For millions of people, Lowes is a favorite store. This home improvement retailer sells virtually anything imaginable for the home, as well as materials and supplies for builders. Whether wanting to buy a new light fixture, flooring, bathtub, paint, wallpaper, appliances, barbecue grills, light bulbs, potting soil, and much more, Lowes has it all. Because this is such an incredible store and prices are very affordable, many people prefer to secure a Lowes credit card.
The great thing about a Lowes credit card is that the company offers a card for everyday consumers, homeowners who need to make repairs or want to complete updates or renovation projects, but also a card for the business side, which would include contractors such as electricians, plumbers, homebuilders, etc. Regardless of type, the Lowes credit card is set up as a line of credit from which purchases would be deducted.
You will also find that for a personal and business Lowes credit card, several different options are available. First, if you are a homeowner and simply want a credit card so you can shop for things needed for the one, you could choose from two different lines of credit. The first Lowes credit card is a standard card with a line of credit whereas the second card is the “Project Card.” Both of these cards come without an annual fee, they offer online card management, and these cards can be used at Lowes stores online and anywhere in the country.
If you decide to go with the standard Lowes credit card, you would have a minimum monthly payment that equals 1/35th the outstanding balance. With this card, to open the account, no initial qualification purchase is required. In addition, the standard Lowes credit card has a set Annual Percentage Rate of 21.99%, the amount of credit line would depend on your qualifications, which includes monthly gross income, but also your current credit score, and for having this card, you would have access to incredible discounts and exclusive offers.
Next, the second Lowes credit card, which is the Project Card, is also loaded with features and benefits. In this case, the card is set up to make larger projects around the home easier to complete. With this Lowes credit card, all the necessary purchases for your project could be made over a six-month period. That means during these six months, you would not be required to make a payment on the card but you would also not be charged accrued interest. Of course, this Lowes credit card has many additional benefits for you to enjoy.
For starters, the Project Card offers low interest rates and in fact, most would start at just 7.99% but there are qualifying factors involved. Depending on your income and credit score, you could end up paying as much as 17.99% on this Lowes credit card. Now, unlike the standard card where no qualifying purchase is required, the Project Card does require a minimum of $1,000 be spent to open the account. Now, one of the popular benefits for this card is that payments are fixed according to the line of credit. Therefore, on the larger ticket items, you would have anywhere from four to ten years to pay the balance off. Finally, the lines of credit for this Lowes credit card are up to $30,000.
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