The Lowe's Business Rewards Card is a no annual fee card from American Express earning 5% cash back at Lowes in the first 6 months (2% thereafter), and 2% cash back at U.S. restaurants, U.S. office supply stores, and U.S. wireless telephone service providers.
This credit card review will cover everything you need to know about this card to determine if you should add this card or a different card to your wallet. Let's dive right in.
- Earn a $100 Credit Upon Approval + 5% Cash Back at Lowe's in the First 6 Months.
- 2% Cash Back at Lowe's Stores or Lowes.com
- Lowe's ProServices Benefits
- Purchase Protection and Extended Warranty
- No Annual Fee
Welcome Bonus
The Lowe's Business Rewards Card currently offers the following welcome bonus:
Earn a $100 Credit Upon Approval + 5% Cash Back at Lowe's in the First 6 Months.Earning Rewards
The Lowe's Business Rewards Card earns cash back at the following rates:
- 2% Back at Lowes’s stores or online at Lowes.com or LowesforPros.com;
- 2% back at U.S. Restaurants;
- 2% back at U.S. office supply stores;
- 2% back at wireless telephone services purchases directly from U.S. service providers; and
- 1% back on al other purchases.
No Annual Fee
The Lowe's Business Rewards Card has no annual fee.
Card Benefits and Perks
Below are the card benefits and perks of the Lowe's Business Rewards Card:
Secondary Rental Car Insurance
Secondary rental car insurance covers any damage to a rental car not covered by your primary insurance when you pay for the rental using this card.
Other credit cards offer primary rental car insurance, which pays before your insurance and saves you the hassle of filing multiple insurance claims.
You still need to maintain liability car insurance to cover damage to another person or property.
Purchase Protection
Purchase protection could save you a lot of money if you bought an eligible item that is damaged or stolen within 90-days.
For example, if you accidentally dropped your new phone or laptop and broke the screen, you could file a claim to get it replaced if the item was purchased within the last 90 days.
Extended Warranty
Credit card extended warranty protection adds up to an additional year of coverage for eligible purchases on manufacturer’s warranties up to 5 years.
For example, if you bought a TV with a manufacturer’s warranty of three years, this card would extend the warranty for free to the fourth year.
Access to Amex Offers
This card has access to Amex Offers, which are deals that are linked to your card, allowing you to save money or earn extra points on shopping, dining, and travel.
For example, there could be an offer such as spending $200+ at Marriott Hotels and Resorts and receiving $50 cash back as a statement credit.
You can find all of your Amex Offers by signing into your American Express account. You will need to “Add to Card” each offer to be eligible for the special offer.
Pros and Cons
Here’s a quick overview of this card’s advantages and disadvantages:
Pros:
- Purchase protection and extended warranty.
- No annual fee.
- 5% back at Lowe’s for the first 6 months could be lucrative if you plan to spend a lot in that period.
Cons:
- 2.7% foreign transaction fee.
- No intro APR offer
- Limited redemption options (Lowe’s or Amex gift cards)
- 2% cash back in the top categories isn’t competitive.
Alternatives to Lowes Business Amex
Now that you know about this credit card’s various benefits and pros and cons, it’s time to see its alternatives.
Blue Business® Plus Credit Card from American Express
Better for Earning Points
- Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
- 2 Points Per Dollar on the First $50,000 in Purchases Each Calendar Year (1x Points thereafter)
- 0.0% Intro APR on purchases for the first 12 months. After that, 16.74% - 28.49% APR. APRs will not exceed 29.99%
- No Annual Fee (rates & fees)
The Blue Business® Plus Credit Card from American Express (review) is one of my favorite cards because it has no annual fee and earns 2x Membership Rewards points on the first $50,000 in purchases every year. After that, you will earn 1 point on all other eligible purchases.
You can transfer Membership Rewards to 18 airlines and three hotel points programs, with several great sweet spots to travel in business class to anywhere in the world.
I put all of my everyday business spending on my Blue Business Plus because it is a quick way to rack up points for my next trip.
Capital One Spark Cash Plus
Better for Cash Back
- Earn a one-time cash bonus of $2,000 plus for a limited time, earn a $500 Capital One Business Travel credit once you spend $30,000 in the first 3 months.
- 5% Back on Hotels and Rental Cars for bookings via Capital One Business Travel.
- 2% Cash Back on All Purchases
- Extended Warranty & No Foreign Transaction Fees
- $150 Annual Fee
The Capital One Spark Cash Plus is great for businesses that spend a lot each year.
The card earns 2% cash back on all purchases and comes with no preset spending limit so that it can adapt to your needs based on your spending behavior, payment history, and credit profile.
The card also earns unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
American Express Blue Business Cash™ Card
Better for Cash Back & No Annual Fee
- Earn a $250 Statement Credit after you spend $3,000 in purchases on your Card in your first 3 months.
- 2% Cash Back On Up to $50,000 Per Year (1% Thereafter)
- 0% Intro APR on Purchases for 12 Months. After that, 16.74% - 28.49%. APRs will not exceed 29.99%.
- No Annual Fee (rates & fees)
The The American Express Blue Business Cash™ Card (review) offers simple, straightforward rewards for no annual cost.
This zero-annual-fee card earns a flat 2% cashback rate on all qualifying purchases up to $50,000 each year (1% thereafter).
The Blue Business Cash also offers expanded buying power, giving your business the flexibility to spend above your credit limit for your business expenses.
Is the Lowes Business Amex Worth It?
For most people the Lowe's Business Rewards Card is not worth it. There are several other credit cards that offer 2x or 2% cash back rewards on all of your spending, instead of just in certain categories.
A few recommended better options are:
- If You Want Travel Points: The Blue Business® Plus Credit Card from American Express (review) or the Capital One Spark Miles for Business (review).
- If You Want Cash Back: The American Express Blue Business Cash™ Card (review) or the Capital One Spark Cash Plus (review).
For rates and fees of The Blue Business Plus® Credit Card from American Express, please click here.
