Image: African American man renovating home interior
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Lowe’s® Advantage Card
What you need to know about each card
Both store credit cards come with no annual fee and offers that can help you save on big purchases.
But if you want ongoing rewards or more special project financing options, you’re going to want to go with the Lowe’s® Advantage Card. Here’s a breakdown of each store card and what it has to offer.
What to consider when applying for home improvement credit cards
While both cards offer promotional 0% APR financing periods, it’s important to understand that both of these promotions use a deferred-interest model. These kinds of 0% APR deals are sometimes referred to as “no-interest-if-paid-in-full” offers.
Deferred-interest periods can be dangerous, and here’s why: If you don’t pay the purchase off in full before the six months are up, the interest that would have accumulated during that time will be added to your bill all at once. With deferred-interest deals, it’s important to pay your bill off in full (and on time) before the promotional period ends.
But not all 0% APR credit card promotions use the deferred-interest model. If project financing is a priority for you, then a true 0% intro APR card (rather than 0% APR if-paid-in-full card) may be a better choice.
About the author: Clint Proctor is a freelance writer and founder of WalletWiseGuy.com, where he writes about how students and millennials can win with money. When he’s away from his keyboard, he enjoys drinking coffee, traveling, obse… Read more.
