topic Re: Lowes CLI in Credit Cards

Lowes CLI

NeedinHelp42 — Tue, 27 Sep 2011 16:55:44 GMT

I just received my 4th statement for my Lowes GEMB card. The initial credit limit was a low $450. I got the card to purchase a lawnmower this spring, and it came with 0% interest for six months. It has about a $100 balance on it, which I was just letting ride through next month when I'll pay it off before the interest kicks in. Given what I've read here, the 4th statement seems like the agreed upon time to request a credit limit and so I went ahead and did that this morning. Instantly was denied. A little confused, since I've got under 50% utility and credit scores in the 660-670 range. I figured I'd be pretty golden to keep punching up that limit. No pressing need, just sort of playing the rebuilding game.

Full disclosure, that initial purchase is the only one I've made on this card. Is it likely GEMB just want to see a little action before they're willing to let me grow?

Re: Lowes CLI

Anonymous — Tue, 27 Sep 2011 16:59:33 GMT

Sorry to hear. I don't have a LOWES acct, but I do have GEMB, and the last time I asked for a CLI I was instantly denied, then the next day I logged onto my account, it showed an increased of $1500 bringing my card to $3,000.00.......you might just wait and see what happens, or give them a call and ask for a reconsideration.

Re: Lowes CLI

iwantbettercredit — Tue, 27 Sep 2011 20:53:27 GMT

Your payment history needs to be perfect and they will only give an increase every 4-6 months. Thats been my experience. If you apply every 4 months with a good payment records you will have no problem and they will be generous to you, I do think a new account has to be established for one year before they start giving increases.

Re: Lowes CLI

nuggets321 — Tue, 27 Sep 2011 21:48:42 GMT

I dont know about Lowe's but my GEMB Walmart card gave an auto CLI from 600 to 800 after the 2nd statement , so Im not sure that 1 year satement is entirely accurate?

Re: Lowes CLI

Elated — Sun, 02 Oct 2011 15:49:55 GMT

Sorry to hear that also. I also have a Lowe's CC that I have had since 2006, and my initial credit limit was $500. In 2009, my previous home went into foreclosure, and low and behold they dropped my CL to $100.

To this day, I have not received any CLI's, but have attempted to get them to increase my CL to no avail. I have other GEMB cards such as: Walmart, Macy's, and J C Penney that all have 0 balances, but have decent credit limits. However, J C Penney did the same thing to me as I was going through my foreclosure. I had a $1500 CL with them, and they dropped to $336, which was my balance on that particular CC at that point in time.

I am actually in the process of building and purchasing my new dream home with all of the bells and whistles...it will be completed in January, so my credit isn't too bad. When they pulled it with the builder back in June, it was 631.

Sorry, I got off on a tangent...anyway, I always believe that time heals all wounds. If I were in your shoes, I would wait another 6-7 months to request another CLI.

Good luck!!

Re: Lowes CLI

thom02099 — Sun, 02 Oct 2011 16:05:34 GMT

Rather than apply on line for a CLI, I simply called them, spoke with a CSR. Told them what I wanted to do (home improvement projecct) and asked them to double CL, from $3000 to $6000. No hard pull, only a soft pull. I also mentioned that one of their competitors had been very generous in granting me a CLI (Home Depot) and that I expected Lowes to be equally generous. They were! Granted the increase I requested. Scores were in the low 700s at the time (703/713), with perfect payment hx, no adverse entries.

Re: Lowes CLI

Anonymous — Sun, 02 Oct 2011 16:27:40 GMT

I've had my GEMB Paypal Smart Connect for almost a year, initial CL of 500, requested a CLI about 6 months after opening the card (used it pretty heavy at first, PIF every month) and they gave me a CLI of 125, now @ 625.

IMO GEMB does not like me for some reason, I mean I have CL's from 16,000, 10,000, 6,000 etc.... on other cards, 1% util EVERY month, perfect reports 7 years AAoA's few inq's on each report, not to mention extremely high Fico's.

Just about two weeks ago I requested an increase, instant decline, received a letter a week later stating "You do not have enough experience with your current credit limit" REALLY?????

Anyway, I'm not very fond of GEMB!

However, Congratulations to those of you who have gotten CLI's, glad to see someone's getting CLI's from GEMB.

Re: Lowes CLI

tray — Sun, 02 Oct 2011 19:33:15 GMT

I recently opened a Lowe's cc account in May, last month tried for a cli as I recieved 1 paper statement and 3 were on line statements I thought l was in the clear because I believed I had 4 statements, well it was a denial. So this month I tried again now having 4 on line statments showing hit the luv button and to my surprise given $ 3,000.00 cli. So waiting 6 months is not necessarily true and I am wondering if having on-line statements with a balance helps??

Re: Lowes CLI

clocktick — Mon, 03 Oct 2011 05:03:37 GMT

My Lowes account started (if I remember correctly) at $1500. I tried for a CLI and was instantly denied because of lack of usage. I used it and paid if off, tried again a couple months later and went up to $3000. I used it more and tried again about 3 months later and now it's up to $8000. I never had "luck" with GEMB in the past and on my old Paypal card they even CLD me to $100 so I closed the card. All I know is they like to see usage (they sited this with my first denial) and that the CLIs were SPs for me.