The Lowe’s Business Credit Card Review for 2020

Filling out the Lowe’s business credit card application? Read this review first.

Overview

Card Overview

The AMEX Lowe’s business credit card offers a 5% discount on all Lowe’s purchases along with 3x Lowe’s rewards for every dollar you spend at restaurants, offices supply stores, and telephone services. Plus, unlike other store cards, you’ll be able to use the Lowe’s business credit card outside of Lowe’s and Lowes.com.

Lowe’s Business Credit Card: Intro Rates

Your APR for any balance you carry will set in at a variable that will depend on your credit score at the time you fill out the Lowe’s business credit card application.

If you want to take out a cash advance with your Lowe’s business credit card, you’ll pay a set APR that will be much higher than your regular APR, no matter your credit score. Finally, no matter how creditworthy you are, you’ll also pay a penalty APR for late or rejected payments.

Be sure to keep in mind that all of these rates will shift according to the market based on what credit card issuers like to call the “Prime Rate.” They base all of their APRs off of this number that shifts with the market, so be sure to check in on the current rates if you decide to apply for this (or any) credit card.

Lowe’s Business Credit Card Rewards: Ongoing Offer

The main thing that the Amex Lowe’s business credit card can offer that others can’t? Well, that’s easy—it’s Lowe’s-specific perks.

You’ll get a 5% discount on any Lowe’s purchase you make with this card, which—be sure to note—you won’t be able to use this card discount in conjunction with any other Lowe’s offers or discounts.

You’ll get 3 Lowe’s Business Rewards Points for every dollar you spend at:

  • Restaurants
  • Office supply stores
  • Monthly wireless telephone services in the U.S.

Plus, for every dollar you spend with your card at Lowe’s or on Lowes.com, you’ll receive 2 Lowe’s Business Rewards Points. Finally, you’ll earn 1 Lowe’s Business Rewards Point for every other dollar you spend outside of these categories.

After you compile a minimum of 2,500 Lowe’s Business Rewards Points, you’ll be able to redeem them as a variety of gift and rewards cards like Lowe’s and American Express gift cards and gas rewards cards.

Lowe’s Business Credit Card: Annual Fee

Here’s some good news—the Amex Lowe’s business credit card doesn’t come with one.

But that’s not the only fee you’ll need to look into before submitting your Lowe’s business credit card application.

Be sure to note that you’ll be charged either $5 or 3%, depending on which is larger, for any cash advances you take out with your Lowe’s business credit card. You’ll also be charged 2.7% for any spending you do abroad with this card. So, if you do a lot of your business spending abroad, you could rack up some hefty fees with this card.

Before signing the dotted line on your Lowe’s business credit card application, be sure to look into how hospitable (or inhospitable) these fees would be for your business spending habits.

Is the Lowe’s Business Credit Card Right for You?

Get the Lowe’s Business Credit Card if:

  • You’re looking for a store card with diverse top-earning categories.

Skip the Lowe’s Business Credit Card if:

  • You want flexibility in rewards redemption.

Why the Lowe’s Business Credit Card?

Having picked apart all of the details you’ll find in the fine print of the Lowe’s business credit card application, let’s take a moment to zoom out a bit.

Which of these details are points for the Lowe’s business credit card, and which of these details are points against the Lowe’s business credit card?

Let’s first take a look at the card’s biggest draws—the main reasons you should consider hitting “submit” on you Lowe’s business credit card application:

No Annual Fee

First and foremost, the Lowe’s business credit card comes with one of the biggest perks a card can boast—being free!

You won’t have to pay an annual fee for the Lowe’s business credit card, so you won’t have to measure the value you access through the Lowe’s business credit card against the value you have to pay to access them, as you might have to do with other business credit cards with an annual fee.

This one Lowe’s business credit card feature makes all of the other upsides it offers that much sweeter.

Divers Top-Earning Spending Categories

In contrast to many other store business credit cards, the Lowe’s business credit card will work for purchases outside of Lowe’s and Lowe’s.com.

Even better?

You’ll be able to earn for this non-Lowe’s spending—and you’ll be able to earn at the card’s top tier rates, as well.

Even though this is the Lowe’s business credit card, it will reward you the most—3x points for every dollar you spend—for your spending on restaurants, office supply stores, and wireless phone services, which is pretty rare for a store-specific card.

Keep in Mind With the Lowe’s Business Credit Card

For all of its virtues, the Lowe’s business credit card—just like any business credit card out there—is far from perfect.

And before you submit your Lowe’s business credit card application and get that hard credit inquiry as a result, you’ll want to make sure you’re familiar with all of the features—both good and bad—that the Lowe’s business credit card entails.

Here are the main downsides to choosing the Lowe’s business credit card for your business spending:

Limited Rewards Redemption

First off, you’ll only really be able to redeem the rewards you earn with this card for, well, other cards—think Lowe’s gift cards, AMEX gift cards, and gas cards.

Meanwhile, many business owners will prefer to redeem their rewards as a statement credit or as travel. And the Lowe’s business credit card simply can’t offer those redemption options.

If you’re looking to apply the rewards value you’ve earned to paying your credit card bills or purchasing business travel, then think twice before submitting your Lowe’s business credit card application. all of the other upsides it offers will be that much sweeter.

Rewards Redemption Minimum

Not to mention, should you decide that you’re okay with only redeeming your rewards as gift cards, you’ll have to wait until you accumulate a certain amount of points before you do any redeeming.

That’s right—you’ll only be able to access your rewards value once you earn 250,000 Lowe’s points with your Lowe’s business credit card, which can be frustrating for business owners who do less spending and will take longer to reach this redemption minimum.

If you’re unsure that you’ll earn at least 250,000 points, or you want access to your rewards whenever you deem fit, then you should also hesitate on the Lowe’s business credit card.

No Intro Perks

Finally, you’ll notice that the Lowe’s business credit card doesn’t offer a single intro perk to sweeten the deal.

All the while, the other top business credit cards on the market will be able to offer you welcome offers, 0% intro APR periods, and sometimes even both.

Though welcome perks might seem like fancy perks that you don’t actually need, missing out on these opportunities could be a huge value lost for your business.

Top Alternatives to the Lowe’s Business Credit Card

Credit Card

Ink Business Preferred® Credit Card

Great For: Point redemption rewards
Apply Now
on Chase's secure website
  • 100,000 point signup bonus if you spend $15K in first 3 months
  • 3x or 1x points depending on how you spend
  • Intro APR

    -

  • Regular APR

    15.99%-20.99% Variable

  • Annual Fee

    $95

  • Minimum Credit

    700+

In This Review