Synchrony Takes Over Issuance of Lowe's Pro Credit Card, Expanding Beyond Store Limits
Event summary
- Synchrony now issues the MyLowe's Pro Rewards American Express® Card, expanding beyond Lowe's in-store usage.
- The new card can be used anywhere American Express is accepted, complementing the existing store-only card.
- Lowe's Pro customers can apply in-store or online, with no annual fee and rewards points on eligible purchases.
- American Express continues as the payment network for the card program.
The big picture
Synchrony's move to issue the expanded Lowe's Pro card underscores the growing importance of flexible financing solutions in the home improvement sector. This partnership strengthens Synchrony's position in the co-branded credit card space, while Lowe's aims to deepen its relationship with professional contractors. The deal reflects broader industry trends toward seamless digital financial services and integrated rewards programs.
What we're watching
- Customer Engagement
- How the expanded card usage will affect Lowe's professional customer spending and loyalty.
- Revenue Synergies
- Whether Synchrony can drive incremental revenue through broader card acceptance.
- Competitive Response
- The pace at which competitors like Home Depot may enhance their own professional financing offers.
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