mylowe's Rewards, New Changes to the Lowe's Card Program

[ptatohed]

I received this e-mail yesterday.  It looks like the Lowe's advantage card is becoming the mylowe's Rewards card.  Starting March 7, 2024.  No action needed.

When I first started reading and saw the new points rewards, I thought for sure the everyday 5% was toast.  But, nope, the program appears to still offer the 5% in addition to the new points.  Unless I'm not reading it correctly?

• I could not find where it stated how many MyLowe's Money points you earn per dollar spent.  If it's 10 points per $1 spent, then that would be 5% with 1,000 points of mylowe's Rewards points being worth $5.  Which I can't imagine that would be in addition to the current 5%.  Ok, so I found this (Terms) and it's a confusing system earning 1 to 1.5 points per dollar spent depending on your tiered status.  So, we're talking about 0.625% back using the middle tier of 1.25 points per dollar.  Not very impressive but as long as it doesn't replace the 5%, I'll take any little extra.  They say there might be other point earning offers from time to time.

• I could not find out how you redeem your MyLowe's Money other than the email's "MyLowe’s Money can be redeemed during the stated redemption window.....:".  What is a stated redemption window?  But reading the terms, you will be issued $5 in MyLowe's Money for a future purchase every time you reach 1,000 points (average $800 spend, give or take depending on your tier).  

• This is where I am getting confused.  This site says the Lowe's advantage is becoming the myLowe's Rewards.  But the more I read the e-mail and the terms, the more it seems to me like the card stays as the Lowe's advantage and the myLowe's Rewards is just a program added to the advantage?  The wording in the e-mail states that Lowe's Advantage cardholders get 5%, not myLowe's rewards cardholders get 5%.  It also says advantage cardholders start at the middle Silver tier, so is this some kind of grandfather thing for existing advantage cardholders? 

It's late and I am tired of reading fine print.  Maybe you guys will have some good information and answers.    

We've updated our account terms and conditions. View email as a webpage.

Hello,  

We are excited to announce MyLowe’s Rewards, a new way to save and earn rewards by shopping at Lowe’s! As a current Lowes.com account holder, you will be automatically enrolled into the new program1.

MyLowe’s Rewards benefits include2:

• Earn points toward MyLowe’s Money
  1,000 points = $5 reward
• FREE member gifts
• FREE standard shipping starting with Silver Key status
  (Not available in Alaska & Hawaii.)

Lowe’s Advantage Card holders get more! Credit cardholders will save 5%† on eligible purchases every day and can unlock free MyLowe’s Rewards loyalty program Silver Key status, which allows them to earn more points and gives them free standard shipping benefits ‡.

As a part of the launch, we would like to make you aware of changes we have made to our account terms and conditions to reflect information around eligibility and how to receive and use benefits.

Additionally, starting on March 7, 2024, the MyLowe’s keyfob card will no longer work to track your in-store purchases. In order to continue tracking all of your in-store purchases after March 7, 2024, please scan your Member ID, Wallet Scan to Pay, or provide the phone number associated with your account.

You can review our updated terms here: Lowes.com/Terms.

Thank you.

[coldfusion]

As a reminder, existing Lowe's cardholders were notified in January that changes were coming to their store card issued by Synchrony including a change in perks and a reissue of new cards to all cardholders.   New cards are being delivered today.

Here's a synopsis of the new program.  You do still get 5% off for using the card.  https://www.lowes.com/l/about/mylowes-rewards

[CorpCrMgr1]

Thank you for sharing the info!

[ptatohed]

Thanks cf.  Last week I started a thread about the card and an e-mail I received in late Feb.............  and it got crickets, lol.  

[coldfusion]

It happens sometimes.   At least you tried ;-)

[Zoostation1]

I don't have the card, but good to know since my dad does so I'll pass it on to him.

[UncleB]

Thanks for the update!

The info on the site is a bit confusing... they make it look like folks who have a Lowe's credit card are automatically at Silver status ("Credit Cardholders and Verified Military Members start here"), but that doesn't seem to the case, at least for me (I'm at bronze).  🤔

[FlaDude]

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@UncleB wrote:

Thanks for the update!

The info on the site is a bit confusing... they make it look like folks who have a Lowe's credit card are automatically at Silver status ("Credit Cardholders and Verified Military Members start here"), but that doesn't seem to the case, at least for me (I'm at bronze).  🤔

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Same here, it looks like I should be Silver for having the card but am showing as bronze with another $300 spend to hit Silver. I did see a footnote that "may require adding Lowes card to digital wallet", but when I check my wallet the card is already there.

I recently moved and there is an HD nearby, and Lowes isn't so I don't get there too often anymore and probably won't bother chasing it down.

[moto4man]

This works out well if your a contractor or GC footing the bill for materials.

[UncleB]

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@UncleB wrote:

Thanks for the update!

The info on the site is a bit confusing... they make it look like folks who have a Lowe's credit card are automatically at Silver status ("Credit Cardholders and Verified Military Members start here"), but that doesn't seem to the case, at least for me (I'm at bronze).  🤔

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I have an update on this...

My new card came in the mail today (not requested, sent automatically).  I activated it, then checked my Lowe's dashboard and I was still at "bronze" status. 🤔 So I deleted the card from my profile and signed out completely.  Then I signed back in and added the card back to my profile as a payment method, and lo-and-behold, "silver" status was achieved.

I'm surprised they didn't code the website to care for those of us who are already have a Lowe's card, but it was easy enough to remedy.  Of course, I'm sure there will be people who won't think (or bother) to remove then re-add the card, which is a shame.  (Silver status is useful since it gets you free standard shipping, which is especially helpful to me since I no longer live near a Lowe's.)