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.
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