What Financing Does Lowe Offer and How Does it Work?

Lowe offers a wide range of credit cards and commercial loans to its retail and business clients. You can choose one of these financing options to make purchases at Lowe’s outlets.

Let us discuss the different financing options available at Lowe for retail and business clients.

Fixed Pay Financing

Lowe’s fixed pay financing allows customers to purchase their favorite items and pay over an extended period with fixed monthly installments.

This financing offer comes with Lowe’s Advantage Credit Card for existing customers. It offers a low APR as compared to the standard interest rate for new customers.

Some key features of the Fixed Pay Financing option include:

  • Eligible customers must make purchases of $2,000 or more.
  • The total amount can be divided into equal monthly installments of up to 84 months.
  • The special APR of 7.99% applies to this offer only.
  • This offer cannot be combined with other offers like the 5% advantage offer by Lowe’s.
  • Existing customers can check their approval chances with prequalification without hurting their credit.

Your fixed monthly installment amount would depend on the total amount of purchases with and without promotional discounts.

After the promotional period, you may incur the full APR on the remaining balance as well.

5% off or 6-Month Special Financing

This special financing is also available with Lowe’s Advantage credit card for existing customers. You can choose either a 5% daily reward on your purchases or obtain a special 6-month financing plan.

Here are a few key points to note with 5% off or 6-month special financing:

  • Customers must make purchases of $299 or more to obtain this offer.
  • You can choose either 5% on daily purchases or obtain special financing for 6 months.
  • The 6-month special financing comes with a 0% interest rate if repaid within the promotional period.
  • If you do not repay within 6 months, you’ll incur the standard interest rate on the remaining balance from the purchases. Accrued interest method applies here.
  • Customers can check their eligibility through prequalification.
  • The minimum monthly payment would depend on the total purchase bill.

This offer cannot be combined with other promotions or discounts.

Lowe’s Lease to Own Program

Lowe’s lease-to-own program is its flagship financing option for its customers. You can purchase home appliances and other items using the lease program and pay in monthly installments.

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The lease-to-own program lets you buy your favorite items without a need for the credit score. Once approved, you have 90 days to make full use of the approved lease amount.

Here are a few key points to remember about the lease-to-own program:

  • You need a minimum initial payment of $59.
  • The maximum lease amount is $2,500.
  • The lease term is up to 12 months.
  • There is no minimum credit score requirement but Lowe’s partner bank Synchrony may evaluate your credit score through a soft check.
  • You need social security number (SSN), a bank account number, a debit/credit card, and must be 18 years old.

You’ll own the leased item at the end of the lease term if you pay the full amount within the lease period.

The lease-to-own program is offered at selective outlets and excludes a few states like New Jersey, Minnesota, and Vermont.

Lowe’s Business Financing

Lowe’s business customers can enjoy credit financing with easy payment terms and low-interest rates as well.

Lowe offers two types of short-term financing options to its business customers.

Lowe’s Business Advantage

Business customers can make credit purchases through the business credit card.

The business advantage card has the following benefits:

  • 0% APR on business purchases with a credit period of 60 days. You’ll repay with the standard interest rate after the promotional period.
  • Business clients can request multiple credit cards for the same account.
  • View and download transaction history for up to six months.
  • For new business clients, the APR will be 16.99%- 21.99%, depending on your selected outlet.
  • The standard APR will apply to the existing customers during nonpromotional period purchases.

This offer also comes with the regular 5% off on purchases discount. However, both offers cannot be combined at the same time.

Lowe’s Business Reward Card

This is another credit card for Lowe’s business customers for different perks and discounts on commercial purchases.

Some key points to remember with Lowe’s reward credit card include:

  • It can be used at all Lowe outlets and places where American Express is accepted as it is a co-branded credit card.
  • New business customers can get up to $100 of welcome discount on initial purchases.
  • No annual fees for the reward card.
  • 5% cash back during the promotional period and 2% rewards on regular purchases afterward.
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Both these business financing options come with regular benefits on a 365-days return policy, online account management, invoice management, and discounted delivery offers. financing options come with regular benefits on a 365-days return policy, online account management, invoice management, and discounted delivery offers.

Lowe’s Commercial Account

Lowe’s commercial account acts like an overdraft facility. You can make purchases up to an approved credit limit and repay the full amount within two payment cycles with no interest charges.

This account is offered to existing and selective business clients only. If your billing statement shows zero account balance, there will be no charges on it.

However, if you have a remaining balance, you’ll need to pay at the standard APR on the remaining balance only.

The commercial account comes with other features like PDF statements, billing on the delivery date, and automatic inclusion in the MVP Pro benefit program.

Lowe’s Preload Discover® Card

It is a co-branded card offered in partnership with Discover®. Business customers can use this card with preloaded funds and manage their business expenses seamlessly.

 Here are some key benefits of Lowe’s preloaded Discover® card.

  • Flexible payment options through debit, credit cards, or bank transfers.
  • Option to issue multiple preloaded cards to employees.
  • No credit check required. However, it does not guarantee credit approval.
  • Customized categories for managing business clients.
  • Set spending limits for supplementary cards for better budgetary controls.
  • Discover® offers zero liability for unauthorized use of this card.

How Does Lowe’s Financing Work?

Lowe offers credit options to retail and corporate clients with different financing products.

The process to get approved for these credit cards and financing terms is similar for all types of customers.

How to Apply?

You can apply for a credit card, commercial loan, or pre-load card online with Lowe’s digital portal.

The process can be completed online from the sign-up to credit card approval. Once you provide the necessary information, Lowe’s partner banks will decide on your credit approval.


Lowe’s financing offers prequalification on most credit cards and commercial loan offers. You can check your eligibility for free without incurring negative credit score points.

Credit Card Approval

The credit card approval process is also online. Lowe’s partner bank Synchrony will evaluate your application for credit card approval.

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Pre-load Card Approval

The pre-load card is a co-branded card with Discover. It is offered to existing business customers of Lowe up to specific credit limits.

Commercial Loan Approval

Lowe’s commercial account approval can also be obtained online. It allows business customers to repay the loan amount with up to two cycles.

Credit Score and Other Requirements

Lowe does not provide any credit score requirements. Some of its products do not require a credit check as well.

However, Lowe’s partner banks Synchrony bank, Discover, and other financial partners may evaluate your application with a soft credit inquiry.

Generally, you’ll need to be at least 18 years old, provide a social security number, and have a checking account.

Frequently Asked Questions about Lowe’s Financing

Let us answer a few frequently asked questions about Lowe’s financing programs.

Is lease-to-Own similar to Credit Financing?

No, the lease-to-own program is different from other credit financing options. You’ll own the leased items at the end of the lease term when you pay the full amount.

What Does “No Credit Required” mean for Lowe’s Financing?

“No Credit Required” means you do not need to have a certain credit score. You can apply without a credit score or credit history. However, it does not guarantee financing approval.

Can You Combine Multiple Credit Offers from Lowe?

No, most of the credit card offers and special interest rate offers cannot be combined with other promotions.

What is the maximum lease-to-own Amount?

The maximum lease amount is $2,500 for each applicant.

What is the maximum lease term?

The maximum lease term is 12 months. Once approved, you have up to 90 days to make full use of the lease amount limit.

What is the credit score requirement for Lowe’s different financing options?

There is no specific credit score requirement from Lowe. However, you can expect a credit card approval with a credit score of at least 620 and more.

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