When it comes to tackling home improvement projects, having options is key – options in the tools and supplies you buy, the services you use, and of course, how you pay for it all. Lowe‘s, a titan in the home improvement industry, understands this and aims to provide flexibility through its wide range of accepted payment methods. In this comprehensive guide, we‘ll take a closer look at one popular option: using American Express at Lowe‘s.
Lowe‘s and American Express: A Powerful Partnership
Lowe‘s is a household name in home improvement, with over 2,200 stores across North America and a robust online presence. In 2021, the company reported sales of over $96 billion, solidifying its position as a go-to destination for DIYers and professional contractors alike.
American Express, or Amex, is equally impressive in its scope. As one of the largest card issuers globally, Amex boasts over 114 million cards in circulation and a network that spans more than 160 countries. In the U.S. alone, Amex accounts for 22.9% of credit card purchases by value, according to a 2022 Nilson Report.
The good news for consumers? Lowe‘s and American Express have a strong partnership, meaning you can use your Amex card for purchases both in-store and online at Lowe‘s.
Swiping Your Amex at Lowe‘s: The Basics
Let‘s start with the fundamental question: Can you use American Express at Lowe‘s? Absolutely. Lowe‘s accepts all types of American Express cards, whether you‘re shopping in-store, on Lowes.com, or through the Lowe‘s mobile app.
This versatility applies to all of your home improvement needs:
- Appliances, tools, and general merchandise
- Building supplies like lumber, electrical, and plumbing
- Lowe‘s gift cards (available in denominations from $5 to $2,000)
- Installation services and delivery fees
- Protection plans for major purchases
The only notable exception is that Lowe‘s does not currently accept mobile wallet payments linked to Amex, such as Apple Pay or Google Pay. However, Lowe‘s does accept Samsung Pay, so you can still tap to pay if you have a Samsung device.
Maximizing Your Amex Rewards at Lowe‘s
Using your American Express card at Lowe‘s can be especially rewarding if you strategically use the right card. Many Amex cards offer bonus points or cashback on purchases from U.S. home improvement stores. For example:
- The Blue Cash Everyday Card from American Express offers 3% cash back at U.S. supermarkets (on up to $6,000 per year, then 1%) and 2% cash back at U.S. gas stations and select U.S. department stores.
- The American Express Cash Magnet Card offers unlimited 1.5% cash back on all purchases.
But perhaps the most lucrative option is the Lowe‘s Business Rewards Card from American Express. This card is designed for small business owners and offers a slew of benefits, including:
- 5% off eligible Lowe‘s purchases, plus 2 points per $1 spent after the first six months
- 5% cash back at Lowe‘s for the first six months, up to $100,000 in purchases
- Access to Lowe‘s ProServices, including discounted delivery, bulk rate pricing, and more
- A 0% introductory APR for the first 6 billing cycles, followed by a variable APR of 15.74% to 24.74% based on creditworthiness.
To qualify for the Lowe‘s Business Rewards Card from American Express, you must have an eligible business entity with a valid Tax Identification Number (EIN or SSN). Sole proprietors can apply using their Social Security Number.
The Lowe‘s Credit Card Landscape
While the Lowe‘s Business Rewards Card from American Express is a standout option, it‘s not the only credit offering available at Lowe‘s. Here‘s a quick comparison of Lowe‘s credit card options:
| Card | Rewards | Intro Offer | Regular APR | Annual Fee |
|---|---|---|---|---|
| Lowe‘s Advantage Card | 5% off eligible purchases | N/A | 17.99% – 26.99% | $0 |
| Lowe‘s Business Rewards Amex | 5% off + 2 points/$1 | 0% APR for 6 months | 15.74% – 24.74% | $0 |
| Lowe‘s PreLoad | N/A – prepaid card | N/A | N/A | $0 |
While the Lowe‘s Advantage Card doesn‘t offer rewards points, it does provide an everyday 5% discount on eligible purchases, similar to the Lowe‘s Business Rewards Amex. The key difference is that the Advantage Card can only be used at Lowe‘s, while the Amex card can be used anywhere American Express is accepted.
The Lowe‘s PreLoad Card is a prepaid card that can be loaded with funds for use at Lowe‘s. This can be a good option for budgeting or gift-giving purposes.
Expert Tips for Shopping at Lowe‘s with Amex
As a savvy shopper, there are several strategies you can employ to maximize your benefits and savings when using American Express at Lowe‘s:
- Always pay your credit card bill in full and on time to avoid interest charges and late fees. Set up automatic payments if possible.
- Monitor your American Express account for fraudulent activity and report any suspicious charges immediately.
- Take advantage of Amex Offers, which are targeted discounts or bonus points offers that can be added to your card.
- If you‘re a small business owner, keep your business and personal expenses separate by using your Lowe‘s Business Rewards Amex for business purchases.
- Check if your American Express card offers purchase protection or extended warranty coverage for eligible items bought at Lowe‘s.
- Look out for special promotions, such as Amex‘s Shop Small program which offers bonus points or credits for shopping at participating small businesses, including select local Lowe‘s stores.
- Don‘t forget about Lowe‘s price matching policy. If you find a lower price on an identical item at a competitor, Lowe‘s will match the price and beat it by 10%. This policy applies to in-store purchases regardless of your payment method.
By following these tips and choosing the right American Express card for your needs, you can turn your Lowe‘s purchases into a rewarding experience in more ways than one.
The Power of Home Improvement Spending
The partnership between Lowe‘s and American Express is a strategic move that reflects the power of the home improvement industry. According to the Home Improvement Research Institute, the U.S. home improvement market is projected to reach $454 billion in 2023.
On an individual level, homeowners spend an average of $7,680 per year on home improvement projects, based on data from Angi‘s 2022 State of Home Spending report. That‘s a significant amount of potential rewards points or cash back up for grabs.
Of course, it‘s important to approach any home improvement project with a clear budget and plan. Overextending yourself financially, even with credit card rewards in mind, can lead to long-term debt and stress. Use your American Express card wisely and pay off your balances each month to truly reap the benefits.
The Customer Experience
Amex is known for its superior customer service, and this extends to your purchases at Lowe‘s. If you experience any issues with a product purchased from Lowe‘s using your American Express card, you can contact Amex‘s customer support for assistance.
Many American Express cards also offer purchase protection, which can cover eligible items against accidental damage or theft. For example, the American Express Gold Card offers purchase protection for up to 90 days and $10,000 per occurrence.
In addition, American Express has a Global Assist Hotline that can help with things like lost passport replacement, translation services, and medical referrals when you travel more than 100 miles from home. So even if your Lowe‘s purchase is part of a larger renovation project that takes you out of town, you can travel with peace of mind.
The Bottom Line
Using American Express at Lowe‘s is a smart choice for savvy shoppers looking to maximize their rewards and benefits. With a wide range of Amex cards accepted both in-store and online, the flexibility and potential savings are substantial.
For regular Lowe‘s shoppers, the Lowe‘s Business Rewards Card from American Express is hard to beat with its 5% discount and bonus points. But even if you‘re an occasional Lowe‘s customer, using the right Amex card can still net you valuable rewards on your home improvement purchases.
As with any financial decision, it‘s important to consider your individual spending habits, budget, and goals. But if you‘re looking to renovate your home and your credit card rewards strategy, using American Express at Lowe‘s is a powerful place to start.
