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how long to wait

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Anonymous
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how long to wait

Hubby and I bought a house. He was just approved for 2800 with Lowe's on Saturday with a 750 TU, 704 EQ, 728 EX, no collection, no late payments. We need carpet badly and wanted to apply for credit through Synchrony bank this week. my credit is low to mid 600 with 4 paid collections 2+ years and no new inquiries for three months. Advise? is it likely he will be denied since we just got credit a few days ago? Or is there an okay chance I can be approved?
Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: how long to wait

I would reconn for a higher limit if 2800 is not going to be enough.

Message 2 of 4
Anonymous
Not applicable

Re: how long to wait


@Anonymous wrote:
Hubby and I bought a house. He was just approved for 2800 with Lowe's on Saturday with a 750 TU, 704 EQ, 728 EX, no collection, no late payments. We need carpet badly and wanted to apply for credit through Synchrony bank this week. my credit is low to mid 600 with 4 paid collections 2+ years and no new inquiries for three months. Advise? is it likely he will be denied since we just got credit a few days ago? Or is there an okay chance I can be approved?

Just an FYI, I am not sure if you were thinking about buying carpeting from Lowes or not, but you should check your local area for stores that deal in carpet remnants, many times they have large pieces that will do a good sized room for a fraction of the price and it is often of great quality. I have saved big money in the past going this route, as long as it looks good who cares where you bought it.

Message 3 of 4
takeshi74
Senior Contributor

Re: how long to wait

Impossible for us to say.  It's not simply a matter of time but one's credit.  If you have collections then hit the Rebuilding subforum and carefully research to see what you can do to address them.

Message 4 of 4
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