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Lowes Card Questions

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Frequent Contributor

Lowes Card Questions

Hey everyone.

 

Ive been looking at the Lowes card and sorting through they're special finance stuff. I've been trying to find out how it works and the information is very limited. So if anyone can explain to me their 2 special finance offers and how they work.

 

1st one is 6 months special financing on purchases over $299.

 

So my questions are does this happen automatically?

Do you mention it at the register?

If you purchase online how do you take adavantage of this offer?

Do you apply this on your account online when you make a purchase over $299?

If you make a multiple purchases over $299, can you add them all together to join this offer?

 

2nd is pretty much the same but of their 84 month fixed monthly payments of over $2,000.

 

Here the website says "subject to credit approval" So they pull another credit check even if you have the card? Or is this a new application?

When you have the card you have this option at anytime you purchase over $2,000?

Just like the other offer, how do you apply it? (at register, online when making purchases, or online account management)

Can you combine things to get the offer? ie. $1,000 purchase yesterday $1,000 today.

 

Sorry for the bombardment of questions, but I'm trying to educate myself prior to getting this card and the information is pretty limited. Finally, just for confirmation it's backed by Synchrony and is a TU pull, correct?

 




Discover 22K ---------------------------- Credit Union MC 12K
Cap1 QS 10K ---------------------------- Barclay 3.4K
AMEX Blue Cash AU 15.5K ------ Barclay Apple AU 10K
AMEX BCP 22K
2 Installment loans:
Auto 15K / 39K ---------- Auto 28K / 39K
Vantage 3.0: TU:738 EQ: 737 03-17-2020
Ch. 7 DC 12/2014
Message 1 of 14
13 REPLIES 13
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Epic Contributor

Re: Lowes Card Questions

I think any purchase over $299 are automaticaly added to "special financing:

 

Say $299 today,

 

$299 next week  ... $299 in two weeks should all be lumped together.

 

Lowe's Advantage Credit Card

Applying for the Lowe's Advantage Credit Card is quick and easy. You can choose 5% off eligible purchases or orders when you charge to your Lowe's account using your Advantage Card or take advantage of six months special financing on qualifying purchases of $299 or more. And when you use your Advantage Card for purchases of $2,000 or more, you can choose 84 fixed monthly payments at reduced APR financing.

 

Also:

https://www.lowes.com/l/Credit/10-off-new-account-promo-tandc.html

 

Edited to add: May be a little more to it?

EVERYDAY CREDIT FINANCING PROMOTION DETAILS: Special Financing and discount offers can't be combined. If your purchase or order is over the minimum purchase required, you will be asked to select the offer you would like. We reserve the right to discontinue or alter the terms of these offers any time.

 

Message 2 of 14
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Valued Contributor

Re: Lowes Card Questions

Not sure exactly how it works but its possible you get to choose your option (5% off or special financing), if the amount qualifies for the financing ($299+), at the register. I'm not positive, but if you have a smaller amount (<$299), the 5% automatically is applied.

 

As soon as the economy opens up, I have a couple larger Lowe's purchases I need to make for home installation and might be able to find that out for sure. It won't help you now, but it makes sense in that it has to happen at the register, because that's the only way to get the 5% off. You would have to decline the 5% in order to get the special financing, and that choice to decline would be at the register.

Scores, HPs/24 mos. (updated 10/09/20):
    Experian FICO Score 8 = 825, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 815, 1/24
    Equifax = 819, 0/24

Total 2019 rewards, incl. offers/deals = $1,709.07
Avg. rewards rate, incl. offers/deals = 3.92%

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 3 of 14
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Epic Contributor

Re: Lowes Card Questions

 

And 10% if you fit the new card guidelines...

 

Message 4 of 14
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Community Leader
Senior Contributor

Re: Lowes Card Questions

I made a $700ish purchase of a stove and microwave last summer. I was in the store and they asked if I wanted to financing offer or the 5% off. 



Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | PenFed PCR | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | 2017 Audi A6 Prestige S-Line





TCL $85,100| Agg. Util under 5%
Message 5 of 14
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Valued Contributor

Re: Lowes Card Questions


@ImTheDevil wrote:

I made a $700ish purchase of a stove and microwave last summer. I was in the store and they asked if I wanted to financing offer or the 5% off. 


That's what I figured would happen. 

Scores, HPs/24 mos. (updated 10/09/20):
    Experian FICO Score 8 = 825, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 815, 1/24
    Equifax = 819, 0/24

Total 2019 rewards, incl. offers/deals = $1,709.07
Avg. rewards rate, incl. offers/deals = 3.92%

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 6 of 14
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Valued Contributor

Re: Lowes Card Questions

You have option of 6 months or 5% off.

The also run promos for 12, 18, 24 months with 0%.

The entire balance MUST be paid during the promo or you will get billed for interest SINCE DAY ONE.

 

The 60, 72, 84 month promos are for large purchases at fixed rates (like 5.99-7.99%).

They should not require a credit check.

Basically an option similar to HELOC for kitchen remodel, etc.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2020.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship & Syncrony






Message 7 of 14
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Valued Member

Re: Lowes Card Questions

This is exactly how it works. Very nice not paying the interest. Each invoice/receipt shows up as a separate line item on your monthly statement, with the deferred interest details listed for each purchase. Typically, the due date is assigned by statement date, not the exact date 6 months from purchase. So, if you make multiple purchases during a month/statement period, they all list the same due day in the statement period 6 months distant.

 


@Shooting-For-800 wrote:

You have option of 6 months or 5% off.

The also run promos for 12, 18, 24 months with 0%.

The entire balance MUST be paid during the promo or you will get billed for interest SINCE DAY ONE.

 

The 60, 72, 84 month promos are for large purchases at fixed rates (like 5.99-7.99%).

They should not require a credit check.

Basically an option similar to HELOC for kitchen remodel, etc.


 

Message 8 of 14
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Contributor

Re: Lowes Card Questions

You will be asked at the time of purchase and my last 2 purchases that where just over $300 both had 2 options. 5% off or deferred interest for 12 months. I thought I would only get 6 months deferred interest but the only choice was 12 months, which I took.

Message 9 of 14
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Moderator

Re: Lowes Card Questions

@NotYou007 is right. You pick at the register. Nothing is done automatically. They just finished a 24 month financing promo about a week ago and they seem to run them at least once every quarter if not more often.

I hands down love Lowe’s. As I’ve said before, I’d be willing to part with a many of other cards that I have before I give up my Lowe’s card.
Message 10 of 14
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