Review of the Lowe’s Business Credit Card Account Options

Brendan Harkness

Brendan Harkness | Reviews

Dec 23, 2014 | Updated Aug 31, 2016

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Lowe’s offers 3 business account options for contractors and small to large businesses, with different features, rewards, and benefits: the Lowe’s Business Account, the Lowe’s Accounts Receivable, and the Lowe’s Business Rewards Card from American Express. The first two can only be used at Lowe’s, but the last can be used anywhere American Express is accepted.

You’ll need to personally guarantee the accounts, or have a business for more than 3 years with established credit. Some let you revolve a balance from month to month, while others require payment in full each month. None of these cards have an annual fee.

See our Business Resources Page for much more about business credit cards

Lowe's Business Account

For People with
Fair Credit

  • Annual Fee: $0
  • Interest Rate: 15.00% - 21.99%
Quick Card Facts
  • Pay overtime with low monthly payments
  • Periodic Lowe's Offers
  • Discounted Delivery: On Lowe's purchases.
  • Fraud Protection: You will not be held responsible for any unauthorized charges on your card.

Lowe's Accounts Receivable

For People with
Fair Credit

  • Annual Fee: $0
  • Interest Rate: 5.00%-18.00%
Quick Card Facts
  • Pay in full each month
  • Purchasing control, can only be used at Lowe's
  • Ability to limit dollar amount on single purchase
  • Individual and consolidated statements for linked primary/secondary accounts with product-level statement detail for each invoice
  • Robust job account management including account level itemized statements, and ability to pay by invoice

Lowe's Business Rewards Card

For People with
Fair Credit

  • Annual Fee: $0
  • Interest Rate: 13.24%, 15.24%, or 18.24% (Variable)
Quick Card Facts
  • Earn 3 points for every $1 spent on restaurants, office supply stores, and wireless telephone services in the U.S.
  • Earn 2 points for every $1 spent at Lowe's
  • Earn 1 point for every $1 spent on all other purchases
  • There is no limit to the amount of points you can earn

The Rewards

With each card, a 5% discount is available for certain purchases from Lowe’s, but this must be asked for at the time of purchase.

The Lowe’s Business Rewards Card

Only the Lowe’s Business Rewards Card from American Express offers points for spending.

3 points per dollar will be earned for eligible purchases at restaurants, office supply stores, and direct purchases of wireless telephone services from U.S. providers.

2 points are earned from purchases at Lowe’s, and 1 point is earned for all other purchases.

Every 2,500 points are redeemable for a $25 gift card to Lowe’s or other stores, gas, or a general American Express gift card.

Learn more about business credit cards

The Benefits

There are a number of similarities between these cards when it comes to the extra benefits, especially the two Lowe’s-specific cards.

Lowe’s Business Account

The Business Account is designed for small-midsized business, and allows you to revolve a balance from month-to-month if you choose. You won’t be held responsible for fraudulent charges. Additional counts can be set up, with credit lines linked to the primary account.

Promotional offers and sale information may be periodically mailed, and deliveries from Lowe’s are discounted.

Monthly statements include invoice and purchase order numbers, itemized transaction details, store locations, and payment tracking.

Up to 6 months of prior statements can be reviewed online and printed, and up to 12 months of activity can be downloaded to Quickbooks®, Excel®, CSV, and Quicken®.

Lowe’s Accounts Receivable

This card’s balance must be paid off in full each month, but other than that there are many similarities with the above card. This card includes all of the features described above, except for the differences noted.

With this account, purchases are not billed to the account until it is delivered or picked up in the store. Authorized buyers can be designated by list or by ID card, and special cashier prompts can be set up to provide specific buying instructions when necessary.

Each account will receive a dedicated credit account representative for assistance.

Unlike the previous card, with the Accounts Receivable card up to 12 months of prior statements can be reviewed online and printed, and up to 6 months of activity can be downloaded to Quickbooks®, Excel®, CSV, and Quicken®.

Lowe’s Business Rewards

The benefits with the Lowe’s Business Rewards card are different from the cards above.

Additional cards can be requested for other users, and individual spending limits can be set. Alerts can be set up to send warnings when accounts are nearing their limits.

Deliveries are discounted, and certain large purchases are eligible for bulk rates.

When shopping at Lowe’s and elsewhere, Purchase Protection and Extended Warranties are available for eligible purchases. Purchase protection will protect items against damage and theft for 90 days after the date of purchase, and the extended warranty will add up to 1 year to warranties of 5 years or less.

This card also comes with the ReceiptMatchSM service, which will digitally match your receipts with purchases for better account management.

The Costs

Card Regular APR Cash Advance APR Foreign Transaction Fee

Lowe's Business Account

Varies by state, see below

Not Applicable

Not Applicable

Lowe's Accounts Receivable

Varies by state, see below

Not Applicable

Not Applicable

Lowe's Business Rewards Card

13.24%, 15.24%, or 18.24% (Variable)

 25.24% (Variable)

2.7%

APRs for Lowe's Business Account
Georgia and North Carolina 15%
All other states 21%
APRs for Lowe's Accounts Receivable
Arkansas and Deleware 5%
Georgia 16%
Illinois, Minnesota 8%
Virginia, West Virginia, Washington 12%
Puerto Rico 6%
All other states 18%

The Fees

Card Penalty APR Late Fee Returned Payment Fee

Lowe's Business Account

Not Applicable

Not Applicable

Lowe's Accounts Receivable

Not Applicable

Not Applicable

Lowe's Business Rewards Card

27.24% (Variable)

Up to $38

$38

The Bottom Line

If you’re already making frequent business purchases from Lowe’s, a business credit card could be a wise method of payment. It will be most effective to pay off your balance in full every month whenever possible to avoid interest, no matter which card you choose. Interest rates are high in most states, so revolving a balance can quickly become more expensive than any savings you might get with the card.

The only card you’ll be able to use outside of Lowe’s is the Business Rewards card, which will also earn you points wherever you use it. This card has the added benefits of being backed by American Express, a company praised for its customer service.

Store-branded cards have limited value; see other options for Rewards cards
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