topic Re: Lowes CLI question? in Credit Cards

Lowes CLI question?

Dw4250 — Mon, 14 Jul 2014 21:41:26 GMT

I currently have a $6000.00 limit on my Lowe's card.

My 4th statement will cut tomorrow, and I am thinking of asking for a CLI. So far I've used the card to get a new fridge and carpet the upstairs bedrooms and hallway. Total usage on the card the past 4 months is ~$5000. I took advantage of a 0% at 18 months offer to get the fridge and carpet, and current have $800 balance. I've been paying them back in big chunks every month. Scores are currently 710 EX, 719EQ, 702 TU. Total reported UTL is ~4%.

So my questions are:

a. Should I wait until the whole balance is paid off before asking for a CLI?

b. Is there a difference between the online luv button and calling Credit Solutions? Is one more likely than the other to get a large CLI?

c. I'd like to get a $10K+ CL...should I ask for $20K and hope they counter?

Re: Lowes CLI question?

Dw4250 — Mon, 14 Jul 2014 21:46:08 GMT

I should add I am only asking for a CLI for UTIL purposes, not because I need to buy something specific at Lowe's.

Re: Lowes CLI question?

Hightechredneck — Tue, 15 Jul 2014 00:25:07 GMT

I have had mine for about a year and a half. Always PIFed, but my limit stayed around 2500 or so. My wife and I bought Kitchen cabinets and installation in April to the tune of about $7000. I talked to the kitchen designer we were working with and told her that I did not have enough credit on my Lowes card to pay for a $7000 kitchen, she said don't worry they will extend you. Sure enough when we ent to check out, I spoke with a CS rep at GE and they bumped me to an $8k limit. Hope this helps

Re: Lowes CLI question?

leegreen — Tue, 15 Jul 2014 00:52:48 GMT

Had my lowes less than 4 months. Limit of 700 to start, I maxed it over the first two cycles and PIF, called CS and had it bumped to 5k. A month later on the 4th I spent 4200 then went home, called CS and has my CL bumped to 15k. I bet as long as your income supports it they will do 20k for you.

Re: Lowes CLI question?

spartantx117 — Tue, 15 Jul 2014 01:40:55 GMT

I started with a 3000 limit called and asked for 18000 right after. Was expecting a counter and received the full 18000 with a SP. My TU is about 740. Did the same with Home Depot (it was another HP) but got 20000 they are both good about it as long as your income and score supports it. Still haven't put anything on either card but getting ready to next month.

Re: Lowes CLI question?

hizzaah — Tue, 15 Jul 2014 01:57:37 GMT

Can I ask what kind of income you guys are working with for those limits?

Re: Lowes CLI question?

j_casteel — Tue, 15 Jul 2014 04:16:18 GMT

call Credit Solutions and ask for $25k they will counter if not approved.

Re: Lowes CLI question?

Tony275 — Tue, 15 Jul 2014 08:05:34 GMT

I'll always call CS when asking for a CLI on a GE/Synch card.

Was initially approved for $700 on my Lowe's card, called and asked for $10k, they gave me $6000 as a counter, I'll take it!!

Initially approved for $1100 on my Walmart store card, called and got it bumped to $5000 when asking for $10000.

Amazon store card is a different animal, had to utilize a larger amount of CL and pay before I could get any LUV from them. Went from $850 to $2100 after about 5 months of begging for a CLI, and it wasn't even initiated by me, it was auto LUV after a statement cut.

Always ask high and they'll counter offer if they won't give you the full amount!! And always a SP. There's members here that call every month until they get the desired result!

Re: Lowes CLI question?

Dw4250 — Tue, 15 Jul 2014 13:18:48 GMT

Thanks everyone for the advice and sharing their experiences. I will report back in a couple of days (my statement date is actually the 16th). Does anyone know if they pull a fresh report (SP) or just go off their last SP?

Re: Lowes CLI question?

emptypockets — Tue, 15 Jul 2014 15:35:26 GMT

I think they use a new SP, unless it was a recently approved card. You definitely get better CLI's from calling in. I only called in on Lowe's for the last CLI (to get to 20k). I wanted to spend 4-5k on a promo balance without maxing the card. I probably will never ask for another CLI from them, as 20k is more than enough for my needs.

Re: Lowes CLI question?

Creditaddict — Tue, 15 Jul 2014 15:39:01 GMT

@j_casteel wrote:
call Credit Solutions and ask for $25k they will counter if not approved.