topic Re: Using Personal Lowes Card For Business Expenses in Business Credit

Using Personal Lowes Card For Business Expenses

Anonymous — Tue, 28 Jun 2016 06:24:39 GMT

Anyone run into trouble using their personal Lowes CC for business expenses?

I just got a Lowes personal card for the financing options and 5% off - at the same time, I've got a reseller permit on file to get tax exempt status on business purchases (personal stuff I still pay tax on).

I don't want to take another HP to get a business card, but the 5% off would help my margins a bit.

Re: Using Personal Lowes Card For Business Expenses

Creditaddict — Tue, 28 Jun 2016 15:38:15 GMT

I don't think it's really an issue.

Re: Using Personal Lowes Card For Business Expenses

Anonymous — Tue, 28 Jun 2016 21:35:32 GMT

You shouldn't run into any problems taking advantage of that offer for business purposes.

Re: Using Personal Lowes Card For Business Expenses

Anonymous — Tue, 28 Jun 2016 21:43:06 GMT

Thanks for the confirmation. I've run across some threads about Amex getting antsy when people use their personal cards for business (granted, those people were running alot of money through their cards). I didn't think it would be a problem, but better safe than sorry.

Re: Using Personal Lowes Card For Business Expenses

Anonymous — Tue, 28 Jun 2016 21:50:33 GMT

@Anonymous wrote:
Thanks for the confirmation. I've run across some threads about Amex getting antsy when people use their personal cards for business (granted, those people were running alot of money through their cards). I didn't think it would be a problem, but better safe than sorry.

Ideally, it is always good to seperate business trannsactions from personal but if you are not going overboard and just wanted to take advantage of an offer, you should be fine. I know you don't want a hardpull, but have you looked into the Lowes card offered through Synchrony?

Just a food for thought..

Re: Using Personal Lowes Card For Business Expenses

CreditUnionFan — Mon, 04 Jul 2016 11:34:04 GMT

@Anonymous wrote:
Anyone run into trouble using their personal Lowes CC for business expenses?

I just got a Lowes personal card for the financing options and 5% off - at the same time, I've got a reseller permit on file to get tax exempt status on business purchases (personal stuff I still pay tax on).

I don't want to take another HP to get a business card, but the 5% off would help my margins a bit.

For a definite answer you'd want to read the T&C for the personal card to determine if the terms and conditions state that the card is not to be used for business purchases. At the store level, using a personal card with a tax reseller license may bring attention to the purchases. I can understand wanting to avoid the HP, but the business card(s) may be a better option in the long term since even though you PG the card, the monthly business account usage would not appear on your personal credit report unless the business account were delinquent. There are actually two versions of the Lowe's private label card available - one offers revolving credit while the other offers Net55 terms, IIRC. Amex offers several personal and business credit cards that the Lowe's version may not be desirable to reserve one of the four (or rumored five) credit cards that Amex will allow as a maximum.

Depending on the state that you live in, if you're performing home improvement services that could affect whether the reseller certificate can / should be used.