The MyLowe’s Rewards™ Credit Card offers 5% off on qualifying purchases at Lowe’s and Lowes.com, with no annual fee. Cardholders also get free Silver Key status with bonus points and exclusive events. However, the card can only be used at Lowe’s. There are promotional financing offers for qualifying purchases as well.

The card provides a 20% discount on an eligible purchase for new cardholders, up to a $100 discount. It offers a one-time use promotion for qualifying purchases, but it can only be used at Lowe’s stores and Lowes.com. Consider other credit cards for more flexible rewards and perks.

If you spend $10,000 annually at Lowe’s, the MyLowe’s Rewards Credit Card can save you $500. Other rewards cards can earn you cash back or rewards points that may be more valuable. Consider factors like sign-up bonuses and perks when choosing a credit card for home improvement purchases.

Read more at Yahoo Finance: Is it worth it for home improvement projects?