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LOWES CREDIT CARD?!

New Member

LOWES CREDIT CARD?!

I am closing on my house soon and will need window treatments that will run around $4k. My credit is only fair so I'm wondering if it's even worth a hard inquiry applying for it only to get a small credit limit that Wont really help. My scores are 653/645/644. Help please😳
Message 1 of 9
8 REPLIES
Frequent Contributor

Re: LOWES CREDIT CARD?!

Congrats on the home! I would say you may be ok getting approved for a Lowes card. They are backed by Synchrony and getting approved for their credit cards are fairly easy. I don't know if you will be approved for your preferred amount of $4000, but you can always try and calling credit solutions to get an increase. Lastly, I am sure you are aware that you should wait until you close and have keys in hand before applying for credit. Good Luck!
Scores 8/25/2017~ TU: 753 / EXP: 742 / EQ: 726
Goal: 770's or higher by end of 2017
Message 2 of 9
New Member

Re: LOWES CREDIT CARD?!

I've has a Lowes card for several years. I originally wanted $1600 for windows but I was approved for $1200 and they wouldn't give me the extra $400 thats been a few years and now im up to $6200 most increases without asking. So if you pay right they will give you increases which is good.

Message 3 of 9
New Member

Re: LOWES CREDIT CARD?!

Thanks you guys for the info! I've had a horrible time trying to get my scores up. The only baddies I have are 5 old medicals. I've never had charge offs or late payments on anything. My credit cards are paid down but my score simply will not go up!
Discover 1200cl ($5 balance)
Amex 1000cl ($20 balance)
Amex 2000cl (zero balance)
Capital one 850cl (zero balance)
Synchrony furniture card 1500cl (zero balance)
Ashley furniture card 4800cl with consigner (zero bal)

What else can I do to get the score to raise? I'm at a loss!
Message 4 of 9
Frequent Contributor

Re: LOWES CREDIT CARD?!

Congrats! I think you can get the Lowe’s card. My scores are similar to yours and I got approved for it last month but they only gave me a $300 limit, so not sure if you’ll get approved for the amount you need right off the bat.
Starting Score: EQ 606 TU 623 EX 598 - April 17'
Current Score: EQ 648 TU 660 EX 666 - December 17'
Goal Score: EX 750 TU 750 EX 750


Take the myFICO Fitness Challenge
Message 5 of 9
Frequent Contributor

Re: LOWES CREDIT CARD?!


Bryanswife wrote:
Thanks you guys for the info! I've had a horrible time trying to get my scores up. The only baddies I have are 5 old medicals. I've never had charge offs or late payments on anything. My credit cards are paid down but my score simply will not go up!
Discover 1200cl ($5 balance)
Amex 1000cl ($20 balance)
Amex 2000cl (zero balance)
Capital one 850cl (zero balance)
Synchrony furniture card 1500cl (zero balance)
Ashley furniture card 4800cl with consigner (zero bal)

What else can I do to get the score to raise? I'm at a loss!

Try letting only 1 card report a balance, You have 2 cards reporting a balance right now.

 

When you apply for Lowe's, try doing it in store, you may get a higher limit.

Message 6 of 9
Regular Contributor

Re: LOWES CREDIT CARD?!

Do you have an installment loan of any type on your report? (If not, search Alliant SSL)

 

How old are each of those cards?

2017-09-09 FICO 08: EQ 677, TU 640, EX 705
2017-11 FICO 08: TU 700, EX 716
2017-12 FICO 08: EX 722
Gardening until Jan 1, 2018
Approvals Data Dump: https://pastebin.com/Lz7yZZvv
Message 7 of 9
New Member

Re: LOWES CREDIT CARD?!

I do have an installment loan. It's about 8 months old and all payments have been made on time. The oldest card I have is the cap one and that's 1.5 yrs. the others are 6 months or less. My credit is too new for sure. That's the long thing that I can think of that's keeping my score from going up. I'm also nervous about how low my scores will drop once the mortgage shows up😐
Message 8 of 9
Highlighted
Regular Contributor

Re: LOWES CREDIT CARD?!

That puts your AAoA at 8 months max. Based on my limited understanding, you should see a bump once you reach 1y AAoA with the 3+ accounts.

2017-09-09 FICO 08: EQ 677, TU 640, EX 705
2017-11 FICO 08: TU 700, EX 716
2017-12 FICO 08: EX 722
Gardening until Jan 1, 2018
Approvals Data Dump: https://pastebin.com/Lz7yZZvv
Message 9 of 9