Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
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!
| Card Name | Best For |
|---|---|
| Lowe’s Advantage Card | Businesses that don’t need employee cards |
| Lowe’s Business Account Credit Card | Small businesses |
| Lowe’s Accounts Receivable Business Credit Card | Medium to large businesses |
| Lowe’s Business Rewards Card | Businesses looking for a full credit card |
| Lowe’s PreLoad Card | Businesses that don’t want to undergo a credit check |
Table of Contents
- Lowe’s Advantage Card
- Lowe’s Business Account Credit Card
- Lowe’s Accounts Receivable Business Credit Card
- Lowe’s Business Rewards Card From American Express
- Lowe’s PreLoad Card
- How To Qualify For A Lowe’s Credit Card
- Which Card Should I Get?
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 protectionagainst 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 manyof 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 theLowe’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 rewardsbut 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.
FAQs
What types of credit cards does Lowes offer? ›
For personal use, choose the Lowe's Advantage Credit Card. When it comes to your business, choose between the Lowe's Business Advantage Card, the Lowe's Commercial Account Card and the Lowe's Business Rewards Card from American Express.
What credit score do you need for a Lowe's business card? ›For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company. The credit score that you need for the Lowe's Store Card is 640, at a minimum.
Can I use my Lowe's business credit card anywhere? ›Fees & Drawbacks of the Lowe's Advantage Card
Additionally, the Lowe's card cannot be used anywhere other than Lowe's and Lowes.com. Other notable fees/drawbacks: Late fees can cost up to $38. No cash advance option.
The Lowe's Advantage Credit Card is reported to be among the more difficult store cards to get, generally preferring applicants with "fair" credit or better (FICO scores above 620). While you can apply for the Lowe's card online, it's recommended that you apply in-store to take advantage of the one-time signup offer.
Can I get a Lowes card with a 600 credit score? ›What credit score do I need for a Lowe's card? You'll likely need a fair, good, or excellent credit score to qualify for the Lowe's credit card. Fair credit scores typically start around 600. Good scores start around the high 600s, and excellent scores start around 800.
Is Lowes card a good idea? ›The bottom line: This card offers top-notch value on spending at Lowe's, making it one of the best credit cards available for home improvement. The automatic discount can easily save you hundreds of dollars on a big project.
What is the maximum credit limit on a Lowes card? ›Your Lowe's Credit Card credit limit will depend primarily on your creditworthiness, debt and income. People have reported being approved with a fair score around 650, but the limits were around $300. Generally, you'd need a higher score of 700+ if you want a higher credit limit (around $2,000).
What is the interest rate on Lowe's business card? ›The Lowe's Business Credit Card doesn't have any financing appeal, as it does not offer an introductory APR on new purchases. But it has a high regular APR: 20.24% - 29.24% (V).
Can I use my Lowe's credit card at Walmart? ›You can't use the Lowe's Advantage Card. That's because it's a store card only. This means you can't use it at other retailers for everyday purchases.
Can I use my business card for personal use? ›It's not illegal to use a business credit card for personal expenses. But that doesn't mean it's a good idea. Most credit card issuers don't allow small-business owners to put personal expenses on a business credit card. If you do, it's possible you could be breaking the terms of your cardmember agreement.
Is Lowe's credit card a Visa or Mastercard? ›
It is not part of a major credit card network, such as Visa or Mastercard, and can therefore only be used for Lowe's purchases. However, there is a business version of the Lowe's credit card that is issued by American Express and can be used everywhere Amex cards are accepted.
What credit score do you need to get a Lowe's or Home Depot credit card? ›You need a credit score of at least 640 for a Home Depot® Credit Card. This means you should have fair credit or higher for approval. That's the case for both the Home Depot® Credit Card and the Home Depot® Business Credit Card.
What credit score do you need for a Home Depot or Lowes credit card? ›A credit score of 640 or higher is needed for a Home Depot® Credit Card; this means that you need to have a fair credit score to get it.
Does Lowes do a soft credit check? ›Lowe's Store Card offers online pre-qualification which only triggers a soft pull of your credit, without affecting your credit score. While pre-qualification does not guarantee you'll be approved, it indicates the odds are in your favor.
How much do you save with Lowes card? ›With the Lowe's Advantage Card, you'll save each time you spend when you use the everyday discount of 5% off* your eligible purchase or order charged to your Lowe's account. As far as Special Financing** goes, the Lowe's Advantage Card offers the option to pay over a period of time for purchases of $299 or more.
Should I have 3 credit cards? ›If your goal is to get or maintain a good credit score, two to three credit card accounts, in addition to other types of credit, are generally recommended. This combination may help you improve your credit mix. Lenders and creditors like to see a wide variety of credit types on your credit report.
Is it better to apply for Lowes card in store or online? ›It's usually better to apply online, simply because you might get approved instantly. After you get approved, you can then take the card and get 20% off your first purchase, up to $100 off.
What is a respectable credit limit? ›Adam McCann, Financial Writer
A good credit limit is above $30,000, as that is the average credit card limit, according to Experian. To get a credit limit this high, you typically need an excellent credit score, a high income and little to no existing debt.
Your definition of a high credit limit may vary based on what you want from a credit card, but we consider a $5,000 to $10,000 limit to be a good starting point for the “high” range for rewards credit cards.
What is a normal credit card limit? ›What is considered a “normal” credit limit among most Americans? The average American had access to $30,233 in credit across all of their credit cards in 2021, according to Experian. But the average credit card balance was $5,221 — well below the average credit limit.
Do businesses get discounts at Lowes? ›
2. Lowe's for Pros members save 5% on every purchase every time they shop. If you have a business that requires frequent purchases from big-box home improvement stores, you'll want to join Lowe's for Pros.
Does Lowe's have 12 months no interest? ›No interest if paid in full within 12 months. Offer applies to appliance purchase or order of $299 or more made on your Lowe's Advantage Card.
Can a Lowes American Express card be used anywhere? ›It runs on the American Express network, so you can use it anywhere American Express is accepted, but any rewards you earn on the card are generally going to be funneled back to use at Lowe's. Redemptions on the card are limited to gift cards for either Lowe's or American Express.
What is the maximum credit limit on a Walmart credit card? ›Credit limits for a Walmart credit card can range from $150 to over $5,000. Several factors go into determining your credit limit, including your annual income and credit history. Where can I use a Walmart credit card? The Capital One® Walmart Rewards™ Mastercard® can be used anywhere Mastercard is accepted.
Can I use my Home Depot credit card in Lowes? ›No, you cannot use your Home Depot® Credit Card everywhere. The Home Depot® Credit Card is a store credit card and it can only be used at Home Depot stores and through the Home Depot website.
What is Mylowes card? ›Today's first release includes the following features: -- A MyLowe's card or key fob to track in-store purchases online -- Home profile to create rooms and store floor dimensions, product details and notes -- Folders and lists to organize products, projects and ideas -- Purchase history from all purchase points (in ...
What should you not put on a business card? ›- Spelling errors. ...
- Outdated information. ...
- Low-quality images or videos. ...
- Unprofessional profiles. ...
- A home address. ...
- Going black and white. ...
- Not listing your business clearly. ...
- Not including a website.
No Big Deal? There's nothing saying you can't apply for multiple credit cards at the same time. Each application is generally considered separately, and it's not uncommon for some people to be approved for two or three new credit card accounts on the same day.
Do business credit cards report to the IRS? ›Since 2011, the IRS has required reporting of business income received through payment cards.
What are the benefits of a Lowes Pro Card? ›- Start earning Lowe's E-Gift Cards once annual qualifying spend reaches $2,500. ...
- Earn Paint Rewards and receive free select drink and snack coupons. ...
- Chances to win prizes to help level up your business. No purchase necessary. ...
- Earn Bonus Points to redeem for additional rewards.
Which company is better Visa or Mastercard? ›
Which is more popular, Mastercard or Visa? Both Visa and Mastercard are accepted globally. However, Visa cards at the most basic level offer more benefits and features as compared to Mastercard.
What credit score do I need to get a Home Depot Business credit card? ›You can apply for the Home Depot® Business Credit Card online on Home Depot's website or in your nearest Home Depot store. You'll need a credit score of at least 640 (fair credit) to be considered eligible for a new account.
What credit score should you have to get a Home Depot credit card? ›A FICO® Score of at least 600 is recommended to apply for the Home Depot® Credit Card -- ideally, a score of 640 or higher. Applicants who get this card usually have scores in the fair credit or good credit range.
What's the credit limit on Home Depot? ›The starting Home Depot® Credit Card credit limit is $300 or more. Everyone who gets approved for the Home Depot® Credit Card is guaranteed a credit limit of at least $300. Plus, particularly creditworthy applicants could get limits a lot higher than that.
Who is better Lowes or Home Depot? ›Home Depot tends to have a wider variety of exclusive products sold for slightly lower prices on average, while Lowe's brands seem to be more focused on stocking high-quality tools that first-time DIYers often require.
How many points does a soft credit check take off? ›There are two types of credit score inquiries lenders and others (like yourself or your landlord) can make on your credit score: a "hard inquiry" and a "soft inquiry." The difference between the two is that a soft inquiry won't affect your score, but a hard inquiry can shave off some points.
Is it hard to get credit increase for Lowes? ›To raise your chances of being approved for a higher credit limit, pay your bill on time for at least six straight months, reduce your outstanding debt, and update your income. You will be more likely to get a credit limit increase if the revised income clearly shows that you can afford a higher limit.
Do soft credit checks go against you? ›Although they might be visible on your credit report, soft credit searches won't affect your credit score, or your ability to get credit in future, so you don't need to worry about how often they're completed.
Does Lowes have Visa or Mastercard? ›The Lowe's Advantage Card is an in-house store credit card offered by the home improvement retailer. It does not carry a Visa or Mastercard logo, which means you can use it only for purchases made at a Lowe's store or through Lowes.com.
Does Lowes have a Visa credit card? ›Offers are subject to credit approval. Excludes Lowe's® Business Credit Accounts, all Lowe's® Visa® Accounts and Lowe's® Canada Credit Accounts. We reserve the right to discontinue or alter the terms of these offers at any time.
Is Lowes credit card a soft pull? ›
Lowe's Store Card offers online pre-qualification which only triggers a soft pull of your credit, without affecting your credit score. While pre-qualification does not guarantee you'll be approved, it indicates the odds are in your favor. If pre-qualified, you'll be invited to apply.
Can I use my Lowes card at Walmart? ›You can't use the Lowe's Advantage Card. That's because it's a store card only. This means you can't use it at other retailers for everyday purchases.
Does Lowe's have 24 months no interest? ›Minimum monthly payments required. No interest will be assessed on the promotional purchase if you pay the promotional purchase in full within 12, 18 or 24 months from the purchase date. If you do not, interest will be assessed on the promotional purchase from the purchase date.
How much do you save with a Lowes credit card? ›With the Lowe's Advantage Card, you'll save each time you spend when you use the everyday discount of 5% off* your eligible purchase or order charged to your Lowe's account. As far as Special Financing** goes, the Lowe's Advantage Card offers the option to pay over a period of time for purchases of $299 or more.
Can you use a Lowes card at Home Depot? ›Evelyn Boros, Credit Cards Moderator
You can only use your Lowe's Store Card online on Lowes.com and in Lowe's store locations.
When you request a Lowe's Store Card credit limit increase, the issuer will conduct a soft pull of your credit report. This inquiry will not affect your credit score. Alternatively, you could be eligible for a Lowe's Store Card credit limit increase without even requesting one.