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tracalas1

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is it a good idea to apply for a lowe's credit card?

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Only if it offers huge benefits

Helpful to 2 out of 2 people

Store cards cannot be used everywhere, which is their biggest limitation. However, many of them do offer huge benefits (big discounts, member benefits, etc). Do the math of what the card offers and how much you spend at Lowe's regularly. Also, check if you have any other rewards card, and what's that card offers at Lowe's. If Lowe's card has better benefits for you, then by all means apply.

Keep in mind that store cards do get reported on your credit file just like other VISA/MC/AMEX, even if they have mediocre credit limits and no VISA or similar logo. Also, the application will cost you a hard enquiry. If all that outweighs the benefits, then go for it. However, whatever you do, DO NOT HAVE REVOLVING BALANCES ON THOSE CARDS. As the other member said, they have notorious interest rates. Also, do not apply if you already have many hard enquiries on your file recently.

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I don't like store specific credit card, especially since most have a high interest rate.  It's better to have a Visa or Master Card since they are universally acceptable.

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