topic Re: Score needed for Lowes? in Credit Card Applications

Score needed for Lowes?

Anonymous — Sat, 09 Apr 2016 14:00:23 GMT

Hey folks! I am closing on my first home (!!!) on Monday and would like to apply for a Lowe's card afterward. I hear they pull TU which is good because that one is my highest. As of yesterday my TU score was 701. Do you think that is good enough to get a descent limit from them? I would really like to take advantage of their long term financing offer to finance a deck so I would need a sizable limit for the card to benefit me. What do you think?

Re: Score needed for Lowes?

Meanmchine — Sat, 09 Apr 2016 14:24:12 GMT

If your scores are good enough to close on a house, getting a Lowes should be a walk in the park

Re: Score needed for Lowes?

Anonymous — Sat, 09 Apr 2016 14:38:22 GMT

@Anonymous wrote:
Hey folks! I am closing on my first home (!!!) on Monday and would like to apply for a Lowe's card afterward. I hear they pull TU which is good because that one is my highest. As of yesterday my TU score was 701. Do you think that is good enough to get a descent limit from them? I would really like to take advantage of their long term financing offer to finance a deck so I would need a sizable limit for the card to benefit me. What do you think?

Don't be 100% sure on the TU pull. Sync pulled a fast one in Feb. when I applied, and pulled Ex... No problem though, it was very close to my TU score

Re: Score needed for Lowes?

mrcrisp023 — Sat, 09 Apr 2016 14:44:26 GMT

I'm in the same boat, I'm closing in 2 weeks and I plan to apply for Lowe's afterward. I've been told mostly TU, but a few have told me Ex. However, credit pulls shows the vast majority having their TU pulled. I would prefer my Ex being pulled, but im not counting on it. I suggest planning on having your TU pulled.

Re: Score needed for Lowes?

Appleman — Sat, 09 Apr 2016 14:49:27 GMT

During a recent app spree I got the Lowe's card with a $2,400 limit. Scores are great, lots of inquiries.

After using the card into the second cycle (charged $150 in split charges and paid off quickly) I used the on-line chat. Asked for a CLI and they wanted to know what limit I wanted. I said $25,000 and was approved immediately.

So, get the card, use it a little, pay it off and go big (they will counter if they do not approve you for the full request from what I read).

Good luck!

Re: Score needed for Lowes?

Anonymous — Sat, 09 Apr 2016 15:19:32 GMT

@Meanmchine wrote:
If your scores are good enough to close on a house, getting a Lowes should be a walk in the park

You should never make that assumption. There are plenty of people that are able to get mortgages and then are declined for credit cards, including store cards. Two different types of underwriting as a mortgage is credit with collateral (the home) while a credit card is not.

Re: Score needed for Lowes?

Anonymous — Sat, 09 Apr 2016 15:21:18 GMT

@Anonymous wrote:
Hey folks! I am closing on my first home (!!!) on Monday and would like to apply for a Lowe's card afterward. I hear they pull TU which is good because that one is my highest. As of yesterday my TU score was 701. Do you think that is good enough to get a descent limit from them? I would really like to take advantage of their long term financing offer to finance a deck so I would need a sizable limit for the card to benefit me. What do you think?

Your score is fine for Lowes. Your limit is going to be determined by your credit file and income so there is no way to know what amount you would get. They are however pretty lenient with CLOs after approval by calling Credit Soutions.

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 00:49:32 GMT

Lowes pulled EX for me too. Check your FICO mortgage vs FICO bank card and if the bank card scores are over 660, then odds are good. My mortgage scores are higher than my bank card scores, but I'm still shooting for 720-740 for when I apply for my mortgage in 2017....oh, and Congrats on the new house.

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 09:53:30 GMT

@Anonymous wrote:
Hey folks! I am closing on my first home (!!!) on Monday and would like to apply for a Lowe's card afterward. I hear they pull TU which is good because that one is my highest. As of yesterday my TU score was 701. Do you think that is good enough to get a descent limit from them? I would really like to take advantage of their long term financing offer to finance a deck so I would need a sizable limit for the card to benefit me. What do you think?

I'm in Georgia and Lowes definitely pulled TU. Got denied online with 660'ish. In store app went straight through for $1500. Called CS at 866-519-6441 a few days later after TU jumped over 690 and got it to $12K.

You will probably not get the Cl you are looking for on the initial app but with your score you should be very successful with the CS call. Look for the $12-15K range.

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 11:55:58 GMT

@appleman What was your TU score when you first applied and then when you asked for a CLI? When you say second cycle do you me the second billing statement?

Re: Score needed for Lowes?

RonM21 — Sun, 10 Apr 2016 14:36:35 GMT

@Appleman wrote:
During a recent app spree I got the Lowe's card with a $2,400 limit. Scores are great, lots of inquiries.
After using the card into the second cycle (charged $150 in split charges and paid off quickly) I used the on-line chat. Asked for a CLI and they wanted to know what limit I wanted. I said $25,000 and was approved immediately.

So, get the card, use it a little, pay it off and go big (they will counter if they do not approve you for the full request from what I read).

Good luck!

25K just like that! Wow.

Re: Score needed for Lowes?

Appleman — Sun, 10 Apr 2016 18:26:45 GMT

Initially application had a FICO 8 of 745ish when I got the $2,400.

Now sitting at 790 with TU and that did not hurt in getting the approval for the CLI. If I had not read about the other posters and their luck I would have not believed it.

I did use a personal loan to pay off my credit card debt and the scores really took off.

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 19:06:21 GMT

They pulled TU (665) for me yesterday. I got approved for $500. I have lots of inquiries and new accounts. Have a few late payments a little over a year old and BK from 2011. 22% utilization. I live in Oregon. Hope some of this helps.

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 19:16:59 GMT

@dgeary Did you call the Sync UW phone number yet and ask your $500 line get bumped to $5,000 yet? If not, get the phone with them today and ask. No rest for the Synchrony credit wicked.

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 19:17:53 GMT

745ish and 790. <== ME

Re: Score needed for Lowes?

cmony787 — Sun, 10 Apr 2016 21:08:24 GMT

+1 called sync today and went from $500 to $5k and this was after I tried online CLI and was denied based on usage of current CL.

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 21:33:12 GMT

@cmony787 NEVER use the love button. ALWAYS call Synch UW and FYI if they gave you what you asked CLI wise you undersold yourself.

ALWAYS ask for $15K-$25K and they will counter if they can approve you for any CLI amount.

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 21:47:45 GMT

@Anonymous wrote:
They pulled TU (665) for me yesterday. I got approved for $500. I have lots of inquiries and new accounts. Have a few late payments a little over a year old and BK from 2011. 22% utilization. I live in Oregon. Hope some of this helps.

Congrats. I started off at $500 myself and got it up to $15k. Hoping before year's end to maybe get it to $25k, but I need my score to rise over 700.

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 21:53:22 GMT

@kaykay65 What was your TU score when app'd and got $500 and then again when you went from $500 to $15K? How many months in between and was it $500 ==> $15K or a couple CLI in between?

Re: Score needed for Lowes?

Anonymous — Sun, 10 Apr 2016 23:13:03 GMT

@Anonymous wrote:
@Anonymous What was your TU score when app'd and got $500 and then again when you went from $500 to $15K? How many months in between and was it $500 ==> $15K or a couple CLI in between?

My scores were about 650-660ish when I applied. I'm from Texas and they pulled EX for me. Don't know if it has to do with the state or if it was just a random thing. I requested $3500 first, then either $5 or $6k (don't remember), then $10k, and then $15k all over the course of 3 months. Last time I ask for an increase, was turned down and no counter offer, so I figure I need to get over 700 before I receive consideration.