Lowe’s Advantage 2021 card review – Forbes Advisor
Lowe’s Advantage Card vs. Home Depot Consumer Credit Card
The Home Depot Consumer Credit Card is a store card that can only be used at Home Depot. It does not offer any discounts or ongoing rewards. It has a valuable advantage: an extended payback period of one year. Like the Lowe’s Card, the Home Depot Card has no annual fee and a fair credit score is recommended.
The card has a welcome bonus of a sliding discount on a single purchase receipt within the first 30 days of card approval, depending on the amount of the purchase. The maximum discount is $ 100.
The Home Depot card has a six-month financing plan similar to Lowe’s, which also charges deferred interest if the loan is not paid off within six months. Special financing plans are periodically made available to cardholders.
Overall, Lowe’s 5% discount makes it a better choice than the Home Depot card assuming both stores are located in your area and sell the items you need.
Lowe’s Advantage Card vs Walmart Store Card
While Walmart isn’t a home improvement store, it does have a large home improvement department, offering paint, light fixtures, and tools. And of course, Walmart has a huge selection of general merchandise and food in its many locations.
The Walmart Rewards card is a store card that offers almost the same benefits as its big brother, the Capital One® Walmart® Rewards Card but it is easier to get approval because it is available to customers with fair or better credit. While the card can only be used at Walmart, Sam’s Club, and Murphy’s USA gas stations, the wide selection of these stores makes the Walmart Rewards Card a general-purpose card.
The Walmart Rewards Card is particularly attractive because of its rich rewards program, especially during the first 12 months of card holding. For the first year, cardholders receive 5 points per dollar spent at Walmart stores if they use the Walmart Pay app, which translates into 5% cash back.
Ongoing rewards include 5% off Walmart.com purchases, 2% off Walmart in-store purchases, 2% off gasoline purchases at Murphy USA gas stations, and 1% at Sam’s Club stores and Sam’s Club gas stations. This could represent significant savings if you shop frequently at Walmart and Sam’s Club. The rewards are unlimited. In addition, there is no annual fee for the card.
Lowe’s Advantage Card vs Alliant Platinum Rewards
The Alliant Visa Platinum Rewards card is issued by Alliant Credit Union. This is a no annual fee card that offers the equivalent of 2% cash back on all purchases and only requires fair credit for approval. As a Visa card, it is widely accepted by over 400 million merchants around the world in over 200 countries.
Alliant is offering a welcome bonus of 5,000 points if you spend a total of $ 500 in the first 90 days. Each point is equal to one cent. You will get 1,000 points for the $ 500 in purchases (at the rate of 2 points per dollar) and 5,000 welcome bonus points, for a total of 6,000 points.
Obviously, if you spend a lot of money at Lowe’s, the 5% discount is more valuable than the 2% cashback. However, the Alliant Visa Platinum Rewards card allows you to earn cash on all purchases. So, depending on how much you plan to spend at Lowe’s, you can earn more rewards with a card that gives you rewards for every spend you make.
One condition is that you must join Alliant Credit Union to apply for the card. Even if you don’t meet their typical membership criteria, you can become eligible by donating $ 5 to Foster Care for Success, a community-based non-profit organization.