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.
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 or theft of 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, reg_apr,reg_apr_type APR. APRs will not exceed 29.99%
- No Annual Fee (rates & fees)
The Blue Business® Plus Credit Card from American Express (review) offers a strong 2x Membership Rewards points on the first $50,000 in purchases annually, making it an excellent no-annual-fee (rates & fees) option for small business owners. This card provides good value for everyday spending and access to Amex’s 20+ transfer partners, though it does have foreign transaction fees.
Welcome Bonus: 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.
Earning Points: 2 American Express Membership Rewards points per dollar on the first $50,000 spent on the card annually (then 1 point per dollar).
Card Benefits: Extended Warranty, Purchase Protection, Expanded Buying Power, and 0% Intro APR for 12 months on purchases for 12 months from the date of account opening, after that a reg_apr,reg_apr_type APR applies.
Transfer Partners: Aer Lingus, AeroMexico, Air Canada Aeroplan, ANA, Avianca LifeMiles, British Airways, Cathay Pacific, Choice Privileges, Delta, Emirates, Etihad, Air France – KLM Flying Blue, Hawaiian Airlines, Hilton, Iberia, JetBlue, Marriott, Qantas, Qatar Airways, Singapore KrisFlyer, and Virgin Atlantic.
Capital One Spark Cash Plus
Better for Cash Back
The Capital One Spark Cash Plus (review) is a powerful business card that offers a simple yet rewarding 2% cash back on all purchases. Designed for businesses with high operating expenses and a preference for straightforward rewards, this card eliminates the complexities of tracking bonus categories. With no preset spending limit and a large welcome bonus, the Spark Cash Plus can be a valuable tool for managing cash flow and earning substantial rewards.
Welcome Bonus: Earn $2,000 cash back once you spend $30,000 in the first 3 months from account opening.
Earning Rewards: 5% cash back on hotels and rental cars for bookings via Capital One’s travel booking site; 2% cash back on all other eligible purchases.
Card Benefits: No preset limit, no foreign transaction fees, and extended warranty.
The American Express Blue Business Cash™ Card
Better for Cash Back & No Annual Fee
The American Express Blue Business Cash™ Card (review) offers 2% cash back on the first $50,000 in eligible purchases annually, then 1% thereafter, with rewards automatically credited to your statement each billing cycle. This no-annual-fee card (rates & fees) provides a straightforward way for small businesses to earn cash back on expenses, though larger spenders may find more value in other options.
Welcome Bonus: bonus_miles_full
Earning Cash Back: 2% cash back on up to $50,000 in eligible purchases every calendar year. After that, the card earns 1% back. Your cash back on the Blue Business Cash appears as an automatic monthly statement credit.
Benefits: Extended warranty, purchase protection, secondary rental car insurance, Expanded Buying Power, and 0% Intro APR on purchases for 12 months from account opening, after that a reg_apr,reg_apr_type APR applies.
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. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
