Maria Adams, Credit Cards Moderator
Current Lowe's Store Card promotions include a 5% discount on all Lowe’s purchases and 6 - 84 months of 0% - 7.99% deferred/reduced interest on big-ticket purchases. The Lowe's Store Card gives you a choice between the two. The card’s regular APR is 26.99%.
Occasionally, Lowe’s also runs limited-time credit card promotions for all cardholders.
Here are the Lowe's Store Card promotions:
- 5% discount: You can get a 5% discount on everything you buy at the store.
- 0% - 7.99% deferred/reduced interest: You can pay down big-ticket purchases with “special” financing: You can choose a 0% intro APR if you pay in full within 6 months on purchases of at least $299. Note, though, that this is deferred interest; if you miss a due date along the way or don’t repay your full balance by the due date, interest will retroactively apply to your original purchase amount at the full regular rate. Alternatively, you can choose a reduced APR financing; 7.99% APR for up to 84 months on purchases or orders of $2,000 or more. The regular APR is 26.99%.
- Special temporary discounts: A recent example is 20% off first purchase, up to $100 discount.
You should probably pick the 5% discount on 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. You can check out our editors’ latest picks for the best 0% APR credit cards on the market to weigh your options.
Brandon Bettan, Member
5% off your purchases, and no interest if paid in full within between 1 - 2 years, depending on the amount of your purchases.
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