Lowe’s Credit Card Review: All The Business & Personal Credit Cards Offered By Lowe’s

Does your business buy at Lowe’s frequently? Or perhaps you require a lot of hardware store shopping? Then one of the home improvement store’s branded credit cards may work for you.

With five options — all sharing the promise of discounted purchases — Lowe’s has built a strong stable of cards. Depending on your business, one may be right for you while other owners might pick something different.

Curious which Lowe’s card is right for you? Keep reading to find out!

Lowe’s Advantage Card

Technically a personal card, the Lowe’s Advantage Card is a simple store-branded card offered in conjunction with Synchrony Bank. This no-annual-fee card features a 5% discount on eligible purchases at Lowe’s. Note that the 5% discount cannot be used in tandem with coupons, price-matching, or various discounts, including military and employee.

If you’d rather have special financing instead of the 5% discount, Lowe’s offers two ways to opt out of the discount and into special financing. The first way lets you nab six months 0% APR on purchases above $299.

The second way enables you to receive special financing on purchases above $2,000. The APR changes based on how many payments you plan to make:

• 36 fixed monthly payments at 3.99% APR
• 60 fixed monthly payments at 5.99% APR
• 84 fixed monthly payments at 7.99% APR

If you choose either financing option, the 5% discount will be voided. That means you’ll want to use a financing route only when necessary.

Beyond its benefits, this card can only be used at Lowe’s; you won’t be able to buy items from other stores. Additionally, its base APR is relatively high, which could be something to watch out for.

Lowe’s Business Account Credit Card

Just like with the Advantage Card, Lowe’s Business Account Credit Card offers 5% off every eligible purchase you make at Lowe’s. However, unlike the Advantage Card, there are no financing options.

On the flip side, you do gain access to various cardholder promotions. There are also discounted delivery options for both in-store and online orders. As an additional bonus, you won’t need to worry about an annual fee.

Lowe’s further offers an online portal to view details about your account. This portal will let you pay online and view both prior statements and past activity. You’ll also be able to request credit line increases and download up to six months of account activity to Excel, CSV, QuickBooks, or Quicken.

Lowe’s Accounts Receivable Business Credit Card

Lowe’s Accounts Receivable Business Credit Card is very similar to the Business Account card; you’ll collect 5% off every eligible Lowe’s purchase without any special financing options. You’ll get some of the same benefits, too. These include cardholder promotions and discounted delivery on both in-store and online purchases. There’s also no annual fee.

Beyond the 5% discount, however, it does include a few more features. You’ll be able to establish and link accounts to one another in a secondary-parent relationship. You’ll further be able to request and manage authorized buyers, a solid extra for businesses looking to give cards to employees.

Lowe’s also sets you up with in-depth billing features. You’ll be able to track payments, view the details of transactions, and consolidate all statements for all linked accounts. The online portal further lets you request credit line increases and download up to six months of activity to Excel, CSV, Quickbooks, or Quicken.

Lowe’s Business Rewards Card From American Express

The only fully-fledged credit card on the list, Lowe’s Business Rewards Card from American Express offers a way to earn while spending at Lowe’s, as well as with other merchants. You’ll net three points per dollar spent at US restaurants and office supply stores, and on wireless telephone services purchased from US-based service providers. Lowe’s purchases collect two points per dollar while everything else scores one point per dollar.

Points earned with this card can be redeemed for either Lowe’s or American Express gift cards.

On top of the points scheme, you’ll still get the 5% discount when shopping at Lowe’s, discounted delivery, and bulk rate pricing. You’ll also net 5,000 bonus points when you spend $100 in your first 30 days. The card further offers no interest on purchases during your first six months.

There are standard credit card benefits, too. These include employee cards, extended warranty for up to two years, purchase protection against theft and damage, and travel insurance. This card comes with no annual fee, although foreign transactions tack on a 2.7% charge.

Lowe’s PreLoad Card

If you’re worried about a credit check, Lowe’s offers their PreLoad Card. This card requires no credit check when signing up. Note that this means it is not an actual credit card; instead, it’s a preloaded card that you top up by adding money to it via a debit, a credit, or a checking account.

Even though it’s not a credit card, you’ll still receive the 5% discount when you shop at Lowe’s. You can also issue cards to employees or subcontractors at any time. Money can be added to employee cards via an online tool that also tracks and allows you to budget employee spending.

While it doesn’t come with many of the standard credit card features, you will have access to Discover’s zero liability policy. This protects you against unauthorized charges when reported promptly.

How To Qualify For A Lowe’s Credit Card

For three basic store cards, you’ll likely want to have fair (also known as “average”) credit or better before applying. That means you’ll need to aim for a credit score of 580 or higher. The Rewards Card from American Express, meanwhile, likely requires a good score or better. For this card, shoot for a score of 680 or higher. The PreLoad card does not require a credit score.

Unsure of your credit score? Find out by visiting one of our favorite (and free!) credit-score-checking sites.

You’ll also need to be a US resident and at least 18 years of age. You can apply online and in-store.

Which Card Should I Get?

Lowe’s aims their cards at different types of customers. As such, what works for one business may not work for yours. Here’s a quick rule of thumb to help you decide:

• If you are a very small business with no employees, then go with the Lowe’s Advantage Card.
• If your business is slightly larger but doesn’t require your employees to have a store card, the Lowe’s Business Account Credit Card should be enough.
• If your business is large enough that your employees need cards, then the Lowe’s Accounts Receivable Business Credit Card should work for you.
• Businesses that are looking for a card that not only earns Lowe’s rewards but can also be used elsewhere will need to apply for the Lowe’s Business Rewards Card from American Express because that’s the only full-fledged card Lowe’s offers.
• Businesses that want to avoid a credit check will need to sign up for the Lowe’s PreLoad Card.