I am renovating my home and I was thinking of filling out the Lowes application and getting their card. Any advice on the matter?

Answered on March 31, 2016
Updated on March 31, 2016
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller
When applying you will be asked to decide which promotion you are interested in. You can either get a 5% discount or special financing for twelve months on a purchase of $299 or more. You can not get both. Also, the everyday discount is not an ongoing discount. The 5% savings is only on the initial purchase when you apply for the card. When doing a home renovation, it is highly doubtful that you would make all the purchases you need at one time. Also the card has a 24.99% APR which is relatively high. If you did not pay the balance in full right away the high APR would quickly negate any discounts. Therefore, I would say it is better to use a traditional credit card that gets rewards. Many cards have rotating categories that earn 5% cash back. In lieu of special financing, consider applying for a card with an introductory 0% APR on purchases.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

User Comments about This Question


You will earn cash back by making purchases at select merchants. These merchants can be found in the Venmo Card section of Venmo app. Earned cash back will be applied to your Venmo account. If you are looking for cash back, we recommend you to apply for cash back credit cards.
For sure, you may choose from different cash back credit cards. You may find there offers with up to 5% cash back, no annual fee, sign-up bonuses and other perks. Pay attention to credit cards with increased cash back bonus categories. For example, if you spend a lot on gas purchases, credit cards with special cash back on gas category may be your choice.
HSBC Cash Rewards Mastercard® credit card comes with the following cash back rewards: 3% introductory cash back on all purchases in the first 12 months from account opening, up to the first $10,000 in purchases. Get 1.5 cash rewards on every $1 you spend on all new, net purchases after the intro period. If you want to earn more, you may consider other cash back credit cards.

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