FR833282333_LOWE’S CREDIT CARD
T&C PLCC PDF
5/12

GE CAPITAL RETAIL BANK 
SECTION I: RATES AND FEES TABLE 
LOWE’S CREDIT CARD ACCOUNT AGREEMENT 
PRICING INFORMATION

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

24.99%

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 $1.00

Fees

Penalty Fees

•	Late Payment

Up to $35

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 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  .06847%  (APR  24.99%).  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.

•	 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.

How We Calculate Interest

How Fees Work 

Late Payment Fee 

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.  Credit  insurance  premiums  and 
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 $1.00 of interest in any billing cycle in which you owe interest. This charge is added 
proportionately to each balance type.

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. $25, if you have paid your total minimum payment due by the due date in each of the prior six billing cycles.

  OR

  2.  $35, 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	the	following	amounts,	rounded	up	to	the	next	highest	whole	dollar:

a. Any past due amounts; PLUS

b.  1% of your new balance (excluding any balance in connection with a special promotional purchase with a unique payment calculation) shown on your 

billing statement; PLUS

c. Any late payment fees charged in the current billing cycle; PLUS

d. All interest charged in the current billing cycle; PLUS

e. Any payment due in connection with a special promotional purchase with a unique payment calculation.

PLUS

B. The monthly charges for any optional credit insurance or 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 24.99%.

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. 

OR

•	 No Interest for 24 Months

For  each  promotion,  after  the  promotion  ends,  the  APR  that  applies 
to your account when the promotional purchase is made will apply. 

•	 No Interest for 36 Months

At the time your account is opened, the Purchase APR is 24.99%.

When  you  make  a  qualifying  purchase  under  one  of  the  promotions  shown  immediately  above,  no  interest  will  be  assessed  on  the  purchase  during  the 
promotional period and a unique monthly payment will be required equal to at least 4.1667% of your initial promo purchase amount for 24 month promotions, 
or 2.7778% of such amount for 36 month promotions.

For	all	the	promotion	types	shown	above:	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 CREDIT CARD ACCOUNT AGREEMENT

ABOUT THE CREDIT CARD ACCOUNT AGREEMENT

This Agreement. This is an Agreement between you and GE Capital Retail 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, 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”.  
GE Capital Retail 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 agree to tell us right away if you change your address or phone number(s). We will contact you at the address or phone 
number in our records until we update our records with your new address or phone number.

Consent To Communications. You consent to us contacting you using all channels of communication and for all purposes. We will use the contact 
information you provide to us. You also consent to us and any other owner or servicer of your account contacting you using any communication channel. 
This may include text messages, automatic telephone dialing systems and/or an artificial or prerecorded voice. This consent applies even if you are charged 
for the call under your phone plan. You are responsible for any charges that may be billed to you by your communications carriers 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 GE Capital Retail Bank, Legal Operation, P.O. Box 29110, Shawnee Mission, KS 66201,  
ATTN:	 ARBITRATION	 DEMAND.	 The	 party	 seeking	 arbitration	 must	 select	 an	 arbitration	 administrator,	 which	 can	 be	 either	 the	 American	
Arbitration	Association	(AAA),	1633	Broadway,	10th	Floor,	New	York,	NY	10019,	www.adr.org,	(800)	778-7879,	or	JAMS,	620	Eighth	Avenue,	
34th	Floor,	New	York,	NY	10018,	www.jamsadr.com,	(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	GE	Capital	Retail	Bank,	
P.O.	Box	965012,	Orlando,	FL	32896-5012.	This	is	the	only	way	you	can	reject	this	section.

SECTION IV: OTHER IMPORTANT INFORMATION OF 
LOWE’S 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 CREDIT CARD
T&C PLCC PDF
5/12