Credit Cards » Credit Card Education » FAQs: Сredit cards for Lowe’s Shopping
Is the Lowe's credit card the best pick for me if I am planning a home improvement project?
Answered by Vanessa Watson, expert at CreditCardFlyers.com:

It pays to actually compare store cards with traditional credit cards to see where you get the best benefits. Let’s get started by looking at two cards from Lowe's.

Lowe´s Project Card
Lowe´s Project Card
With this card, you can choose special financing on big-ticket items or 5% off on your purchase once you’re approved. If you choose the 5% discount, keep in mind that you can't use it with other kinds of Lowe’s discounts including coupons, military discounts, employee discounts or the retailer’s low-price guarantee. All of this makes this sign-up bonus less lucrative.

Instead of getting the 5% discount, you can choose to pay 0% interest on purchases of $299 or more for six months. However, the usual interest rate for this card is 24.99%, which kicks in after the promotion period ends.
The real deal

These cards offer benefits similar to other store cards, but it’s important to look at the fine print and what they actually offer. There can be some very real cons to signing up for store cards. A more traditional credit card may actually give you more in terms of benefits and rewards. In this case the exclusions for discounts put a damper on savings, high interest rates after the promotional period is over can be an issue later on, and you do not earn rewards.

With store cards you can’t usually use them to shop elsewhere, and you don’t earn rewards, which is a real downside. Credit cards that offer rewards programs are a great way to earn rewards that can be cashed in for everything from cashback and merchandise to flights and hotel stays.

BuyPower Card from Capital One® - Get The Card That Helps You Get The Car
For Excellent / Good Credit
BuyPower Card from Capital One® - Get The Card That Helps You Get The Car

0% Intro APR on Purchases: 12 months

Ongoing APR: 11.9% - 19.9% (Variable)

Rewards Program:

  • 5% Earnings on your first $5,000 in purchases every year.
  • Unlimited 2% Earnings on every purchase after that.
  • Redeem Earnings toward the purchase or lease of a new Chevrolet, Buick, GMC or Cadillac vehicle.
  • Save even more when you combine your available Earnings with most current GM offers and incentives.
Credit One Bank® Credit Card with Gas Rewards
For Fair Credit
Credit One Bank® Credit Card with Gas Rewards

Ongoing APR: 17.90% - 23.90% (Variable)*

Rewards Program:

  • Unlimited 1% cash back gas rewards.
  • Rewards post to your account automatically each month.
  • Get Pre-Qualified without affecting your credit score.
  • Automatic reviews for credit line increase opportunities.
  • Zero fraud liability protects you from unauthorized charges.
Capital One® QuicksilverOne® Cash Rewards Credit Card
For Average / Fair / Limited Credit
Capital One® QuicksilverOne® Cash Rewards Credit Card

0% Intro APR on Purchases: until April 2016

Ongoing APR: 22.9% (Variable)

Rewards Program:

  • Earn unlimited 1.5% cash back on every purchase, every day.
  • No rotating categories or sign ups needed to earn cash rewards; plus, cash back doesn′t expire and there′s no limit to how much you can earn.
Surge MasterCard® Credit Card
For Bad / No Credit
Surge MasterCard® Credit Card

Ongoing APR: 29.99% (V)

Journey® Student Rewards from Capital One®
For Average / Fair / Limited Credit
Journey® Student Rewards from Capital One®

Ongoing APR: 19.8% (Variable)

Rewards Program:

  • Earn 1% cash back on all purchases, plus a 25% bonus on the cash back you earn each month you pay on time, for a total of 1.25% cash back
  • There′s no limit to the amount of cash back you can earn, and rewards don′t expire.
Milestone Gold MasterCard®
For Fair / Good Credit
Milestone Gold MasterCard®

Ongoing APR: 23.9%

So yes, you can use either of the Lowe's credit cards to finance a project, but rewards earning credit cards, which offer low APR's or no APR for a promotional period, can get you more bang for your buck. This way maybe you can get that home improvement project done and have enough points to book a flight to an exotic destination.

About the expert:
Vanessa Watson, 35
financial expert at CreditCardFlyers.com
I love frugal shopping. As a credit expert, I
want to share my experience with other
people.
Have questions?

* See Card Terms & Conditions for Details.

Best Credit Cards:
BuyPower Card from Capital One® - Get The Card That Helps You Get The Car BuyPower Card from Capital One® - Get The Card That Helps You Get The Car
Key Feature:
5% Earnings on your first $5,000 in purchases every year
For Excellent / Good Credit
Credit One Bank® Credit Card with Gas Rewards Credit One Bank® Credit Card with Gas Rewards
Key Feature:
Unlimited 1% cash back gas rewards
For Fair Credit
Capital One® QuicksilverOne® Cash Rewards Credit Card Capital One® QuicksilverOne® Cash Rewards Credit Card
0% Intro APR on Purchases:
until April 2016
For Average / Fair / Limited Credit