Lowe’s Business Rewards Card from American Express Review

The Lowe’s Business Rewards Card from American Express is best for business owners who frequently shop at Lowe’s. You can earn up to 3x Lowe’s points and access Lowe’s ProServices for discounted delivery and bulk rate pricing. It offers no-interest on purchases for the first six months and an ongoing APR starting at 17.24%.

The best small business credit cards offer up to 5x points, 80,000 bonus points, and 0% APR for up to 15 months. This American Express business credit card comes with several additional card benefits that can increase its value, such as in-store discounts and travel perks. However, the card’s introductory and ongoing rewards fall short of what’s offered on other competitor cards in the market. We rate this card 3.5 out of 5 stars.

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How We Evaluated the Lowe’s Business Rewards Card

The Lowe’s Business Rewards Card offers an introductory 0% APR period for six months on purchases. Additionally, you can earn 3x points on restaurants, office supplies, and wireless phone services, 2x points at Lowe’s home improvement stores, and 5% discounts in-store or online. This American Express business credit card does not carry an annual fee.

Based on what business owners need and want in a card, we considered the following criteria in our evaluation:

• Ongoing rewards: The rewards you’ll earn when you use the Lowe’s Business Rewards Card. This American Express business credit card offers up to 3x points on eligible purchases and 5% discounts in-store or online.
• Introductory rewards: The introductory offer you can earn by reaching a minimum spending requirement. The Lowe’s Business Rewards Card offers 5,000 points after you spend $100 in the first 30 days.
• Annual fee: How much it costs to own the card every year. The Lowe’s Business Rewards Card does not carry an annual fee.
• Additional benefits: Whether the card has additional card benefits and perks. The Lowe’s Business Rewards Card offers card perks including extended warranty protection, purchase and return protection, access to Lowe’s ProServices, and more.
• Intro APR: Whether the card has an introductory 0% APR period. The Lowe’s Business Rewards Card offers a 0% APR period for six months on purchases.
• Ongoing APR: How much it will cost to finance purchases on your card. Once the introductory period ends, the Lowe’s Business Rewards Card has an ongoing APR between 17.24% and 26.24%.

The Lowe’s Business Rewards Card’s introductory and ongoing rewards fall short when compared to the best small business credit cards. However, its additional card features and perks rank above most other small business credit cards. With that being said, these perks can be worth thousands of dollars every year.

How We Evaluate Points Rewards Business Credit Cards

When grading points rewards business credit cards like the Lowe’s Business Rewards Card, we weighed ongoing and introductory rewards the heaviest. We also took into account the annual fee, introductory and ongoing APRs, and additional card benefits. The Lowe’s Business Rewards Card suffers in our evaluation because of its weak introductory offer.

We graded the Lowe’s Business Rewards Card using the following methodology:

Based on our 5-star rating system, where 20 points equals 1 star, the Lowe’s Business Rewards Card would need to improve its introductory and ongoing rewards to earn 4.5 stars. In cases where cards receive perfect scores in most categories, we may award bonus points to boost the card’s rating.

Despite the excellent card features and no-interest period, our grade of 4 stars is appropriate because the Lowe’s Business Rewards Card’s overall rewards fall short when compared to other small business credit cards. A better option for introductory and ongoing rewards is the Chase Ink Business Preferred®, which offers 3x points and 100,000 bonus points after spending $15,000 within the first three months.

Who the Lowe’s Business Rewards Card Is Right For

The Lowe’s Business Rewards Card is best for business owners who are looking to earn Lowe’s points rewards and want in-store discounts. This American Express business credit card offers a 5% in-store discount, which also makes it an excellent option for contractors and fix-and-flippers. The 5% in-store discount can be huge if you spend a lot of money at Lowe’s, especially if you also take advantage of the Lowe’s ProServices features.

You can also earn up to 3x Lowe’s rewards points for every dollar spent and tap into six months of no-interest financing. However, if you’re looking for a card with a longer 0% APR period, consider one of the best no-interest business credit cards.

Lowe’s Business Rewards Card Costs

The Lowe’s Business Rewards Card has no annual fee and offers a 0% APR period for the first six months on purchases. Once the promotional period ends, this American Express card will carry an ongoing APR between 17.24% and 26.24%.

Financing costs and fees on this American Express business credit card include:

• Introductory APR: 0% for the first six months on purchases
• Ongoing APR: 17.24% to 26.24%, which changes with the prime rate
• Annual fee: None
• Balance transfer fee: Transfers are not allowed
• Foreign transaction fee: 2.7% of each transaction after conversion to U.S. dollars
• Cash advance fee: $5 or 3%, whichever is greater (cash advance APR is 26.74%)
• Late payment fee: Up to $39
• Returned payment fee: $39
• Penalty APR: 29.99% for a minimum of 12 billing period in a row, and will continue to apply until you’ve made timely payments for 12 consecutive billing periods

The Lowe’s Business Rewards Card is a more inexpensive card option compared to other small business credit cards. The Capital One® Spark® Miles for Business credit card, for example, carries an annual fee of $95, which is waived over the first year. Plus, the Capital One® Spark® Miles for Business doesn’t offer a 0% APR period and has a variable ongoing APR of 18.49%.

How to Avoid Paying Interest on the Lowe’s Business Rewards Card

To avoid interest on the Lowe’s Business Rewards Card, you’re required to pay your entire balance by the due date each month. Your due date is at least 25 days after the close of each billing period. However, for the first six months, you will avoid interest altogether because of the introductory 0% APR period. Other competitors sometimes have a shorter payment window. For example, the Chase Ink Business Preferred® has a payment window of at least 20 days after the close of each billing period.

Lowe’s Business Rewards Card Rewards

The Lowe’s Business Rewards Card offers 5,000 introductory bonus points when you spend $100 in purchases within the first 30 days. You can earn 3x points at restaurants, office supply stores, and on wireless phone services purchases. Plus, you will earn 2x points on purchases at Lowe’s and 1x points on all other purchases.

Introductory Rewards

The Lowe’s Business Rewards Card offers the following introductory rewards:

• 5,000 bonus points after you spend $100 in purchases within the first 30 days

The Lowe’s Business Rewards Card introductory offer of 5,000 bonus points doesn’t compare well to some of the best small business credit cards. For example, the Chase Ink Business Cash^SM offers 80,000 bonus points after you spend $5,000 within the first three months of having your card.

Ongoing Rewards

The Lowe’s Business Rewards Card offers the following ongoing cash back rewards:

• 3x points at restaurants and office supply stores in the U.S. and on wireless telephone services purchased directly from U.S. service providers
• 2x points at Lowe’s
• 1x points on other purchases
• 5% discount at Lowe’s
• Lowe’s ProServices, which provides discounted delivery, bulk rate pricing, the Business Replenishment Program, and dedicated account management

A major benefit of the rewards offered on the Lowe’s Business Rewards Card is that you can earn Lowe’s points on purchases with other merchants. Other small business credit cards offer similar reward structures. For example, the Chase Ink Business Preferred® offers 3x points for each dollar on the first $150,000 spent on travel, shipping purchases, internet, cable, phone services, and advertising purchases.

Rewards Restrictions

The Lowe’s Business Rewards Card won’t give rewards for the following:

• Interest charges
• Cash advances
• Travelers checks
• Purchases or reloading of prepaid credit cards
• Purchases of gift cards
• Person-to-person payments
• Any cash equivalents

Much like other points rewards small business credit cards, the Lowe’s Business Rewards Card won’t reward points for fees related to the card. With that being said, you can expect reward restrictions to be mostly the same on credit cards that offer cash back or points rewards.

How You Can Redeem Your Rewards

The four ways you can redeem Lowe’s Business Rewards Card rewards are:

• Lowe’s® Gift Card: Redeem your points for a Lowe’s® Gift Card to use at Lowe’s stores or online at Lowes.com or LowesforPros.com.
• American Express® Gift Card: Redeem your points for an American Express® Gift Card to use in the United States anywhere American Express is accepted.
• Outdoor Rewards Card: Redeem your points for an Outdoor Rewards Card to use at Cabela’s®, Bass Pro Shops®, Austad’s Golf, and L.L.Bean®.
• Gas Rewards Card: Redeem your points for a Gas Rewards Card to use at gas stations in the United States that accept American Express Cards.

All gift card options through Lowe’s are available in $25, $50, and $100 denominations. Additionally, redemption starts at 2,500 points for all gift card options except the American Express® Gift Card. Redemption for the American Express® Gift Card starts at 3,500 points.

In comparison, with the Chase Ink Business Preferred®, you can redeem your points for travel, cash back, or gift cards. When you redeem your points for cash back or gift cards, they’re worth one cent per point. When you redeem them for travel through the Chase online portal, they’re worth 1.25 cents per points.

Lowe’s Business Rewards Card Additional Features

The Lowe’s Business Rewards Card offers a handful of additional card features that may increase its value to some business owners. These card benefits include a roadside assistance hotline, purchase and return protection, extended warranty plan, baggage insurance, car rental coverage, global assistance hotline, and account management tools. These perks are far superior when compared to most small business credit cards.

The additional card features the Lowe’s Business Rewards Card offers are:

Roadside Assistance

The Lowe’s Business Rewards Card provides a 24-hour roadside assistance hotline that can be used to request a tow truck driver or locksmith. Although the roadside assistance hotlines comes at no additional cost, you’re responsible for any additional goods or services provided.

What’s Covered With the Lowe’s Business Rewards Card Roadside Assistance Hotline

The following services can be provided for an additional fee:

• Towing
• Winching
• Jump-starts
• Flat tire change
• Lockout services
• Delivery of up to two gallons of fuel

In comparison, other small business credit card competitors don’t offer a 24-hour roadside assistance hotline. For instance, the Chase Ink Business Preferred® and Capital One® Spark Miles® for Business don’t give cardholders the ability to call a roadside assistance hotline. If you want a card that includes these services at no additional cost, the American Express Business Platinum Card® would be a good option.

What the Lowe’s Business Rewards Card Roadside Assistance Hotline Excludes

The following vehicles and services are not covered by roadside assistance:

• Rental vehicles
• Motorcycles
• Taxicabs
• Unlicensed vehicles
• Tractors and trucks weighing 10,000 pounds or more

The roadside assistance hotline offered through the Lowe’s Business Rewards Card won’t provide services for the vehicles listed above. Additionally, this service is unique to American Express. With that being said, exclusions here are common across American Express business credit cards.

Purchase Protection

American Express will cover purchased items that were stolen or damaged within 120 days from the date of purchase (90 days for New York residents). To be eligible, you must purchase an item entirely on your Lowe’s Business Rewards Card. Purchase protection is limited to $1,000 per incident and $50,000 per year.

What’s Covered With the Lowe’s Business Rewards Card Purchase Protection

The Lowe’s Business Rewards Card only covers items that were either stolen or damaged within 120 days of the purchase date. New York residents, however, are only covered for a 90-day window. In comparison, the U.S. Bank Business Select Rewards Card covers purchased items from damage or theft within 90 days from the purchase date.

What the Lowe’s Business Rewards Card Purchase Protection Excludes

Purchase protection does not cover the following types of purchases:

• Perishable or consumable items
• Stolen or damaged purchased items in a pair
• Tickets of any kind, travelers checks, and negotiable instruments
• Gift cards or certificates
• Cash or its equivalent
• Rare stamps or coins
• Animals or living plants
• One-of-a-kind items
• Previously owned items
• Motorized vehicles and their parts or accessories
• Leased items
• Household fixtures and business fixtures
• Items purchased for use as inventory

Typically, business credit cards that offer purchase protection will cover purchases between a 90- or 120-day window. Although the U.S. Bank Business Select Rewards Card credit card offers a similar window of coverage to American Express, its coverage is limited to $500 per incident and $50,000 per year. Exclusions here are common across small business credit cards.

Extended Warranty Protection

American Express offers extended warranty protection on items that come with an original manufacturer’s warranty of up to five years. American Express will provide up to an additional two years of warranty to items that were purchased entirely on the Lowe’s Business Rewards Card. This extended warranty plan outranks competitors.

What’s Covered With the Lowe’s Business Rewards Card Extended Warranty Protection

The Lowe’s Business Rewards Card extended warranty protection plan covers purchased items with original manufacturer’s warranties of up to five years. Conversely, the Capital One® Spark® Miles for Business credit card offers an extended warranty protection plan that only covers purchased items with original manufacturer’s warranty of three years or less.

What the Lowe’s Business Rewards Card Extended Warranty Protection Excludes

The following purchases are not covered by extended warranty protection:

• Products covered by an unconditional satisfaction guarantee
• Animals or living plants
• Consumable or perishable items with extended or limited lifespans
• Motorized vehicles
• Motorized devices and their parts
• Business fixtures
• Land or buildings
• More than one article in a set
• Additional service contract or extended warranty coverage for a computer
• Items purchased for inventory

The extended warranty protection exclusions on the Capital One® Spark® Miles for Business credit card and Lowe’s Business Rewards Card are similar. Even more, exclusions here are common across most small business credit cards.

Travel Accident Insurance

The Lowe’s Business Rewards Card offers a travel accident insurance plan that covers up to $100,000 in losses. The loss must have happened within 100 days after the accident which caused the injury. Plus, the trip fare must have been charged entirely on your American Express business credit card. American Express travel accident insurance outranks most small business credit cards.

What’s Covered With the Lowe’s Business Rewards Card Travel Accident Insurance

The Lowe’s Business Rewards Card covers losses such as if you die or lose a limb, sight, speech, or hearing. In comparison, this outranks most small business credit card competitors. For example, the Chase Ink Business Preferred® doesn’t offer travel accident insurance to cardholders.

What the Lowe’s Business Rewards Card Travel Accident Insurance Excludes

The following aren’t included in American Express travel accident insurance:

• Injury while serving as an operator or crew member
• War or acts of war
• Self-inflicted injury or threat
• Injuries while driving
• Injury while riding as a passenger in, boarding, or leaving from a rental vehicle
• Injuries as a result of commuting
• Stroke, cardiovascular accident, or heart attack
• Blood clot, aneurysm, or deep vein thrombosis
• Sickness, physical weakness, or pregnancy

These travel accident insurance exclusions are identical to all American Express business credit cards. With that being said, these exclusions are usually similar across small business credit cards that offer travel accident insurance.

Baggage Insurance Plan

American Express baggage insurance plan covers carry-on bags, checked bags, and high-risk items that are lost in direct transit. When you use the Lowe’s Business Rewards Card, you have coverage between $250 and $1,250. There are other business credit card competitors that offer a better coverage plan.

What’s Covered With the Lowe’s Business Rewards Card Baggage Insurance Plan

The baggage insurance plan will cover the following:

• Up to $1,250 for baggage lost in direct transit
• Up to $1,250 for lost carry-on baggage
• Up to $500 for lost checked baggage
• Up to $250 for lost high-risk items (e.g., furs, jewelry, or sporting and electronic equipment)

There are other small business credit cards that offer a slightly better baggage insurance plan. The Capital One® Spark® Miles for Business credit card, for example, offers coverage up to $3,000 for checked and carry-on baggage ($2,000 for New York residents).

What the Lowe’s Business Rewards Card Baggage Insurance Plan Excludes

The following items are not covered by the baggage insurance plan:

• Cash or its equivalent, notes, accounts, bills, food stamps, or evidences of debt
• Credit cards and other travel documents
• Securities
• Tickets and documents
• Living plants and animals
• Food, consumable, and perishable items
• Eyeglasses, sunglasses, and contact lenses
• Hearing aids
• Artificial teeth and artificial limbs
• Prescription drugs
• Non-prescription drugs
• Property shipped as freight

The Capital One® Spark® Miles for Business credit card, like other American Express business credit cards, only offers baggage insurance coverage if you charged your entire trip fare to your eligible business credit card. With that being said, baggage insurance exclusions are common across small business credit cards that offer this additional card perk.

Car Rental Loss & Damage Insurance

American Express offers car rental loss and damage insurance for up to $50,000 per car rental agreement. Even more, this coverage is only good for the first 30 days of a car rental agreement. You must charge the complete car rental fee to the Lowe’s Business Rewards Card to be eligible.

What’s Covered With the Lowe’s Business Rewards Card Car Rental Loss & Damage Insurance

The lesser of the following is covered by the car rental loss and damage insurance:

• The actual cost to repair the rental car
• The wholesale book value of the rental vehicle, minus salvage and depreciation costs
• The purchase invoice price of the rental vehicle, minus salvage and depreciation costs

In comparison, the Capital One® Spark® Miles for Business credit card offers an auto rental collision damage waiver that covers a rental vehicle for the first 31 consecutive days of a rental period. Plus, the benefit provides reimbursement for damage due to collision or theft up to the cash value of most rental vehicles.

What the Lowe’s Business Rewards Card Car Rental Loss & Damage Insurance Excludes

The following losses are not covered by the car rental loss and damage insurance:

• Intentional damage by the authorized driver
• Damage that happened prior to the rental period
• Manufacturing defects
• Confiscation by the law
• Wear and tear, including gradual deterioration
• Damage by freezing
• Theft or damage to unlocked rental vehicles
• Theft of or damage to tires
• Damage of any other vehicle
• Damage to any property other than the rental vehicle

In addition, American Express won’t provide coverage on cargo vans, vans that can seat eight passengers, cars that are at least 20 years old, off-road vehicles, and limousines. Exclusions here are common across small business credit cards that offer car rental insurance coverages.

Global Assist Hotline

The Lowe’s Business Rewards Card gives you the ability to call 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 a number of other emergency services. It’s important to note that you’ll be responsible for any charges by third-party providers.

Services Lowe’s Business Rewards Card Provides

This American Express business credit card offers the following travel and emergency assistance:

• Language translation and interpretation services
• Missing item search
• Passport assistance
• Credit card cancellation assistance
• Delivery of urgent messages 24 hours a day to a family member or friend

This American Express business credit card offers the following medical and legal assistance:

• A database of dentists and doctors in the surrounding area
• Transferring prescriptions from your home pharmacy
• Medical care monitoring while traveling
• Medical transportation
• Find nearby bail bond agencies that take your card
• Provide referrals for embassies
• Provide referrals for English-speaking lawyers

The U.S. Bank Business Select Rewards Card has a similar additional card feature, which also provides travel, emergency, medical, and legal assistance. Like American Express, this is a concierge service and cardholders are responsible for the cost of any assistance. This is a standard feature for travel credit cards.

Account Management Tools

There are several account management tools that come with the Lowe’s Business Rewards Card. Business owners can manage their account directly from their computer or mobile device. Employees can also upload photos of their receipts through the mobile device app for expense reporting. Plus, business owners can connect their account to QuickBooks to have transaction data transferred automatically.

Lowe’s Business Rewards Card account management tools are:

• Desktop programs: Business owners can manage their accounts directly from their computers to pay their bills, track employee expenses, and manage employee cards.
• American Express mobile device app: Business owners can access similar features using the desktop program through a mobile device app. They can control employee cards, flag unusual transactions, and pay their bills. Plus, employees are able to upload photos of their receipts directly to the app, which can expedite expense reporting.
• QuickBooks connection: Business owners have the option to connect their Lowe’s Business Rewards Card to a QuickBooks account and have their transaction data transferred automatically.

In comparison, the U.S. Bank Business Select Rewards Card offers several spending control and protections that can help you manage business-related risk. For example, it offers a liability waiver program that helps protect against card theft by previous employees. This liability waiver is unique to U.S. Bank.

Adding Lowe’s Business Rewards Card Employee Cards

You can issue up to 99 employee Lowe’s Business Rewards Cards at no additional cost. Employee cards are an excellent way to get company funds in the hands of your employees. If you think you’ll need more than 99 cards, a good card option would be the Chase Ink Business Preferred®.

What the Lowe’s Business Rewards Card Is Missing

The Lowe’s Business Rewards Card needs to make significant improvements on the introductory offer. When redeemed for a Lowe’s® Gift Card, the introductory rewards are only worth $50. If you want to earn substantial introductory rewards, an excellent card would be the Chase Ink Business Preferred®. It offers 100,000 bonus points after you spend $15,000 in the first three months.

Lowe’s Business Rewards Card Reviews

We read through several user reviews online and found Lowe’s Business Rewards Card reviews to be mostly positive. Cardholders especially love the 5% Lowe’s discount and how they can earn Lowe’s points at other merchants. There are a few complaints about the lack of flexibility in rewards redemption.

How to Apply for the Lowe’s Business Rewards Card

You can apply for the Lowe’s Business Rewards Card online. To get a business credit card, you’ll be required to provide your basic business and personal information. Typically, you’ll receive a decision immediately. Once you’ve been approved, you’ll receive your card within seven to 10 days. If you’re not approved immediately, you can check your application status on the American Express website.

How to Log In to Your Lowe’s Business Rewards Card Account

You can log in to your Lowe’s Business Rewards Card account online with your user ID and password. If you need help, you can contact customer service through the American Express website or you can call (800) 492-3344.

Other American Express Business Credit Cards

American Express also offers a ton of other strong business credit cards beyond the Lowe’s Business Rewards Card. You may want to consider another American Express business credit card if you want more point redemption flexibility or a more substantial introductory reward.

The other American Express business credit cards are:

• American Express Business Platinum Card®: A strong card option for business owners who have high travel expenses. Cardholders can earn maximum travel rewards on eligible purchases and have access to American Express premium travel perks.
• American Express® Business Gold Card: Best for business owners who travel frequently and want to earn rewards in the spending categories where they spend the most each month. Cardholders will also have access to additional card benefits.
• The Plum Card® from American Express: An excellent charge card for business owners who want to have payment flexibility. Cardholders can earn pay early discounts or unlock pay later, no interest financing.
• American Express Blue Business® Plus Credit Card: An excellent rewards card for business owners who want to save money on just about all of their purchases. Cardholders can also carry a balance for an extended period of time without accruing interest charges.
• Hilton Honors American Express Business Credit Card: Best for business owners who primarily book their hotel night stays with Hilton hotels. Cardholders can earn an introductory bonus when they meet a minimum spending requirement.
• Marriott Bonvoy Business^TM American Express® Card: Best for business owners who frequently book their night stays with Marriott Bonvoy hotels. Cardholders will earn ongoing rewards for Marriott-related purchases.
• Delta SkyMiles® Reserve Business American Express Card: A great card option for loyal Delta Airlines customers. Cardholders can access premium American Express travel perks and earn an introductory bonus offer.
• Delta SkyMiles® Platinum Business American Express Card: Another strong card option for business owners who are frequent Delta Airlines flyers. Cardholders will earn ongoing points rewards for Delta-related purchases and can earn an introductory bonus.
• Delta SkyMiles® Gold Business American Express Card: The least expensive Delta card offered by American Express. It’s best for business owners who primarily fly with Delta and want to tap into American Express travel perks.
• Amazon Business Prime American Express Card: A solid card option for business owners with Amazon Prime memberships. Cardholders can earn rewards or options for free financing on purchases at Amazon-owned businesses, including Whole Foods Market and Amazon Web Services.
• Amazon Business American Express Card: A great card choice for business owners without an Amazon Prime membership. Cardholders can earn rewards or get free financing on purchases at Amazon-owned companies, such as Whole Foods Market and Amazon Web Services.
• American Express Business Green Rewards Card: Best for business owners who want a charge card that offers travel rewards. Cardholders can also earn an introductory bonus offer by meeting a minimum spending requirement.

Alternatives to the Lowe’s Business Rewards Card

If you want a business credit card that offers better point redemption flexibility, it may be best to consider an alternative to the Lowe’s Business Rewards Card. Other alternatives offer more substantial introductory rewards, fixed travel rewards, and different rewards redemption options.

3 Alternatives to the Lowe’s Business Rewards Card

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