatever your interest rate is on the card.

Because the APR for the Lowe’s Credit Card versus the lowest APR on the Discover it and Chase Freedom, it’s especially important to consider whether or not you will be able to pay your balance off in full during the promotional period.

Lowe’s Store Credit Card Interest Rates and Interest Charges

Lowe’s Store Credit CardFee
APR for Purchases26.99%
Avoid Paying Interest on PurchasesYour due date is at least 23 days after the close of each billing cycle. You will not be charged any interest on purchases if you pay your entire balance by the due date of each month.
Minimum Interest ChargeIf you are charged interest, the charge will be no less than $1.00.
Late Payment PenaltyUp to $35

Interest Rate Review

Because store credit cards are often easier to qualify for than others, the APRs are usually higher than on other credit cards as well.

In fact, the APR with the Lowe’s Credit Card is among the highest you’ll find on a credit card.

If you plan to consistently pay your balance in full before the end of the billing cycle, you can avoid paying interest on your purchases.

However, if you carry a balance from month to month, the APR is going to add up, making your purchases cost you more in the long run.

If you typically carry a balance, it is best to focus on low-interest credit cards rather than those that provide rewards and other special benefits. And, if possible, pay off those balances as soon as possible.

Should You Apply?

If you have a fair credit score and won’t qualify for other rewards credit cards, you have a better chance with the Lowe’s Card than with other rewards credit cards.

The fact that this card is easier to be approved for compared to other credit cards is its primary advantage when stacked up against the competition.

Although the credit card isn’t the best available for rewards or special financing offers, it does offer the option to choose between taking 5% off your Lowe’s purchases or receiving special financing on those purchases.

And, if you're a frequent Lowe's shopper, either of these benefits can come in handy.

If you make sure you pay your balance in full before the promotional period ends and continue to be diligent in paying balances in full each month, you might find the Lowe’s Credit Card a decent choice for home improvement purchases.

And, as you use the card to help increase your credit score, you can graduate on to even better rewards credit cards in the future.

Featured credit card:

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Lowe’s Bill

What To Do When You Can’t Pay Your Lowe’s Bill

As one of the major suppliers of building supplies, Lowe’s offers everything individuals or contractors need to do small home improvement projects or build a house from the ground up, including Lowe’s credit cards to finance the projects. Lowe’s 1750 hardware stores are scattered throughout the United Can you pay your lowes bill online as well as in Canada and Mexico. They also offer online shopping at Lowe’

As a part of their service to customers, Lowe’s offers a couple of options for credit cards, which are easily found on a tab on the main page. The credit offers include:

  • Lowe’s Consumer Credit Card
  • Lowe’s Project Card
  • Lowe’s Business Credit

Of interest in this article are the consumer lines of credit. The consumer credit card offers exclusive financing offers, a wide range of available credit lines, low monthly payments, and no annual fee. Lowe’s credit card also has online account management and payment options and offers either a 5 % discount off of purchase online or in the store, or special six month no interest financing. The offers must be chosen at time of purchase and cannot be combined.

The Lowe’s Project Card is specifically designed to finance home projects and offers generous credit lines for large projects. It begins with no interest during each six-month purchase period, and fixed monthly payments for four to 10 years after purchase has been completed. Because this is designed to finance large projects, this form of Lowe’s credit requires a minimum $1,000 first purchase.

How To Pay The Bill

Pay Online:
Lowe’s offers a convenient method to pay your Lowe’s bill online by logging on here:

Pay by Phone

You can pay your Lowe’s bill by phone over this number: 1-800-444-1408.

Pay by Mail

You can pay your Lowe’s bill by mail by sending a check to:

Lowe’s Billing
PO Box 530914
Atlanta, GA 30352-0914

Questions About Your Billing Statement or Account?

The Terms and Conditions page details information on late payment fees and transaction fees. Contact 1-800-444-1408 to reach customer service.

How The Penalty Fees Work

Lowe’s Consumer Credit Card has an APR of 24.99% They offer 26 days to pay off your balance without incurring interest.

Late fees vary depending on the balance, ranging from $20 – $39.

Lowe’s Project Can you pay your lowes bill online offers six months no interest, but after that six-month purchase period ends, they charge an APR of 7.99% to 17.99% . It was not clear what determined which rate will be applied.

I Can’t Can you pay your lowes bill online A Payment

Lowe’s billing information did not provide any information on how they would respond to customer’s struggling to make payments. However, we found numerous reports of customers having difficulties with Lowe’s credit card payments, even when they were keeping up with payments. Lowe’s was not properly crediting payments and several customers had collections agents contacting them. This would indicate that Lowe’s is not helpful when it comes to customer’s struggling with payments.

Will They Work With Me To Pay My Bill

We are actively pursuing information on how Lowe’s helps customers who struggle to pay their bills. If you have had an experience, whether good or bad in myprovidence login with Lowe’s credit card, please email us and let us know!


Need the Lowe’s credit card login to make a payment, view a statement or manage your account online? To login, make a payment online or manage your account, click the green “Login Here” button below on this page. You will also find useful bill pay information such as the credit card customer service number, payment mailing address, and billing phone number below. You will also find useful bill pay information such as the credit card customer service number, payment mailing address, and billing phone number below.

Lowe’s is a US home appliance and home improvement retailer with over 1,700 stores across the US and can you pay your lowes bill online expansion into Canada. Lowe’s is the second largest home improvement business in the US serving millions of customers. Lowe’s Consumer Credit Card is a card providing a range of attractive offers and exclusive benefits, and this article goes over the details of this card, terms and conditions, and a guide on how to make payments for your card.

How do I pay my Lowe’s Credit Card Bill?

Pay Online: Lowe’s online credit center allows you to conduct all of your credit arrangement activities conveniently and securely. You can view your account, make paymentsadd new users to your account and receive e-bills. To make your Lowe’s credit card payment online click the green “Login Here” button below to login, register, view your statement or manage your account online.

Lowe’s Credit Card Login Button

Pay by Mail: The Lowe’s credit card payment mailing address is: Lowe’s, P.O. Box 530914, Atlanta, GA 30353-0914.

Pay by Phone: You can make payments over the phone, and the pay by phone number is 1-800-445-6937.

Pay in Store: Yes. You can take your card into any Lowe’s store and td bank international customer service number over the counter with cash or with a bank card.

Lowe’s Credit Card Account Customer Service: The The skeleton key in hindi download credit card account customer service 800 number is 1-800-445-6937.

Where Can I Use My Lowe’s Credit Card?

The Lowe’s credit card is a store card that can only be used at Lowe’s stores or online at

The Lowe’s credit card is issued by Synchrony Bank. There are a variety of ways to make a payment to your Lowe’s Credit Card. You can pay by mail at the payment mailing address below this post. The credit statement you receive in the post will provide you with all the details you need to make a postal payment.

What Form of Payment Does Lowe’s Accept?

Lowe’s accepts Visa, MasterCard, American Express, Discover and of course its Lowe’s credit cards. Lowe’s also accepts personal and business checks with a photo ID matching the name on the checks.

Does Lowe’s Accept Paypal?

No. Lowe’s does not accept PayPal, Apple Pay, or Google Pay at this time.

Overview of Lowe’s Credit Card

Lowe’s Consumer Credit Card is a competitive card which can be used to gain benefits on Lowe’s purchases and finance large purchases, and it can also be used for general purchases anywhere. When you use the card you can benefit from small monthly repayments and a competitive general interest rate.

When you make Lowe’s purchases with the Consumer Credit Card, you have two primary options. You can either choose a discount of 5%, which applies to any purchase you make, or you can select a special 18 month financing option for expenditures over $299. With the latter option, if you pay off the balance in full within 18 months you will pay no interest. So you will enjoy the benefits no matter what type of purchases you make, whether they are small everyday purchases or larger project expenditures. Select between two attractive card designs.

There are a few other Lowe’s credit cards to choose from, such as the Lowe’s Business Credit card and the Lowe’s Project Card, and if you would like more information relating to any of the cards that Lowe’s provides, please the Lowe’s website.

The Lowe’s Credit Card has simple interest terms. Standard annual percentage rate (APR) on purchases is 24.99% variable with no annual fee. Minimum interest charge is $1. Late payment fee charge is $35. If you do not want to pay interest on your balance then the balance needs to paid off in full within 23 days after the previous bill.

Visit Lowe’s on Facebook, and Pinterest. Lowe’s card payment login, address and customer service availability make the process simple and easy to follow.

Categories Credit Card Payment Directory, Credit Card Payment Online, Home ImprovementИсточник:

Lowe's Credit Card: Benefits and Rewards

How the Lowe's Credit Card Works

Lowe's (LOW) offers its customers financing options to help them complete their renovation and home improvement projects. This is through a credit card called the Lowe's Advantage Card.

The company promises cardholders daily advantages. They can choose between a 5% discount on certain purchases, six-month financing options on purchases over $299, or fixed payments for 84 months with a reduced  annual percentage rate (APR) on purchases of $2,000 or more. Cardholders can also take advantage of limited-time discounts and financial deals offered by Lowe's.

The card works in similar ways to many other credit cards. The Advantage Card comes with a revolving line of credit, which means you can use the card up to your approved limit as long as you make regular payments every month. Cardholders can avoid interest charges by paying off the full balance every month. 26.99% as of February 2021. And another bonus—there's no annual can you pay your lowes bill online Key Takeaways

  • The Lowe's Advantage Card provides Lowe's customers with discounts and financing options.
  • Cardholders can choose from 5% discounts, special financing for six-months on purchases over $299, or fixed payments over 84 months at a reduced APR of 7.99% with a minimum $2,000 purchase.
  • You should have a good credit score in order to get the Lowe's Advantage Card.
  • The regular APR for the Lowe's Advantage Card is 26.99%.

Rewards and Benefits

Benefits of the Lowe's Advantage Card include:

  • 5% off eligible purchases
  • Special financing for six months on purchases of $299 or more
  • Up to 84 months of fixed payments at a reduced APR on a minimum purchase of $2,000

Customers may not combine the 5% off promotion with the six-month or special financing deals. With the six-month promotion, the cardholder must make minimum payments on time each month and pay off the full amount of the purchase by the end of the six months. Otherwise, the 0% interest provision is rescinded, and interest is applied to the purchase. The 84-month special financing offer is structured with fixed monthly payments at a reduced APR of 7.99%.

The company also offers new cardholders with certain perks. For instance, if you open an account before Jan. 31, 2022, you can receive a 20% discount on your first purchase for a maximum of $100.

Where Can Someone Get a Lowe's Credit Card

If you're interested in applying for the Lowe's Advantage Credit Card, you can do so at any Lowe's store. The credit www mypremiercreditcard com balance takes only minutes. You can also apply online. If you prequalify, you can apply immediately and get a decision just as quickly as you would if you applied in the store. The prequalification doesn't affect your credit score.

Once approved and the card is activated, the cardholder may use it for any purchases made at Lowe's up to a certain credit limit, which is based on the customer's creditworthiness. The Lowe's card is not accepted at any other retailer or at automated teller machines (ATM's).

What Kind of Credit Is Required for the Lowe's Credit Card

Lowe's doesn't indicate the minimum score required in order to be approved for the Advantage Card. But it's always a good idea to check your credit score before you apply. There's a pretty good chance you will qualify if you at least have good credit. That's about 670 and higher, according to Experian.

Where Can the Lowe's Credit Card be Used?

Because the Advantage Card is a store credit card, you can only use it at Lowe's locations. You can also use it on the company's website to make purchases. You can't use it like a regular credit card to make everyday purchases at other retailers.

You can only use the Lowe's Advantage Card at Lowe's locations or on

Alternatives to the Lowe's Credit Card

The Home Depot (HD) offers amazon prime promotional credit balance credit card with similar features to the Lowe's Consumer Credit Card. The Home Depot Consumer Credit Card features the same 0% interest for six months' benefit as the Lowe's card. Its APR varies from 17.99 to 26.99% based on creditworthiness. This means if you have excellent credit, you may pay a lower rate than the Lowe's card.

For major purchases, Home Depot offers a separate card known as the Project Loan Card. This card provides loans of up to $55,000 payable over 90 months at a fixed APR of 16.24%.

Terms and Conditions of the Lowe's Credit Card

Like any credit card, the Lowe's Consumer Credit Card features terms and conditions that should be reviewed thoroughly. The terms and conditions include the APR, late payment fees, penalties, and other useful information.

The following is updated information for the Advantage Card as of February 2021:

  • APR: 26.99%
  • Late Payment Fee: up to $40 for consumers who fail to make the minimum payment by the due date

Cardholders who choose the 0% financing offer for purchases of $299 or greater and do not pay off the full purchase within six months have interest retroactively applied back to the date of purchase. Moreover, making the card's minimum payment each month is not always sufficient to pay off the purchase in full within six months.

Consequently, borrowers who want to avoid surprise interest charges should remain vigilant that they are on pace to not leave any balance left once the six-month period has ended.

Who Should Consider the Lowe's Credit Card

The Lowe's Advantage Credit Card offers great benefits to home improvement gurus and do-it-yourself types who make the most of their purchases at Lowe's. Even if the special financing deals are never used, a cardholder who buys a lot of home improvement products can save significant money each year with the 5% off promotion. For example, a cardholder who spends $2,000 per year at Lowe's saves $100 over the year.

A person planning a major do-it-yourself home renovation who does not want to pay the entire cost upfront can benefit from the card. By financing the cost over 84 months at 7.99% APR, the cardholder pays significantly less in interest than with most credit cards.

The Bottom Line

If you are a loyal Lowe's shopper, you may want to consider the Lowe's Advantage Card. It comes with no annual fee and a lower APR than some other retail credit cards. You can choose to take 5% discount on your everyday purchases or you can take advantage of special financing for six months on purchases made over $299. If you make a purchase of over $2,000, you can make fixed payments over an 84-month period at a lower APR. Like other retail cards, you can only use this card at Lowe's locations or on the company's website.

Frequently Asked Questions

How do I get a Lowe's credit card?

You can apply for a Lowe's Advantage Card at any Lowe's location. If you want to see if you prequalify without affecting your credit, you can go online and fill out an application. If bank of eastman magnolia state bank qualify, you can then proceed to the application phase. It takes minutes to get a decision whether you apply in-store or online.

At what other stores can I use my Lowe's credit card?

You can't use the Lowe's Advantage Card. That's because it's a store card only. This means you can't use it at other retailers for everyday purchases. But you can use the card online at

Does the Lowe's credit card build credit?

Just like any other credit product, the Lowe's Advantage Card can help you build your credit. Just remember that you need to make regular payments, otherwise your credit score will take a hit.

Payment Information

Will the Lowe's Project Card be a separate account from the Lowe's Credit Card that I already have? . What methods of payment can I use to pay.

Lowe's Advantage Card

Bring your next project to life with the Lowe's Advantage Card. Learn more about the benefits of the Lowe's Advantage Card and how to apply.


Have you ever been shopping at Lowe’s and noticed a sign promoting the Lowe’s Advantage Card?

The in-house store credit card offers your choice of 5% off purchases or special financing offers for no-interest or low-interest payoff periods.

Although that’s tempting, money expert Clark Howard says these offers are not for everyone: He says there are risks with store credit cards like these that you may not be aware of. I’m going to detail those, as well as all the pros and cons of this card, in this article.

Table of Contents

What Is the Lowe’s Advantage Card?

The Lowe’s Advantage Card is an in-house store credit card offered by the home improvement retailer. It does not carry a Visa or Mastercard logo. This means it is only for purchases made at a Lowe’s store or through And you can’t use it for purchases at any other retailer.

This card, which is often pitched as a quick-approval option while in the store, does offer two potential benefits. You can use it for special financing for home improvement projects, home appliances and more. Or you can use it for 5% off the purchase price of eligible items. If your purchase qualifies for both, you must choose one or the other.

How Can I Save Money with the Lowe’s Advantage Card?

There are a couple of different ways that you could use the Lowe’s Advantage card to enhance your purchases at the home improvement store:

  1. Discount off the purchase price
  2. Special financing

It’s important to note that these two ways cannot be combined. The fine print on the card excludes it, and it is clearly explained on the Lowe’s website:

The Lowe's Advantage Card offers customers a couple of different options for savings on purchases.

When you look at these options, you may notice that the 5% off is similar to what some non-branded credit cards offer in cash back or rewards points. But the advantage here is that you’re getting an immediate 5% off your purchase price rather than a reward of a credit on your billing statement.

Clarks says the 5% discount is enough to consider this card if you’re a frequent shopper at the store. That comes with an important caveat, though: He says you must pay your balance in full each month for the discount to be worth it.

The special financing offers are where people may run into trouble. Clark has a warning on retroactive interest with these purchases. I’ll explain that later in this story.

How to Use the Lowe’s Advantage Card

Discounts Off the Purchase PriceSpecial Financing Offers
5% Off Most Everyday Purchases: There is no limit to the number of purchases you can make at the 5% discount, but there are some limitations and exclusions you should note.6 Months of No Interest Financing: If you spend more than $299 on a purchase with this card, it is eligible for “special financing” that will let you pay it off in monthly installments for six months. However, if you don’t repay the total by the end of the term, you could be subject to retroactive interest all the way back to the date of sale.
10% Off First Purchase: At the time this article was written, Lowe’s was running a promotional offer: 10% off the first purchase made by new cardholders. The discount, which was an active promotion at the time this article was written, was capped at $100.84 Months of Fixed Payments: With a purchase of $2,000 or more, you can use this card to pay at a fixed APR. While that may sound good on the surface, the fine print offers a warning: You must make fixed monthly payments for the duration of the payback period.

Is the Risk Worth the Potential Reward?

The idea of an interest-free six-month period to finance your next big household purchase is can you pay your lowes bill online on the surface. But there are risks involved.

The main risk associated with this card is retroactive interest. Let me explain how that works.

If you make a Lowe’s purchase of $299 or more, you can use this card to get 0% financing on the purchase for six months.

If you fail to pay the balance in full by the end of the six months, you will be assessed retroactive interest charges on the full purchase amount. And that interest accrues from the date of the purchase, leaving you owing well in excess of the amount you saw at the register.

Though interest rates vary based upon your credit assessment, it’s likely that your APR will be higher than the national average if you incur the retroactive interest.

After digging into the fine print on this offer, I found a few other things to consider:

  • Making the required monthly payments is not necessarily going to be the path to paying off your purchase: “Depending on purchase amount, promotion length and payment allocation, the required minimum monthly payment may or may not pay off purchase by end of the promotional period.”
  • If you have more than one purchase financed on the card, your payments may not go directly to the special finance offer: “Some or all of the minimum payment based on the promotional balance may be applied to other account balances.”

Clark doesn’t like the special financing, but if you use it solely to get the 5% back and pay it off monthly, this card could work. For shoppers who fit into this category, you may also want to consider using a rewards credit card that can be used anywhere.

Using a cash back credit card, such as the Citi Double Cash, could be a way to secure 2% cash back without having to tap into a new line of credit. Revolving cash back cards, such as the Discover it Cash Back Card or Chase Freedom, offer 5% cash back on categories that change every three months. It’s worth checking those categories before your Lowe’s purchase to see if you may qualify for the 5% discount.

2 Alternatives to the Lowe’s Advantage Card

If you are looking for an alternative to using a store credit card, Clark says these are better ways to finance your upcoming home improvement project if you can’t pay for it in cash.

Clark’s First Suggestion: Home Equity Line of Credit (HELOC)

If the project is large enough, you may actually want to visit your local bank or credit union first. If there is equity in your home, applying for a home equity line of credit may be the most prudent financial decision.

Clark says you’re probably better off securing a lower APR rate via traditional lending if you know you can’t pay off the full balance of your purchase before the introductory offer expires.

“Even though they’re going to pay interest right away, they’re going to pay a much lower effective interest rate than even with 6, 12, or 18 months at 0% but then goes to a 25% or higher interest rate later,” Clark says.

Clark’s Second Suggestion: Low Fixed-Rate Credit Card

Is your home project expensive, but not worth leveraging the mortgage on your house? Clark has another alternative: Ask your bank or credit union about its lowest fixed-rate APR credit cards.

Clark says you often can find a fixed-rate credit card at a credit union for under 10% APR. He would prefer locking in that card rate and trying to pay the balance off early instead of using the 84-month, fixed-rate financing through Lowe’s.

Final Thoughts

If you are considering a large purchase at Lowe’s, the temptation will be there to apply for the Lowe’s Advantage Card. Here are some pros and cons to consider before you make that decision:

Lowe’s Advantage Card: Pros and Cons

Up to 10% off first purchase with the cardCannot use the card anywhere but Lowe’s
5% off most Lowe’s purchases with the cardThere is potential for high APR interest accrual
Special financing offers give 0% periods on some purchasesRetroactive interest is due on special financing if not paid in full by end of promo period

Bottom Line: If you have the financial flexibility and personal discipline to pay your bill for this card immediately, you could enjoy 5% off most of your home improvement purchases. However, if you’re trying to finance a home improvement project that will take you some time to repay, money expert Clark Howard strongly cautions against getting involved with this type of credit.

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