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Established Contributor
Posts: 539
Registered: ‎07-12-2013
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Re: Lowes only approved me for $1,000?!?!?!?


SunriseEarth wrote:

yudeology101 wrote:

KennyRS wrote:
Call credit solutions and that 1k can easily turn into 10k or 15,20,25.

+1, ask for $40k and they'll counter and meet you somewhere in the middle Smiley Wink


LOL.   FWIW, I've never seen a GE backed card go higher than $29K, but may as well aim high


FWIW  Mariasoccermom went from 1k to 30k on the credit solutions CLI request.


Current Score: EX 712 4/28/15, TU 713 4/14/14 lender pull, EQ 722 7/1/15, 740 EQ bankcard 8 6/1/15 lender pull
Last app 6/1/15
Banks I have Blacklist/Return to sender: Langley FCU, BofA, Barclays, Citi

Established Member
Posts: 21
Registered: ‎06-23-2012
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Re: Lowes only approved me for $1,000?!?!?!?

Thanks everyone, I called Credit Solutions today and explained to them that I wanted to use their card to purhase the products to put a new roof on my shop.  I also explained what I was told and that I didn't understand it since I have zero credit card debt and only a mortgage and 2 vehicle loans.

 

They asked how much I would like and I said 25k but they countered with $2500 saying that they were being generous with that amount given the amount of debt that I currently have.  They stated that the 2 vehicles and mortgage are a bit too much on my debt to income ratio.  That makes no sense because I have over $6000 extra every month between my income and my Wife that is purely extra that I put into savings.

 

I immediately canceled the card after that and will be paying for the completion of my shop with my Credit Union Visa Smiley Happy.

Moderator
Posts: 6,890
Registered: ‎08-12-2013
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Re: Lowes only approved me for $1,000?!?!?!?


tehdrizzle wrote:

Thanks everyone, I called Credit Solutions today and explained to them that I wanted to use their card to purhase the products to put a new roof on my shop.  I also explained what I was told and that I didn't understand it since I have zero credit card debt and only a mortgage and 2 vehicle loans.

 

They asked how much I would like and I said 25k but they countered with $2500 saying that they were being generous with that amount given the amount of debt that I currently have.  They stated that the 2 vehicles and mortgage are a bit too much on my debt to income ratio.  That makes no sense because I have over $6000 extra every month between my income and my Wife that is purely extra that I put into savings.

 

I immediately canceled the card after that and will be paying for the completion of my shop with my Credit Union Visa Smiley Happy.


Sorry to hear that.   Make sure to get a copy of your TU, just to make sure everything is in order. 




Start: 619 (TU08, 9/2013) | Current: 764 (TU08, 8/17/15)
AMEX BCE $13500 | Sallie Mae WMC $12500 | Care Credit $10200 | JCP $8000 | Overstock $5800 | Macy's Store $5400 | BofA BBR $5000 | Citi DC WMC $5000 | Discover IT $5000 | Walmart Store $5000 | Amazon Store $5000 | Cap 1 QS $4750 | Sam's Club MC $4000 | AMEX Costco TE $3500 | Macy's AMEX $3500 | Sony Card $3250 | CU Visa $2500 | Gold Violin $2350 | Target $1000 | ~~Gardening Since 8/26/15
Established Member
Posts: 21
Registered: ‎06-23-2012
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Re: Lowes only approved me for $1,000?!?!?!?

[ Edited ]

Already had one prior to applying which is how I knew for sure that no balance is showing on my cards and my TU score is 805.

 

Apparently vehicles and mortgage are taken into account for debt/income ratio with Lowes.  Hard to believe that these people either make 200k per year or have no car payments and have their mortgage paid off in order to get a 20k+ liimt..

Established Contributor
Posts: 755
Registered: ‎04-03-2014
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Re: Lowes only approved me for $1,000?!?!?!?

I think a lot of people on here inflate their CL and success. They have abysmal scores and get these ridiculous credit lines, I don't think so.

Community Leader
Super Contributor
Posts: 7,668
Registered: ‎09-22-2012
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Re: Lowes only approved me for $1,000?!?!?!?


DrZoiberg wrote:

I think a lot of people on here inflate their CL and success. They have abysmal scores and get these ridiculous credit lines, I don't think so.


That's kind of a broad assumption.  Now I'm not gullible enough to believe everything I read on the internet, I can honestly say that I have never sugar coated my experiences with GECRB or any other lender.  GE gave me some of my highest limits when I still had sub-700 Fico score, but that was also prior to their IPO spin-off preparations.  At the end of the day, if someone seeks advice on something I have first hand experience with, the least I can do is share it - sometimes you win, sometimes you don't.

 

OP, sorry to hear they weren't as generous as you were hoping for and closed the account. 

 

Regular Contributor
Posts: 150
Registered: ‎10-20-2013
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Re: Lowes only approved me for $1,000?!?!?!?

[ Edited ]

DrZoiberg wrote:

I think a lot of people on here inflate their CL and success. They have abysmal scores and get these ridiculous credit lines, I don't think so.


My scores are in the 690 range and I was approved for $800 at Lowes. I called and they asked me how much I wanted and I said 10k and I was immediately approved. Saying that people are inflating their approvals on these cards is pretty reckless (and wrong) on your part.

Established Contributor
Posts: 539
Registered: ‎07-12-2013
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Re: Lowes only approved me for $1,000?!?!?!?

[ Edited ]

i was approved for $1k instant nov 2013.  waited 2 mos requested $5k got it.  next statement hit the cli got $1k.  Called credit solutions went to $15k waited a day called back again asked for $25k got it.

 

The following credit card limit has increased since your last score update on Apr 13, 2014:

Credit Card:   Balance: Previous Limit: New Limit: Change:

1. GECRB $0$6,000$25,000+$19,000

Current Score: EX 712 4/28/15, TU 713 4/14/14 lender pull, EQ 722 7/1/15, 740 EQ bankcard 8 6/1/15 lender pull
Last app 6/1/15
Banks I have Blacklist/Return to sender: Langley FCU, BofA, Barclays, Citi

Established Contributor
Posts: 755
Registered: ‎04-03-2014
0

Re: Lowes only approved me for $1,000?!?!?!?

I'm saying it probably happens. You don't have to take personal offense to it, like you did. It's easy to fudge and after reading through the board, I'd say it happens. Probably not as much maybe I first stated, but it does. Don't take offense to it, it wasn't directed to you, so move on.

Valued Contributor
Posts: 1,920
Registered: ‎10-24-2013
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Re: Lowes only approved me for $1,000?!?!?!?

yup 100% made up espi the interest rate of 8.9% fixed with a 27 month old chapter 7...i will however bet i whatever you wish to lose that if we show up and ask my cl in person at indiana members credit union that will say exactly what is stated below....

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