topic Re: LOWES Prequalif Tool in Credit Card Applications

LOWES Prequalif Tool

NightTrader — Wed, 14 Jul 2021 21:31:31 GMT

Update: My friend and I received ID verification letter and we had to upload video of him and then take a picture of his license (front and back) and then call in with a verification code and then be transferred to the fraud department and twenty minutes later, he was approved for $800.00. A lot of work for $800.00 but at least he was approved and happy.

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My friend applied for LOWES credit card two month got qualified for $500.00 and tonight applied again prequalified with no amount and that got 7-10 day message. The person was trying to get higher credit limit and waited for score to improve more. The bank uses a phone link to verify identity but this person has an old phone so he could not click on link (flip phone that is dated). I wonder if this will be a denial or ID verification. We will have to see.

Starting to think the 5% ---they can just keep. Synchrony seems so messy these days.

Datapoints 660- 680, no bankruptcies, no collections, few late payments.

Re: LOWES Prequalif Tool

FinStar — Sun, 04 Jul 2021 05:47:30 GMT

It's likely an ID verification instance given that your friend couldn't authenticate the security link to load the application. You mentioned your friend doesn't have an updated phone device or smart phone, how did your friend run the pre-qualification last time?

Re: LOWES Prequalif Tool

NightTrader — Tue, 06 Jul 2021 09:53:39 GMT

@FinStar Update. You are right. It was an ID verification issue in the letter. A month ago the bank was using a number code sent to cell phones for verification (preapproval completed for $500)and now they have a link to click on sent to cellphone (the friend was not able to click on the link due to old phone and there was a button that allowed him to skip the phone verification part on the application). The letter did not provide the next steps to verify ID. I am going to advise my friend to wait a few weeks and go into the store with ID and app.

Re: LOWES Prequalif Tool

FinStar — Tue, 06 Jul 2021 14:34:32 GMT

Thanks for the update @NightTrader. These DPs can definitely help others when using the Lowe's pre-qualification tool.