House renovation projects can boost your home’s worth and give you a new home feel without having to move, whether you’re planning to stay put or sell. Consider using a store credit card to pay for materials and supplies if you don’t have the cash on hand to finance your upcoming repair job.

For beginner homeowners working on modest projects and contractors working on bigger works, Home Depot and Lowe’s are popular locations. You might be able to save money on your home repairs and renovations if you use one of the store cards offered by both home improvement companies. These cards come with unique bonuses, rewards, and financing options. This Home Depot vs. Lowe’s Credit Card comparison might assist you in determining which card is better for you and your wallet if you don’t have a preference for either retailer.

At a glance Extended return policy and up to 24 months in special financing Enjoy 5% off everyday purchases, special financing, or fixed monthly payments with low APR Comparison Annual fee Welcome bonus Perks Standard APR Everyday financing At a glance 0 At a glance 1 At a glance 2 At a glance 3 At a glance 4 At a glance 5 At a glance 6 IN A NUTSHELL

extended return policy and special financing available for up to 24 months
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Cassandra Habib via Shutterstock When making your next upgrade or repair to your house, the Home Depot Consumer Credit Card lets your budget go further. Citi is the provider of this retail credit card; card approval and any special financing options are contingent upon creditworthiness. You must have fair or higher credit to be qualified for the Home Depot Consumer Credit Card. You won’t pay interest if you make monthly full payments on all of your bills. If you are approved for a special financing offer, you can make larger purchases with a prolonged 0% interest period.

Annual cost: nothing

Up to $100 in savings on certain purchases are offered as a welcome incentive for new card accounts. The deal is good until January 26, 2022.

Benefits: One-year return policy (90 days for non-cardmembers).

APR range: 17.99% to 26.99%

Everyday financing: If paid in full within 6 months, items costing $299 or more are interest-free for 6 months.
Special financing is available for up to 24 months with certain minimum purchase criteria.
Take advantage of 5% off regular purchases, special financing, or low APR fixed monthly payments.
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Shutterstock — Helen89 When using the store card to make purchases, the Lowe’s Advantage Card offers a number of options to economize. You can select between receiving 5% off your purchase or special financing for 6 months when you use the Lowe’s Advantage Card. You might be able to acquire a lower APR with 84 fixed monthly payments for larger purchases. You need to have fair or better credit to be eligible for the Lowe’s Advantage Card, but the standard APR is the same regardless of your credit score.

Get a 20% discount when you open a new account, good for up to $100 off your purchase. The deal is good through January 31, 2022.

Benefits: Special activities just for cardholders.

APR standard: 26.99%

Everyday financing: If paid in full within 6 months, purchases costing $299 or more qualify for 5% off discounts or 6 months with no interest.
On purchases of $2,000 or more, special financing is available with 84 months of fixed monthly payments at 7.99% APR.

ANNUAL COMPARISON FEE Some consumer credit cards contain an annual fee that must be paid each year on the card’s anniversary in order to keep it operational. You must close the credit card account before your subsequent card opening anniversary if you wish to avoid paying the annual fee. The yearly charge might not be justified depending on how you intend to use the card. There is no annual charge for either the Lowe’s Advantage Card or the Home Depot Consumer Credit Card.

HAPPY BONUS Some businesses provide welcome bonuses to persuade you to open an At a glance 9. Depending on how much you spend, if you open a new Home Depot Consumer Credit Card, you might save up to $100 on your first purchase:

$25 off orders from $25 to $299
$50 off orders of $300 to $999
$100 off orders totaling $1,000 or more
This promotion is only available with a single receipt purchase completed by 1/26/22 and is subject to credit clearance.

You can get 20% off your first purchase with the Lowe’s Advantage Card, but there’s a catch: you have to request the discount when you make your in-store purchase. If you submit an online application, you’ll get a coupon with a 20% discount code that you can use both in-store and online. This promotion has a $100 maximum savings potential and cannot be used in conjunction with any other discounts.

PERKS You have 90 days to return products you buy at Home Depot. However, if you have a Home Depot Consumer Credit Card, you have a year to return items you’ve bought with the card. You won’t be responsible for paying for unlawful transactions thanks to the zero liability protection offered by this store credit card.

You can attend exclusive cardholder events with the Lowe’s Advantage Card, but the events’ offerings change frequently and there is no set schedule. There have been no events in 2021 as of yet, although the most recent event gave 10% off qualifying purchases bought in 2020 using the credit card.

COMMON APR Fair or better credit is required for approval on the Lowe’s Advantage Card and the Home Depot Consumer Credit Card. For shop credit cards, which are typically easier to qualify for than other credit cards, this is rather typical.

Regardless of your credit score, you can be approved for the Home Depot Consumer Credit Card with a standard APR ranging from 17.99% to 26.99%. The Lowe’s Advantage Card, meanwhile, has a single standard APR of 26.99%. Let’s say you want to carry a balance or are ineligible for a certain financing program. If you have good credit, the Home Depot Consumer Credit Card can provide a better daily interest rate in that situation.

DAILY FINANCING You might be eligible for no interest financing for six months if you use the Home Depot Consumer Credit Card to make a single transaction of $299 or more. This offer is subject to credit approval, and interest will be applied to the entire sum if it is not paid in full during the six-month special financing period.

The same offer is available with the Lowe’s Advantage Card, which is also dependent on credit approval. With this shop credit card, however, you have an option between the daily financing promotion and 5% off your purchase. Despite the fact that you can’t combine these deals, you can still save 5% on purchases under $299 without using the Home Depot Consumer Credit Card. If you don’t require the additional time to pay it off without interest, you can also decide to receive the 5% discount on larger purchases.

ADVANCED FINANCING You might be eligible for special financing conditions when you use your Home Depot Consumer Credit Card to make certain purchases. The financing options are limited in time, are subject to modification, and cannot be used in conjunction with any other promotions. The present promotions consist of:

10% off installed pergolas, arbors, and pavilions from Lawn Master Outdoor Living, with free stain and an extra 5% bill credit for using your card. The deal ends on March 21st, 11:01.

one year 0% APR on purchases of installed fencing totaling $2500 or more. The acceptance of credit is required and this offer ends on October 13, 21. If the interest is not paid in full during the promotional time, the total amount will be due.

For those who meet the requirements depending on their credit, the Lowe’s Advantage Card offers Fixed Pay Financing. If you use the store credit card to make a purchase or order that costs $2,000 or more, you can enjoy 84 fixed monthly payments at a 7.99% APR instead of the usual 26.99% APR. Other promotional offers cannot be combined with this offer.

The special financing provided by the Lowe’s Advantage Card might be a better choice if you expect to spend $2,000 or more and aren’t buying anything from the current Home Depot categories.

WHICH OPTION IS BEST FOR YOU? Choosing a store card is simple if you have a preference for Home Depot or Lowe’s. Finding the ideal retail credit card, though, may prove more difficult if you don’t. Choose your top priority before comparing the credit cards from Home Depot and Lowe’s.

One of the specific financing options offered by each shop credit card could help you save a lot of money on your home repair or remodeling if you need to make a major purchase. Both store credit cards need good or superior credit to be eligible for these special deals, so if you don’t know your credit score before applying, you might want to do so.

The Home Depot Consumer Credit Card allows returns on purchases bought with the card for up to a year. This can be the preferable option for you if you are unsure of a purchase or have a history of delaying returns. However, you get access to cardholder event deals with the Lowe’s Advantage Card, such as a set percentage off your purchase. When charged to the Lowe’s Advantage Card, the most recent event in 2020 gave Extended return policy and up to 24 months in special financing 0. There aren’t any cardholder events available right now to take advantage of.

ARE THERE OTHER OPTIONS THAT VALUE CONSIDERATION? Both Home Depot and Lowe’s offer business credit cards, which would be a better option to think about if you own a business and shop there. These cards differ from the consumer retail credit cards mentioned above in terms of their perks and advantages.

Card for Home Depot Commercial Account: There are no spending caps or minimum payments necessary. As an alternative, you select a 30- or 60-day payment term. A $35 late fee may be imposed and a higher APR may apply if the card is not paid in full within this time limit.

Get employee cards, purchase monitoring, online account management, itemized statements, a 12-month return policy, and a Pro Xtra membership with extra benefits with the Home Depot Commercial Revolving Charge Card. Discover more about Extended return policy and up to 24 months in special financing 1.

Earn 5% off purchases with Lowe’s Business Credit Cards, which also offer free returns for a year, lower shipping fees, and 24/7 online account access. On eligible purchases made with the Lowe’s Business Advantage Credit Card, interest is waived for 60 days. You may earn 5% on your purchases for the first six months and 2% after that with the Lowe’s Business Rewards Card. Once your application has been approved, you’ll also receive $100 in rewards. Anywhere that accepts American Express will accept this card.

A Comparison of Lowe’s vs Home Depot Credit Cards FAQ A HOME DEPOT OR LOWE’S CREDIT CARD REQUIRES WHAT CREDIT SCORE? For a Home Depot or Lowe’s store credit card, your credit rating should be fair or better. At 640, a credit score is considered fair. Your chances of being accepted, receiving a high credit limit, and being eligible for special financing offers are all improved by having a higher credit score.

HOW MUCH DOES A HOME DEPOT CREDIT CARD COST IN PERCENTAGE? Your credit score determines the percentage rate you are authorized for on a Home Depot credit card. The APR at Home Depot ranges from 17.99% to 26.99%.

WHAT IS THE LOWES CREDIT CARD INTEREST RATE? Your interest rate will be 26.99% if you are approved for a Lowe’s credit card, regardless of your credit score. The interest rate for items made using special financing with fixed monthly payments and costing $2,000 or more is 7.99%.

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