topic Re: App for Macy's or Lowe's today? Which one? in Credit Cards

App for Macy's or Lowe's today? Which one?

awdsmama — Sun, 17 Feb 2013 17:10:50 GMT

Okay, I got approved for the Discover IT yesterday and my Visa app thru my CU is pending (I got the alert they already pulled EX)

I want to app for one more card today to hopefully get me to 3 (if of course CU approves-worst case there I can default to their secured card though).

Macy's or Lowe's?

I want Macy's because I love their sales, and like the idea it could graduate to an Amex.

I like Lowe's because of the generous CLI's I hear about and it would be a nice card to have when I buy a house.

I guess Wal Mart could be an option as well to get their free FICO perk. But I did app for them in early December and was denied my ficos then were 601 and 615 I think. They pulled EX and it is a much cleaner report now (no CAs now) but still not "perfect".

Advice on either card?

Re: App for Macy's or Lowe's today? Which one?

daybreakgonesXe — Sun, 17 Feb 2013 17:15:22 GMT

@awdsmama wrote:
Okay, I got approved for the Discover IT yesterday and my Visa app thru my CU is pending (I got the alert they already pulled EX)

I want to app for one more card today to hopefully get me to 3 (if of course CU approves-worst case there I can default to their secured card though).

Macy's or Lowe's?

I want Macy's because I love their sales, and like the idea it could graduate to an Amex.

I like Lowe's because of the generous CLI's I hear about and it would be a nice card to have when I buy a house.

I guess Wal Mart could be an option as well to get their free FICO perk. But I did app for them in early December and was denied my ficos then were 601 and 615 I think. They pulled EX and it is a much cleaner report now (no CAs now) but still not "perfect".

Advice on either card?

I would look at it this way: in the long term, where are you going to do most of your shopping? You want a card that you feel you can use for a long time. Also, I highly recommend applying in store, if possible. Or, if they offer a discount online for online account opening, and you've been itching to shop at one of the particular stores, do it that way! What's the point in opening a retail card just for "fun" and missing out on your discount!

Then again, I don't want to pressure you into running to Macy's or Lowe's today and going on a moderate shopping spree It's just better to plan retail card apps that offer discounts at account opening when you know you're going to make a decent-sized purchase

Re: App for Macy's or Lowe's today? Which one?

awdsmama — Sun, 17 Feb 2013 17:18:20 GMT

Welll originally I was going to get the Lowe's because when I buy a house I thought it would be good to have if a hot water heater or washer/dryer went out etc. But um, I also wasn't expecting my Discover limit to be 4,000 so I don't think that part is a huge factor now.

And yeah, I was going to do the app in store today, esp if Macy's-- it is their Presidents Day Weekend sale after all hahaha!

Hmmm.

Re: App for Macy's or Lowe's today? Which one?

daybreakgonesXe — Sun, 17 Feb 2013 17:26:33 GMT

@awdsmama wrote:
Welll originally I was going to get the Lowe's because when I buy a house I thought it would be good to have if a hot water heater or washer/dryer went out etc. But um, I also wasn't expecting my Discover limit to be 4,000 so I don't think that part is a huge factor now.

And yeah, I was going to do the app in store today, esp if Macy's-- it is their Presidents Day Weekend sale after all hahaha!
Hmmm.

Hmm...in this situation, I say go for the Macy's now. The hot water heater and washer/dryer going out is a good time down the road, and who knows! You may wind up getting a house with newly (or recently) installed appliances! I bet you'll have a great credit history by the time something like that poops out, and if and when it does happen, you can open the Lowe's account then and get the great financing offers at account opening Besides, if you apply for Lowe's now, the card won't have much activity until you need that big purchase. Macy's will wind up being a more active card in your wallet that will work for you!

Good luck with the app, and happy discounts upon discounts shopping!

Re: App for Macy's or Lowe's today? Which one?

awdsmama — Sun, 17 Feb 2013 17:32:21 GMT

Good point DayBreak...ugh I hate app'ing in store though, denial on the computer is so much easier to swallow. But I will do it ;-)

Re: App for Macy's or Lowe's today? Which one?

LS2982 — Sun, 17 Feb 2013 17:34:56 GMT

Go for lowes. Cant beat the CLI's plus your getting history in with GE they will take very good care of you!

Re: App for Macy's or Lowe's today? Which one?

mnavas — Sun, 17 Feb 2013 17:35:16 GMT

Macys will approve you in the low 600s... for their store account and 700+ for their Amex. (They pull Experian) Its a great store card, you get magazines and coupons in the mail frequently (although some ppl dont like the fact you cant use the coupons for all merchandise ) Another good thing about Macys is that they pretty generous with the CLI...I cannot tell you anything about the Lowe's store card, the only thing i know is they're backed by GE (they're very known to pull Transition) and they're also generous with the CLI . I cant say what's the best card (it depends on your needs) but you should only apply for the cards you're going to use soon..

Re: App for Macy's or Lowe's today? Which one?

LS2982 — Sun, 17 Feb 2013 17:38:07 GMT

The great thing about GE is you dont have to spend a lot to get good CLI's. Make a charge or two and PIF request a CLI every 4 months.

Re: App for Macy's or Lowe's today? Which one?

awdsmama — Sun, 17 Feb 2013 17:41:34 GMT

@LS2982 wrote:
The great thing about GE is you dont have to spend a lot to get good CLI's. Make a charge or two and PIF request a CLI every 4 months.

True.

But, what if I app for the Lowe's and get the 0 apr for xx mos but don't need it for bigger purchases? I'm not going to get that 0% again when I need it right? Sooo maybe that is a reason to wait on that, then when I need the new washer/dryer etc I can app and utilize the 0%.

Although YES I do agree their CLIs are great!!!

Re: App for Macy's or Lowe's today? Which one?

LS2982 — Sun, 17 Feb 2013 17:45:30 GMT

Those promos are always available. Its either 5% off whole purchase or promo financing you get to pick.

Re: App for Macy's or Lowe's today? Which one?

awdsmama — Sun, 17 Feb 2013 17:46:18 GMT

@LS2982 wrote:
Those promos are always available. Its either 5% off whole purchase or promo financing you get to pick.

See this is why I love these boards. I did not realize that. I thought it was just when you opened the card.

Re: App for Macy's or Lowe's today? Which one?

LS2982 — Sun, 17 Feb 2013 17:49:59 GMT

Nope. I forgot to mention the promo financing goes by tiers on how you spend on the purchase determines the length of promo finance.

Ex. You get 18 months deferred interest for purchases $499 and above.

They are always running some kind of deal like that.

Re: App for Macy's or Lowe's today? Which one?

awdsmama — Sun, 17 Feb 2013 17:53:27 GMT

@LS2982 wrote:
Nope. I forgot to mention the promo financing goes by tiers on how you spend on the purchase determines the length of promo finance.

Ex. You get 18 months deferred interest for purchases $499 and above.

They are always running some kind of deal like that.

Good to know, thanks. I think I'll be going with Lowe's hoping for a good opening limit and like you said the CL increases quickly.

We shall see what happens. App'ing in store later today...

Re: App for Macy's or Lowe's today? Which one?

Anonymous — Sun, 17 Feb 2013 17:55:29 GMT

Good luck! Let us know how it works out! :-)

Re: App for Macy's or Lowe's today? Which one?

daybreakgonesXe — Sun, 17 Feb 2013 17:58:04 GMT

@awdsmama wrote:
@LS2982 wrote:
Nope. I forgot to mention the promo financing goes by tiers on how you spend on the purchase determines the length of promo finance.

Ex. You get 18 months deferred interest for purchases $499 and above.

They are always running some kind of deal like that.

Good to know, thanks. I think I'll be going with Lowe's hoping for a good opening limit and like you said the CL increases quickly.

We shall see what happens. App'ing in store later today...

Good luck with whatever store you decide to app for! And hey, it's actually not as scary apping in store than it seems. It's actually a lot better because we CSRs have a direct line to the credit company. We typically use the number to call in when GE needs additional security information, but it's also helpful and a lot quicker to transfer to someone from recon. Even better yet? If you do get approved through recon, then they can pull up your account information right there, as opposed to reconning from home and ho-humming until the card comes in! Score!

Though I will admit, I guess it is slightly embarrassing when a decline happens in front of an associate as opposed to sitting behind a computer.

Re: App for Macy's or Lowe's today? Which one?

awdsmama — Sun, 17 Feb 2013 17:59:33 GMT

@daybreakgonesXe wrote:
@awdsmama wrote:
@LS2982 wrote:
Nope. I forgot to mention the promo financing goes by tiers on how you spend on the purchase determines the length of promo finance.

Ex. You get 18 months deferred interest for purchases $499 and above.

They are always running some kind of deal like that.

Good to know, thanks. I think I'll be going with Lowe's hoping for a good opening limit and like you said the CL increases quickly.

We shall see what happens. App'ing in store later today...
Good luck with whatever store you decide to app for! And hey, it's actually not as scary apping in store than it seems. It's actually a lot better because we CSRs have a direct line to the credit company. We typically use the number to call in when GE needs additional security information, but it's also helpful and a lot quicker to transfer to someone from recon. Even better yet? If you do get approved through recon, then they can pull up your account information right there, as opposed to reconning from home and ho-humming until the card comes in! Score!

Though I will admit, I guess it is slightly embarrassing when a decline happens in front of an associate as opposed to sitting behind a computer.

Thanks for the pep talk :-)

Re: App for Macy's or Lowe's today? Which one?

awdsmama — Sun, 17 Feb 2013 22:56:10 GMT

GE hates me. Denied for Lowe's. Well technically got the 7-10 notice but whatever. I asked the lady for the phone number to call and she called from the customer service center and the rep said it had been denied and that's all he knew and I'd get a letter.

Whatever.

Re: App for Macy's or Lowe's today? Which one?

LS2982 — Sun, 17 Feb 2013 23:03:41 GMT

Wow, very sorry to hear I was looking forward to seeing a big CL from them for you. Call this # 1800-444-1408 ask to speak to an underwriter about it.

Re: App for Macy's or Lowe's today? Which one?

awdsmama — Sun, 17 Feb 2013 23:05:19 GMT

Hmmm the # the rep gave me was 800-444-0430 do they go to different places?

Re: App for Macy's or Lowe's today? Which one?

LS2982 — Sun, 17 Feb 2013 23:08:21 GMT

That one is lowes customer service. Ask for a credit analyst.