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


Valero has a tiered rebates system. You earn 4¢ per gallon on every gallon purchased when you purchase at least 50 gallons per billing cycle or earn 8¢ per gallon on every gallon purchased when you purchase at least 75 gallons per billing cycle (up to a maximum of 110 gallons). Gas rebates will automatically appear on your monthly billing statement. For more traditional and easy to understand reward options, see general rewards credit cards and especially cash back cards. Those give you simple cash back every time you purchase anything anywhere and rewards are also redeemable everywhere.
If you have an excellent credit there are a lot of credit cards that will bring you more benefits than JCPenney rewards credit card. If you want to save on shopping with a credit card at your favorite stores, you may choose a regular credit card with cash back rewards.
Consider frequent flyer credit cards to earn miles and enjoy air travel benefits. Study the features associated with these credit cards carefully. Hope you will find the credit card right for you.

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There is a credit card for any credit and for any purpose. Whether you want to start building your credit from scratch or earn rewards on purchases, save on gas or travel for free, you can find a good credit card offer for that.