Lowe's net-30 account review: How the Commercial Account works
Written byJasmin Baron
Reviewed by Robin Saks Frankel
Summary
- The Lowe's Commercial Account is a charge account that requires paying the balance in full, rather than a traditional revolving credit card.
- It offers Extended Terms giving eligible businesses up to two billing cycles to pay for purchases, alongside a 5% discount on qualifying items.
- Payment activity is reported to business credit bureaus (Dun & Bradstreet (D&B) and Experian Business), making it useful for establishing business credit history.
- Issued by Synchrony Bank, the account has no annual fee, but approval may require a credit review or personal guarantee depending on the applicant.
If your business regularly buys supplies from Lowe's, the Lowe's Commercial Account can give you more time to pay while helping you establish business credit. Synchrony Bank issues this no-annual-fee account, which offers 5% off eligible Lowe's purchases. It also reports payment history to business credit bureaus.
The Commercial Account is different from Lowe's business credit cards and from the free MyLowe's Pro Rewards loyalty program. That's important because Lowe's offers several business-related products with similar names.
If you’re looking for a Lowe's net-30 account, know that the Commercial Account's current payment arrangement is actually described as “Extended Terms” rather than as a traditional net-30 account. Lowe's says eligible purchases receive two billing cycles to pay.
What is the Lowe's Commercial Account?
The Lowe's Commercial Account is a business charge account issued by Synchrony Bank for companies that regularly purchase products from Lowe's. Unlike a revolving business credit card, the account is designed around paying your balance in full under its payment terms.
Lowe's describes its Extended Terms option as giving eligible Commercial Account customers two billing cycles to pay. That makes the account useful for businesses that need time between buying supplies and getting paid by customers. Contractors, property managers, facilities and maintenance businesses, and other companies with recurring Lowe's spending may find it especially useful.
The account offers a 5% discount on eligible Lowe's purchases and has no annual fee. Plus, it reports payments to business credit bureaus.
Yes, Lowe's offers business accounts, and the Commercial Account is the Lowe's product that works most like a vendor net-terms account. If you're searching for a Lowe's net-30 account because you want business purchasing terms and business credit reporting, this is the account to understand.
Commercial Account vs. Lowe's business credit cards vs. MyLowe's Pro Rewards
Lowe's business account products may look interchangeable in search results because their names are similar, but they’re quite different. Here’s a side-by-side comparison.
Lowe’s Commercial Account | MyLowe's Pro Rewards credit cards | MyLowe's Pro Rewards | |
What it is | Commercial charge account | Revolving business credit cards | Free loyalty program |
Issuer | Synchrony Bank | Synchrony Bank | Lowe’s loyalty program |
How you pay | Pay in full under account terms | Minimum payments allowed; interest may apply if you carry a balance | Not a credit account |
Discounts and rewards | 5% off eligible Lowe's purchases | 5% off eligible Lowe's purchases plus rewards | Earns points you can redeem for MyLowe’s Money, based on program terms |
Where it works | Lowe's | Lowe's; the American Express version can also be used where American Express is accepted | Lowe’s |
Business credit reporting | Reports payment history to business credit bureaus | Credit reporting depends on the account | No credit account to report |
Best for | Recurring Lowe's purchases and businesses that want payment terms | Businesses that want rewards and revolving credit | Businesses that want Lowe’s loyalty benefits without opening credit |
In summary, the Commercial Account is a charge account, which means payment is required in full by the due date. Meanwhile, MyLowe's Pro Rewards credit cards are revolving credit products, which allow you to carry a balance (with interest), while MyLowe's Pro Rewards itself is simply a free loyalty program.
Older Lowe's commercial credit products can make the distinction even more confusing. The Lowe's Business Advantage card, PreLoad Plus card, and Business Rewards American Express card were part of the company’s previous lineup and aren't open to new applicants. So if you're researching Lowe's business credit, double-check that you're looking at the current products rather than an older review.
Lowe's Pro Supply is also a separate B2B business with its own purchasing products, so don't assume a Lowe's Commercial Account is the same thing as a Lowe's Pro Supply account.
For more details on the current Lowe's business credit cards, see Nav's Lowe's business credit card review.
Lowe's Commercial Account terms at a glance
Here’s a quick look at terms to expect with the Lowe’s Commercial Account.
Term | Lowe’s Commercial Account |
Issuer | Synchrony Bank |
Account type | Business charge account |
Payment terms | Extended Terms; Lowe’s describes this as two billing cycles to pay |
Discount | 5% off eligible Lowe’s purchases |
Annual fee | $0 |
Where the account can be used | Lowe’s |
Business credit bureaus reported to | Dun & Bradstreet and Experian Business |
Personal guarantee | May be required depending on the applicant |
How to apply | Through Lowe’s business credit center or in-store |
The Commercial Account is subject to credit approval. The exact terms that apply to an account can depend on the current account agreement, so read the terms you're given when you apply.
Does the Lowe's Commercial Account build business credit?
Yes. The Lowe's Commercial Account reports payment history to business credit bureaus, which can help establish business credit in addition to providing purchasing terms.
The account reports to Dun & Bradstreet (D&B) and Experian Business. When a business pays on time, that payment history can become part of its business credit file.
The basic mechanics are straightforward:
- Open the account and make purchases
- Pay the balance by the required due date
- Lowe's reports your payment history to participating business credit bureaus
- Those reported payments can contribute to your business credit history
Payment timing can matter, too. For example, Dun & Bradstreet's PAYDEX® score considers how promptly a business pays its bills. So paying vendor accounts early or on time can be more useful for business credit than simply opening accounts and letting them sit unused.
Keep in mind that one account won't necessarily establish a complete business credit profile. Different vendors report to different business credit bureaus, so businesses building credit may use several accounts that report to different files.
Nav's net-30 accounts guide covers other vendor accounts, including Uline, Grainger, and Quill. You can also learn more about how to establish business credit.
Requirements and how to apply
The Lowe's Commercial Account is designed for businesses, and the application asks for information about both the business and its owner.
You’ll need information such as:
- Your business's legal name
- Employer identification number (EIN)
- Business address
- Years in business
- Business revenue
- Owner information
A personal guarantee may be required. Lowe's application materials have historically allowed established businesses with sufficient business history to qualify without a personal guarantee, while applicants with limited business credit history may be asked to provide one. A guarantor's personal credit may be considered as part of the credit decision.
That means this isn't a no-credit-check vendor account. If you're wondering whether applying for Lowe's business credit involves a hard credit pull, don't assume it doesn't just because the account is commercial. Consider the application and credit-review process when deciding whether to apply.
Because the Commercial Account is geared toward established businesses, you may want to consider the MyLowe's Pro Rewards credit cards or other business credit products if your business is newer or has a thin credit history.
To apply, start with Lowe's Business Credit Center or apply in a Lowe's store. If you're approved, you'll receive the account and can register for online servicing. Builders who belong to the National Association of Home Builders may also qualify for a member credit offer.
If you need an EIN before applying, Nav's guide to getting an employer identification number can walk you through the process. Nav is not a lender or a credit bureau. Credit information is provided by third-party sources.
Pros and cons of the Lowe's Commercial Account
Not sure if a Lowe’s Commercial Account is right for your business? Consider the pros and cons below.
The biggest advantage is the combination of Lowe's purchasing, extended payment terms, and business credit reporting. If you're already spending money at Lowe's, the account can do more for your business than simply offering a discount.
The biggest limitation is that it's a Lowe's account. If you don't regularly buy there, opening the account solely to build business credit won’t make sense.
Who should get the Commercial Account?
The Commercial Account may make sense if your business buys from Lowe's regularly and you have enough cash flow to pay the account in full when the bill is due.
For example, a contractor might buy materials for a project, complete the work, get paid by the customer, and then use that cash flow to pay their Lowe's balance.
But if you want rewards and the ability to carry a balance, a MyLowe's Pro Rewards credit card is a better fit for that particular use case. And if your business buys supplies from many different vendors, a general-purpose business credit card may offer more flexibility.
Also consider whether you split your purchasing between Lowe's and Home Depot. In this case, compare the Lowe's Commercial Account with Home Depot's commercial account options. Their terms, discounts, requirements, and credit reporting differ.
For other business credit options, see Nav's business credit card marketplace.
Managing your account
The Lowe's Commercial Account is serviced through Synchrony. You can use the Lowe's commercial account portal for statements, payments, and account management.
If you need help with your account, use the servicing information provided by Lowe's or Synchrony rather than searching for a generic Lowe's business credit card number. The products have separate servicing channels.
The bottom line
The Lowe's Commercial Account is the Lowe's product that behaves most like a vendor net-terms account and reports payment history to business credit bureaus. It can be useful for businesses that buy from Lowe's regularly and can pay their balances in full under the account terms.
The MyLowe's Pro Rewards credit cards are different: They're revolving credit products designed for businesses that want rewards and the ability to carry a balance. MyLowe's Pro Rewards itself is a free loyalty program, not a credit account.
If you're building business credit, consider pairing a Lowe's account with vendor accounts that report to other business credit bureaus. A broader mix of reporting accounts can help you establish a more complete business credit file.