Lowe's Financing, Credit Card and Lease-to-Own
MyLowe's Rewards Credit Card gives 5% off or financing like 6 months no interest on $299 or more, and Progressive lease-to-own needs no credit history.
By Olivia HarperContributing writer. Policy checked .
On this page
Store policies change. This is a summary in our own words of the Lowe's Credit and Lease-to-Own Center and the Lease-to-Own page, read on October 26, 2026. Credit offers need approval, and your card agreement or lease is what applies.
The MyLowe's Rewards Credit Card
This is the main consumer card. When you pay with it, you choose between an everyday discount and a financing offer. Lowe's says the two cannot be combined, and only one credit offer can apply to any one item on a receipt.
| Offer | Minimum purchase | How it works |
|---|---|---|
| 5% off every day | None stated | 5% off eligible purchases, after other discounts |
| No interest if paid in full within 6 months | $299 | Deferred interest: miss the payoff and interest is charged from the purchase date |
| 84 fixed monthly payments | $2,000 | Reduced 9.99% APR, fixed payments until paid off |
The 5% discount does not apply to services such as installation, delivery, rentals or protection plans, nor to gift cards, taxes, earlier purchases, or Weber, Kichler and Miele products. It also does not stack with other promotions, the Military Discount or the Lowest Price Guarantee.
New cardholders can get 20% off when they open and use the card, up to $100 off. In a store you must ask the cashier to apply it; online approvals get a one-time code.
Rates on the card
For new accounts, Lowe's lists a purchase APR of 31.99% and a penalty APR of 36.99%, as of March 7, 2024, with a $2 minimum interest charge. On the six-month offer, minimum payments may not clear the balance in time, so plan your own payoff. On the 84-month offer, each payment is 1.6596% of the promo amount, rounded up to the next dollar, and returns do not lower it.
Other Lowe's cards
The Credit Center also lists the MyLowe's Pro Rewards American Express Card (issued by Synchrony Bank), the MyLowe's Pro Rewards Credit Card, a Lowe's Commercial Account, and the PreLoad Plus Mastercard. Lowe's installation pages say Special Financing can be used on installation projects too.
Lease-to-own with Progressive Leasing
For shoppers without credit, Lowe's offers lease-to-own through Progressive Leasing at participating stores. Key points from Lowe's page:
- A credit history is not required, but not everyone is approved. Progressive makes only soft inquiries with the three big credit bureaus.
- The minimum purchase is $150, with no application or processing fee.
- The standard lease runs 12 months to ownership. The 90-day purchase option is the cheapest way out; all early purchase options still cost more than the cash price, except the 3-month option in California.
- Approval lasts 90 days.
- Payments come out automatically and show as Progressive Leasing, not Lowe's.
- Items attached to the home (flooring, lumber, HVAC) and consumables like fuel or fertilizer are excluded.
- It is not available in Minnesota, New Jersey or Wyoming.
To buy early or cancel a lease, call Progressive at 1-877-898-1970; Lowe's cannot do it for you.
Layaway
The Lowe's credit pages we read do not mention layaway. Ask your local store before counting on it.
Sources
Lowe's Credit and Lease-to-Own Center, Lease-to-Own Program and Installation Services, Lowe's. Policy checked October 26, 2026.