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Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Lowe's card easier than Home Depot.

DH was denied at Home Depot, wrote recon letter - still denied.   He got approved on the spot for 1000K at Lowe's - both use GE Money Bank.  I think the difference is he applied at the register at Lowes, applied online at Home Depot.  What do you guys think?   Home Depot used EXP and I don't know yet which Lowe's used.

 

Our Credit Union ran our credit w/ EQ and we were approved for a whopping 400.00 overdraft protection.  They denied me to get a 400.00 credit card so I can finally close First Premier.  They said wait a couple months to see how we do.  His scores should get a lot better w/ 2 revolving accounts now instead of none.

 

We are going to need a new roof in a year.  at least 5K bc DH's BFF does roofs and he has all the tools etc.  Should we use the Lowe's Project Card or take out a loan on the house?  The credit union said there are a lot of fees involved to get a roof loan on the house - Depending on which "tier" we qualify for, the interest at Lowe's ranges from 7.9 to 17%. 

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007
0

Re: Lowe's card easier than Home Depot.

Home Depot is backed through Citi, Lowes is GE.

Not sure how the project card works for approval when you just got approved for 1k store card.

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Frequent Contributor
rbh
Posts: 356
Registered: ‎06-25-2009
0

Re: Lowe's card easier than Home Depot.

My suggestion would be to use the Lowe's card as much as you can (only buy things you would have purchased anyway and pay in full) throughout the next year, hitting the LUV button every 4 months.  Lowes can get pretty generous with the CLI's especially by the 2nd or 3rd one.  Then hopefully you will have enough of a CL to purchase your materials with promotional financing.

AMEX Blue Cash - $15k, Lowes/GECRB - $10K, PNC - $10K, CIti Diamond Preferred - $10K, Home Depot/Citi - $7590, Best Buy Store/HSBC - $7400, Citi Platinum Select - $7150, Best Buy RZMC/HSBC - $5750, Dillards/GECRB - $4350, Discover More - $3600, Cap 1 Cash Rewards - $3000, Amex HHonors - $2000, State Farm - $2000, Cap 1 MTV - $1500
Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Re: Lowe's card easier than Home Depot.

Sweet - good advice.  yep I plan to use and pay, use and pay and use and pay. The cashier said we can request CLI's at the store - maybe that would be a better route than the luv button?  Thanks!

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007
0

Re: Lowe's card easier than Home Depot.


Booner72 wrote:

Sweet - good advice.  yep I plan to use and pay, use and pay and use and pay. The cashier said we can request CLI's at the store - maybe that would be a better route than the luv button?  Thanks!


I actually have not heard of applying for CLI in store... maybe good option if you are trying to make a 2k purchase and you have a $500 CL, maybe they can get into a different line of agents at GE vs. you... otherwise I would probably just request online every 4 months..(4 months of statements, not 4 months of no use)

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Re: Lowe's card easier than Home Depot.

Do you think Lowe's WILL report me as an AU since they are GEMONEY?

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007
0

Re: Lowe's card easier than Home Depot.

Yes, GE reports AU

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Valued Contributor
scottwagnon
Posts: 1,350
Registered: ‎02-07-2010
0

Re: Lowe's card easier than Home Depot.

i closed my 12,100 home depot line of credit yesterday. i will never shop at home depot again. it is a very dysfunctional, and full of employees that have absolutely no self-respect.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Re: Lowe's card easier than Home Depot.

FYI:  Lowe's hit DH's credit reports already.  Just posting this in case anyone ever comes along wondering about Lowes.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Valued Member
txbradybunch
Posts: 42
Registered: ‎06-17-2008
0

Re: Lowe's card easier than Home Depot.

Lowe's has given me a generous credit line with regular increases.  They did hit me with the decrease at one point when it seemed every card company out there was, but all in all a good experience with them.

 

Years ago I had a Home Depot card with the pitiful $500 credit line - wanted to get materials for one of those great wood swingsets for the kids.  They would not budge to raise my line.  I ended up cancelling the card.  Fast forward years later with several paid off autos, a home mortgage, etc...... app'd for H.D. - approved with the pathetic $500 credit line and it just sits there...... I have 7 times that much credit with lowes.  Lowe's gets my business...... only reason I have not cancelled home depot is that my husband has to buy nuts and bolts and such for work all the time and I would rather have him run to home depot and get the reimbursement from his employer to pay the bill rather than front the money from my bank account.

 

 


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