When used properly, the Lowe's Advantage Card* from Synchrony Bank can be a significant money saver. Customers planning expensive home improvement projects and having a Lowe's conveniently located nearby may benefit significantly from the 5% discount. However, if you open a new account before January 31, 2023, you'll receive a discount of 20% on your first purchase—instead of a usual welcome gift. There may be a reduction of $100. No in-store installation purchases are eligible for this offer.

Low 0% interest for 84 months on purchases above $2,000 with no prepayment penalty. These loan options are more equivalent to installment loans in practice. If handled appropriately, the special financing offer might be pretty helpful. You'll need to make at least the minimum payment every month, but that might not be enough to pay off the loan in full within the grace period of six months.

If the loan is not paid in full, even by a tiny amount, interest is levied on the entire amount from the initial purchase date, which could result in a considerable cost.

Double-Cash Card from Citi

The Lowe's Advantage Card* is a store card that may only be used at Lowe's and is not linked to any significant networks (like Visa or Mastercard). Most people would do well to have a single card that can be used everywhere to pay for necessities like food and gas. You probably have more than one credit card in your wallet, but the Lowe's card is for a specific purpose and serves as a backup.

Be on the lookout for special cardholder promotion days, which often provide 10% off all purchases, and use your card on those days to save even more. Are you still looking? Check out the options provided by our Affiliates.

Compare and Contrast: The Lowe's Advantage Card

A Comparison of the Lowe's Advantage Card* and the Home Depot Consumer Credit Card* It can only be used at Home Depot, but anyone may apply for and get the Home Depot Consumer Credit Card*. There are no ongoing savings or bonuses offered. The prolonged return policy of a year is a significant plus. The Home Depot credit card, like the Lowe's credit card, requires only fair credit and has no annual fee.

Like Lowe's card, the Home Depot card offers a six-month financing option with deferred interest if the purchase is not paid up in full within that time frame. Once in a while, cardholders can take advantage of unique financing options.

If both Home Depot and Lowe's are convenient and carry the things you need, the Lowe's card is the better option because of its 5% discount.

Walmart Reward Card* vs. Lowe's Advantage Card*

Walmart isn't specifically a hardware shop, but it does include a sizable home improvement section with things like paint, lighting, and tools. And, of course, all of Walmart's stores stock a vast array of grocery items and other necessities.

Those with good credit or better can apply for a store card that offers nearly the same perks as its more prestigious sibling, Capital One. The Walmart Rewards Card* is more of a general-purpose card due to the variety of products sold at Walmart, Sam's Club, and Murphy's USA petrol stations.

The Walmart Rewards Card* stands out from other store credit cards due to its generous rewards program, which is especially appealing during the first year of card membership. To celebrate the launch of Walmart Pay, cardholders will receive 5% cash back on all purchases made at Walmart for the first year.

Cash back at restaurants and 1% on trips booked via Sam's Club. If you regularly buy things from Walmart and Sam's Club, this might save you a lot of money. Infinite potential for reward. The card also does not charge an annual fee.

Do You Deserve a Lowe's, Advantage Card?

The Lowe's Advantage Card has a narrow range of applications. Due to its restrictions, it cannot (and should not) replace your primary payment method. Most consumers would be best served by carrying a credit card, such as a Visa, Mastercard, or American Express, which many retailers accept. If your credit is decent, you might want to apply for the Alliant Visa Platinum Rewards.

The Lowe's Advantage Card's 5% discount isn't much, but it more than pays itself if you plan any significant home improvements or replace your kitchen appliances.

The Lowe's Advantage Card is another fast way to get the money you need for a large project if you have a good credit score. However, this option may be more expensive than a personal loan or a home equity line of credit. Credit card financing offers may not be the lowest option, so comparing them with other financing options is essential.