We all agree that Credit cards such as Lowes Credit Card can come in handy when you want to make savings. You can also use them to buy urgent stuff when you do not have cash at hand. The only thing that most of cannot agree on is which is the best credit card from the numerous choices that exist today.
It could be because they do not all have the same exact benefits. Instead, each card issuer chooses to focus on a particular niche market. That is why it is important to know all the benefits that a particular card offers its users. Read on to learn more about 10 Benefits of Having a Lowes Credit Card.
No Interest Charges
The Lowes Credit Card provides its users with a revolving line of credit. Users can therefore enjoy buying items at discounted prices from its store without paying any interest for using Lowe’s card. All they have to do is make sure they clear the balance by the end of the month. If you are sure of getting your money at the end of the month, this credit card will help you buy what you need from Lowe’s store without waiting till the end of the month.
Easy to Apply
You will be happy to know that the card’s approval only takes a few minutes to come through. Once it is approved, you can start using it immediately to buy stuff from Lowe’s physical store or on its website. For those who just got a job and need to buy a few urgent home appliances, the fast approval and activation means you get to start your work life with ease. Moreover, you will not have to get an loan charging a high interest rate simply to buy a few home improvement items.
When you buy an item from Lowe using the credit card, they give you a 5% discount on all purchases. That may seem as not being much but over time, you get to save hundreds of dollars. Moreover, since a dollar saved is a dollar earned, the Lowes Credit Card allows you to earn 5% of what you spend in their store.
0% Interest for Six Months
Instead of going for the 5% off discount, you may also choose to take the 0% interest for six months when you spend $299 and above. That arrangement allows you to spend money as if you are using your savings. Instead of saving for up to six months for that appliance, you need urgently, buy it with the Lowe’s card. You will then pay the minimum payments without fail each month until you clear the balance.
Huge Savings for Home Renovations
The Lowes Credit Card offers a special financing rate running for 36, 60, or 84 months that requires payment of fixed monthly payments. The monthly payments incur a reduced Annual Percentage Rate of 3.99%, 5.99%, and 7.99% respectively. You may use these rates for projects such as a do-it-yourself home-renovation and save some cash.
No Annual fee
As long as you make your monthly payments on time to clear your outstanding balance, you don’t have to worry about paying extra cash in annual fee just for owning the card.
Avoid 26.99% APR
The annual percentage rate of 24.99% will only kick in if you miss paying the minimum monthly payments. With proper planning, you can avoid paying it altogether.
Special Financing Rates
You can choose between the regular purchase rates or special financing rates. That allows you to use the Lowe’s card to get credit that is less punishing compared to others sources of borrowing.
You may take advantage of rotating promotions to shop when you will get the most out of your card. Of course, that is for those times when you want to buy something you have been putting off for a while. Otherwise, the special refinancing options may be what you need to buy the big-ticket items without cash at hand, and still save money.
You can only use the Lowe’s credit card to buy items from Lowe’s stores. That gives you additional protection in case someone steals your credit information and tries to use it elsewhere else.