Home Depot Credit Card

[book1773]

I was approved for the home depot department store card

with a $750.00 limit. Is that a normal limit when you first

get the card?

Anyone who has a card from home depot your feedback would be

great. Also if you have the store card is it easy to get the mastercard

from home depot as well.

I have all ready called them to put in a request for CLI

and I am waiting on the underwriters to see if they approve it.

I was looking more torwards a $3000.00 limit since you have a lot

of high ticket items there..

[micherson74]

I used to work at Home Depot, and they no longer offer the Mastercard for new applicants (if it is the rewards card you are talking about).  I was a cashier there, and ran many credit applications over the two years I worked there and I never saw an approved application get less than $6000 for a limit.

[MS00000000]

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@book1773 wrote:

I was approved for the home depot department store card

with a $750.00 limit. Is that a normal limit when you first

get the card?

Anyone who has a card from home depot your feedback would be

great. Also if you have the store card is it easy to get the mastercard

from home depot as well.

I have all ready called them to put in a request for CLI

and I am waiting on the underwriters to see if they approve it.

I was looking more torwards a $3000.00 limit since you have a lot

of high ticket items there..

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I started with $1000 and used it almost exclusively for deferred interest purchases. After about 7 months or so, they gave me an auto CLI to $1500. From what I've read here, they are very good about giving increases automatically and if you walk up with a cart full of expensive things, they might be even more likely to give you an increase in store right then.

[RockinRay]

When I applied, I was given a $1600 limit. I called them right away and told them I wanted to purchase a lawn tractor that was $1700.00. They jumped me to $2200 where it sits today. I ended up with a regular mower instead and PIF when the statement arrived.

I have thought about requesting the CLI via the website. Would like to have $6000 or so for some new applainces!

Too chicken to push the "Submit" button. I hate rejections! 

Ray

[book1773]

Thanks for the feedback.. Knowing that is a high ticket store meaning a lot of things

cost quite a bit of money $750.00 is like losse change there.. Maybe I can purchase

a few paint brushes but thats probably going to max me out. To be able to shop comfortably

I would say someone needs at least $6000.00 to shop with. You know if you want to get some carpet

for your house or a new sink ect..

[haulingthescoreup]

They gave me $4K back when I applied in spring of 2008, pre-economic crash. My scores were somewhere in the 710's or 720's. Is there something on your credit reports that they might be concerned about? --high reported balances, etc., even if you then pay them off.

I requested a CLI to $5K ($1K increase) last week, and I got it, although they pulled a hard and I had to wait several days. They increased it to $5.5K, more than I asked for; dunno why.

[book1773]

Haulingthescoreup from what I know everything looks good on my credit report

my debt ratio is at 21% and would when one of my cards up date it should drop it

lower then 20% but besides that no.. I didnt apply in person but online so I am not

sure if that makes a difference. I have all ready asked them for a CLI and I am waiting to

see what happens.

But ya $750.00 seems way to low for a big ticket item store.

[haulingthescoreup]

They might be more reasonable when your reported util gets down to a more manageable figure.

In the past, others have had success by filling up their bright orange shopping cart at the store and going to the service desk, asking for help with a CLI. They call the credit department, eyeing that load of stuff they'll have to restock. 

But I would definitely wait until your new balances update.

As you are new to the forums, have you learned the trick about letting only one CC report a token balance, paying all the others off before their statements drop so that they report $0? (Obviously, this only works if you don't carry balances, which you don't want to do anyway.)

Revolving util is the single item most controllable by consumers, as long as we have the money, of course. The game can be a bit annoying, but the score jumps are pretty addictive to many of us.

I had a ton of statements that seemed to update all at once before I'd paid them off (working two jobs and got distracted), and I lost 25 points for having too many accounts with balances. My util didn't increase that much, but along with the multiple accounts with balances, it was a temporary killer. I have 19 points back now, and the rest should return once I get back to my usual one-card-reporting-a-balance status.

[mygoal750]

I applied online last year, and was approved with a CL of $1800.  I charged $500 in December, paid it off last month (12 months 0%).  Right after I paid that off, I did a CLI request online.  I requested $1200 but they gave me $1500, CL now $3300.  I also got a Lowe's card last year (same time)...was approved @ $1800.  I am still paying off my 12 months 0% purchase (to be paid this month), but last December (I had card for 6 months), they gave me auto CLI to $3000.  I have heard that if you apply in-store when ordering big ticket items, the CL will be substantailly higher than applying online.