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Hey i’m adam jusko and this is strictly Credit cards where we talk about Strictly Credit cards subscribe why don’t you in This video we are going to look at the Lowe’s credit cards lowe’s offers a Consumer credit card and a number Of business credit cards all of which Give you Discounts and potentially special Financing so we’re gonna look at each One of these cards and see if any of Them Might be right for you so let’s look First at that consumer card it is called The lowe’s advantage card it’s a no Annual fee card You should know up front that it is only Accepted at low so you can’t use it Outside of low something to take into Consideration Now in addition to giving you the Obvious ability to buy things on Credit at lowe’s the card does give you Your sort of Choice of discounts or special financing So You can choose to and this is probably The most appealing to the most people Get five percent off all of your Lowe’s purchases when you use the lowe’s Advantage card so basically everything You buy you’re just gonna get Five percent off of it when you use the

Card which makes it kind of a no-brainer If you shop at lowe’s with any Regularity because if you don’t have the Card Everybody else is getting five percent Off that does have the card and You are not now there are some Exceptions here you don’t get five Percent off gift cards you don’t get Five percent off weber products and There’s some other Brands as well or if you’re getting Special discounts already through lows You may not get the five percent off so There’s some fine print that goes along With that but for most people you’re Gonna get five Percent off of your lowe’s purchases now You could opt instead of the five Percent For special financing if you make Purchases of 299 Or more you could choose to have special Financing of Zero percent for six months so you have To pay off your purchase within six Months in order to keep That zero percent interest rate or if You made a very Large purchase you could use special Financing that gives you a 7.99 Interest rate at least as i am making This video and that could be stretched Out as long as

84 months so 2 000 or more you could get That 7.99 Financing for up to 84 months and then Sometimes there are going to be some Other special financing offers but you Do have to choose you either take the Five percent off or you take one of the Special financing offers You don’t get both now a couple notes Here as we talk about special financing And the regular interest rate On this card that zero percent for six Months Offer that i mentioned on purchases of 299 or more you will get that zero Percent rate you won’t have to pay any Interest as long as you pay off Every penny within that six month period If you Leave any balance on from whatever that Purchase was Well basically the deal is off this is Called deferred financing If you don’t pay off every penny within That six month period Well then they charge you all of the Interest from the date of purchase As if that deal had never existed and The regular interest rate on this card At least as i make this video Is 26.99 so all of a sudden if you Haven’t paid off Every penny you’re going to get charged As if you were being charged 26.99

Interest from the day of purchase so Obviously that Is not desirable the other thing to know Is That even if you’re getting five percent Off with a 26.99 Interest rate you’re obviously not going To want to carry a balance with this Card because Even with a five percent discount you Probably will end up paying more In interest with this card if you are Carrying a balance from month to month Than you got With that five percent discount and then A couple final points on the lowe’s Advantage card on the day that you are Approved you will get a 20 Discount on purchases made on that day Up to a maximum Of a 100 discount so you could spend up To 500 with the card and get a 20 discount On all of those purchases Up to a maximum of 100 Now this card is issued by synchrony Bank so if you are thinking about Whether You are likely or not likely to get Approved for this card synchrony bank Is known to be a little easier on Approval so if you have sort of a Borderline credit score if you’re Sitting somewhere in the 600s

Synchrony bank is going to be more Likely to approve approve you Than a lot of the other big banks were So this is a store only card issued by Synchrony bank And so most people are probably going to Get approved for this card unless you Really have A bad track record using credit so Overall if you shop at lowe’s with any Regularity this card is going to make Sense for you because it is going to Give you five percent off everything That you buy at lowe’s unless you choose Special financing On some bigger purchases which also is a Nice perk to have in certain situations So there’s certainly no downside here Like i said earlier If you don’t get the card and you shop At lowe’s with any regularity then You’re paying five percent more than Everybody else who is using the card Now let’s look at the lowe’s business Cards there are multiple lows business Cards each one targeting sort of a Different slice of the potential Business market for sort of individuals Or Smaller scale operations probably the Best card or the one that you would Choose would be The lowes business rewards american Express card this is a card that doesn’t

Have Any annual fee it’s going to give you That five percent discount on all of Your lowe’s purchases just like the Advantage card and you also get some Rewards some reward Points that you can use toward lowe’s Gift cards or american express gift Cards so you’re gonna get Three points per dollar on restaurant Purchases office supply purchases uh Wireless telephone purchases two points Per dollar at lowe’s one point per Dollar Everywhere else and then there there is A 100 Bonus opportunity for new card holders You’ll actually get Five points per dollar on those Purchases for the first Six months i believe it is as a new card Holder so a lot of different Stuff going on here with this card the Five percent off at lowe’s but also the Ability To earn some points and get some rewards In the form of Gift cards from lowe’s or american Express This card lets you pay your full balance Each month or you can revolve a balance Meaning that you can pay off part of Your balance And let the other part revolve to the

Next month or go Over into the next month in which case You would pay interest so you’d rather Not do that if you can Avoid it now you do have a zero percent Interest rate for the first six months With this card so for those first six Months it’s not that big deal That big of a deal to revolve a balance But after that you are going to have an Interest rate anywhere from 15.74 To 24.74 and depending on what your Credit history Is and where you would fall in that Interest rate range that 20 plus percent in particular end of the Range Not a place where you want to be paying Interest on your purchases so that’s the Lowe’s rewards card accepted at lowe’s And anywhere else american express is Accepted It’s the cards sort of targeted towards Smaller businesses although any business Potentially Could go after it these next cards Probably geared more toward Larger businesses that want to have Multiple cards perhaps for Multiple employees and have some Different terms One of those terms is that the other Business cards are only going to be good At low so you can’t use them outside

Lows the first is The lowe’s business advantage card no Annual fee you’ll get that same Five percent off on your lowe’s Purchases with this card In terms of financing with this card the Purchases that you make You can get 60 days to pay them off Without Paying interest so you can revolve your Balances but you have a full 60 days to actually pay off that balance Before you would get charged interest Now that interest rate Is 21.99 as i make this video so if you Still haven’t paid off A particular purchase within 60 days Well then you are going to get charged Some interest you have to sign up for The lows for Pros loyalty program and register your Card with it in order to get all the Sort of perks of this card now you can Have multiple Cards if you have multiple employees With this card On the day that you are approved for the First card you will get a 20 Discount on your lowe’s purchases on That day but you do have to ask for it So If you know they don’t tell you you Might go away and not get your 20 So make sure you know that it’s very

Weird for whatever reason they tell you On their website you have to ask for Your 20 discount on the day that you are Approved for the card maybe that’s to Kind of cover their butt a little bit in Case they forget to give it to you but Make sure you understand that that Is supposed to be part of the deal and Then there is the lowe’s commercial Account which isn’t a whole lot Different than that business advantage Card except for You have to completely pay off your Balance with that card Every other month so it’s kind of Interesting usually when you have a Charge card you have to pay it off in Full each month This one allows you to pay it off in Full every other month Other than that kind of the same deal You’re getting five percent off on your Lowe’s purchases you have to be part of The Lows for pros program and register with The card in order to make sure you get All the perks with this card you can Have multiple cards I think there’s a little more reporting In terms of you know Skus and all that kind of stuff when you Are Getting the report of everything that You purchase you can have multiple cards

All that kind of stuff so geared maybe a Little bit more to Larger companies but it’s really sort of Just a different animal in terms of What you want to have when you make your Payment do you want to revolve Like with that business advantage card Or do you want to make sure that there’s No way that you can revolve the balance And pay it off every other month and Then finally there’s one more card from Lowe’s it is actually not a credit card It is a prepaid Debit card so it is called the lowe’s Preload discover card You can have one or more cards that you Put A certain amount on and you can give Them to your employees to use up to That amount you could even give them to Subcontractors potentially To use to make purchases at lowe’s the Nice thing about it is versus just only Being a debit card is That when it is used you get that same Five percent discount on those lowe’s Purchases so Otherwise it is just a prepaid debit Card like any other one but you’re Getting That five percent off on your lowest Purchases so overall plenty of options From lowe’s maybe too many options even On the business front but if you are a

Frequent shopper at lowe’s whether for Personal reasons or business reasons A lot of pretty good cards here if you Look at lowe’s cards versus home depot I think lowe’s is offering you a lot More at least a lot more Options and that five percent discount Is something you are not getting from Home depot so if you are choosing Between the two perhaps lowes would be The winner here that is it for this Video questions comments put them in That comment section below Otherwise i thank you for watching we’ll Talk to you again soon