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If Lowe’s is your go-to stop for home supplies, the MyLowe’s Rewards Credit Card* can net you a nice discount at the box store every day.
Why We Like It
The card offers a 5% discount on every eligible purchase with the retailer, with no limit to how much you can save. Purchases of $299 qualify for six-month financing, with no interest charged if the purchase is paid in full within the promotional period. But unlike a traditional 0% intro APR offer, this is a deferred interest promotion. Interest will be charged from the purchase date if you’re unable to pay it off within the promotional period.
For purchases of $2,000 or more, cardholders can split their purchase into 84 fixed monthly payments at a reduced APR. In addition to these standard options, Lowe’s has been known to offer limited-time discounts and financing promotions to new accounts or for specific products and services.
The card also comes with automatic Silver Key loyalty status, which qualifies you for free standard shipping on Lowes.com purchases, as well as exclusive offers and free member gifts.
What We Don’t Like
As a closed-loop card, the MyLowe’s Rewards Credit Card can’t be used anywhere else. Additionally, the card doesn’t allow you to get a discount and simultaneously take advantage of promotional financing.
While there is a welcome offer, the discount is only valid on a single purchase, and it’s limited to $100, which is lower than most of our other choices.
Who It’s Best For
People who exclusively shop at Lowe’s for home improvement needs will want to consider this card for its specific home improvement use case.