Lowe’s Business Rewards Card Overview

The Lowe’s Business Rewards Card, issued by Synchrony Bank, is a premier business credit card designed specifically for companies that frequently invest in home improvement and materials. This card offers a robust rewards structure, tailored specifically for business owners looking to maximize their purchasing power while enjoying a variety of benefits that cater to their unique needs.

Card Type

The Lowe’s Business Rewards Card falls under the category of a business credit card, which is primarily used to support business expenses with the added benefit of rewards. It is designed to help businesses manage cash flow while earning rewards on everyday spending.

Annual Fee

The card comes with no annual fee, allowing businesses to enjoy all the rewards and benefits without the burden of added costs. This feature is particularly appealing for small to medium-sized businesses that seek to optimize their budgeting.

Rewards Program

The Lowe’s Business Rewards Card boasts a competitive rewards structure, offering 5% back in rewards on every dollar spent at Lowe’s. Additionally, businesses can earn 3% back on eligible purchases at restaurants and office supply stores. Other purchases will yield 1% back. Rewards can be redeemed as store credits, allowing business owners to reinvest in their projects and materials needed for their operations.

Sign-Up Bonus

New cardholders can take advantage of a compelling sign-up bonus. Upon spending $1,000 in the first 12 months of account opening, users can earn an additional $100 in rewards. This is an excellent way for businesses to kickstart their rewards from the get-go.

APR (Annual Percentage Rate)

The standard APR for purchases is 26.99% variable, which is important for businesses to consider when planning larger purchases. It also offers a promotional 0% introductory APR on purchases for the first 12 months, making it an enticing option for businesses looking to make significant investments in their operations without incurring immediate interest charges.

Foreign Transaction Fees

For businesses that operate internationally or travel for work, it’s important to know that the Lowe’s Business Rewards Card does not charge foreign transaction fees. This feature makes it an excellent choice for companies looking to manage expenses abroad.

Balance Transfer Options

Currently, the card does not offer dedicated balance transfer options, which may be a limitation for businesses looking to consolidate debts. However, an understanding of comprehensive financial management could yield long-term benefits through disciplined use and timely repayments.

Additional Fees

While it offers no annual fee, the Lowe’s Business Rewards Card does include late payment fees of up to $40, as well as cash advance fees which typically range from $10 or 5% of the amount of each cash advance (whichever is greater). It is essential for cardholders to stay informed about these fees to avoid unexpected costs.

Card Benefits and Perks

The Lowe’s Business Rewards Card includes a variety of card benefits designed to enhance the customer experience. Some notable perks include access to special financing options on eligible purchases, which can aid in better cash flow management. While it lacks some of the premium benefits of other business cards, it remains geared towards practical use in home improvement projects.

Customer Protections and Insurance

This card offers substantial customer protections, including zero fraud liability, meaning that cardholders are not responsible for unauthorized charges made with the card. In addition, it provides purchase protection, which can add a layer of security for business purchases. However, details concerning rental car insurance and similar benefits can vary, so users should consult the card’s official policy for complete information.

Eligibility and Credit Score Requirements

To be eligible for the Lowe’s Business Rewards Card, applicants generally must have a good to excellent credit score, typically falling within the range of 700-749 or higher. This requirement aligns with most business credit cards, and maintaining a healthy credit score can significantly enhance approval likelihood.

Introductory Offers

Alongside the promotional 0% APR offer on purchases for the first 12 months, this card does not currently feature any additional introductory benefits. Keeping this in mind can help businesses strategize their spending wisely after the initial 12-month period.

Special Features or Unique Selling Points

One of the card’s standout features is its ability to earn rewards directly tied to home improvement projects. As businesses often require supplies from Lowe’s, the 5% rewards offer can quickly accumulate, allowing for significant savings over time. Additionally, the card includes exclusive access to promotional offers and events for cardholders.

How to Apply

Businesses can easily apply for the Lowe’s Business Rewards Card by visiting the UpCube.net.