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Lowes Excessive Interest

We contracted through Lowe's to have our roof replaced on our home recently. It costs over around $7,000.00. It was no interest for 18 months. We also had new gutters installed as well as 2 new garage doors and storm door. In addition we spent over 3,000.00 on wood flooring that we installed ourself. I understood the new roof was separate from the other purchases. My wife was paying on time every month and then all of a sudden we get a bill with 3,000.00 added interest to our account because it was not paid within the 18 month period. Needless to say, I was extremely upset about this and immediately called their customer service department. They said they would give me 30 days to pay the balance off to defray the added interest charges. Of course we could not afford that. So now we are paying additional interest on the 3,000.00 interest they added to our account. How is that legal? I am going to use any means legally available to protest this excessive - *** it's criminal to do this in my opinion. Has anyone else had this problem? Does anyone have information concerning who to talk to about this. We went with Lowe's instead of local contractor because we thought they would stand behind their work, however I WILL NEVER purchase from them again and I intend to fight this anyway I can. This is nonsense.
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I can pretty much guarantee that you agreed to pay in excess of 20% interest when you applied for the account, you just have to read the agreement you signed. As far as the no interest promotions go they pretty well spell out that you will pay interest from the date of purchase if you don't pay the charges in full before the end of the no-interest period.

You also need to understand you are not dealing with Lowes for your credit account. The credit is handles by a separate company that you have contracted with for financing.


What did the paperwork you signed state?


paperwork not the problem- its how they add additional purchases to a contracted purchase- roof replace, instead of keeping separate. Then dropping the 4000.00 in interest on ALL purchases instead of keeping separate.

When we got the bill we called to work a solution and given 30 days to pay all off was their answer. We would have paid for roof upfront if we had that kind of money laying around. However like most we did not so we are now paying interest added to our bill for the interest added to our bill by their shadowy billing methods.

We would like to pay this off and can now, but I have a problem with paying 4,000.00 applied interest after the fact. They should not be allowed to add additional charges to a zero interest purchase that was around 7,000.00 by itself.


Did you read the terms and conditions of the credit card you used to make the purchase?


Of course I did. That is not the problem- the problem is shady billing methods- we made a large single purchase- roof replacement- costing upwards of 7,000.00.

We went with Lowes because we knew they stand behind contractors. We took the 18 months zero interest and then went to them for other purchases thinking these charges would be kept separate from the roof purchase, however they added these to the roof contract purchase- we thought they be kept separate like other we have bought from. We were hit with a bill that added almost 4,000.00 in interest without advance that coming up. We called to discuss a solution and only one offered was pay entire balance due within 30 days- then they waive.

We did not have that kind of money laying around so we had no other option but keep paying a now much inflated bill- due to the added interest or default.

So we are paying still however we now able to pay off entirely but I want adjustment on my bill concerning the interest before doing so. I have reached out to them again but so far nothing.


Hi Keith,

There is a place when you are logged onto your Lowes acct. giving you the option to select how your monthly pmts are applied.

Such as apply to all promotional balances first then the rest on any other balance on the card. I found this out the hard way about halfway through paying on an 18 month interest free purchase myself. Not sure if it will help or not but I contacted Lowes letting them know I didn't know about this option on line and asked for a review of my account and told them I specifically split my payment up to pay the correct amount each month to pay off the purchase in 18 months but according to my statement this wasn't happening. They reviewed my statement and pmt history and went back 7 months and applied the pmts correctly which got me back on track with having the purchase paid off in time to avoid interest.

But now I am fighting with them over their ridiculously high APR. I have paid all of my stuff on time and when I asked for a review to lower my APR I was met with A LOT of resistance! Not happy!

Hope my reply can maybe help you out a bit. Thank you and Good luck!!!

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#955404 Review #955404 is a subjective opinion of poster.
Lowes Loan
  • Established home improvement company
  • Not being honorable in business and promises
  • Deceptive billing
  • Uninformed
Reason of review
Deceptive Billing
Preferred solution
Let the company propose a solution
  • Refused Veterans Discount
  • Never Asked

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