topic Re: Home improvement cards in Credit Cards

Home improvement cards

arizonahd — Mon, 14 Nov 2016 17:20:33 GMT

My wife and I are looking at putting tile throughout our 2050sqf home, it's going to be pricey!

We looked at HELOC loans, but I am not sure if our equity is quite there to qualify. I would actually like to pay this off over a peiord of 5 years at least, just so we have the flexibility. Kids are coming shortley after so that will add some more burden to our expenses. Wooo.

Does anyone know of any either low interest or 24month promo apr cars that would work for this? It's going to cost at least 12k-14k. Both our scores are in the 750-780 range. My only other option is to refinance my car, which I don't want to do.

Thanks!

Re: Home improvement cards

garagebandking — Mon, 14 Nov 2016 19:48:53 GMT

I just dropped 15k on Lowe's for HVAC. The promo is 60 months @ 5.99%...for 15k it is equal payments of $290/month.

Not sure when the promo ends but they have 36/60/96 month options...something like 3.99/5.99/7.99 respective interest rates.

Re: Home improvement cards

txtjjs — Tue, 15 Nov 2016 17:53:03 GMT

Home Depot has their project loans at a fixed 7.99%. They just wrapped up a 24month promo earlier this month, so I'm not sure how soon it'll be before another one comes around for them.

Re: Home improvement cards

arizonahd — Tue, 15 Nov 2016 19:48:53 GMT

That's amazing. Going to try calling Lowes then, I would totally do that.

Re: Home improvement cards

Anonymous — Tue, 15 Nov 2016 19:55:01 GMT

If you apply in store they will generally give you a higher credit limit!

Re: Home improvement cards

arizonahd — Tue, 15 Nov 2016 20:40:27 GMT

@Anonymous wrote:
If you apply in store they will generally give you a higher credit limit!

Ooo Snap! Going to wait then and do it in store. We are going to pay off a card this month or next, I have the cash just not sure when to pull the triggar. After that, I want to apply and hopefully they will give enough to cover the tile+grout.

Re: Home improvement cards

Anonymous — Wed, 16 Nov 2016 00:42:35 GMT

@arizonahd wrote:
@Anonymous wrote:
If you apply in store they will generally give you a higher credit limit!
Ooo Snap! Going to wait then and do it in store. We are going to pay off a card this month or next, I have the cash just not sure when to pull the triggar. After that, I want to apply and hopefully they will give enough to cover the tile+grout.

Let us know how it goes!!

Re: Home improvement cards

Anonymous — Wed, 16 Nov 2016 01:30:32 GMT

No need to go in store. I and many others here applied online and then called and got huge CLI. I was instantly approved for 2k I think, called 10 minutes later and requested 25k and instantly approved. It's very fast and no hassle. Good luck!

Re: Home improvement cards

Anonymous — Wed, 16 Nov 2016 01:39:08 GMT

@Anonymous wrote:
No need to go in store. I and many others here applied online and then called and got huge CLI. I was instantly approved for 2k I think, called 10 minutes later and requested 25k and instantly approved. It's very fast and no hassle. Good luck!

Maybe if you have the best of credit. But as many others have noted on here, it helps to have the in store rep on your team too, if you are going to make the purchase in the store anyway there is really no reason not too.

Re: Home improvement cards

Anonymous — Wed, 16 Nov 2016 01:59:42 GMT

He stated his scores were 750-780, mine are lower. So I don't see a problem

Re: Home improvement cards

Anonymous — Wed, 16 Nov 2016 02:11:04 GMT

@Anonymous wrote:

Maybe if you have the best of credit. But as many others have noted on here, it helps to have the in store rep on your team too, if you are going to make the purchase in the store anyway there is really no reason not too.

You don't need the best of credit. I had a 730 score and was approved for $3k and reconned it to $30k instantly with a phone call. I could have gotten $35k. The OP without question could get a $35k credit line with his scores that are greater than mine were by a good margin.

OP, another thing I'd suggest doing is scoring a 10% off Lowe's coupon either on ebay or at your local post office in their mover envelope. That could save you a solid $1400-$1500 on that tile project!

Re: Home improvement cards

pipeguy — Wed, 16 Nov 2016 04:27:58 GMT

I had a new roof put on my house by Lowes, just under $10k at 84 months (5.99%) paid it off in 3 years, but I had 84 months special financing. To me Lowes and HD special project financing is the ONLY reason to have those cards since both carry very high APR's otherwise (I think it's 26.99%). I current have $36500 CL on Lowes and $35k CL on HD which we plan to use a lot as we "refresh" our 30 year old home for to sell in a couple of years when I retire and move south.

Re: Home improvement cards

arizonahd — Wed, 16 Nov 2016 16:35:50 GMT

@Anonymous wrote:

OP, another thing I'd suggest doing is scoring a 10% off Lowe's coupon either on ebay or at your local post office in their mover envelope. That could save you a solid $1400-$1500 on that tile project!

I am going to keep an eye out for one of those coupons, especially since we are not in any hurry. I prefer Lowe's terms but their tile selection isn't as good as HD's, which is super annoying. I will be sure to update this thread with what we ended up doing. I just wish there was a 3-5 year loan with 5.99% that would work the same as one of those balance transfer checks From what I read, Lowes and HD both charge 2-3 times the rate for installation so I am not too interested in their services in that capacity, just the materials.

We still want to finance the install as well, so it makes it hard when these promos only apply to their respective retail stores.

Re: Home improvement cards

Anonymous — Wed, 16 Nov 2016 22:45:03 GMT

Have you looked at the Lowe's tile selection online? You may find styles on the web site that aren't found at your local store. Of course with tile it's always nice to see it in the flesh before making a big purchase, but you could always request a sample or order the smallest quantity first to get it in hand and see how it looks on your floor(s).

Re: Home improvement cards

pipeguy — Wed, 16 Nov 2016 23:52:21 GMT

@arizonahd wrote:
@Anonymous wrote:
OP, another thing I'd suggest doing is scoring a 10% off Lowe's coupon either on ebay or at your local post office in their mover envelope. That could save you a solid $1400-$1500 on that tile project!
I am going to keep an eye out for one of those coupons, especially since we are not in any hurry. I prefer Lowe's terms but their tile selection isn't as good as HD's, which is super annoying. I will be sure to update this thread with what we ended up doing. I just wish there was a 3-5 year loan with 5.99% that would work the same as one of those balance transfer checks From what I read, Lowes and HD both charge 2-3 times the rate for installation so I am not too interested in their services in that capacity, just the materials.

We still want to finance the install as well, so it makes it hard when these promos only apply to their respective retail stores.

In my case, at least for the roof replacement, the price was in line from what I got otherwise as far as quotes. Im not 100% sure, but I don't believe you have to use Lowes or HD to install as long as the major purchase meets the cost requirements.

Re: Home improvement cards

arizonahd — Thu, 17 Nov 2016 17:06:16 GMT

Thanks for the tips guys, going to go to both and try to to get this done!