Lowe’s Credit Card Class Action Settlement

Lowe’s Home Centers has reached a class action lawsuit settlement concerning Lowe’s branded GE Money Bank credit cards. If you made a payment on your Lowe’s GE Money Bank card at certain Lowe’s stores between 2005 and 2008, you may be eligible to receive a free Lowe’s gift card worth up to $40 from the class action settlement.

The Lowe’s credit card settlement will resolve a class action lawsuit, styled Masters v. Lowe’s Home Centers, Inc., that alleges Lowe’s violated the Fair and Accurate Credit Transactions Act (FACTA) by printing more than the last four digits of the class members’ credit card numbers solely on receipts for payments on their Lowe’s GE Money Bank credit cards. Lowe’s denies that it did anything wrong or printed any credit card holders’ account numbers, but has agreed to settle the class action lawsuit for $7 million to resolve litigation.

You’re considered a class member of the Lowe’s credit card class action settlement if you currently have or had a Lowe’s branded GE Money Bank credit card and made a payment on the card balance at a new Lowe’s store between January 1, 2005 and December 3, 2006, or at any Lowe’s store between December 4, 2006 and March 24, 2008. (A new Lowe’s store is one that opened after January 1, 2005. You can see the list of these eligible new stores here.)

Lowe’s will be giving gift cards to all eligible claimants under the class action settlement. Depending on the number of claims received, the maximum value of the Lowe’s gift card will be $25 if one payment was made at a Lowe’s store, $33 if two payments were made, and $40 if three or more payments were made. In order to receive a gift card, you must submit a valid claim form online at www.PaymentReceiptSettlement.com or postmarked by September 1, 2011.

For detailed information on how to submit a valid claim form and receive your free Lowe’s gift card from the Lowe’s GM Money Bank Credit Card Class Action Lawsuit Settlement, see our entry in the Open Lawsuit Settlements section.