Lowe's Launches Project Card, New Credit Card for Home Improvement Purchases

Lowe's

Launches Project Card, New Credit Card for Home Improvement

Purchases

Home improvement chain Lowe's has launched the Project Card,

a new credit targeted to consumers doing large home improvement

projects. Unlike the Lowe's credit card that already exists,

the Project Card offers a six-month interest-free, no-payment

window as long as overall purchases on the card total $1,000

or more. After that, regular interest kicks in and monthly payments

must be made.

While

the Project Card is essentially offering a six-month same-as-cash

deal in a different package, it does offer one interesting difference.

Although you have to begin paying on your card at the completion

of your six-month "project", you can start another

project with a new six-month window immediately afterwards.

So, if you're re-doing a bathroom in the spring, you can delay

paying on it for six months, then move on to your kitchen and

get a six-month window for the kitchen as well. You'd be paying

on the completed bathroom improvement at that point, but not

on the current kitchen improvement.

The

Lowe's Project Card is issued by GE Money Bank.

Published 03/10/06 (Modified 05/07/12)