Home Depot Vs Lowes?

[Bmn5940]

HI everyone!

So I'm helping my parents with getting new flooring for our house. (their credit is pretty bad due to my dad recovering from cancer)

My Fico is currently reading:

Citi Equifax- 671

Amex Experian- 707

Credit Karma Transunion(don't have an accurate TU Fico)- 672

The floor we picked out is offered at the same price at both lowes and home depot. The best option would be to use one of the cards for 6 months financing that way they can pay me back overtime without worrying about interest. My question is which card would I likely be approved for/be the best for what i'm asking.

My current card lineup is:

Cap one QS one: Limit $2300

Citi TYP: Limit $1600(was just SP increased 3 days ago)

Chase FU: Limit $500

Amex BCE: Limit $1500

AU on Amex ED: Limit $4000

Overall utilization is at 38% (If you dont count the AU card my cards sit at about 20%)

I have no lates, no baddies, clean reports but lacking average age of accounts(8 months)

Any advice would be appreciated as to which card I have better chances for the limit doesn't need to be more than 2K.

Also the reason I want a new card is because this is the first of many repairs to our home and we will be taking advantage of the financing option.

[Anonymous]

Try the pre approval for Home Depot, maybe it can help you see if you will be approved.

https://citiretailservices.citibankonline.com/CRS/acq/launch/index.action?langId=EN&siteId=PLCN_HOME...

[grillandwinemaster]

Quite honestly, with slightly bruised credit, I would DEFINITELY go with Lowes. They are underwritten by Synch, which is A LOT more forgiving than Citi when it comes to less than perfect credit. 

Also, Lowes offers either 5% off everyday, OR project financing. Just my 2 cents.

[AverageJoesCredit]

I know Credit Kama scores cant be relied on but going off mine, your Score is higher than mine , currently 646 VANTAGE(due to one cards high balance ) but i know for a fact im over 720 Fico! So you may well be over 700 Fico. Id recommend Lowes as well because its limit can grow to a monster with hardly any hps. You could get approved for 1k and within hours have that up to 10k +, happens all the time. A bigger limit will help you with your utilization. Maybe go to CreditCheckTotal and get your reports for $1 and youll know your true Ficos. Good luck

[Bmn5940]

Well applied in store for lowes and was denied called backdoor they told me wait for letter they can't disclose the info over the phone. Read on these forums about people denied for synchrony but approved at Home Depot. Applied for Home Depot through online and was also denied. Today sucked

[digitek]

Sorry to hear about that, keep your head up!

[Anonymous]

That does suck.  Hopefully you can recon the Lowe's.  Do you know what your TU score was?  They usually pull TU.  You can grab your FICO 08 scores from CCT for $1.  It would be good to know what score they pulled for you for your recon attempt.  If you're around 700 you stand a pretty good chance I think of getting it overturned.  Even if denied I'd try calling back a couple of different times to see if you can yield a different result from a different CSR.  Not sure if it's possible for you, but if you can take that utilization down below 29% it may help your cause, as it at least gets you from "fair" to the "good" range of utilization which is much more appealing.  That honestly could make the difference between an approval and a denial.  Not only would it mean a score increase (could be 5 points, maybe 10, who knows) but it's just a much better look when apping.  If you could take that utilization down and have it report quickly, that could help your recon - possibly even see if they'd be willing to hit you with another HP for the same app?

[oldman425]

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@Bmn5940 wrote:
Well applied in store for lowes and was denied called backdoor they told me wait for letter they can't disclose the info over the phone. Read on these forums about people denied for synchrony but approved at Home Depot. Applied for Home Depot through online and was also denied. Today sucked

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So last night I was denied Lowes but approved for Home Depot.  Guess I'll wait for the letter to see what's up.

[Anonymous]

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@Bmn5940 wrote:
Well applied in store for lowes and was denied called backdoor they told me wait for letter they can't disclose the info over the phone. Read on these forums about people denied for synchrony but approved at Home Depot. Applied for Home Depot through online and was also denied. Today sucked

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Today is actually your lucky day. Be very happy that this happened. TBH it sounds like fait helped you potentially dodge a bullet. From the sound of it, you were basically going to take out a loan for your parents (that you can't afford to pay outright, and neither can they) and bank on them paying you back. I'm weird with that family stuff, but I would strongly advise not lending a family member any money that you yourself cannot afford to give them in cash at this very moment. It is a quick way to end up with bad credit and a sob story.

[tnvols]

Tried the HD prequal link and got a $500 card with a 678 score, 4 months post Ch13 BK DC.  Thanks!  Took about 3 minutes total.