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Can anyone help me with my options here?

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Anonymous
Not applicable

Can anyone help me with my options here?

 We did some work on our house, spent about $40K on home improvements but are coming up short and don;t have real great credit, but looking for a way to finance about $3K in flooring.. Current scores are 648/653/???, have a few lates about 18 mos ago and currently have about $18K in CC debt (but paying it down by about $600 a month)

 

 We have closed most of our CC accounts, onlu have one open with a $1000 limit by design.. But in a little pinch here with the kitchen ripped up, cabinets set to be installed..  Suggestions?

Message 1 of 9
8 REPLIES 8
Creditaddict
Legendary Contributor

Re: Can anyone help me with my options here?

Lowes might be your best option

Message 2 of 9
Anonymous
Not applicable

Re: Can anyone help me with my options here?

Home Depot has typically been easier to get than Lowes and they offered me twice the starting credit line Lowes did ($2400.). 

Message 3 of 9
Walt_K
Senior Contributor

Re: Can anyone help me with my options here?

What kind of flooring?  I know you were looking more for credit advice, but I put in my own hardwood floors a few years ago and ordered the flooring through Hurst Hardwoods.  I was skeptical at first because the flooring I chose was also available at Home Depot and was a little over twice as expensive.  But after looking at people's comments on them, I decided to risk it.  I was perfectly happy.  Not all of their inventory is so steeply discounted, but there can be some good finds there.  One thing to keep in mind is that it won't be as easy as dealing with a Home Depot in terms of returns for damaged pieces.  So order a little extra.  I ordered about 20% extra and still saved almost half of what I would have spent at Home Depot.  Hope that helps.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Message 4 of 9
Anonymous
Not applicable

Re: Can anyone help me with my options here?

I got a Lowes card about a month ago, they offered me a lousy $400 CL... Should I try the Project card?

 

We swore off carrying additional credit card debt 18 months ago, but I think we would go crazy having plywood floors in half our house for 2-3 months while we saved up for it.. Smiley Happy

Message 5 of 9
Anonymous
Not applicable

Re: Can anyone help me with my options here?

I don't suppose a refi on your home is a possibility?  Or a home equity loan?

Message 6 of 9
Uborrow-Upay
Valued Contributor

Re: Can anyone help me with my options here?


@Anonymous wrote:

I got a Lowes card about a month ago, they offered me a lousy $400 CL... Should I try the Project card?

 

We swore off carrying additional credit card debt 18 months ago, but I think we would go crazy having plywood floors in half our house for 2-3 months while we saved up for it.. Smiley Happy


 

betsy99, do yourself a big favor.  Go crazy waiting on the flooring instead of racking up more debt on credit cards you've already decided you really don't want.

 

That was the point in dumping your previous cards in the first place, wasn't it?

 

Stick with your plan.  Pay as you go (even if it hurts a bit), get your flooring when you can afford it, and knock out the existing CC debt as soon as possible.  The interest charges on those cards this year alone would probably have paid for that floor you need now.

 

You've already thought it out, so just do it, OK?   

 

Peace!  Smiley Happy

Message 7 of 9
Anonymous
Not applicable

Re: Can anyone help me with my options here?

Not going to do a refi, only talking about about $2200 as we are installing it ourselves..

 

I have asked the guy at Lowes about installing half the floor now, half a little bit later.. he said that might work, but also risk the flooring not matching exactly as the color can vary slighty from batch to batch..

Message 8 of 9
Uborrow-Upay
Valued Contributor

Re: Can anyone help me with my options here?

betsy99, since you've already apparently decided to get the flooring anyways, and install it yourselves, make really sure you do one thing that's very important.

 

When that wood flooring is delivered, you've got to let it acclimate to the temp and humidity in your home for at least several days before installing it

 

If you don't let that flooring get used to its new environment before the install, you will have problems with gaps between the boards, or heaved boards, etc., which will not be easy to fix without ripping it all up and starting from scratch.

 

Just a tip, hope it helps, and good luck with everything!  Smiley Happy

 

 

 

 

Message 9 of 9
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