Lowe's card offers points to small business customers

Las Vegas Mooresville, N.C.-based Lowe's Cos. teamed with American Express Open to launch the Lowe's Business Rewards Card.

The key feature of the new payment product is the ability to offer small business customers reward points. It's the first rewards program for Lowe's small business credit customers.

In a prepared statement, Lowe's president and COO Larry Stone said the Rewards Card "offers convenience and rewards at a time when business owners need it most."

The breakdown of the points follows a simple plan: one point for every dollar spent on the card; double points for dollars spent at Lowe's; and triple points for dollars spent on restaurant purchases, office supplies and wireless bills.

The announcement of the new card was made during the International Builders' Show in Las Vegas.