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Established Contributor
awdsmama
Posts: 755
Registered: ‎01-20-2012
0

Sears....Home Depot....Lowes...which one?

I posted this in the "rebuilding forum" and was told to try over here.  So forgive me for my copy/paste. ..

 

Right now I'm at a 590 EQ FICO, not sure on TU will pull that in a few months.  EQ will raise within the next few months as I pay off the last collection next month.  I have no open credit unless you count student loans.  No credit cards, personal loans etc.   I have no inquiries on my EQ either.

 

I plan on buying a home in about 2 years.   Possibly 18mos if I find a good deal.

 

i would like to get a credit card in a few months that will grow CL wise over the next few years and wonder if Sears, Home Depot or Lowe's store cards are something I'll be able to get with low 600 scores?  Or even worth getting at all?

 

Are one of them better than the others? 

Fico: 701 (5/22/14) 682 (5/9/2014)
Discover IT $5,200 / CU Visa $1,000 / JC Penny$3,000
App Free since 2/2013
Valued Contributor
jamesdwi
Posts: 1,892
Registered: ‎09-16-2011
0

Re: Sears....Home Depot....Lowes...which one?

You may get  a  Sears MasterCard  now but  it has a high AF for what you get usually  300-500 CL and they are now backed by capitalone so not known for CLI's. Just put getting a HomeDepot or Lowes card on the back burner when you are over 650 or probably after you purchase your house,  AP for the Home Depot card, they will most likely give you a low limit, call the number they give you on the same screen as your CL, and request a larger limit, they are very gracious with CLI's even before you have the card, I requested 4000 and it was granted 5 minutes later, no need to grow the HomeDepot card over time, they will grow on the sport some here have requested 25k CL and it was granted 30 minutes later. 

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: Sears....Home Depot....Lowes...which one?


jamesdwi wrote:

You may get  a  Sears MasterCard  now but  it has a high AF for what you get usually  300-500 CL and they are now backed by capitalone so not known for CLI's. ..... 

 

 



This is wrong.   CITI backs the Sears (MC and Store).   CITI also backs the Home Depot.   There are no AF.

 

I suggest you try for store card versions, as they are generally easier to get that cobranded ones.   

 

 

Valued Contributor
jamesdwi
Posts: 1,892
Registered: ‎09-16-2011
0

Re: Sears....Home Depot....Lowes...which one?

[ Edited ]

There are multiple Sears credit card the top teir Sears cards are backed by citi, and would not touch a  597 FICO,  where as the lower teir card backed by HSBC now purchased by CapOne and are willing to approve low fico scores perhaps even a 597 but come with an AF and a low limit that won't grow. 

 



Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Established Contributor
awdsmama
Posts: 755
Registered: ‎01-20-2012
0

Re: Sears....Home Depot....Lowes...which one?

I don't think I'd get a card backed by HSBC, I have a charge off from2006 and 2008 on 2 cards from them.  The original TL from HSBC shows on my CR but nothing from the CA's..they dropped a few months ago for some reason?

Fico: 701 (5/22/14) 682 (5/9/2014)
Discover IT $5,200 / CU Visa $1,000 / JC Penny$3,000
App Free since 2/2013
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: Sears....Home Depot....Lowes...which one?

 
Thanks for the clarification.
 
Valued Member
Wahoo
Posts: 28
Registered: ‎06-24-2012
0

Re: Sears....Home Depot....Lowes...which one?

I would try for the Walmart card backed by GECRB.  They approve low scores and the credit line will definitely grow.  I know the OP did not mention Walmart in the original post but they do carry alot of similar items as the stores listed.

EX08: 832 (myFICO 10/07/14)
TU08: 821 (Walmart/MC 10/06/14)
TU08: 834 (myFICO 10/07/14)
EQ08: 830 (myFICO 10/07/14)
EQ04: 802 (Digital Credit Union 09/26/14)
Valued Member
Wahoo
Posts: 28
Registered: ‎06-24-2012
0

Re: Sears....Home Depot....Lowes...which one?

And you get a free TU Fico score every month.

EX08: 832 (myFICO 10/07/14)
TU08: 821 (Walmart/MC 10/06/14)
TU08: 834 (myFICO 10/07/14)
EQ08: 830 (myFICO 10/07/14)
EQ04: 802 (Digital Credit Union 09/26/14)

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