Earning Rewards
The Lowe’s Business Rewards card comes with the following rewards structure:
- Earn 3 points per dollar spent on U.S. restaurants and office supply stores and wireless phone services purchases directly from a U.S. service provider.
- Earn 2 points per dollar on eligible Lowe’s purchases.
- Earn 1 point per dollar on all other spending.
Redeeming Rewards
Rewards earned on the Lowe’s Business Rewards card can only be redeemed for Lowe’s gift cards or American Express gift cards. Redemptions start at 2,500 points and can be redeemed only in denominations of $25, $50 and $100.
Rewards Potential
To determine the rewards potential of the Lowe’s Business Rewards card, Forbes Advisor uses data from various government agencies in order to determine both annual expenses and spending averages across various categories. Based on the data, we estimate that the average mom-and-pop business or independent proprietor that shops heavily enough at a home improvement store to consider a dedicated credit card would charge $26,410 in expenses to their small business card.
Assuming half of those charges were spent at Lowe’s, those expenses would earn 26,410 points. We estimated $5,744 in spending on restaurants and wireless service, which would net 17,322 points. All other spending would earn 7,461 points for a total of 51,193 points annually.
Since rewards can only be taken in denominations of $25, $50 or $100, you’d net five $100 gift cards, leaving 1,193 points in your account until you accrued at least another 1,307 points so you could cash out at 2,500 points.
