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

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

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

During  the  Purchase  Period  for  a  Project  Window,  the  APR  for  balances  in  that  Project 
Window is 0.00% and the daily rate is 0.0%.*

After the Purchase Period for a Project Window ends, the APR for balances in that Project 
Window is:

Tier 1: 7.99%
Tier 2: 9.99%
Tier 3: 11.99%
Tier 4: 13.99%
Tier 5: 17.99%
Your due date is at least 25 days after the close of each billing cycle. We will not charge 
you any interest on purchases for a Project Window if you pay the entire balance for that 
Project Window by the due date on the first statement following the six-month period after 
the Project Window begins.

How to Avoid Paying 
Interest

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.

*See the PROJECT WINDOW section below.

SECTION II: RATES, FEES AND PAYMENT INFORMATION 
 LOWE’S PROJECT CARD ACCOUNT AGREEMENT
PROJECT WINDOW. When you make your first purchase with your Lowe’s Project Card (which must be in an amount of $1,000 or more), a “Project Window” 
is  established.  Such  initial  purchase  and  all  purchases  made  during  the  six-month  period  after  the  Project  Window  begins  (the  “Purchase  Period”)  will  be 
included in the Project  Window. After the end of a Purchase Period, you can establish a new Project Window by making a new purchase of $1,000 or more with 
your Lowe’s Project Card. Only one Purchase Period may be open at any time. Each balance of your account attributable to a particular Project Window shall 
be referred to as a “Project Window Balance.” If your account includes more than one Project Window Balance, the calculation of interest and the determination 
of payment amounts will be determined separately for each Project Window Balance.

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  is  the 
applicable APR times 1/365. Interest will be imposed in amounts or at rates not in excess of those permitted by 
applicable law.

We calculate interest separately for each Project Window Balance on your account each day.

During  the  Purchase  Period  for  a  Project  Window,  the  daily  rate  for  balances  in  that  Project  Window  is  0.0%  
(APR 0.00%). 

After the Purchase Period for a Project Window ends:

For Tier 1: The daily rate for balances in that Project Window is .02190% (APR 7.99%).

For Tier 2: The daily rate for balances in that Project Window is .02737% (APR 9.99%).

For Tier 3: The daily rate for balances in that Project Window is .03285% (APR 11.99%).

For Tier 4: The daily rate for balances in that Project Window is .03833% (APR 13.99%).

For Tier 5: The daily rate for balances in that Project Window is .04929% (APR 17.99%).

When We Charge Interest 

We charge interest on your Project Window Balance from the first day of the first billing cycle after the Purchase 
Period ends until you pay the Project Window Balance in full, except as set forth below:

How We Calculate Interest

How Fees Work 

Late Payment Fee 

•	 	After	the	Purchase	Period	for	a	Project	Window	ends,	we	will	not	charge	you	interest	during	a	billing	cycle	on	
the Project Window Balance if the sum of your payments and credits on your account applied to such Project 
Window Balance by the due date in that billing cycle is at least equal to the Project Window Balance.

•	 	We	will	credit,	as	of	the	beginning	of	the	first	billing	cycle	after	the	end	of	a	Purchase	Period	for	a	Project	Window,	
any payment you make by the due date in that billing cycle that we allocate to the Project Window Balance for that 
Project Window.

During billing cycles in which interest is charged, we figure the interest charge on your account by applying the 
daily rate to the “daily balance” of each Project Window for each day in the billing cycle. A separate daily balance 
will be calculated for each Project Window. To calculate the daily interest charge, we do the following steps each 
day for each Project Window:

•	 	First,	 we	 determine	 the	 daily	 balance	 for	 the	 Project	 Window.	 To	 determine	 the	 daily	 balance,	 we	 take	 the	
beginning Project Window Balance each day, add any new charges applied to the Project Window Balance that 
day, and subtract any payments and credits applied to the Project Window Balance that day. This gives us the 
daily balance for the Project Window. Fees are not included in the daily balance.

•	 	Second,	we	calculate	the	amount	of	interest	charged.	To	do	this,	we	multiply	the	applicable	daily	rate	by	the	

daily balance for the Project Window.

•	 	Third,	we	add	the	interest	amount	to	the	daily	balance,	and	the	sum	will	become	the	beginning	Project	Window	

Balance for the following day.

Your interest charge for the billing cycle is the sum of the interest amounts that were charged each day during the 
billing cycle for each Project Window. We charge a minimum of $1.00 of interest in any billing cycle in which you 
owe interest.

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 will be the sum of the payment due for each Project Window Balance (each, a “Project Window Minimum Payment”). In addition, 
your total minimum payment will also include any past due amounts, insurance or debt cancellation premiums, if any, and any fees assessed during the prior 
billing cycle. During the Purchase Period for a Project Window, the Project Window Minimum Payment will be the greater of (i) $35, or (ii) 1% of the Project 
Window Balance. After the Purchase Period for a Project Window ends, the Project Window Minimum Payment will be the greater of (i) $35, or (ii) the amount 
of the fixed Project Window Minimum Payment calculated at the end of the Purchase Period, as follows. When your account is opened, you will be assigned 
a  repayment  period  (the  “Repayment  Period”).  At  the  end  of  each  Purchase  Period,  a  Project  Window  Minimum  Payment  will  be  calculated  by  adding  to 
the Project Window Balance the estimated interest through the end of the Repayment Period, and dividing that number by the number of months in your 
Repayment Period. Only for purposes of this calculation, we will assume that all account payments are made on the payment due date each month. If a Project 
Window Balance is less than $35, the Project Window Minimum Payment will be equal to the Project Window Balance. We may in our discretion increase your 
total minimum payment if, due to increases in your account balance, or for other reasons, an increase is needed to ensure that your account balance will be 
appropriately reduced each time you make a payment.

SECTION III: STANDARD PROVISIONS  
LOWE’S PROJECT 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 to make purchases 
of goods or services from Lowe’s locations, including on Lowes.com. The first purchase that you make during each Project Window must be in an amount 
of at least $1,000. 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 reserve the right to select the method by which payments and credits are allocated to your account as allowed by applicable 
law. Unless we notify you otherwise, or we make a change that is beneficial to you, if your account includes more than one Project Window Balance, your 
payment will be allocated in the following order:

1.  Past Due Amounts. If more than one Project Window Balance has a past due amount and the payment is not sufficient to fully pay all such past due 
amounts, the payment will be applied on a pro rata basis to each past due amount based on the percentage of each past due amount to the total past 
due on the account.

2. Then Late Payment Fees.

3.  Then the Project Window Minimum Payment Amounts. If the payment is not sufficient to fully pay all Project Window Minimum Payments, the payment 
will be applied on a pro rata basis to each Project Window Minimum Payment based on the percentage of each Project Window Minimum Payment to 
the total of all Project Window Minimum Payments.

4.  Then All Remaining Balances. The payment will be applied to all remaining Project Window Balances in the order of highest APR to lowest APR. If two 
or more Project Window Balances have the same APR and the payment is not sufficient to fully pay all such Project Window Balances, the payment 
will be applied on a pro rata basis to each such Project Window balance based on the percentage of each such Project Window balance to the total of 
all of the Project Window balances with the same APR. Balances in Project Windows that are still within the Purchase Period will only be paid after all 
other balances on the account have been paid.

The payment allocation method that we use may result in higher interest on your account or reduced savings attributed to any special promotions.

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 1-800-291-9329. 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 PROJECT 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 PROJECT CARD
T&C PLCC PDF
5/12