Do Lowes have payment plans?

Most customers in the USA are now preferring payment plans for shopping. Buyers can pay for purchases in installments, which can get them expensive items. Many department stores are now either introducing their own payment plans or partnering with some financing technology company. Lowes Foods has approximately 80 stores. This article explains Does Lowes have payment plans?.

Does Lowes have payment plans? - Know more

Yes, Lowe’s offers payment plans to its customers so that they can buy now and pay for it later in installments. Lowe’s has a credit card known as Lowe’s advantage card for accessing the payment plans. This card offers discounts, six to twelve months financing, and 84 months financing options. At Lowe’s customers can also pay via Klarna financing technology’s plan. 

Lowe’s Fixed Payment Plan

Lowe’s advantage card offers a fixed payment plan of 84 months. Consumers are expected to make equal monthly payments for 84 weeks under this payment plan at $7.99 APR. However, the APR is high for new account holders. This plan could be applied only on purchases of $2,000 or more. 

There are two categories of these plans. One is promotional purchases, and the second is non-promotional purchases. With the fixed monthly payments, non-promotional fixed plans become costlier than promotional purchases. Notably, customers can not take advantage of other advantage card offers.

Lowe’s six-month Payment Plan 

Apart from the fixed payment plan of 84 months, Lowe’s offers a six-month plan. The Advantage Card offers two benefits to the cardholders. They can choose anyone from the two. Cardholders could either opt to pay the full amount of their purchases in six months or receive a 5% discount on the purchase. It is up to the buyer which option they want to choose. 

Notably, the six-month payment plan or 5% discount is only available on orders costing $299 and more. Customers are required to pay the full amount within six months. They will not be charged with any interest in completing the payment within six months. However, if customers do not make complete payments within six months, interest will be charged from the date of purchase. On non-competition of payment, interest will be charged for promotional and non-promotional purchases. 

Fixed payment plan, six-month payment plan, and 5% discount are the benefits that Lowe’s advantage card covers. However, only one offer could be applied to one item. 

Lowe’s Payment Plan for appliances

Normally, payment plans for Lowe’s appliances are the same as other payment plans. Any discount offer could not be combined with special financing. Lowe’s Advantage Credit Cardholders get either a 5% discount on purchases or a payment plan for 6 or 84 months. 

Lowe’s introduced a limited period appliance payment plan last January. The plan is active till 31st January 2022. According to this plan, a 12-month payment plan is available for the purchase of appliances. Now customers will not have to pay any interest if they complete the full payment within 12 months of purchase. This offer is only for appliances. If buyers don’t complete the payment within 12 months, they will be charged interest from the date of shopping. The interest will be charged against promotional as well as non-promotional purchases. The time limit for payment without interest is only six months for other items. 

Does Lowe’s take Klarna? 

If you don’t want to keep a Lowe’s Credit Card, you can also ‘Pay Later’ at the store. This is possible with Klarna. Lowe’s accepts Klarna at their stores. Klarna is a financial technology company that allows you to buy now and pay for purchases later in fixed payments. 

Klarna has partnered with several stores for its pay later services. Lowe’s is also one of them. So, if you use Klarna, you need not get a Lowe’s advantage card for a payment plan. You can use Klarna’s payment plans for shopping. You can use Klarna at Lowe’s in the following steps-

  • Download the Klarna app on your devices and search for Lowe’s. 
  • Add the items you want to buy from Lowe’s to the cart. 
  • After adding the items, checkout for the payment options. 
  • From the available payment option, choose ‘pay with k.’ Then you can choose from any available plans according to your budget. 

Klarna has several payment plans. If buyers choose a complete payment option in four equal installments, no internet will be charged to them. 

Conclusion 

Lowe’s has several payment plans for its buyers. The Lowe’s advantage card offers a fixed months payment plan, a fixed payment plan for 84 months, and a 5% discount on purchases. Cardholders are allowed to choose only one offer out of the three. Additionally, Lowe’s also accepts Klarna for the pay later payment option. 

FAQ 
  1. What APR does Lowe’s charge for new accounts? 

Answer: Lowe’s charges $26.99% APR for the new accounts. Additionally, a minimum of $2 interest is also charged to accounts. 

  1. How to get a Lowe’s Credit Card for accessing payment plans?

Answer: Lowe’s Credit Cards could be easily revived from Lowe’s stores. After completing a few procedures, customers can receive their credit card in a few minutes. Customers can also apply online for a Lowe’s Credit Card. 

Do Lowes have payment plans?

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