The Lowe’s Business Rewards card from American Express is a versatile credit card tailored specifically for business owners and contractors who frequently shop at Lowe’s. This card offers several valuable rewards and benefits, particularly for those who make regular purchases at Lowe’s or through Lowe’s professional services.

One of its key selling points is the opportunity to earn cashback on Lowe’s purchases, including a special promotion offering 5% cashback for the first six months. Additionally, the card provides flexible rewards for other common business expenses, making it a solid option for those looking to manage their expenses while earning valuable cashback.

Key information about the Lowe’s Business Rewards card

The Lowe’s Business Rewards card offers a range of features designed to reward business spending while offering practical benefits. Cardholders can earn 5% cashback on eligible Lowe’s purchases for the first six months, which then drops to 2% thereafter.

This makes the card especially appealing to businesses planning significant purchases or renovations in the short term. Beyond Lowe’s, the card also earns 2% cashback at U.S. restaurants, office supply stores, and wireless telephone services. All other purchases earn 1% cashback, ensuring that cardholders can benefit from everyday business spending.

How does the annual fee work?

The Lowe’s Business Rewards card has no annual fee, which is a major benefit for small businesses and contractors looking to minimize their overhead costs. Without an annual fee, cardholders can take full advantage of the cashback rewards and other perks without worrying about a recurring charge each year.

How is the credit limit determined?

The credit limit for the Lowe’s Business Rewards card is determined by American Express based on the creditworthiness of the applicant. During the application process, the issuer reviews factors such as the business’s financial history, the owner’s personal credit score, and other factors like income and outstanding debts. The credit limit is generally set to reflect the business’s ability to manage and repay the balance.

Credit card benefits 

• 5% cashback at lowe’s for the first six months: Earn 5% cashback on eligible purchases at Lowe’s during the first six months of card membership.
• 2% cashback at lowe’s after the introductory period: After the first six months, continue to earn 2% cashback on all purchases made at Lowe’s.
• 5% discount every day at lowe’s: Get an ongoing 5% discount on every eligible purchase made at Lowe’s, both in-store and online.
• 2% cashback on business expenses: Earn 2% cashback on purchases at U.S. restaurants, office supply stores, and wireless services.
• No annual fee: Enjoy all the card’s benefits without paying an annual fee, making it cost-effective for businesses of all sizes.
• Flexible reward redemption: Cashback is earned as Lowe’s Business Rewards points, which can be redeemed for statement credits or gift cards, giving cardholders options for how they use their rewards.

5% cashback at lowe’s

The standout feature of the Lowe’s Business Rewards card is the generous 5% cashback on all eligible Lowe’s purchases for the first six months of card membership. This offer is perfect for businesses planning to make large purchases or undertake renovations during the initial period. After the first six months, the cashback rate at Lowe’s decreases to 2%, but cardholders can still enjoy the 5% discount on every Lowe’s purchase made throughout the year.

Disadvantages

• High variable APR: The card has a variable APR ranging from 20.99% to 29.99%, which can be costly if balances are not paid off in full each month.
• Limited to Lowe’s for maximum rewards: The highest cashback rate and everyday discount apply only to Lowe’s purchases, meaning businesses that do not shop frequently at Lowe’s may not benefit as much.
• No introductory APR offer: Unlike some other business cards, this card does not offer a 0% introductory APR period on purchases or balance transfers, which may be a disadvantage for businesses looking to finance large purchases over time.

High APR

The main drawback of the Lowe’s Business Rewards card is its high variable APR, which can range from 20.99% to 29.99%, depending on the creditworthiness of the applicant. For businesses that carry a balance month-to-month, this high interest rate can quickly outweigh the benefits of the cashback rewards. It’s important for cardholders to be mindful of paying their balance in full each month to avoid accruing interest charges, which can significantly reduce the card’s value.

Who can apply for this card?

To apply for the Lowe’s Business Rewards card, applicants must meet certain eligibility criteria. Business owners need to provide proof of their business, such as the legal name, address, and tax identification number (TIN) or employer identification number (EIN). Personal information is also required, including the Social Security number of the business owner, as American Express will assess both the business and the owner’s creditworthiness.

There is no minimum income requirement publicly stated, but having a solid credit score and stable business financials will improve the chances of approval. While the card does not explicitly target those with poor credit, businesses with a strong financial history and credit rating are more likely to receive favorable credit limits and terms.

How to apply for the Lowe’s Business Rewards card

Applying online

The application process for the Lowe’s Business Rewards card is straightforward and can be completed online through the American Express website. Once on the website, applicants should locate the Lowe’s Business Rewards card page and click the “Apply Now” button.

This will direct them to the application form, where they will need to provide both business and personal information. After filling out the required fields, including business details, income information, and personal identification, applicants will submit the form for review. In most cases, American Express provides a decision in as little as 30 seconds.

If approved, the card will be mailed to the applicant, and they can begin using it immediately to earn rewards and enjoy the benefits. Applying online ensures a quick and secure way to gain access to the Lowe’s Business Rewards card and start taking advantage of its valuable cashback offers and everyday discounts.