American Express Open and Lowe's Partner to Offer Small Business Cobranded Rewards Card

American Express Open and Lowe's Companies, Inc. announced an agreement to issue a co-branded rewards card that will allow small business owners to earn points on virtually all purchases and generate valuable rewards.

In a release, the Companies noted that the agreement brings together two of the most respected companies and valuable brands: American Express Open, an issuer of payment card products for business owners, and Lowe's, a home improvement retailer, to offer an array of benefits and services that will provide exceptional value for business owners. Lowe's has been a card-accepting merchant of American Express since 1982.

"Commercial customers have been an integral part of Lowe's history, and they are essential to our future growth," said Larry D. Stone, president and chief operating officer of Lowe's. "Our agreement with American Express will offer an innovative, new financing option to our commercial customers that will provide them with benefits and rewards for their purchases and additional value for their loyalty to both of our brands."

"With more than twenty years experience in serving business owners, American Express Open knows that our Business Cardmembers value choice and appreciate rewards," said Susan Sobbott, president, American Express Open. "Lowe's commercial business customers span many industries, including property management, business maintenance, trades, and contractors. Partnering with a leading retailer serving a wide array of commercial customers represents an outstanding opportunity to offer these business owners access to working capital they need to help manage their companies."

The Card will launch broadly in the first quarter of 2010.

((Comments on this story may be sent to health@closeupmedia.com))

Related terms: business, commercial, contractors, health, president, products, property management, small business