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Lowe’s Business Rewards Card from American Express Review

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By Jordan Tarver on August 28, 2020

Jordan is a financial analyst with over two years of experience in the mortgage industry. He brings his expertise to Fit Small Business’s credit card and bank account content.

This article is part of a larger series on Best Small Business Credit Cards.

Lowe’s Business Rewards Card from American Express

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On American Express's Secure Website

See Rates and Fees

Rating 3.5 3.5
?Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.

Best For: Accessing discounts and rewards at Lowe’s

Intro APR Regular APR Annual Fee Credit Needed
0% 15.74% - 24.74% Variable $0 Good - Excellent
  • 5% off at Lowe's
  • Lowe's ProServices for discounted delivery and more
  • Earn 5,000 Lowe's Business Rewards Points; after you spend $100 in purchases on the Card within your first 30 days of Card Membership
  • $0 annual fee
  • 0.0% introductory APR on purchases for 6 months. After that your APR will be a variable rate, currently 17.24% - 26.24%, based on your creditworthiness and other factors as determined at the time of account opening
  • Use this Card to receive points you can redeem for gift cards and more to use towards business expenses.
  • 3X Points at restaurants and office supply stores in the US, and on wireless telephone services purchased directly from US service providers.
  • 2X Points at Lowe's.
  • 1X Points on other purchases.

Note: The information related to the Lowe's Business Rewards Card from American Express has been collected by Fit Small Business and has not been reviewed or provided by the issuer of this card.

Pros
  • 5% off at Lowe’s
  • Access to discounted Lowe’s delivery
Cons
  • Short 0% APR period on purchases
  • Introductory rewards are only worth $50
  • Lowe’s ProServices: Access benefits with Lowe’s ProServices, including discounted delivery, bulk rate pricing, and the business replenishment p[program.
  • Purchase protection: The issuer covers purchases that are stolen or damaged within 120 days from the date of purchase (90 days for New York residents).
  • Extended warranty protection: Receive up to two years of additional coverage for items with an original manufacturer’s warranty of up to five years.

The Lowe’s Business Rewards Card from American Express is an excellent point-based rewards card designed for business owners who shop at Lowe’s frequently. This small business credit card offers access to Lowe’s ProServices, including discounted delivery, bulk rate pricing, and the business replenishment program. It also offers a 5% in-store discount on eligible purchases at Lowe’s.

Who Lowe’s Business Rewards Card from American Express Is Right For

  • Owners who usually shop at Lowe’s: The Lowe’s Business Rewards Card offers in-store discounts and cardholders can earn reward points on eligible purchases at Lowe’s.
  • Contractors and fix-and-flippers: The Lowe’s Business Rewards Card offers a 5% discount on eligible Lowe’s purchases, making it a practical option for contractors and fix-and-flippers who need to shop for home improvement products frequently.

How We Evaluate Points Rewards Business Credit Cards

When grading points rewards business credit cards like the Lowe’s Business Rewards Card, we weigh ongoing and introductory rewards the heaviest. We also took into account the annual fee, introductory and ongoing annual percentage rates (APRs), and additional card benefits.

Grading Criteria
Card Score
Highest Possible Score
Ongoing Rewards
25
30
Introductory Rewards
10
20
Annual Fee
15
15
Features
15
15
Introductory APR
5
10
Ongoing APR
8
10
Total Score
78
100

Lowe’s Business Rewards Card from American Express Fees

  • Introductory APR: 0% for the first six months from the date of account opening
  • Ongoing APR: 15.74% to 24.74% variable, which changes with the prime rate
  • Annual fee: None
  • Balance transfer fee: Transfers are not allowed
  • Foreign transaction fee: 2.7%
  • Cash advance fee: Either $5, or 3%, whichever is greater; cash advance APR is 25.24%

Lowe’s Business Rewards Card from American Express Rewards

  • 5% discount every day at Lowe’s on eligible purchases
  • 3x points at restaurants and office supply stores in the United States, and on wireless telephone services purchased directly from US service providers.
  • 2x points at Lowe’s
  • 1x point on all other purchases

Welcome offer: Get $100 cash back upon approval, which you can earn automatically as a statement credit

You can redeem your points for a Lowe’s® Gift Card, which you can use at Lowe’s stores. Lowe’s gift cards are available in $25, $50, and $100 denominations. If you have at least 2,500 points, you can redeem for Gas Rewards Card, or for an Outdoor Rewards Card to use at Cabela’s®, Bass Pro Shops®, Austad’s Golf, and L.L.Bean®. You can also redeem for American Express® Gift Card for a minimum of 3,500 points.

Lowe’s Business Rewards Card from American Express Features

Lowe’s ProServices

Cardholders will have access to Lowe’s ProServices, which provides discounted delivery, bulk rate pricing, the Business Replenishment Program, and dedicated account management. This feature is unique to this card, making for another reason Lowe’s customers find this card beneficial.

Roadside Assistance

The Lowe’s Business Rewards Card provides a 24-hour roadside assistance hotline. Although the roadside assistance hotline comes at no additional cost, you’re responsible for any additional goods or services provided. The services available for a fee include towing, winching, jump-starts, flat tire change, lockout services, and delivery of up to two gallons of fuel.

Purchase Protection

Items that were stolen or damaged within 120 days from the date of purchase, or 90 days for New York residents, are covered with purchase protection that is limited to $1,000 per incident and $50,000 per year. Items are eligible if they are charged entirely to your American Express credit card. Certain items are not covered like consumables, tickets, motorized vehicles, fixtures, and preowned items.

Extended Warranty Protection

The Lowe’s Business Rewards Card from American Express offers extended warranty protection up to an additional two years on items that come with an original manufacturer’s warranty of up to five years. Only items that are charged entirely to your Lowe’s Business Rewards Card are eligible. Motorized vehicles, real estate, fixtures, animals, living plants, and items for resale are not covered.

Travel Accident Insurance

The Lowe’s Business Rewards Card offers a travel accident insurance plan that covers up to $100,000 for losses that occur within 100 days after the accident. Losses that are covered include death, or loss of a limb, sight, speech, or hearing. To be eligible, the trip fare must have been charged entirely on your American Express business credit card.

Baggage Insurance Plan

American Express baggage insurance plan provides coverage between $250 and $1,250 for carry-on bags, checked bags, and high-risk items that are lost in direct transit. Some items are not included with this coverage like cash and its equivalent, credit cards, tickets, documents, animals, living plants, prosthetics, drugs, and properties shipped as freight.

Car Rental Loss & Damage Insurance

American Express offers car rental loss and damage insurance for up to $50,000 per car rental agreement. This overage is only good for the first 30 days of a car rental agreement. To be eligible, the full car rental fee must have been charged to your card. Intentional damage, manufacturing defects, wear and tear, theft of or damage to tires, damage of any other vehicle, and damage to any property other than the rental vehicle are not covered.

Global Assist Hotline

The Lowe’s Business Rewards Card gives you access to a 24-hour global assistance hotline any time you travel more than 100 miles away from home. This hotline can connect you to financial, legal, medical, or many other emergency services. While you can call this hotline for free, you will be responsible for any charges by third-party providers.

Lowe’s Business Rewards Card from American Express Alternatives

Chase Ink Business Cash® Credit Card

Ink Business Cash® Credit Card

Apply Now

On Chase's Secure Website

Fit Small Business Review
Rating 5 5
?Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.

Best For: Office-based businesses that want top cash back rewards

Intro APR ?0% APR for 12 months on purchases Regular APR Annual Fee Credit Needed
0% Intro APR on Purchases 13.24% - 19.24% Variable $0
  • Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • Earn 1% cash back on all other card purchases with no limit to the amount you can earn
  • 0% introductory APR for 12 months on purchases
  • Employee cards at no additional cost
  • No Annual Fee
Pros
  • Top rewards for office supply spending
  • Introductory APR on purchases
  • Cash sign-up bonus
Cons
  • 0% APR doesn’t apply to balance transfers
  • High balance transfer fee of 5%
  • Designed mainly for office-oriented companies
  • Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
  • Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
  • Extended warranty protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.

Capital One® Spark® Cash for Business

Capital One® Spark® Cash for Business

Apply Now

on Capital One® Spark® Cash for Business's secure website.

Fit Small Business Review
Rating 4 4
?Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.

Best For: Earning unlimited 2% cash back

Intro APR Regular APR Annual Fee Credit Needed
N/A 20.99% (Variable) $0 intro for first year; $95 after that Excellent, Good
  • Introductory reward worth $500 after you spend $4,500 within the first three months
  • 2% cash back on every purchase
  • Issue employee cards for free
Pros
  • No limit to the amount of rewards you can earn
  • Lucrative welcome offer
Cons
  • Lacks a 0% APR offer
  • Annual fee is only waived for 12 months
  • Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
  • Purchase protection: Covers your new purchases for up to 90 days against damage or theft up to $10,000 per claim.

U.S. Bank Business Select Rewards Card

U.S. Bank Business Select Rewards Card

Apply Now

On US Bank's Secure Website

See Rates and Fees

Fit Small Business Review
Rating 4 4
?Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.

Best For: Earning points rewards in your choice in category spending

Intro APR Regular APR Annual Fee Credit Needed
0%* 11.99% - 22.99%* Variable $0* Excellent
  • Earn 20,000 bonus points after you spend $1000 in eligible net purchases during the first 90 days after opening your account
  • Earn 3 points per dollar on eligible net purchases in one category of your choice: Day-to-Day Expenses, Automobile or Travel & Entertainment
  • Earn 1 point per dollar on other eligible net purchases
  • No cap on total points you can earn
  • No annual fee*
  • Net purchases are purchases minus credits and returns
  • Variable APR currently at 11.99% - 22.99%* Variable
Pros
  • Bonus category rewards on everyday business expenses
  • Interest-free financing period
  • Sign-up bonus offer
Cons
  • Earns top rate in only one spending category
  • Rewards expire after five years
  • Points are non-transferrable
  • Card Auto Rental Collision Damage Waiver: Waive the rental car merchant’s insurance and you’ll be covered in the event the rental vehicle is damaged or stolen, up to the vehicle’s value.
  • Purchase Protection: U.S. Bank will repair or reimburse you for items that were damaged or stolen within 90 days of purchase.
  • Extended Warranty Protection: Get double the warranty protection on manufacturer’s warranties of three years or less.
  • Travel and Emergency Services: Access to 24-hour emergency, medical, travel, and legal assistance.

Bottom Line

The Lowe’s Business Rewards Card from American Express is best for business owners, contractors, and fix-and-flippers who shop for home improvement products frequently at Lowe’s. This point-based rewards card comes with perks, in-store discounts, and charges no annual fee. Visit our credit card marketplace to find other business credit cards that may be right for you.

About the Author

Jordan Tarver

Jordan Tarver is a financial analyst, writer, and editor at Fit Small Business focusing on credit cards and bank accounts. Jordan brings over two years of experience in account management and price analysis in the mortgage industry to Fit Small Business. He is also an accomplished self-published author.

@jordantarv