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Regular Contributor
deg757
Posts: 118
Registered: ‎08-13-2012
0

Lowe's card

What credit score do you need to get a Lowe's (or Home Depot) card? Will my scores get me one? We are closing on a home in 2 weeks and need a washer/dryer.

Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
Valued Contributor
beb86
Posts: 1,115
Registered: ‎10-31-2011
0

Re: Lowe's card

who knows Lowes is backed by GE and Home Depot is backed by CITI

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Established Contributor
guydiver
Posts: 578
Registered: ‎08-30-2007
0

Re: Lowe's card


deg757 wrote:

What credit score do you need to get a Lowe's (or Home Depot) card? Will my scores get me one? We are closing on a home in 2 weeks and need a washer/dryer.


Lowes is GECRB.  They have an internal scoring system that is not a Fico score, I have a letter from them stating such.  They like to pull TU, but I know they have pulled my EQ on at least one occasion.  If you qualify for a mortgage, you will surely qualify for a Lowe's card, the only issue will be your starting limit.  Like most GE cards, they can be most generous with CLI's if you treat them well.  I don't see you having any problem, as long as you wait until after closing to app.  FYI, and YMMV, but if you want to make a significant purchase, I would apply in-store so you will have the added benefit of requesting a CL to accommodate your purchase.  Good luck.

MyFICO Forums ROCK!! & . Been There, Done That. Never Going Back! Goal>>>> 760 all 3.

Starting Score: 1/05 upper 500's??Current Score: FICO: EQ 730ish, TU 748(Barclay), EX 738(CS) Goal Score: .....800 IS ON MY BUCKET LIST! New DCU Member! .:smileyvery-happy:
In My Wallet: CU Visa 15K, Sam's Club 10K, Lowe's 15K, Cabela's Siggy Visa 11.5K,Travelocity AEX 18.9K
Valued Contributor
RockinRay
Posts: 1,947
Registered: ‎08-13-2007
0

Re: Lowe's card


guydiver wrote:

deg757 wrote:

What credit score do you need to get a Lowe's (or Home Depot) card? Will my scores get me one? We are closing on a home in 2 weeks and need a washer/dryer.


Lowes is GECRB.  They have an internal scoring system that is not a Fico score, I have a letter from them stating such.  They like to pull TU, but I know they have pulled my EQ on at least one occasion.  If you qualify for a mortgage, you will surely qualify for a Lowe's card, the only issue will be your starting limit.  Like most GE cards, they can be most generous with CLI's if you treat them well.  I don't see you having any problem, as long as you wait until after closing to app.  FYI, and YMMV, but if you want to make a significant purchase, I would apply in-store so you will have the added benefit of requesting a CL to accommodate your purchase.  Good luck.


+ 1.

Ray

** Every Card has a Job, and Every Card does its Job **

Valued Contributor
maiden_girl
Posts: 2,110
Registered: ‎12-29-2011
0

Re: Lowe's card


deg757 wrote:

What credit score do you need to get a Lowe's (or Home Depot) card? Will my scores get me one? We are closing on a home in 2 weeks and need a washer/dryer.


If you are closing on a home in 2 weeks...I advise not to open a new credit card account until you have closed escrow and your loan has funded. Opening a new account is a new liability to factor into the loan and will DELAY your processing and you may miss out on the house you picked.....wait.

 

The truth is out there...
FICO scores: 764 (EQ) 732 (EX) 757 (TU) 9/14 | Goal score: 750+ (all 3)
Tradelines: Capital One QS NPSL (5.0k) | Discover IT (6.0k) | Walmart Mastercard (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)






Regular Contributor
Scope27
Posts: 232
Registered: ‎08-30-2011
0

Re: Lowe's card

[ Edited ]

+100000

 

Lowe's denied me with a 650 TU and HD accepted me with a 640ish EQ.  I heard HD was harder to get but they granted a low 500 CL and after 6 months of moderate useage I took the hit for a CLI to increase my line to 2000 and they granted 2250 to bring my total CL to 2750.  This is a prime example of a YYMV situation.  I also had two GECRB backed cards when I app'd for the Lowe's card.

New Contributor
ssdc1980
Posts: 62
Registered: ‎05-03-2012
0

Re: Lowe's card

I was approved for the Lowes card with a TU score of 667. My starting limit was only $800 but from what I hear GE backed cards grow fast when treated right. I definitely agree with the previous posters though, I wouldn't apply for any new credit until you close on your home.

Epic Contributor
Creditaddict
Posts: 22,064
Registered: ‎10-23-2007
0

Re: Lowe's card

Close on house and then apply.... if at home call back door number, if in store you can try to let them do it but bring back door number just in case you have someone that doesn't understand how to do it... call in and ask for a lot! if you are already approved its not going to turn into a denial all together and they are not going to say no i can't give you $10k so I won't increase you at all... I think HD tends to show a little higher CL's on this recon with brand new apps but I have seen some high Lowes to on these forums.

I got lowes with $500, at time of my GE app spree my lowest which seemed weird since higher dollar store but I had kind of been out of the GE realm for a bit so i didn't know about the new manual review and getting away from some other country... to late by time i knew

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:
Established Contributor
CruzImperial
Posts: 869
Registered: ‎07-04-2012
0

Re: Lowe's card

+¹11111 to all above on waiting after closing the house. Don't lose it for a credit card.
I would suggest GE for their high growing limits with sps but it depends on your store location and local offers to find the best deals.
Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Super Contributor
CS800
Posts: 6,552
Registered: ‎04-07-2008
0

Re: Lowe's card


RockinRay wrote:

guydiver wrote:

deg757 wrote:

What credit score do you need to get a Lowe's (or Home Depot) card? Will my scores get me one? We are closing on a home in 2 weeks and need a washer/dryer.


Lowes is GECRB.  They have an internal scoring system that is not a Fico score, I have a letter from them stating such.  They like to pull TU, but I know they have pulled my EQ on at least one occasion.  If you qualify for a mortgage, you will surely qualify for a Lowe's card, the only issue will be your starting limit.  Like most GE cards, they can be most generous with CLI's if you treat them well.  I don't see you having any problem, as long as you wait until after closing to app.  FYI, and YMMV, but if you want to make a significant purchase, I would apply in-store so you will have the added benefit of requesting a CL to accommodate your purchase.  Good luck.


+ 1.


+2





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