The MyLowe’s Rewards Credit Card is our top pick over The Home Depot Consumer Credit Card because of its everyday discount on purchases. You’ll get 5% off eligible purchases at checkout, while The Home Depot Consumer Credit Card doesn’t have a rewards program.
Making home renovations can be a smart way to improve your living space and add value to your property, and Home Depot and Lowe’s are two names most homeowners likely know. Both are major players in the home improvement space, and both offer store credit cards that can help you finance a renovation project.
Both cards offer a sign-up bonus worth up to $100 in value and at least six months of special financing. However, the MyLowe’s Rewards Credit Card beats out The Home Depot Consumer Credit Card because of its 5% discount on eligible Lowe’s purchases.
| The Home Depot Consumer Credit Card | The MyLowe’s Rewards Credit Card | |
|---|---|---|
| Annual fee | $0 | $0 |
| Sign-up bonus | Save up to $100 on qualifying purchases for new cardholders. Get $25 off on purchases of $25-$299, $50 off purchases of $300-$999 or $100 off purchases of $1,000 or more. | Get a one-time discount of 20% off your purchase, up to a $100 discount, when you open and use a new MyLowe’s Rewards Credit Card. |
| Rewards | None | Save 5% on eligible purchases. |
| Financing options |
|
|
| Regular purchase APR | 29.99% variable | 31.99% variable |
Tip: Be aware that these are deferred interest offers. This means that if you don’t pay your balance in full by the end of the promotional period, you’ll owe the full amount of interest for that period. With the high APRs on these cards, this could be very pricey.
Learn more about deferred interest.
Your 5% discount is applied directly at checkout in-store or online. Most purchases apply, but there are a few exclusions including:
The MyLowe’s Rewards Credit Card is the better option for most consumers. It offers an everyday discount that the other card lacks (though this discount can’t be combined with a financing offer).
However, the choice depends on which store you use. If you primarily shop with Home Depot, The Home Depot Consumer Credit Card may make more sense. Home Depot has a slight edge over Lowe’s in that it has a larger footprint, with more than 2,300 stores in the United States, Canada and Mexico (versus around 1,700 Lowe’s stores in the U.S.). If you live in an area without a Lowe’s, The Home Depot Consumer Credit Card may be the better option by default.
Still, neither of these cards may be the best credit card for you. Instead, consider a general-purpose card with a 0% intro APR and a sign-up bonus — that way, you won’t have to worry about incurring deferred interest. Or, consider a cash back credit card that has a high rewards rate on general purchases.
There are other no-annual-fee credit cards with more extensive benefits. For example:
| Credit Cards | Our Ratings | Rewards Rate | Intro Purchase APR | Regular APR | |
|---|---|---|---|---|---|
Wells Fargo Reflect® Card*
|
Longest intro APR for financing a large purchase
|
None | 0% intro APR for 21 months from account opening | 17.49%, 23.99%, or 29.24% Variable APR | |
BankAmericard® credit card*
|
Runner-up for longest intro APR on purchases
|
N/A | 0% Intro APR for 18 billing cycles for purchases | 15.74% - 25.74% Variable APR | |
Chase Freedom Unlimited®
 Apply Now
on Chase's secure site |
High flat-rate of cash back and a long intro APR on purchases
|
Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases | 0% Intro APR on Purchases for 15 months | 19.99% - 28.74% Variable |
Apply Now
on Chase's secure site |
Prime Visa
Apply Now
on Chase's secure site |
Alternate store card with a high rate of cash back on Amazon purchases
|
Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership, unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare), and unlimited 1% on all other purchases | N/A | 19.99%–28.74% Variable |
Apply Now
on Chase's secure site |
Target Circle™ Card*
|
Alternate store card with a high rate of cash back on Target purchases
|
5% off every day at Target and Target.com. Earn 2% on dining and gas purchases and 1% everywhere else outside of Target | N/A | 29.95% | |
Wells Fargo Active Cash® Card*
|
Offers 2% cash back on every purchase
|
Earn unlimited 2% cash rewards on purchases | 0% intro APR for 12 months from account opening | 19.49%, 24.49%, or 29.49% Variable APR |
The information related to the The Home Depot Consumer Credit Card, MyLowe’s Rewards Credit Card, Wells Fargo Reflect® Card, BankAmericard® credit card, Target Circle™ Card and Wells Fargo Active Cash® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
