topic Re: Lowe's Advantage Card in Credit Cards

Lowe's Advantage Card

Tonya-E — Fri, 17 May 2019 01:42:12 GMT

Hi,

I wanted to see if anyone has heard of random card closures and limit decreases on the Lowe's Advantage card. I was recently approved for one. I had expected to use it to get new appliances for our kitchen using the 0% interest option. I then began reading some really bad reviews on credit karma about this card. I want to see if anyone here has had any negative experiences. I do not want a card that will randomly be of no use to me without notice.

Thanks,

Re: Lowe's Advantage Card

pizza1 — Fri, 17 May 2019 01:53:11 GMT

Card closures are never just random, there's always an underlying issue for the closure such as non-use, credit report changes for the worse, opening several new acts with them or in general in a very short period of time, and so on....

Synch backs the Lowes card, and they will close or CLD for non-use as the main reason. Ive had my Lowes for a few years, and just put $20-$100 on it every 4-6 months, and I'm fine. As long as it sees use, there's usually no problems, and also if you're not maxxing the card and paying minimums either.

Re: Lowe's Advantage Card

HighAchiever — Fri, 17 May 2019 01:53:48 GMT

Congrats on the recent approval! I hope that is not the case with this card, because I was looking to add it to my wallet eventually.

Re: Lowe's Advantage Card

K-in-Boston — Fri, 17 May 2019 01:55:58 GMT

Card closures and credit line decreases from Synchrony are rarely random. Almost all of them happen because of a number of new Synchrony accounts opened at once, usually by those with very marginal credit profiles.

I’ve had ZERO issues with mine, and I rarely use it these days except for 0% APR offers since I get the 10% veteran discount that doesn’t stack with the card’s discount. With your scores and the other cards in your list, you may want to ring up the overseas Credit Solutions line and ask for a credit line increase to $25-35,000 (or whatever you are comfortable with). They will counter-offer if they don’t give you what you ask for. Very minimal interaction and it’s only a soft credit inquiry. That way with a major purchase you won’t be maxed out. $35,000 is a very common credit line for those with very good to excellent scores.

Re: Lowe's Advantage Card

Tonya-E — Fri, 17 May 2019 02:24:41 GMT

Thanks K-in-Boston. That's exactly why I came up here. I wanted some solid input. I started reading those complaints and it freaked me out! I just don't want to do anything to jeopardize the work I have put into my credit by appearing maxed out on any card. I do have one other Synchrony card with Walmart. I only use it on occasion. I was thinking maybe that's why they approved me for a lower limit. I don't carry balances. I have been wondering lately if that is why some of my other cards have not increased my limit. I generally pay balances in full before the statements drop unless utilizing a 0% offer. I initially got the card thinking that I could stack with the 10% military discount and realized I could not do that when reading the fine print. That's ok with me though. I definitely have read that I should probably call up to increase my limit. I will try to do that. There are quite a few upgrades I want/need to do to our home so I thought it wouldn't be a bad idea to have this particular card.

Re: Lowe's Advantage Card

Tonya-E — Fri, 17 May 2019 02:26:35 GMT

Thanks High Achiever I was hoping it was false too! I really wanted to utilize the card for upgrades.

Re: Lowe's Advantage Card

K-in-Boston — Fri, 17 May 2019 02:40:26 GMT

I wouldn't consider that to be a low starting line at all. I just looked at my approval email from a few years ago and it doesn't state the original credit line, but I want to say that it was somewhere between $4-6,000 on the screen when I applied. I called within minutes after being approved and asked for $25,000 and they counter-offered $17,000. A few months later, I asked for $35k and they gave me $25k. A little while after that, I asked for $35k and they gave it to me. I made a few attempts after, but got the our policy doesn't allow for a higher line letter.

Re: Lowe's Advantage Card

Tonya-E — Fri, 17 May 2019 02:41:36 GMT

This is good info to have pizza1! I will make sure to make some transaction to keep use on the card.

Re: Lowe's Advantage Card

Tonya-E — Fri, 17 May 2019 02:43:23 GMT

Gotcha! It still wouldn't hurt to have a little more wiggle room for larger purchases. I am going to give it a shot.

Re: Lowe's Advantage Card

Shooting-For-800 — Fri, 17 May 2019 10:53:20 GMT

I love my card.

I use 0% all the time.

Easy to use website.

Easy to track 0% purchases.

Insane credit limit ($35k).

Highly recommend.

GL!

Re: Lowe's Advantage Card

Anonymous — Fri, 17 May 2019 12:41:29 GMT

@Tonya-E wrote:
Hi,

I wanted to see if anyone has heard of random card closures and limit decreases on the Lowe's Advantage card. I was recently approved for one. I had expected to use it to get new appliances for our kitchen using the 0% interest option. I then began reading some really bad reviews on credit karma about this card. I want to see if anyone here has had any negative experiences. I do not want a card that will randomly be of no use to me without notice.

Thanks,

I got the card about 2.5 years ago. it sits at a $20k limit. doubt i need more than that, so dont ask for any more cli on it, but i DO use it during the summer for plants, or for the odd home repair item, etc. will use it for appliances probably when needed as well. i have not had any synchrony issues with any of their cards. i use all the ones i have periodically. IMO as long as you use it, and do not pay the minimum payment, you will likely be fine. Comenity and synchrony are names around here that some people cringe when they hear them, but i have had no problems with either of them. i just use them like any other card and pay in full, or way above the minimum payment and this seems to work ok at least for me. Congrats on your approval, too!!

Re: Lowe's Advantage Card

Tonya-E — Fri, 17 May 2019 13:23:07 GMT

Thanks Camaro! I have noticed the disdain for Synchrony & Comenity. It's not just up here though. I am glad this forum exists so that I can get a full glimpse and not just have the horror stories to go by. I see from the comments I have received to use it at least periodically and keep it active. I will most definitely pay on time and more than the min. due. I do feel like I can actually use it now with less worry.

Re: Lowe's Advantage Card

Anonymous — Fri, 17 May 2019 13:28:51 GMT

in fairness, as we all know since we are all human, most of the horror stories are simply because some kind of AA has occurred that one feels is unfair. 99% of the time, its not without reason, probably 100% of the time, each bank has its querks, just as all of us consumers do. like i said, i have had no issues (other than one with comenity that i DID deserve early on in my build..'too many SCT cards at once' and i learned my lesson, but not banks fault) with either bank. just use like you said, PIF, or pay most and go about your business just like any other card. This i can say, will probably keep you golden, unless something unforseen in your profile/life occurs. Good luck OP and congrats again!!

Re: Lowe's Advantage Card

CramEiko — Fri, 17 May 2019 16:14:19 GMT

@pizza1 wrote:
Card closures are never just random, there's always an underlying issue for the closure such as non-use, credit report changes for the worse, opening several new acts with them or in general in a very short period of time, and so on....

Synch backs the Lowes card, and they will close or CLD for non-use as the main reason. Ive had my Lowes for a few years, and just put $20-$100 on it every 4-6 months, and I'm fine. As long as it sees use, there's usually no problems, and also if you're not maxxing the card and paying minimums either.

I do the same thing. No problems here either. It is nice having a $35k CL posting in good standing. It helped negotiate stronger CL's on the other cards that I use more frequently.

Good Luck!

Re: Lowe's Advantage Card

GSP_1 — Fri, 17 May 2019 18:10:53 GMT

@Tonya-E and @K-in Boston Thank you for your service!

I love my Lowes card. I use it for the 0% promotional items with no issues from Synch.

Re: Lowe's Advantage Card

Tonya-E — Fri, 17 May 2019 18:15:26 GMT

Thanks GSP! I hope to get to love it too!!!

I can't take credit for the service though. My husband has that honor. I appreciate it!