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How To Qualify For Lowes Credit Card

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What Credit Score Do You Need For A Lowes Credit Card

Credit Card Review: Lowe’s Advantage Credit Card

Like most other store credit cards available, such as Home Depot or Target, Lowes credit card does require its applicants to have a satisfactory preliminary credit score to be successful.

So, Lowes requires you to have a credit score of at least 640 points to be eligible for the Lowes store credit card, as determined by the credit bureaus check.

Due to Lowes doing a hard credit check, your score can be negatively affected if your application fails.

The Drawbacks Of Lowes Credit Cards

Unless youre a frequent shopper at Lowes, there are some significant drawbacks that come with using the Lowes Advantage Card:

  • For starters, the Lowes Advantage credit card comes with a high APR. For those that are choosing this card to defer payment through special financing options, cardholders must be careful to pay off the entire statement balance or more than the minimum to avoid interest charges. Therefore, the Lowes Advantage Card is only for responsible cardholders.
  • Because the Lowes card cant be used anywhere other than Lowes stores and online at, the versatility of this credit card is significantly limited. While this is par for the course with many retailers credit card, the Lowes Advantage Card doesnt come with many enticing perks typically found with other retailer credit cards, such as free shipping, extended warranties, extended return periods and so forth.

Its for these reasons that qualified applicants may want to compare the Lowes Advantage Card to other options for better perks, rewards opportunities, better APR, and more.

What Credit Card Can I Get With A 600 Credit Score

Best credit cards if your FICO score is 600 to 649 overviewCredit CardBest ForCapital One Platinum Credit CardRebuilding creditSecured Mastercard® from Capital OneThe lower end of fair creditOpenSky® Secured Visa® Credit CardThose with little to no creditDiscover it® SecuredCashback rewards AND building credit5 more rows

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Does Lowes Offer A Store Credit Card

Yes, Lowes does offer multiple store credit cards.

With that, you can apply for one of these cards online or at a customer service desk at your local Lowes store.

Also, the credit cards that Lowes currently offers are:

  • The Lowes Advantage card
  • The Lowes Business Advantage card
  • The Lowes Commercial Account
  • Lowes Business Rewards
  • Lowes PreLoad Discover card
  • Lowes Lease-To-Own card

Additionally, applicants need their Social Security number, contact information, and other personal details to meet eligibility requirements to be successful.

Alternatives To The Lowes Advantage Card

Lowes credit card

The Advantage store credit card isnt 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 up to 2% cash back on all purchases: 1% as you buy and 1% as you pay. And since it’s a Mastercard, you can use it just about anywhere. This card also has a $0 annual fee.

If home improvements are part of your job, the Lowe’s Business Rewards Credit 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.

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 ).

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

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You Can Take Six Months To Pay For Any Big Purchases

The interest-free financing option is good. On purchases of $299 or more, customers have the choice between the 5% discount or six-month deferred-interest financing. Considering that the Lowe’s Advantage Card’s standard APR is 26.99% as of this writing, this benefit can be far more valuable over a six-month period than the discount.

However, keep in mind that this is deferred-interest financing, not 0% intro APR financing. Here’s the difference. If you have 0% intro APR financing, interest will only begin accumulating after the no-interest period expires. With deferred-interest financing, if you don’t pay the balance in full before the promotional period ends , interest will be charged to your account retroactively from the date of the purchase. In other words, this benefit is only valuable if you pay the purchase off in full within six months.

It’s also worth mentioning that there are often promotional deferred-interest financing offers with longer terms, such as 12, 18, or even 24 months. However, the six-month option is always available.

% Interest For Six Months

Instead of going for the 5% off discount, you may also choose to take the 0% interest for six months when you spend $299 and above. That arrangement allows you to spend money as if you are using your savings. Instead of saving for up to six months for that appliance, you need urgently, buy it with the Lowes card. You will then pay the minimum payments without fail each month until you clear the balance.

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Get Your Credit Score Improved Professionally

In some cases, we recommend speaking with a Credit Repair professional to analyze your credit report. It’s so much less stress, hassle, and time to let professionals identify the reasons for your score drop.If you’re looking for a reputable company to increase your credit score, we recommend Credit Glory. Call them on or setup a consultation with them. They also happen to have incredible customer service.Credit Glory is a credit repair company that helps everyday Americans remove inaccurate, incomplete, unverifiable, unauthorized, or fraudulent negative items from their credit report. Their primary goal is empowering consumers with the opportunity and knowledge to reach their financial dreams in 2020 and beyond.

There Are Two Ways To Shop At Lowe’s

$3,500 Store Credit Card for a Primary Tradeline To Build Your Credit!

Our consumer credit program can help you find everything you need to remodel, redecorate, and renovate. While our business credit and financing fits your needs and scale, from small local businesses to nationwide corporations.

All you have to do is apply in-store and you’ll receive a Temporary Credit Card to shop in-store immediately. Once your Permanent Card arrives, you can shop both in-store and online on*

  • For small to medium businesses
  • Great for flexible payment terms and limited card usage to Lowes

Lowes Account Receivable:

  • For medium to large-sized businesses
  • Great for job or invoice accounting needs
  • In-store purchases only

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Wells Fargo Cash Wise Visa Card

Wells Fargo Cash Wise is the best card if you want a little bit of all the goodies that are offered in a credit card. This card has no annual fee, you can earn $150 cash rewards bonus if you spend $500 in purchases within the first three months. You can receive 1.5% cash rewards on all your purchases as there are no restrictions on spending categories. You can get 1.8% cash rewards if you shop online using qualified mobile wallets within the first year of account opening.

Which Card Is Better

The Lowes Advantage Card has a far superior rewards program, offering either a discount or the ability to obtain special financing for larger purchases. However, its regular interest rate is high, making it a poor choice for long-term financing.

While the Home Depot Consumer Credit Card does not have a rewards program, it does offer low introductory APRs, special financing of purchases over $299, and the ability to return items for up to one year.

Ultimately, the decision between a Lowes and a Home Depot credit card will likely come down to where you shop. Neither card has a great regular interest rate compared to other , although consumers with good credit can get a much more favorable interest rate from Home Depot.

The most important thing to remember is to use these cards wisely, and to make sure to pay them off before any introductory periods end. That way, you can take advantage of any benefits they offer without getting hit with high interest rates.

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Why Get The Lowes Consumer Credit Card

  • You already spend a lot of money at Lowes and want to benefit from an ongoing discount without having to pay an annual fee.
  • Youre a do-it-yourselfer who wants access to promotional financing for those big home renovation projects.
  • Youre a Home Depot customer whos willing to switch for the 5 percent rewards.
  • You dont plan to carry a balance from month to month.

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 youd pay with personal loans or home improvement loans.

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A Benefit In The Long Run

If you don’t rack up a huge balance on your new credit card, then opening it could actually help your credit score improve over time. One big factor that goes into calculating your score is your . That ratio measures how much of your total available credit you’re using at once, and it carries more weight in calculating your score than the length of your credit history.

Let’s say that you currently have a total spending limit of $10,000 across all of your cards, and youre carrying a $3,500 balance. That puts you at 35% utilization, which is kind of high and is likely to cause some damage to your score . If you were to open a new credit card with a $3,000 limit, suddenly, your credit utilization ratio would drop to 27%.

Here Are The Lowe’s Credit Card Promotions:

  • 5% off all Lowe’s purchases: Both Lowe’s credit cards
  • 0% – 7.99% for 6 – 84 months deferred interest, depending on the purchase:Lowe’s Store Card. Can get this or 5% off purchases. 26.99% regular APR.
  • $100 cash back upon approval:Lowe’s Business Credit Card
  • Special temporary discounts: Both Lowe’s credit cards. A recent example is 20% off your purchase when you open and use your card with Lowe’s Store Card.

The Lowe’s Business Credit Card offers some great rewards, too 1 – 2 points per $1 spent, depending on the type of purchase. Plus, the card comes with purchase protection, car rental loss and damage insurance, extended warranty coverage, and special discounts with LowesForPros.

As far as the personal card goes, you should probably pick 5% off Lowe’s purchases out of the two promotions. Deferred interest really isn’t worthwhile. You’d get no interest if you pay in full within 6 months. But if you don’t, you’d owe all 6 months’ worth of interest at 26.99%. If you need to finance, you’re better off getting a card that really gives you 0% interest and only charges interest on the balance that’s left after the intro period ends. For example, you could try the Citi Simplicity® Card.

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Getting A Home Depot Credit Card

Home Depot offers one non-commercial credit card called the Home Depot Consumer Credit Card. Offered through Citi, this card is available for customers with fair credit ratings. It is a great choice for anyone who shops frequently at Home Depot.

Home Depot conducts a soft credit check, which allows applicants to see if they may qualify for the card without damaging their credit score. Consumers can apply for the card online or in-store, with the potential for approval by the end of the day.

Lowe’s Card Vs Home Depot Card

I was approved for a Lowes Line of credit & Exxonmobil fleet card | Business credit

You can’t really talk about the Lowe’s Advantage Card without also talking about The Home Depot Consumer Credit Card, offered by the biggest name in the home improvement game. Home Depot’s annual sales are higher than Lowe’s, so you might expect its credit card to offer richer perks, too. But in a head-to-head comparison, the Lowe’s Advantage Card blows Home Depot’s card out of the water.

The Home Depot Consumer Credit Card offers no ongoing purchase benefits at all no discount, no rewards. You can get six months of deferred-interest special financing on purchases of $299 or more, or up to 24 months for certain promotions, and you get a year to make returns as opposed to the usual three months. And that’s about it. When you consider that pricing reviews have found that the two chains are roughly equivalent in terms of cost, the Lowe’s Advantage Card is such a better product that it’s not even a competition.

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The Lowe’s Advantage Card Is Right For You If:

You spend at least $500 per year at Lowe’s and you either want to get discounts or finance your more expensive purchases.

Since the benefits of the Lowe’s Advantage Card are so simple, it’s also easy to figure out if this is a good credit card for you. A 5% discount at Lowe’s is more than you’ll get from almost any other rewards credit cards. The card’s financing plans are also competitive. If you’re a DIYer or just like to make major home purchases at Lowe’s, a Lowe’s credit card is sure to save you some cash.

What Credit Bureaus Does Lowes Use For Its Store Credit Card

Lowes automated system will accept your credit card application and then pass your financial details off to one of three major credit bureaus to complete the check.

Then, Lowes credit card system will randomly select Equifax, Experian, or TransUnion for the credit check.

However, the credit bureau selected for you is entirely random, and there is no way to choose one of the three bureaus specifically.

Moreover, Lowes store credit card is issued through Synchrony Bank, which relies on Equifax, Experian, and TransUnion for quality checks.

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Excellent Everyday Rewards Rate

The Lowe’s Advantage Card has a great everyday rewards rate. Customers can get 5% off purchases on their cards, on top of any other applicable discounts. Even the best cash-back credit cards have everyday rewards rates in the 2% ballpark, and the cards that do offer 5% rewards do so only in rotating categories. So, a 5% rewards rate on purchases is rather competitive.

To be clear, this isn’t cash back, but it’s effectively the same thing. Instead of giving you 5% of your money back at a later date, your Lowe’s purchases will simply cost 5% less than they otherwise would.

Disadvantages Of Lowes Special Financing

Lowes Credit Card Login Payment, Phone ...

Although you can save quite a bit of interest with the Lowes 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 Lowes stores or special financing. You cant take advantage of both offers.

And although there are no rewards with the Citi Simplicity Credit Card, you’re most likely going to get a lucrative introductory APR offer, without the spending requirements attached to the Lowes special financing offer.

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How To Apply For The Lowes Advantage Card

You can apply for the Lowe’s Advantage Credit Card online by visiting and clicking Apply Now. Youll 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. Lowes 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.

Lowe’s Advantage Credit Card Review: Is It Worth Applying For

Advertiser Disclosure

Advertiser Disclosure: ValuePenguin is an advertising-supported comparison service which receives compensation from some of the financial providers whose offers appear on our site. This compensation from our advertising partners may impact how and where products appear on our site . To provide more complete comparisons, the site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.

Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Citi is an advertising partner.

  • Someone searching for a credit card with no annual fee

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Is The Lowe’s Advantage Card Worth It

The bottom line is that the Lowe’s Advantage Card is a good credit card to have if:

  • You want the 5% discount and plan to pay your entire statement balance in full each month or
  • You like the special financing terms, and are confident that you can pay the entire balance during the promotional period or
  • You want to finance a high-cost home improvement project with a low fixed interest rate.

On the other hand, the Lowe’s Advantage Card is probably not the best choice if you plan to carry a balance from month to month, as you’re likely to find lower-interest credit cards, especially if you have a strong credit history. Or, if you just want an all-in-one credit card that you can use at any merchant , you should probably consider some of the alternatives.

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