Lowe’s Advantage Card vs. Home Depot Consumer Card

KEY TAKEAWAYS:

Winner for ROI: The Lowe’s MyLowe’s Rewards Card is mathematically superior for 95% of homeowners due to the flat 5% discount + 0.625% rewards rate.
The “Debt Trap”: Both cards use “deferred interest.” If you owe $1 after the promo period, you are charged interest on the entire original purchase amount (approx. 32% APR).
Return Policy Parity: Both cards extend return windows to 365 days, but major appliances are excluded (often 48-hour limits apply).
Pro Verdict: Home Depot’s card offers zero cash savings. It is purely a cash-flow tool for financing. Lowe’s offers instant equity protection on materials.

Most home improvement articles recite the same brochure bullet points: “Both have no annual fee” and “Both offer financing.” That information is useless if you are trying to calculate the actual cost of ownership.

If you are renovating a kitchen, building a deck, or just maintaining a home, the credit card you choose acts as a lever to discount your entire material budget. We ran the numbers across three spender profiles: The Weekend Warrior, The Renovator, and The Semi-Pro, to determine exactly how much money each card puts back in your pocket over 5 years.

The Core Value Proposition: Discount vs. Financing

The fundamental difference between these two cards is philosophical. Lowe’s pays you to shop; Home Depot lends you money to shop.

Lowe’s MyLowe’s Rewards Card (Formerly Advantage Card)

Lowe’s aggressive strategy is the 5% flat discount. This is not a “points” system you redeem later; it is removed directly at the register. In 2026, Lowe’s integrated this card into the “MyLowe’s Rewards” program. Cardholders are automatically upgraded to Silver Key Status.

The Math of Silver Status: Silver status earns 1.25 points per $1 spent. 1,000 points equals $5 in MyLowe’s Money. This translates to an additional 0.625% return.
Total Effective Return: 5.625%.

Home Depot Consumer Credit Card

Home Depot offers 0% discount. There are no points, cash back, or register discounts for the standard consumer card. The value proposition is entirely focused on Special Financing (6 months deferred interest on purchases over $299).

5-Year ROI Data Table

We simulated three spending profiles to show the raw dollar difference. This assumes the balance is paid in full monthly to avoid interest (essential for any ROI calculation).

Weekend Warrior (Paint, light repairs)	$2,000	$562.50	$0	+$562.50 (Lowe’s)
The Renovator (1 major room update/year)	$10,000	$2,812.50	$0	+$2,812.50 (Lowe’s)
The Semi-Pro (Flips, rentals, heavy DIY)	$25,000	$7,031.25	$0	+$7,031.25 (Lowe’s)

*Note: Home Depot occasionally offers “Up to $100 off” sign-up bonuses, but this is a one-time event that does not impact long-term ROI.

The “Deferred Interest” Trap: A Warning

Both cards offer “No Interest for 6 Months” on purchases of $299 or more. You must understand that Deferred Interest is not the same as 0% APR.

If you buy a $2,000 refrigerator and pay off $1,999 by the end of the 6-month promotional period, leaving a $1 balance:

True 0% APR Card: You are charged interest on the $1 balance.
Store Card (Deferred): You are charged interest on the full $2,000 amount from the day of purchase.

With APRs hovering around 31.99% (Lowe’s) and 29.99% (Home Depot) in 2026, a single missed deadline can cost you $300+ in retroactive interest, instantly wiping out years of potential savings.

Project Financing: When Home Depot Competes

While Lowe’s wins on small-ticket ROI, Home Depot becomes competitive on massive projects through their Project Loan card (a separate product, but relevant here). However, when strictly comparing standard consumer cards, Lowe’s has a distinct edge for large appliances.

Lowe’s 84-Month Option:
On purchases of $2,000 or more, Lowe’s offers “Reduced APR Financing” (fixed 9.99% APR for 84 months). While 9.99% isn’t cheap, it is a fixed installment loan structure that protects you from the 32% variable rate if the Fed raises rates.

The 365-Day Return Policy: Read the Fine Print

Both cards extend the standard return window to a full year (365 days). This is a massive benefit for renovations where you might buy a faucet in January but not install it until June, only to find it doesn’t fit.

The “Gotcha” Exception:
This extension rarely applies to Major Appliances (fridges, washers, ranges). Both retailers typically have strict 48-hour return windows for damaged/defective appliances, regardless of which credit card you use. Do not assume your card protects you if you leave a dishwasher boxed up for three months.

Which Card Should You Carry?

Choose Lowe’s MyLowe’s Rewards Card If:

You pay in full monthly. The 5% discount is a guaranteed, risk-free return on investment that beats almost any high-yield savings account or general cashback card.
You value automatic status. Getting Silver Key status immediately means free standard shipping on eligible items with no minimum purchase requirement.
You are brand agnostic. If a DeWalt drill is $100 at both stores, it is effectively $95 at Lowe’s.

Choose Home Depot Consumer Card If:

You are strictly financing cash flow. If you need to float $1,500 for 6 months and possess the discipline to pay it off exactly on time, this card serves that purpose.
You are brand loyal to exclusive lines. If you specifically require Ryobi, Milwaukee, or Behr Paint, the Lowe’s discount is irrelevant because you cannot buy those brands there.
You are flipping a house. The 365-day return policy on unused materials (lumber, hardware, flooring) lets you over-buy for a project and return the excess a year later without the hassle of receipts, saving substantial time during a chaotic flip.

Final Verdict

From a strict financial perspective, the Lowe’s MyLowe’s Rewards Card is the superior financial instrument. A guaranteed 5% return on spend is an outlier in the credit card industry, where 2% is the standard for “good” rewards.

Over 5 years, a moderate DIY homeowner will save approximately $2,800 simply by switching their checkout. Home Depot’s offering is not a rewards card; it is a financing tool. Treat it accordingly.

Lowe’s Advantage Card vs. Home Depot Consumer Card: A 5-Year ROI Analysis