Advertiser Disclosure

Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). However, the credit card information that we publish has been written and evaluated by experts who know these products inside out. We only recommend products we either use ourselves or endorse. This site does not include all credit card companies or all available credit card offers that are on the market. See our advertising policy here where we list advertisers that we work with, and how we make money. You can also review our credit card rating methodology.

The Lowe’s Advantage Credit Card Review — Everything You Need to Know

Erin Miller's image
Erin Miller
Erin Miller's image

Erin Miller

Content Contributor

Countries Visited: 26U.S. States Visited: 28

An experienced points hacker, Erin is Alex’s partner-in-crime and contributes to Upgraded Points with in-depth guides and relationship management. Erin’s work has been cited in multiple major publicat...
Edited by: Keri Stooksbury
Keri Stooksbury's image

Keri Stooksbury

Editor-in-Chief

Countries Visited: 44U.S. States Visited: 28

With years of experience in corporate marketing and as the Executive Director of the American Chamber of Commerce in Qatar, Keri is now Editor-in-Chief at UP, overseeing daily content operations and r...
& Kellie Jez
Kellie Jez's image

Kellie Jez

Director of Operations & Compliance

Countries Visited: 10U.S. States Visited: 20

Kellie’s professional experience has led her to a deep passion for compliance, data reporting, and process improvement. Kellie’s learned the ins and outs of the points and miles world and leads UP’s c...

    We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

    Everyone knows home improvements can be costly. And hiring a contractor? Even more so. That’s why many people choose the do-it-yourself option.

    This likely means you’re spending a lot of time (and money) at places like Lowe’s. So should you be using their store-branded credit card?

    To answer that question, we’re taking an in-depth look at the Lowe’s Advantage Card by Synchrony Bank.

    The Lowe’s Advantage Credit Card at a Glance

    SCROLL FOR MORE
    Main Benefits*
    • 5% off every day, OR
    • 6 months special financing, OR
    • Project financing
    Annual Fee$0
    APR**26.99% (fixed)
    Late Feesup to $38

    *See additional explanation below (rules/restrictions apply to all main benefits)
    **Special financing/intro APR rates may apply

    This credit card is best for consumers who shop at Lowe’s often and are responsible cardholders. This means you pay off your balance on time and in full each month. If you don’t, the high APR on this card can get you into some trouble.

    If you don’t shop at Lowe’s often, there are likely a number of other rewards-based credit cards that are worth your while.

    Lowe’s Advantage Card Rewards

    An important point to note right away is that the Lowe’s Advantage card offers either/or benefits: these are not cumulative! Keep this in mind, and we’ll explain more below.

    5% off every day: Cardholders who pay with their Lowe’s Advantage card can earn 5% off their eligible purchase or order. This discount will be taken after all other relevant discounts have been applied.

    HOWEVER, the offer cannot be used with any coupon, Lowe’s low-price guarantee, Lowe’s volume or special discount programs, military discount, employee discount, and in some other specific cases.

    Additionally, the 5% off benefit does NOT apply to gift cards, extended protection/replacement (warranty) plans, shipping/delivery/assembly charges, or fees and taxes. Furthermore, some specific brands are excluded from this discount, so check carefully before you apply for the card to justify a big appliance/brand purchase.

    6 months special financing: On Lowe’s Advantage Card purchases over $299, cardholders are given the option of applying 0% APR to the purchase if the balance is paid in full within the first 6 months. (The 5% off benefit will not apply if this option is selected.)

    If and 6 months are the key words here. If the cardholder is not able to comply, the introductory 0% APR is void and the standard APR of 26.99% will be applied to the balance all the way back to the purchase date — this is called “deferred interest.”

    Bottom Line: This option should only be chosen if a cardholder is confident they can pay off the full balance within the first 6 months. Otherwise, the 26.99% APR applied retroactively can result in some seriously hefty interest fees.

    Hot Tip: In general, the minimum monthly payment due is usually NOT ENOUGH to pay off your balance by the end of the promotional period. This is extremely sneaky – so be sure you’ve calculated your payments correctly and pay more than the minimum when needed.

    Project financing: Lowe’s offers this option to customers because they feel big projects should have more payment options. For Lowe’s Advantage Card purchases over $2,000, cardholders may ask for a special financing option.

    May ask for are the key words here. This special project financing is not automatically applied; it must be requested at the time of purchase. (The 5% off benefit will not apply if this option is requested.)

    Cardholders have the following options:

    • 36 fixed monthly payments at 3.99% APR (until paid in full)
    • 60 fixed monthly payments at 5.99% APR (until paid in full)
    • 84 fixed monthly payments at 7.99% APR (until paid in full)

    Lowe’s states: Each fixed monthly payment will be approximately 2.9520% for 36 months; 1.9328% for 60 months; 1.5581% for 84 months of the initial promo purchase amount and will not be adjusted for merchandise returns, which may result in paying the promo purchase in less than 36, 60 or 84 months. The fixed monthly payment calculated may be higher than the minimum monthly payment that would be required if the purchase was a non-promotional purchase.

    Additionally, this benefit is not applicable to purchases made at Lowes.com.

    The either/or stipulation: Generally, cardholders receive 5% off purchases every day (within restrictions) until they reach a certain purchase amount. When cardholders reach $299 (the minimum purchase amount for 6-month special financing option), they are given a choice between the 5% off OR the special financing option.

    Which is the better choice? That depends. Let’s look at an example.

    Say you want to purchase a new Maytag high-efficiency washer for $600.

    • The 5% off option would yield $30 off your purchase.
    • If you choose the 6-month 0% APR and pay it off in full — congratulations, you’ve stretched out your payments successfully.
    • If you choose the 6-month 0% APR and do not pay it off — your clothes may be clean, but you’ll be in a sticky situation financially.
    SCROLL FOR MORE
    Special Financing, Delinquent Account
    (26.99% APR deferred interest)
    PaymentsBalanceInterest Applied
    Month 1: $50$550$12.38
    Month 2: $75$475$10.69
    Month 3: $75$400$9.00
    Month 4: $50$350$7.88
    Month 5: $75$275$6.19
    Month 6: $100$175$3.94
    Total Interest Fees Accrued$50.08

    In the final example above, you did not pay your balance in full for your new washing machine, so deferred interest was initiated. This means the standard 26.99% APR was applied to the balance for each month, all the way back to the purchase date.

    This adds up to a total of ~$50 in interest fees, or about 12% of the initial cost of your washer. This $50 in accrued interest will then be added to your remaining balance. So what happens next?

    If you do not pay this new remaining balance in full, the standard APR of 26.99% will be applied moving forward since you are now out of the promotional period.

    Bottom Line:Only choose the special financing options if you’re 100% certain you can pay the balance off in full within your 6-month period. Ideally, you’d pay more than the monthly minimum if possible since this amount usually isn’t enough to pay off your balance in full by the end of the promotional period!

    Either/or continued: Again, remember that cardholders who request the special project financing will not receive the 5% off on their >$2,000 purchase.

    Additional Card Features

    The Lowe’s Advantage Card comes with a couple of additional features:

    • $0 annual fee
    • Special promotions
    • Fraud prevention

    Fees & Drawbacks of the Lowe’s Advantage Card

    There are a couple of BIG drawbacks to the Lowe’s Advantage Card.

    As we discussed earlier, the Lowe’s Advantage card has a ridiculously high standard APR (26.99%), and shoppers can get into some serious trouble if they choose special financing options and are not able to pay them off in the allotted time frame.

    Additionally, the Lowe’s card cannot be used anywhere other than Lowe’s and Lowes.com.

    Other notable fees/drawbacks:

    • Late fees can cost up to $38
    • No cash advance option
    • Lack of perks found with other retail credit cards (no free shipping, extended returns, extended warranties, etc.)

    Additional Lowe’s Credit Options

    Lowe’s does have a couple of other credit options specific to businesses, and while we aren’t reviewing them here, you can find more information online.

    • Lowe’s Business Account
    • Lowe’s Accounts Receivable
    • Lowe’s Business Rewards Card from American Express

    Alternative Rewards Credit Cards (Our Recommendations)

    In comparison to the Lowe’s card, the Chase Freedom Unlimited® is very easy to understand and doesn’t have complicated fee’s, rules and conditions.

    Chase Freedom Unlimited®

    Chase Freedom Unlimited®

    U.P. Rating
    The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

    This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!

    Learn More(at Chase's secure site)

    Chase Freedom Unlimited®

    This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
    Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.
    Up to $300 cash back
    $0
    Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
    Good to Excellent (670-850)

    The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.

    When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.

    Pros

    • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
    • 5% back on travel purchased through Chase Ultimate Rewards
    • 3% back on dining and drugstore purchases
    • 1.5% back on all other purchases
    • No annual fee
    • Earn big on travel purchased through Chase Ultimate Rewards
    • Everyday bonus on dining and drugstores
    • Straightforward cash-back on all other purchases
    • Ability to pool points

    Cons

    • 3% foreign transaction fee
    • INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
    • Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
    • After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
    • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
    • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
    • No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
    • Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
    • Member FDIC

    Financial Snapshot

    • Foreign Transaction Fees: None

    Card Categories

    Rewards Center

    Chase Ultimate Rewards

    Alternatively, if you love to travel (or want to travel more) consider the Chase Sapphire Preferred® Card which is one of the best (if not the best) travel rewards cards.

    You will earn 1x at Lowes stores — and 5x points on travel purchased through Chase Ultimate Rewards, 3x points on dining, and 2x points on all other travel purchases.

    POPULAR FIRST CARD
    Chase Sapphire Preferred® Card

    Chase Sapphire Preferred® Card

    U.P. Rating
    The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

    A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.

    Learn More(at Chase's secure site)

    Chase Sapphire Preferred® Card

    A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.
    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
    60,000 points
    $1,200
    $95
    Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
    Good to Excellent (670-850)

    The Chase Sapphire Preferred® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

    Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

    Pros

    • 5x points on all travel booked via the Chase Ultimate Rewards portal
    • 5x points on select Peloton purchases over $150 (through March 31, 2025)
    • 5x points on Lyft purchases (through March 31, 2025)
    • 3x points on dining purchases, online grocery purchases, and select streaming services
    • 2x points on all other travel worldwide
    • $50 annual credit on hotel stays booked through the Chase Ultimate Rewards portal
    • 6 months of complimentary Instacart+ (activate by July 31, 2024), plus up to $15 in statement credits each quarter through July 2024
    • Excellent travel and car rental insurance
    • 10% annual bonus points
    • No foreign transaction fees
    • 1:1 point transfer to leading airline and hotel loyalty programs like United MileagePlus and World of Hyatt

    Cons

    • $95 annual fee
    • No elite benefits like airport lounge access or hotel elite status
    • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
    • Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.
    • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
    • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
    • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
    • Member FDIC

    Financial Snapshot

    • Foreign Transaction Fees: None

    Card Categories

    Rewards Center

    Chase Ultimate Rewards

    These Chase points are extremely valuable when used correctly!

    Applying for the Lowe’s Advantage Card

    You can apply for the Lowe’s Advantage Credit Card in-store or online.

    In general, you’ll likely need a fair credit score to be approved, although those with a slightly lower score have noted approval in the past.

    Upon credit review, some applicants will be approved instantly (this isn’t the only instant approval credit card). However, some applications may need further review resulting in a 7-10 day waiting period. Additionally, applicants should note that the age requirement is 18 years+ to apply.

    Sign-up bonuses/promotions: Lowe’s may offer certain sign-up bonuses when you apply for the Lowe’s Advantage Card. For example, cardholders can currently receive $30.00 off their first in-store purchase. Of course, restrictions apply. In this case, the shopper must apply in-store and utilize the coupon within a certain period or the coupon is forfeited.

    Lowes Credit Card Login & Online Account Management

    If you are a Lowe’s Advantage cardholder, you can sign up/log in here to manage your credit card account. Here are a few options you have within the platform:

    • Pay your bill
    • Monitor your account activity
    • Enroll in e-billing
    • Learn about special offers and promotions

    Final Thoughts

    The Lowe’s Advantage Credit Card could certainly be a money saver if you shop at Lowe’s often and you’re a responsible cardholder. The 5% off every day benefit can come in handy, but pay attention to the fine print as there are some exclusions. As a cardholder, be sure to make wise decisions when you’re presented with the 5% off vs. special financing option.

    If you’re not a frequent shopper at Lowe’s or you have difficulty paying your balance on time, you’re much better off opting for an alternative rewards credit card. Most of these can be used virtually anywhere and offer good benefits with a lower (or 0% in some cases) APR.

    Frequently Asked Questions

    How does a Lowe's credit card work?

    If you are approved for the Lowe’s Advantage Card, you may use it for purchases at Lowe’s or Lowes.com.

    When you make a purchase with the card, a 5% off every day discount is automatically applied after all other relevant discounts. There are of course some exclusions and restrictions.

    For the special financing option (0% APR for 6 months if paid in full), customers must make a minimum purchase of $299. They will be given an option to take the 5% off or the special financing option.

    To use the project financing benefit, customers must request this at the time of purchase. This cannot be combined with the 5% every day discount.

    Can my Lowe's credit card be used anywhere?

    No, your Lowe’s Advantage Card can only be used at Lowe’s and Lowes.com.

    Can I use my Lowe's credit card to purchase gift cards?

    You can use your Lowe’s Advantage Card to purchase gift cards, but the 5% discount does not apply toward this purchase.

    What is the Lowe's Advantage Credit Card interest rate?

    The Lowe’s Advantage Card standard interest rate is 26.99%. However, this may differ if you opt for a special financing option with your purchase.

    Can I pay my Lowe's credit card in the store?

    Yes, you can pay your Lowe’s Advantage Card balance in-store. You can also make payments online and by mail.

    Is a My Lowe's card the same as a Lowe's credit card?

    No, a My Lowe’s card is not the same as a Lowe’s Advantage Credit Card.

    The My Lowe’s card is a tool to help customers manage their home improvement projects.  It goes along with the My Lowe’s online account that allows customers to track their purchases, make lists, set reminders, create a home profile, save address/billing information, and more.

    The My Lowe’s card can be used to view your purchase history online, including purchases made in-store and on Lowes.com. You can scan your card at the register in-store or provide your phone number. These purchases will be added to your online account so you can inventory them or add them to lists and reminders once there.

    Erin Miller's image

    About Erin Miller

    An experienced points hacker, Erin is Alex’s partner-in-crime and contributes to Upgraded Points with in-depth guides and relationship management. Erin’s work has been cited in multiple major publications.

    INSIDERS ONLY: UP PULSE

    Deluxe Travel Provided by UP Pulse

    Get the latest travel tips, crucial news, flight & hotel deal alerts...

    Plus — expert strategies to maximize your points & miles by joining our (free) newsletter.

    We respect your privacy. This site is protected by reCAPTCHA. Google's privacy policy and terms of service apply.

    Deluxe Travel Provided by UP Pulse
    DMCA.com Protection Status