topic Re: Lowe's Card in Credit Card Approvals

Lowe's Card

Anonymous — Tue, 13 Oct 2020 17:42:26 GMT

They FINALLY approved me. After being declined 3 months ago!

Only a $400 SL though...

I plan to buy a $150 item and set up Auto-Pay @ $50 to get payment history established.

MY QUESTIONS:

1) How many payments must I make for a CLI with Lowe's/Synchrony?

2) HP or SP?

3) If it's $400 SL, what do you ESTIMATE I may expect my first CLI to increase to?

4) How often does Lowe's allow Requests for CLI's?

My Credit:

700 scores

NO baddies

Zero Debt ($150 just to have a balance)

Toshiba 03/2011 @ $4,500

Capital One 07/2018 @ $400

The Home Depot 08/2020 @ $500

Target 09/2020 @ 500

About 5-7 Inq. Each Bureau

Re: Lowe's Card

K-in-Boston — Tue, 13 Oct 2020 17:57:30 GMT

@Anonymous wrote:
They FINALLY approved me. After being declined 3 months ago!

Only a $400 SL though...

I plan to buy a $150 item and set up Auto-Pay @ $50 to get payment history established.

MY QUESTIONS:

1) How many payments must I make for a CLI with Lowe's/Synchrony?

2) HP or SP?

3) If it's $400 SL, what do you ESTIMATE I may expect my first CLI to increase to?

4) How often does Lowe's allow Requests for CLI's?
My Credit:

700 scores
NO baddies
Zero Debt ($150 just to have a balance)

Toshiba 03/2011 @ $4,500
Capital One 07/2018 @ $400
The Home Depot 08/2020 @ $500
Target 09/2020 @@ 50

About 5-7 Inq. Each Bureau

Welcome to the forums! Congratulations on the approval. Unless the $150 purchase is a 0% promotional purchase, I'd suggest paying the statement balance in full rather than accruing interest. That would negate the 5% savings for using the card, and one payment of $150 and no payments of $0 for the next two months would result in the same payment history gains but also save you money.

1.) None. If one is creditworthy a CLI can be requested and granted before you even receive the card in the mail.

2.) Synchrony CLIs are SP.

3.) This depends on creditworthiness and individual profiles. Many members have reported calling Credit Solutions and getting very large increases granted.

4.) For the Lowe's card there is no limit for requests. I called and got an increase immediately after approval then requested monthly until I hit the credit line cap.

Re: Lowe's Card

TSlop — Tue, 13 Oct 2020 18:03:49 GMT

Congrats on your approval!

Re: Lowe's Card

Anonymous — Tue, 13 Oct 2020 18:07:09 GMT

@K-in-Boston Great news! I had opened that Home Depot, with plans of growing and using once it hit $5,000 CL... But was told HD BARELY grows...

But was told Lowe's EASILY grows...

You mentioned a CL Cap... What is their ceiling?

So ONE single payment makes me as eligible for CLI's as 3 or 6 payments?

Just making sure I do this as PERFECT as possible -- as I want the BIGGEST CLI's, as QUICKLY as possible.

I want to remodel my Kitchen and Guest Bath in 2021 if possible.

Re: Lowe's Card

AllZero — Tue, 13 Oct 2020 18:09:17 GMT

Congratulations on your approval!

Re: Lowe's Card

AllZero — Tue, 13 Oct 2020 18:10:46 GMT

IIRC $35,000 is cap without providing POI Proof Of Income.

Re: Lowe's Card

Anonymous — Tue, 13 Oct 2020 18:14:00 GMT

Congrats on your approval!

Re: Lowe's Card

Anonymous — Tue, 13 Oct 2020 18:35:03 GMT

$35,000 is the cap.

I got mine 4/2/2018 with a $300 limit, and scores in the lower 630s. In less than four months with very little profile change and maybe $130 run though the card, I went up to $6000. My next CLI came awhile later to $12,000. I bumped up to $17,000 this spring, and to $30,000 last month.

The card definitely grows fast

Re: Lowe's Card

addicted_to_credit — Tue, 13 Oct 2020 18:52:59 GMT

Congrats on your success! I went from a 7k starting limit to 35k with 68 dollars worth of spend. According to Experian, the account was opened 24, February 2020. I dont necessarily like Lowe's as much as Home Depot.... I've spent thousands on lumber and whatnot building fences and barns for the hoof babies.

The Home Depot card just will not budge for me. I'm sure Citi isn't as liberal as Sync and that's part of the issue - then there's the coveted credit seeker badge I've earned as well and that's probably the other larger part of the issue.

Just use it pay it in full if you can ..... wash rinse repeat and it will surely grow.

Re: Lowe's Card

CYBERSAM — Tue, 13 Oct 2020 18:59:00 GMT

Congrats on your approval 👍

Re: Lowe's Card

CreditAggie — Tue, 13 Oct 2020 19:41:56 GMT

Congratulations on your Lowe's approval!

Re: Lowe's Card

gdale6 — Tue, 13 Oct 2020 21:03:31 GMT

Grats on the card and welcome to the board

Re: Lowe's Card

cashorcharge — Tue, 13 Oct 2020 21:13:44 GMT

Congratulations on your new card!!

Re: Lowe's Card

M_Smart007 — Tue, 13 Oct 2020 21:18:23 GMT

Congratulations on your Approval.. and welcome to the forum!

Re: Lowe's Card

MyFault — Tue, 13 Oct 2020 21:27:14 GMT

Congrats on your Lowe's approval!

Re: Lowe's Card

addicted_to_credit — Tue, 13 Oct 2020 23:58:21 GMT

Granted you can't compare profiles but here's one in a similar boat:

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Lowe-s-CLI-WOW/td-p/6160899

Re: Lowe's Card

Anonymous — Wed, 14 Oct 2020 01:00:17 GMT

@Anonymous wrote:
$35,000 is the cap.

I got mine 4/2/2018 with a $300 limit, and scores in the lower 630s. In less than four months with very little profile change and maybe $130 run though the card, I went up to $6000. My next CLI came awhile later to $12,000. I bumped up to $17,000 this spring, and to $30,000 last month.

The card definitely grows fast

Except for me lol. I'm stuck at 9200 and was declined for a CLI.

I'm going to pull back the face of the card. It might be a 🏡 Depo card under there.

Re: Lowe's Card

Harvey26 — Wed, 14 Oct 2020 03:09:45 GMT

@Anonymous I mean they are matching your average CL. Have you tried to get like an AMEX or Discover or Chase Card with a higher SL.

Re: Lowe's Card

gingerflower — Wed, 14 Oct 2020 03:21:54 GMT

Congratulations on your Lowes Cc. I would call Credit Solutions and request a higher credit Limit.

Re: Lowe's Card

Anonymous — Wed, 14 Oct 2020 03:23:11 GMT

OP, go ahead an request a CLI now. No need to wait.

I had low 700s scores back in 2016 and only one open CC at the time (Cap One) with a $3500 limit. When I applied for Lowe's I received a $3000 SL which I immediately (maybe next day?) bumped up to $30,000 with one quick 2 minute phone call.

A couple of years later I bumped it up to $35,000 just because I knew I could from reading on this forum and that's where it sits today.