FR833282333 LOWE’S ADVANTAGE CREDIT CARD
PLCC TC PDF 35577A
3/18

SYNCHRONY BANK
SECTION I: RATES AND FEES TABLE
LOWE’S ADVANTAGE CREDIT CARD ACCOUNT AGREEMENT
PRICING INFORMATION

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

26.99%

How to Avoid Paying Interest

Your due date is at least 23 days after the close of each billing cycle. We will not charge 
you any interest if you pay your entire balance by the due date each month.

Minimum Interest Charge

If you are charged interest, the charge will be no less than $2.00.

Fees

Penalty Fees

• Late Payment

Up to $38.

How We Will Calculate Your Balance: We use a method called “daily balance.” See your credit card account agreement on 
the next page for more details.

SECTION II: RATES, FEES AND PAYMENT INFORMATION 
LOWE’S ADVANTAGE CREDIT CARD ACCOUNT AGREEMENT

How Interest is Calculated

Your Interest Rate

We  use  a  daily  rate  to  calculate  the  interest  on  the  balance  on  your  account  each  day.  The  daily  rate  for 
purchases is the APR times 1/365. The daily rate for purchases is .07395% (APR 26.99%). Interest will be 
imposed in amounts or at rates not in excess of those permitted by applicable law.

When We Charge Interest 

We charge interest on your purchases from the date you make the purchase until you pay the purchase in full. 
See exceptions below.

How We Calculate Interest

•  We will not charge you interest during a billing cycle on any purchases if:

1. You had no balance at the start of the billing cycle; OR

2.  You had a balance at the start of the billing cycle and you paid that balance in full by the due date in that 

billing cycle.

•   We will credit, as of the start of the billing cycle, any payment you make by the due date that we allocate to 

purchases if:

1. You had no balance at the start of the previous billing cycle; OR

2.  You had a balance at the start of the previous billing cycle and you paid that balance in full by the due 

date in the previous billing cycle.

We figure the interest charge on your account separately for each balance type. We do this by applying the 
daily rate to the daily balance for each day in the billing cycle. A separate daily balance is calculated for the 
following balance types, as applicable: purchases and balances subject to different interest rates, plans or 
special promotions. See below for how this works.

  1.  How to get the daily balance: We take the starting balance each day, add any new charges and fees, and 
subtract any payments or credits. This gives us the daily balance. Debt cancellation fees, if any, are not 
included in the daily balance. Late payment fees are treated as new purchases.

  2. How to get the daily interest amount: We multiply each daily balance by the daily rate that applies.

  3.  How to get the starting balance for the next day: We add the daily interest amount in step 2 to the daily 

balance from step 1.

  4.  How  to  get  the  interest  charge  for  the  billing  cycle:  We  add  all  the  daily  interest  amounts  that  were 

charged during the billing cycle.

We charge a minimum of $2.00 of interest in any billing cycle in which you owe interest. This charge is added 
proportionately to each balance type.

How Fees Work 

Late Payment Fee 

We will charge this fee if we do not receive the total minimum payment due on your account by 5 p.m. (ET) on 
the due date. This fee is equal to:

  1.  $27,  if  you  have  paid  your  total  minimum  payment  due  by  the  due  date  in  each  of  the  prior  six  

billing cycles.

OR

  2.  $38, if you have failed to pay your total minimum payment due by the due date in any one or more of the 

prior six billing cycles.

The late payment fee will not be more than the total minimum payment that was due.

Minimum Payment Calculation

Your total minimum payment is calculated as follows.

The sum of:

A. The greater of:

1.  $25 (which includes any past due amounts)

OR

2.  The sum of: 

(a)  the following amounts, rounded up to the next highest whole dollar:

(i) 

 1% of your new balance (excluding any balance associated with a special promotional purchase with a unique payment calculation) shown on your 
billing statement plus interest charged in the current billing cycle on such balance; PLUS

(ii)  Any past due amounts; PLUS

(iii)  Any late payment fees charged in the current billing cycle; PLUS

(b) Any payment due in connection with a special promotional purchase with a unique payment calculation; 

PLUS

B. The monthly charges for any optional debt cancellation product you have elected to purchase for your account. 

Your total minimum payment will never be more than your new balance.

Special Promotional Financing Offer Information 

At  times,  we  may  offer  you  special  financing  promotions  for  certain  transactions  (“special  promotions”).  The  terms  of  this  Agreement  apply  to  any  special 
promotion. However, any special promotional terms that are different than the terms in this Agreement will be explained on promotional advertising or other 
disclosures provided to you. Below is a description of certain special promotions that may be offered:

•  No Interest if Paid in Full Within 6 Months

•  No Interest if Paid in Full Within 12 Months

•  No Interest if Paid in Full Within 18 Months

•  No Interest if Paid in Full Within 24 Months

For each promotion, if the promotional purchase is not paid in full within the 
promotional period, interest will be imposed from the date of purchase at the 
APR that applies to your account when the promotional purchase is made.

At the time your account is opened, the Purchase APR is 26.99%.

When you make a qualifying purchase under one of the promotions shown immediately above, no interest will be assessed on the purchase if you pay the 
promotional purchase in full within the applicable promotional period. If you do not, interest will be assessed on the promotional purchase from the date of the 
purchase. Minimum monthly payments are required. Some or all of the minimum payment based on the promotional balance may be applied to other account 
balances. Regular account terms apply to non-promotional purchases and, after promotion ends, to your promotional purchases. Offers are subject to credit 
approval. These promotional offers may not be available at all times for all purchases. Please see any special promotion advertising or other disclosures provided 
to you for the full terms of any special promotion offered.

 
 
 
SECTION III: STANDARD PROVISIONS  
LOWE’S ADVANTAGE CREDIT CARD ACCOUNT AGREEMENT

ABOUT THE CREDIT CARD ACCOUNT AGREEMENT

This Agreement. This is an Agreement between you and Synchrony Bank, 170 Election Road, Suite 125, Draper, UT 84020, for your credit card account 
shown above. By opening or using your account, you agree to the terms of the entire Agreement. The entire Agreement includes the four sections of this 
document and the application you submitted in connection with the account. These documents replace any other agreement relating to your account that 
you or we made earlier or at the same time.

Parties To This Agreement. This Agreement applies to each accountholder approved on the account and each of you is responsible for paying the full 
amount due, no matter which one uses the account. We may treat each of you as one accountholder and may refer to each of you as “you” or “your.” 
Synchrony Bank may be referred to as “we,” “us” or “our.”

Changes To This Agreement. We may change, add or delete terms of this Agreement, including interest rates, fees and charges.

Special Promotions. The terms of this Agreement apply to any special promotion. However, any special promotional terms that are different than the 
terms in this Agreement will be explained on promotional advertising or other disclosures provided to you.

HOW TO USE YOUR ACCOUNT/CARD

Use Of Your Account. You may use your account only for lawful personal, family or household purposes. You may use your account for purchases 
from Lowe’s locations, including on Lowes.com. In addition to making purchases from Lowe’s in the United States, your card can also be used to make 
purchases from any Lowe’s store in Canada (each such purchase, a “Canadian Purchase”). See the Important Information About Your Account section for 
additional terms that will apply to each Canadian Purchase.

You Promise To Pay. You promise to pay us for all amounts owed to us under this Agreement. 

Your Responsibility. Each accountholder will receive a card. You may not allow anyone else to use your account. If you do, or if you ask us to send a 
card to someone else, you will be responsible for paying for all charges resulting from their transactions. 

Purchase Limits. To prevent fraud, we may limit the number or dollar amount of purchases you can make in any particular amount of time. We also may 
decline any particular charge on your account for any reason.

Credit Limit. You will be assigned a credit limit that we may increase or decrease from time to time. If we approve a purchase that makes you go over your 
credit limit, we do not give up any rights under this Agreement and we do not treat it as an increase in your credit limit.

HOW AND WHEN TO MAKE PAYMENTS 

When Payments Are Due. You must pay at least the total minimum payment due on your account by 5 p.m. (ET) on the due date of each billing cycle. 
Payments received after 5 p.m. (ET) will be credited as of the next day. You may at any time pay, in whole or in part, the total unpaid balance without any 
additional charge for prepayment. If you have a balance subject to interest, earlier payment may reduce the amount of interest you will pay. We may delay 
making credit available on your account in the amount of your payment even though we will credit your payment when we receive it.

Payment Options. You can pay by mail, online or at a Lowe’s store. We may allow you to make payments over the phone but we will charge you a fee to 
make expedited phone payments. Your payment must be made in U.S. dollars by physical or electronic check, money order or a similar instrument from 
a bank located in the United States.

How To Make A Payment. You must follow the instructions for making payments provided on your billing statement. If you do not, credit of your payment 
may be delayed up to five days. Your billing statement also explains how information on your check is used.

Payment Allocation. We will apply the required total minimum payment to balances on your account using any method we choose. Any payment you 
make in excess of the required total minimum payment will be applied to higher APR balances before lower APR balances. Applicable law may require or 
permit us to apply excess payments in a different manner in certain situations, such as when your account has a certain type of special promotion.

INFORMATION ABOUT YOU

Using and Sharing Your Information. When you applied for an account, you gave us and Lowe’s Companies, Inc. information about yourself that we 
could share with each other. Lowe’s Companies, Inc. will use the information in connection with the credit program and for things like creating and updating 
its records and offering you special benefits. More information about how we use and share information is set forth in the privacy policy for your account. 

Address/Phone Change. You represent that any phone number that you provide to us belongs to you and/or that you are authorized to provide that 
number. You also agree to tell us right away if you change your address or any phone number.

Consent  To  Communications.  You  consent  to  us,  as  well  as  any  other  owner  or  servicer  of  your  account,  contacting  you  through  any  channel  of 
communication and for any purpose, as permitted by applicable law. For informational, servicing or collection related communications, you agree that we 
may use the phone numbers that you provide to us to contact your cellular phone or wireless device with text messages, artificial or prerecorded voice calls, 
and calls made by an automatic telephone dialing system. This consent applies even if you are charged for the call under your plan. You are responsible 
for any charges that may be billed to you by your communications carrier when we contact you.

Telephone Monitoring. For quality control, you allow us to listen to and/or record telephone calls between you and us.

IMPORTANT INFORMATION ABOUT YOUR ACCOUNT 

Closing Your Account. You may close your account at any time by sending a letter to the address shown on your billing statement or calling customer 
service. We may close your account at any time, for any reason. If your account is closed, you must stop using it. You must still pay the full amount you 
owe and this Agreement will remain in effect until you do.

Collection Costs. If we ask an attorney who is not our salaried employee to collect your account, we may charge you our collection costs. These include 
court costs and reasonable attorneys’ fees.

Credit Bureau Reporting. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your 
account may be shown in your credit report. Tell us if you think we reported wrong information about you to a credit bureau. Write to us at P.O. Box 965005,  
Orlando, FL 32896-5005. Tell us what information is wrong and why you think it is wrong. If you have a copy of the credit report that includes the wrong 
information, send us a copy. 

Default. You are in default if you make a late payment, do not follow any other term of this Agreement or become bankrupt or insolvent. If you default 
or upon your death, we may (a) request payment of the full amount due right away, (b) take legal action to collect the amounts owed, and/or (c) take any 
other action allowed. 

Disputed Amounts. The billing rights summary in section IV of this Agreement describes what to do if you think there is a mistake on your 
bill. If you send us correspondence about a disputed amount or payment, you must send it to the address for billing inquiries. We do not 
give up any rights under this Agreement if we accept a payment marked “payment in full” or given with any other conditions or limitations.

Unauthorized Use. If your card is lost, stolen or used without your consent, call us immediately at 1-800-444-1408. You will not be liable for unauthorized 
use on your account, but you will be responsible for all use by anyone you give your card to or allow to use your account.

Canadian Transactions. The following additional terms will apply to each Canadian Purchase.

If you make or return a Canadian Purchase in Canadian dollars, we will convert the transaction amount into U.S. dollars using our currency conversion 
procedure. Under the currency conversion procedure that we currently use, the Canadian dollar transaction amount is converted into a U.S. dollar amount 
by multiplying the transaction amount in the Canadian dollar currency by a currency conversion rate. The currency conversion rate that we currently use is 
a prevailing foreign exchange rate selected in our discretion. The currency conversion rate that we use for a particular transaction is the rate in effect when 
we do the conversion. This rate may differ from the rate in effect when the Canadian Purchase or return occurred or when it was posted to your account, 
and may be higher or lower than the rate you could have gotten if you had converted U.S. dollars into Canadian dollars.

Returns of Canadian Purchases will be subject to Lowe’s return policies. Under the return policies currently in effect, a Canadian Purchase can only be 
returned at a Lowe’s store in Canada and cannot be returned at a Lowe’s store in the United States. In the event that a United States Lowe’s store does 
permit the return or exchange of the Canadian Purchase, the Lowe’s store will not issue a credit to your account for the Canadian Purchase amount. 
For example, the United States Lowe’s store, in its discretion, may provide you with other merchandise, a gift card or cash in exchange for the Canadian 
Purchase. The Canadian Purchase amount will continue to be a part of your account balance, and you will remain responsible for paying the Canadian 
Purchase amount.

IMPORTANT INFORMATION ABOUT THIS AGREEMENT 

Assignment. We may sell, assign or transfer any or all of our rights or duties under this Agreement or your account, including our rights to payments. 
We  do  not  have  to  give  you  prior  notice  of  such  action.  You  may  not  sell,  assign  or  transfer  any  of  your  rights  or  duties  under  this  Agreement  or   
your account.

Enforceability. If any part of this Agreement is found to be void or unenforceable, all other parts of this Agreement will still apply.

Governing Law. Except as provided in the Resolving a Dispute with Arbitration section, this Agreement and your account are governed by federal law 
and, to the extent state law applies, the laws of Utah without regard to its conflicts of law principles. This Agreement has been accepted by us in Utah.

Waiver.  We  may  give  up  some  of  our  rights  under  this  Agreement.  If  we  give  up  any  of  our  rights  in  one  situation,  we  do  not  give  up  the  same  right  in  
another situation.

RESOLVING A DISPUTE WITH ARBITRATION 

PLEASE  READ  THIS  SECTION  CAREFULLY.  IF  YOU  DO  NOT  REJECT  IT,  THIS  SECTION  WILL  APPLY  TO  YOUR  ACCOUNT,  AND  MOST 
DISPUTES BETWEEN YOU AND US WILL BE SUBJECT TO INDIVIDUAL ARBITRATION. THIS MEANS THAT: (1) NEITHER A COURT NOR A 
JURY WILL RESOLVE ANY SUCH DISPUTE; (2) YOU WILL NOT BE ABLE TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING; 
(3) LESS INFORMATION WILL BE AVAILABLE; AND (4) APPEAL RIGHTS WILL BE LIMITED.

• What claims are subject to arbitration

1.  If either you or we make a demand for arbitration, you and we must arbitrate any dispute or claim between you or any other user of your account, 

and us, our affiliates, agents and/or Lowe’s Companies, Inc. if it relates to your account, except as noted below. 

2.  We will not require you to arbitrate: (1) any individual case in small claims court or your state’s equivalent court, so long as it remains an individual 
case in that court; or (2) a case we file to collect money you owe us. However, if you respond to the collection lawsuit by claiming any wrongdoing, 
we may require you to arbitrate.

3.  Notwithstanding any other language in this section, only a court, not an arbitrator, will decide disputes about the validity, enforceability, coverage 
or scope of this section or any part thereof (including, without limitation, the next paragraph of this section and/or this sentence). However, any 
dispute or argument that concerns the validity or enforceability of the Agreement as a whole is for the arbitrator, not a court, to decide.

• No Class Actions

YOU  AGREE  NOT  TO  PARTICIPATE  IN  A  CLASS,  REPRESENTATIVE  OR  PRIVATE  ATTORNEY  GENERAL  ACTION  AGAINST  US  IN 
COURT OR ARBITRATION. ALSO, YOU MAY NOT BRING CLAIMS AGAINST US ON BEHALF OF ANY ACCOUNTHOLDER WHO IS 
NOT AN ACCOUNTHOLDER ON YOUR ACCOUNT, AND YOU AGREE THAT ONLY ACCOUNTHOLDERS ON YOUR ACCOUNT MAY BE 
JOINED IN A SINGLE ARBITRATION WITH ANY CLAIM YOU HAVE. 

If a court determines that this paragraph is not fully enforceable, only this sentence will remain in force and the remainder will be null and void, and 
the court’s determination shall be subject to appeal. This paragraph does not apply to any lawsuit or administrative proceeding filed against us by 
a state or federal government agency even when such agency is seeking relief on behalf of a class of borrowers, including you. This means that we 
will not have the right to compel arbitration of any claim brought by such an agency.

 
 
 
 
 
• How to start an arbitration, and the arbitration process

1.  The party who wants to arbitrate must notify the other party in writing. This notice can be given after the beginning of a lawsuit or in papers filed 
in the lawsuit. Otherwise, your notice must be sent to Synchrony Bank, Legal Operation, P.O. Box 29110, Shawnee Mission, KS 66201-5320, 
ATTN:  ARBITRATION  DEMAND.  The  party  seeking  arbitration  must  select  an  arbitration  administrator,  which  can  be  either  the  American 
Arbitration Association (AAA), 120 Broadway, Floor 21, New York, NY 10271, www.adr.org, 1-800-778-7879, or JAMS, 620 Eighth Avenue, 
34th Floor, New York, NY 10018, www.jamsadr.com, 1-800-352-5267. If neither administrator is able or willing to handle the dispute, then the 
court will appoint an arbitrator. 

2.  If  a  party  files  a  lawsuit  in  court  asserting  claim(s)  that  are  subject  to  arbitration  and  the  other  party  files  a  motion  with  the  court  to  compel 

arbitration, which is granted, it will be the responsibility of the party asserting the claim(s) to commence the arbitration proceeding. 

3.  The arbitration administrator will appoint the arbitrator and will tell the parties what to do next. The arbitrator must be a lawyer with at least ten 
years of legal experience. Once appointed, the arbitrator must apply the same law and legal principles, consistent with the FAA, that would apply 
in court, but may use different procedural rules. If the administrator’s rules conflict with this Agreement, this Agreement will control. 

4.  The arbitration will take place by phone or at a reasonably convenient location. If you ask us to, we will pay all the fees the administrator or 
arbitrator charges, as long as we believe you are acting in good faith. We will always pay arbitration costs, as well as your legal fees and costs, 
to the extent you prevail on claims you assert against us in an arbitration proceeding which you have commenced.

• Governing Law for Arbitration

 This Arbitration section of your Agreement is governed by the Federal Arbitration Act (FAA). Utah law shall apply to the extent state law is relevant 
under the FAA. The arbitrator’s decision will be final and binding, except for any appeal right under the FAA. Any court with jurisdiction may enter 
judgment upon the arbitrator’s award.

• How to reject this section

 You may reject this Arbitration section of your Agreement. If you do that, only a court may be used to resolve any dispute or claim. 
To reject this section, you must send us a notice within 60 days after you open your account or we first provided you with your right 
to reject this section. The notice must include your name, address and account number, and must be mailed to Synchrony Bank,  
P.O. Box 965012, Orlando, FL 32896-5012. This is the only way you can reject this section.

SECTION IV: OTHER IMPORTANT INFORMATION 
LOWE’S ADVANTAGE CREDIT CARD ACCOUNT AGREEMENT
This section of the agreement includes state notices, billing rights summary and rewards terms (if applicable) and is not required to be provided as part of the  
credit card agreement posted online or provided to the CFPB.

FR833282333 LOWE’S ADVANTAGE CREDIT CARD
PLCC TC PDF 35577A
3/18