Home Depot Store Card

[Anonymous]

Applied online yesterday and got instant approval for the standard $1250 with scores of roughly 680-700. this morning i requested CLI online and got this message...

"We received your Credit Limit increase request and have forwarded it to our Credit Department for review. You'll receive a response from us via U.S. mail within 7-10 business days.

Thank you for using our website."

is this standard euphemism for a decline?  or will they review and possibly approve?

fwiw, i applied for $7000 CLI with 100K income.

[Anonymous]

I am interested in this answer too... I am in the process of buying a home and I want to take advantage of their 10% first purchase thing to spend on bamboo flooring.  If I am able to get a $2000 CL than it would mean $200.  Good luck on the CLI!

[haulingthescoreup]

From what I've read, your chances for a CLI are greatly improved if you make the request in store, with a full shopping cart.

[MrShush]

My experience with their card has always been generous and regular CLIs when I carried a balance. Of course since the new regulations have been in place, you can't carry a payment free balance (which we always took advantage of), they were more eager to give me 90 day increases when I had those larger balances.

[Anonymous]

From what I've read on other posts for the Home Depot card, mowst people have said the response is that the card needs to age 6 months before a CLI, and from then on you can request, (and apparently usually receive) and increase every three months.

That could just be the luck of the draw, or the difference of another person's credit situation, but that is what I've primarily seen.

Mine was just approved too, waiting for it to arrive in the mail. We're looking at applying for a mortgage in the next year to year and a half, and wanted to get either Home Depot or Lowes now, and let it grow for when we really need it.

Let us know if you're able to get an early increase though!

[haulingthescoreup]

Since it appears that GEMB is about to acquire this card, it will be interesting to see how future CLI's are handled. 

I googled this the other day, and I haven't seen any no-never-mind updates, so it looks like it's actually happening.

[kysin2014]

That letter will definitely state that you must have some payment history before an increase can be granted.

[kysin2014]

It appears that GE Money Bank is taking over the majority of private label credit cards.  GE Money is pretty good about frequent credit line increases as long as you have four months of on-time payments in between.