topic Lowes (GEMB) card in Credit Cards

Lowes (GEMB) card

clocktick — Fri, 26 Nov 2010 22:55:53 GMT

Are there really any benefits for having this card? I got it to get the initial 10% off (saved $120!) and now I'm wondering, "What good is this card now?" It doesn't help that I received a low $1500 limit either.

Thank you.

Re: Lowes (GEMB) card

Creditaddict — Fri, 26 Nov 2010 23:14:50 GMT

the 12-18 month special financing is pretty nice... also lowes even though it's GE which I don't care for much either, they give large CLI on the lowes and sams it seems

Re: Lowes (GEMB) card

Anonymous — Fri, 26 Nov 2010 23:36:33 GMT

The card will grow with you. I know i've had mine for a year and increased from $400 to $1850 already. Just hit the luv button every 4 months.

Re: Lowes (GEMB) card

clocktick — Sat, 27 Nov 2010 00:05:56 GMT

It is a soft pull?

I had a Paypal (GEMB) card with a limit of $2000 and they CLD down to $100 so I closed it. Nothing crazy had hit my CRs. My last charge on it was about $1250 for car insurance so maybe that scared them although I've charged more than that and always PIF so who knows. This is why I wasn't crazy about Lowes being backed my them.

Re: Lowes (GEMB) card

Anonymous — Sat, 27 Nov 2010 00:25:37 GMT

Yes the CLIs are soft pulls. GEMB has been good to me so far.

Re: Lowes (GEMB) card

UpNUp — Sat, 27 Nov 2010 00:36:13 GMT

My husband loves my Lowes card. The 0% promos are great for major purchases and they are very generous with CLI's.

Re: Lowes (GEMB) card

larinoriani — Sat, 27 Nov 2010 02:18:37 GMT

@clocktick wrote:
Are there really any benefits for having this card? I got it to get the initial 10% off (saved $120!) and now I'm wondering, "What good is this card now?" It doesn't help that I received a low $1500 limit either.

Thank you.

Watch out those initial discounts offers, if you are not going to PIF on the first month, you will end up paying more on interests!

Re: Lowes (GEMB) card

Creditaddict — Sat, 27 Nov 2010 04:52:58 GMT

@larinoriani wrote:

@clocktick wrote:
Are there really any benefits for having this card? I got it to get the initial 10% off (saved $120!) and now I'm wondering, "What good is this card now?" It doesn't help that I received a low $1500 limit either.

Thank you.
Watch out those initial discounts offers, if you are not going to PIF on the first month, you will end up paying more on interests!

most of those discount offers include at least 12 months interest free

Re: Lowes (GEMB) card

ficonightmare — Sat, 27 Nov 2010 15:35:33 GMT

@clocktick wrote:
It is a soft pull?

I had a Paypal (GEMB) card with a limit of $2000 and they CLD down to $100 so I closed it. Nothing crazy had hit my CRs. My last charge on it was about $1250 for car insurance so maybe that scared them although I've charged more than that and always PIF so who knows. This is why I wasn't crazy about Lowes being backed my them.
Surprised to hear this. I got the card back in March and they also gave me a 2k limit. But in August, they raised it to 3k. Highest I ever charged on it was about $1,500 and paid it off in 2 billing cycles.
Did you ever find out why they cut it?

Re: Lowes (GEMB) card

clocktick — Sat, 27 Nov 2010 16:34:52 GMT

I never did find out why. I had them for years and started out with a $1500 (or $1200, can't remember) CL. They CLI me to $2000 where it was for over a year. I never carried a balance. At that time they approved me for another GEMB card for $500 so maybe that had something to do with it although that was months beforehand and my CRs got nothing but better. However, I did not find a $100 credit card even worth sock-drawering. That and the fact that they never sent me a new one after mine expired and then reported it lost/stolen which is still duplicated on my CRs.

Re: Lowes (GEMB) card

guydiver — Sun, 28 Nov 2010 17:27:13 GMT

Lowe's has been VERY good to me, as well as my other GEMB cards from Sam's. I got my Lowe's card 12/08 with a 6K limit and a hard on TU with a FICO in the upper 600's, and my first CLI(LUV button) took me to 10 K a year later without a hard pull. Coming up on two years with the account next month, and my initial hard inquiry will fall off of TU, leaving me with zero inquiries on TU and EX.

I do use my card often, both for 6-12-18 month no interest deals which I pay before they expire, and I do carry a balance every month on the non-promo stuff. They were the first card I got to 10K, and Sam's Discover(GEMB) just auto CLI 'd me to 10K. My FICO's are sub 700 at this time(TU,EQ), no baddies in five years, and bad stuff falling off my reports frequently. I'm waiting on my FICO quarterly monitoring TU next month to see where my score is, then I'm going to hit Lowe's up for a CLI after next months statement on the 21st(2 year anniv.) and see what happens. I have nothing but good to say about GEMB. They started me out with a Sam's store card when my scores were sub 600 four years ago, then offered me the Discover on my 1 year anniversary. I took it, got a decent initial CL of arount $3000. and just got the 10K CL after 35 months history. I still have the initial store card which I continue to get 6 mo. CLI's on also. I use my cards a lot, and have carried a balance for the last year or so. I usually make bi-weekly payments of well over the min. payment amount by 5X or 10X the amount due. YMMV.

Re: Lowes (GEMB) card

clocktick — Sun, 28 Nov 2010 18:01:06 GMT

You may have less baddies than I do or maybe they seem less major. $1500 is way too small of an amount versus what I spend there annually. I never carry a balance so perhaps they're more generous to people who make them money in that manner? It's great they give you high credit limits and I wish I would've gotten an initial high limit. I guess I'll have to wait and see. Right now it is my lowest CL card out of them all. I am glad they're good to at least some people!

Re: Lowes (GEMB) card

OnTheRebound — Sun, 28 Nov 2010 18:07:15 GMT

guydiver:

Please post back when when you hit the luv button again Just curious if you get another increase over 10K.

GEMB has been very generous with my wifes Lowes card. Opened on 6/2008. CL started at 2K. Then went to 4K then 5K. In March of this year I hit the luv button it doubled to 10K.

Last month, about 7 months after the last increase, I hit it again and was denied. Same this month, denied. I quess 10K is the the highest they will go with me.

By the way. We spend a lot there. Never carry a balace except on major 0% promos. Always pay well before the promo ends. And never paid one cent in interest.

Re: Lowes (GEMB) card

guydiver — Sun, 28 Nov 2010 20:11:12 GMT

Will do

Re: Lowes (GEMB) card

guydiver — Sun, 28 Nov 2010 20:26:50 GMT

Maybe someone with a larger than 10K CL will chime in and enlighten us??

Re: Lowes (GEMB) card

guydiver — Sun, 19 Dec 2010 12:50:45 GMT

Checked my TU report yesterday, and my Lowe's inquiry fell off this week. Now I have 0 inquiries on my TU, as well as EX. My scores are still not where I need them to be, TU Fico is now 678, but that's about where it has been for the past year. Still waiting for my Lowe's statement to drop, probably on Monday. I just hit them with several payments to get my util to 29%(I have two rather large 0% promos). Waiting for those payments to post and credit to my account, usually takes a few days before they clear my CU, then I'll take a shot at the Love Button. Not expecting anything though with 10K being the limit everyone has reported. Stay tuned......

Re: Lowes (GEMB) card

Anonymous — Sun, 19 Dec 2010 15:57:27 GMT

My Lowes had a $1,100 limit four years ago when I opened it. It dropped to $200 two years ago becase the CSR at Lowes said I hadn't used the card in a year. They reinstated me to $1,100 and it hasn't moved up since. I get a love button each time I log on but do not hit it because I don't need more credit from them. Mostly I use Home Depot which is much more generous.

Re: Lowes (GEMB) card

OnTheRebound — Sun, 19 Dec 2010 17:36:19 GMT

I hit the luv button for the third consecutive month. Denied each time. This after the last increase in March (5K to 10K).

Got the letter the other day.

"We are unable to assign you the credit line you requested because it exceeds the amount of increase our policy allows".

"Your credit line as of the date of this letter is $10000.00".

So it sounds like that's it for us. I feel our income is the reason. Never carry a balance except for 0% promos. Never paid any interest. We're both retired with an annual income of 41K. Our scores are virtually the same. No debt at all. No mortgage. No rent. No car loans.

Her:

Equifax- 707

Trans - 752

Me:

Equifax- 709

Trans - 754

Re: Lowes (GEMB) card

fused — Sun, 19 Dec 2010 17:46:58 GMT

@OnTheRebound wrote:

So it sounds like that's it for us. I feel our income is the reason. Never carry a balance except for 0% promos. Never paid any interest. We're both retired with an annual income of 41K. Our scores are virtually the same. No debt at all. No mortgage. No rent. No car loans.

Her:
Equifax- 707
Trans - 752

Me:
Equifax- 709
Trans - 754

Good for you folks!!!!! Life is a lot better without debt.

Re: Lowes (GEMB) card

BungalowMo — Mon, 20 Dec 2010 18:16:16 GMT

I have never gotten a CLI with the LUV button. I always had to call.

Tried the button a couple weeks ago...zip. Called them immediately to ask why....bada-bing...10k

Call the # on the card.