Lowe's

[Anonymous]

Anyone have difficulty with Lowe's?  I got a card in 6/04 and at the time we had moved into a house and had applied for a bit of credit to help with the move and renovations, etc.  I was only approved for a measly 200.00.  Then something weird happened when I paid off Lowe's and Target and my credit lines were dropped.  Target went fro 1500.00 to 500.00 and Lowe's went from 200.00 to 180.00.  Since that time Target increased my credit line to 5000.00, but Lowe's has forever stayed the same.  I have rarely used it, and used in December because I figured I needed to use it occasionally.  I went today to get a CLI and was denied faster than they could have possibly even pulled a credit report.  My scores are sitting at 620-636 between the 3, TU, EQ and EXP.  I know that isn't the best and the only thing really hurting me at this point is my high balances on some of my other cards, but after 4 years being a customer and never paying late, etc. just not sure what the deal is with them. 

Juli

[Eric958]

I'm thinking you may want to close the acct and then reapply. If they don't approve you or give you a better CL the second time around then you will have to ask yourself do they deserve you as a customer.Sometimes in life we have to take a stand!


E!

Message Edited by Eric958 on 07-19-2008 11:17 AM

[Anonymous]

do not close and reapply.. you would be loosing all of that history and age. IMO, call them and THREATEN to close. Look for a backdoor number

[NikJ4]

I think they got mad at me also, I am an AU on my mom's Lowes acct. Just got acct 2 months ago and only put 31 dollars on it. They moved the credit limit down from $500 to $140. No changes in her credit . They are really funny acting. I am hoping after 6 months they will be kind and increase.

[mrlimo]

I never have had a problem with them. When I apped for there 6 months same as cash deal on a new dish washer they approved me for a high cl, that was about 1.5 years ago. Although I have never seen any cli from them. I took the dish washer final price divided it by 6 and that is what I paid each month till it was paid off. I just recently bought $10.00 is stuff on it to keep active besides that it already served its purpose...

[Eric958]

You will NOT lose any history. This tl should report for 7- 10 years.All I'm getting at is if I were an UW and you were asking me to approve you for an acct with me I would be wondering why a major creditor like Lowes would give you such a measly cl after 4 years of you being a decent customer! what is it that lowes knows about you that I may need to know! I don't know how many accts you have and for how long so I don't know what the impact of you closing an acct would be. I do know you could give your valuable business to Home depot or another company that carries similar products. Don't be a SLAVE to a fico score. YOU are more then a score and you deserve the best of everything!


E!

Message Edited by Eric958 on 07-19-2008 05:37 PM

[Schoolbuskid]

They declined me for problem with telephone! I guess we've had the phone for about 2-3 yrs~

[Anonymous]

Don't hold your breath.  I have had mine for 4 years and no such luck.

Juli

[haulingthescoreup]

The wonderful world of GEMB cards.

From what I've read here about Lowe's cards, if you initially apply with really good credit and reasonably high scores, you'll get a high CL. If you first apply with shakier credit and lower scores, you're more likely to get a low CL and little luck in getting it to significantly increase.

OP, when your scores get up around the 700 level, if GEMB hasn't shown you some love, you might go get a Home Depot card, go to the service desk at Lowe's, and ask if they can help you get a decent CLI on the Lowe's card. But I have the feeling that the people in the stores have little ability to get through to the people at GEMB.

This sort of thing is why I got an HD card instead, even though I prefer Lowe's in some ways. Whenever I shop there, and they ask if I'd like to open a Lowe's account, I wistfully tell them that I will, if they ever get a decent bank behind their card. Just a little consumer feed-back. FWIW, they usually sigh and say that they wish Lowe's would change banks, too, so it's not as if this is news to them.

[Anonymous]

Thanks I do have a Home Depot with a 2100.00 limit.  Now when I do get my scores up higher I will try again.  I will explain to them that I have spent 8-10,000 dollars at Home Depot over the years that I have spent total maybe 500.00 at Lowe's due to their piddly CL. 

Juli