Lowe's Advantage Card Review
Written by
Thomas Donaldson
Tanza Loudenback is a CFP® certificant, writer, and editor. From 2015 to 2021, she was a top-read author and editor at Business Insider. Her work focuses on helping people make smart decisions with their money and is published by a variety of online publications. Full Bio
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You’ve done it. You’ve purchased your first home! The problem is you now need to get on fixing it up to make it into your dream home. And all those home projects mean a trip or two (…or five) to Lowe’s to get what you need. Whether you’re making those upgrades all at once or over time, it may make sense for you to get a Lowe’s credit card to make all those purchases.
But not sure if it’s the right card for all your DIY? Well, our experts have done the research for you! Check out our Lowe’s credit card review below:
Lowe’s Advantage Card Benefits Offered To You
- Lowe’s 5% Discount – With the Lowe’s Advantage Card, you receive 5% on all eligible purchases online and in-store. There are few exceptions (extended warranties, gift cards, etc.). But for the most part, anything you buy at Lowe’s for your next home renovation will be discounted.
- Introductory Discount & Member Perks – When you sign up, Lowe’s will send you a coupon for 20% off your first purchase (max. $100 off) after being approved. The cardholder perks don’t stop there. Be on the lookout for other deals and special cardholder events throughout the year.
Lowe’s Advantage Card Drawbacks
- No-Intro APR Offer & High-Interest Charges– The card offers a 26.99% variable APR, which is higher than similar cards. Although there are deferred payment options for large purchases, if you don’t make those payments on time, you are hit with some pretty hefty fees.
- Lowe’s Exclusive Spending – This is a closed-loop credit card that can only be used to make purchases at Lowes.com and Lowe's retail stores.. So if you’re looking for a card for home renovations and other things, this isn’t the card for you.
- Limited Rewards – Beyond the 5% discount on eligible purchases, this card doesn’t offer any rewards like cash back or reward points.
Our Final Recommendation for Best Credit Card for You
If you exclusively do your home renovation shopping at Lowe’s or it’s the only hardware store near you, then this card’s offered 5% discount is great. And we think you’ll be very happy with your choice. But if you’re looking for some more rewards, or like to mix up where you shop, we think you may be happier with a different card.
Disclaimer: All information in this article regarding the Lowe's Advantage Card is accurate as of publishing date, but may have since changed. When considering and applying for a new credit card, please review the most up to date Terms & Conditions on the credit card issuer website.
Compare the Lowe’s Advantage Card to Some of Our Favorites
If you’re looking for a more robust rewards program or a card that offers no-interest intro offers to make a large purchase when you get the card, we think you may enjoy some of these alternates:
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