Lowe's Launches New Project Card
Card allows customers flexible financing solution for major home improvement projects
MOORESVILLE, N.C., March 7 /PRNewswire/ -- Just in time for the spring remodeling season, Lowe's is launching the new Project Card, which provides financing solutions for major home improvement projects. The card allows consumers a six-month project window to make as many purchases as they like without incurring any interest or required payments.
"For many Americans, the home is the biggest investment they'll make in their lifetimes," said Larry Stone, Lowe's senior executive vice president of merchandising and marketing. "Whatever drives your passion to participate in home improvement projects - return on investment, the sense of self- satisfaction or the pride of creating a home that reflects your personal tastes - over time, home ownership proves to be one of the best investments and the project card provides a flexible financial solution for our customers."
Here's how the project card works:
o The customer opens a "project window" with a project purchase of at least $1,000.
o The customer can continue to make purchases during the six-month project window until the project is complete, without having to make any payments or have any interest accrue.
o After the six-month purchase period ends, interest accruals begin and fixed monthly payments begin.
o Another project window can then be opened for another project.
The Project Card is designed for large home improvement projects from total kitchen makeovers, to bathrooms to decks to flooring to energy efficiency upgrades. The Project Card allows customers to complete and begin enjoying their projects before they have to pay.
The Project Card is financed and managed by GE Consumer Finance. For additional details about the card or to apply, go to Lowescredit.com/projectcard.
About Lowe's
With fiscal year 2005 sales of $43.2 billion, Lowe's Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 12 million customers a week at more than 1,225 home improvement stores in 49 states. Based in Mooresville, N.C., the 60-year old company is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.
About GE Consumer Finance
With $163 billion in assets, GE Consumer Finance, a unit of General Electric Company (NYSE:GE), is a leading provider of credit services to consumers, retailers and auto dealers in 47 countries around the world. GE Consumer Finance, based in Stamford, Connecticut, offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at geconsumerfinance.com.
Source: Lowe's Companies, Inc.
CONTACT: Karen Cobb of Lowe's Companies, Inc., +1-704-758-3504, or
karen.s.cobb@lowes.com; or Jennifer Schiavone of GE Consumer Finance,
+1-203-585-6252, or jennifer.schiavone@ge.com
Web site: http://www.lowes.com/
http://lowescredit.com/projectcard
http://geconsumerfinance.com/
