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Lowe's vs. Home Depot — Which credit card to use for your next DIY project?

5 min read

DIYers are known for their ingenuity and savvy on every project they pursue. Whether you're an occasional handyman around the house or a regular Mr. or Ms. Fixit, Lowe's and Home Depot are one-stop shops for just about everything you need.

Both retailers offer credit cards that offer additional benefits when you shop. If you're comparing the Lowe's and Home Depot credit cards, we'll save you some time and tell you that the Lowe's Advantage Card easily comes out on top.

Here's what you need to know about each option, along with some alternatives to consider.

The Lowe's Advantage Card, issued by Synchrony Bank, offers significant savings on your purchases with the retailer. Card benefits include:

  • Annual fee: None.

  • Welcome offer: Through Jan. 31, 2025, you'll get 20% off your first purchase with the card, up to a total of $100.

  • Discount: The card offers 5% off every eligible purchase at Lowe's stores and Lowes.com. You can also earn points on eligible purchases toward MyLowe's Money (1,000 points are worth $5 of MyLowe's Money). Other benefits include point boosters and free member gifts.

  • Special financing: On purchases of $299 or more, you can opt for 0% APR financing for six months instead of the 5% discount. Just keep in mind that if you don't pay off the purchase in full, you'll be charged interest retroactively. The card also offers longer terms on certain purchases via limited-time offers. For example, you can qualify for fixed monthly payments at 9.99% APR over seven years if you spend $2,000 or more on a purchase —the card's standard APR is 28.99%

Synchrony Bank doesn't disclose eligibility requirements for the card, but you can see if you're pre-qualified with just a soft credit check, which won't impact your credit score.

The Home Depot? Consumer Credit Card

The Home Depot? Consumer Credit Card, issued by Citi, focuses on promotional financing options for its cardholders, as well as some other perks. Here's a quick summary of the card's benefits:

  • Annual fee: None

  • Welcome offer: Through July 31, 2024, you can get a discount of up to $100 on your first purchase with the card. That's $25 on a purchase of up to $299, $50 on a purchase of $300 to $999, or $100 on a purchase of $1,000 or more.

  • Special 0% APR financing: On purchases of $299 or more, you can pay down the balance interest-free over six months. If you don't pay it off in full, however, you'll be charged interest retroactively. The card's standard APR is 29.99%.

  • Limited-time offers: Occasionally, cardholders can take advantage of special financing for up to 24 months. But again, interest is charged retroactively if you don't pay off the balance in full by the end of the promotional period.

  • Expanded return policy: Home Depot credit card holders will have up to a year to make returns, which is four times longer than the standard three-month period for regular customers. The standard APR for these promotions may range from 17.99% to 29.99%.

Citi doesn't provide details about eligibility requirements, and unfortunately, there's no way to get pre-qualified with no hard credit check.

 

Overall, the Lowe's Advantage Card offers more value, particularly for people who don't need 0% APR promotions. Not having a discount option puts the Home Depot card at a significant disadvantage.

The extended financing option with a low APR on larger purchases is also a nice touch for the Lowe's card. If you have an expensive project and expect to need more than a year or two to pay it off, that may be better than a personal loan. Being able to get pre-qualified with a soft credit check can also be a great feature for people with less-than-stellar credit.

That said, if you plan to always use the 0% APR special financing option and you want more time to pay off purchases with limited-time offers, the Home Depot Card can be worth considering. Having more time to return items can also be helpful if you find yourself delaying a project.

While the Lowe's Advantage Card and the Home Depot Consumer Credit Card offer some great perks for their customers, you can only use them at Lowe's and Home Depot, respectively. If you want a solid credit card for home improvements and other purchases, here are a handful to compare.

  • Annual fee
    $0
  • Welcome offer
    Earn a $200 statement credit after spending $2,000 within the first 6 months
  • Card type(s)
    Cash-back
  • Introductory Purchases APR
    0% on purchases for 15 months
  • Ongoing Purchases APR
    19.24% - 29.99% Variable
  • Introductory Balance Transfer APR
    0% on balance transfers for 15 months
  • Ongoing Balance Transfer APR
    19.24% - 29.99% Variable
  • Recommended credit score
    Excellent, Good
  • Rewards rate
    • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%)
    • 3% cash back on U.S. online retail purchases (on up to $6,000 per year in purchases, then 1%)
    • 3% cash back at U.S. gas stations (on up to $6,000 per year in purchases, then 1%)
    • 1% cash back on all other purchases
    • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout
  • Benefits
    • 0% intro APR on purchases and balance transfers for the first 15 months
    • Get a $7 monthly statement credit after spending $9.99 or more on a streaming subscription to the Disney Bundle, plus earn up to $15 in monthly statement credits after purchasing a Home Chef subscription

Why we like it: The Amex Blue Cash Everyday is one of our favorite cash-back credit cards because of its fantastic everyday earning potential. The U.S. online retail purchases category is especially useful for home improvements if you prefer shopping online.

In general, this category includes all online purchases from U.S. retailers that sell physical goods or merchandise directly to consumers. Popular merchants that fit that description include Home Depot, Lowes, Amazon, Walmart, and more (as long as you’re making your purchases online).

In addition, the Amex Blue Cash Everyday has a generous introductory APR offer that could help with any upcoming large purchases. 

Read our full Amex Blue Cash Everyday Card review

  • Annual fee
    $0
  • Welcome offer
    Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back
  • Card type(s)
    Cash-Back
  • Introductory Purchases APR
    0% Intro APR on Purchases for 15 months
  • Ongoing Purchases APR
    20.49% - 29.24% Variable
  • Introductory Balance Transfer APR
    0% Intro APR on Balance Transfers for 15 months
  • Ongoing Balance Transfer APR
    20.49% - 29.24% Variable
  • Recommended credit score
    Excellent/Good
  • Rewards rate
    • Enjoy 5% cash back on travel purchased through Chase Travel?
    • 3% cash back on drugstore purchases and dining at restaurants (includes takeout and eligible delivery service)
    • 1.5% on all other purchases
  • Benefits
    • You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts
    • Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more
    • 0% intro APR for 15 months from account opening on purchases and balance transfers (20.49% - 29.24% variable APR after that).

Why we like it: The Chase Freedom Unlimited makes it easy to earn an elevated rate on all your purchases, including home improvement expenses. It’s also helpful that you can take advantage of an intro APR offer on purchases as a new cardmember.

With the Chase Freedom Unlimited, you get 0% intro APR on new purchases for 15 months after account opening (then 20.49% to 29.24% variable APR).

Read our full Chase Freedom Unlimited review

  • Annual fee
    $95
  • Welcome offer
    Enjoy a $250 Capital One Travel credit, plus earn 75,000 miles after spending $4,000 on purchases in the first 3 months
  • Card type(s)
    Travel
  • Purchase APR
    19.99% - 29.99% variable
  • Recommended credit score
    Good, Excellent
  • Rewards rate
    • 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
    • 2x miles on all other purchases
  • Benefits
    • Receive up to a $100 statement credit for Global Entry or TSA Precheck application fees
    • Receive a $50 experience credit, room upgrades, and early check-in at eligible hotels
    • Access Hertz's Five Star membership tier, offering free upgrades, a wider selection of vehicles, and more

Why we like it: Few cards can compete with the Capital One Venture Rewards and its simple (yet high) rewards rate. You earn at least a 2x rate on every eligible purchase, which is an excellent return for purchases you’re already planning to make. That could include home improvement expenses that might not fit a specific spending category, like paying a contractor.

Read our full Capital One Venture Rewards review

If you're looking for a credit card for home improvement projects, both the Lowe's and Home Depot credit cards are worth considering—though the Lowe's Advantage Card offers more value overall.

However, it's also worth looking beyond store credit cards to see if you can get more value overall from a rewards credit card that offers great rewards at home improvement stores and everywhere else. Just keep in mind that the best rewards credit cards typically require good or excellent credit.

To determine which card is best for you, take your time to shop around and compare several options. Then, apply for the one that offers you the most value on all of your spending.

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.