American Express and the world’s second-largest home improvement retailer Lowe’s have launched a new credit card for business owners that offers points on much more than just hand tools and ladders.
The Lowe’s Business Rewards Card is the latest big-name partnership from American Express as it expands rewards programs for small businesses. This is the first for Lowe’s business credit customers.
The new card has a tiered structure for earning rewards points, such as one point for every eligible dollar spent; double points on eligible dollars spent at Lowe’s; and triple points on eligible restaurant purchases, office supplies and wireless bills.
“…This new product offers convenience and rewards at a time when business owners need it most,” said Larry D. Stone, president and chief operating officer of Lowe’s.
The card has no annual fee and offers business and travel-related benefits.
The Lowe’s Card, which was unveiled in Las Vegas at the International Builders Show, the top building industry trade show, will be available at Lowe’s retail locations by March 2010.
Lowe’s is a Fortune 50 company that serves about 14 million customers a week at more than 1,700 stores in the U.S. and Canada.
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