topic Re: Lowe's in Credit Cards

Lowe's

Anonymous — Sat, 19 Jul 2008 16:28:51 GMT

Anyone have difficulty with Lowe's? I got a card in 6/04 and at the time we had moved into a house and had applied for a bit of credit to help with the move and renovations, etc. I was only approved for a measly 200.00. Then something weird happened when I paid off Lowe's and Target and my credit lines were dropped. Target went fro 1500.00 to 500.00 and Lowe's went from 200.00 to 180.00. Since that time Target increased my credit line to 5000.00, but Lowe's has forever stayed the same. I have rarely used it, and used in December because I figured I needed to use it occasionally. I went today to get a CLI and was denied faster than they could have possibly even pulled a credit report. My scores are sitting at 620-636 between the 3, TU, EQ and EXP. I know that isn't the best and the only thing really hurting me at this point is my high balances on some of my other cards, but after 4 years being a customer and never paying late, etc. just not sure what the deal is with them.

Juli

Re: Lowe's

Eric958 — Sat, 19 Jul 2008 18:17:11 GMT

I'm thinking you may want to close the acct and then reapply. If they don't approve you or give you a better CL the second time around then you will have to ask yourself do they deserve you as a customer.Sometimes in life we have to take a stand!

E!

Message Edited by Eric958 on 07-19-2008 11:17 AM

Re: Lowe's

Anonymous — Sat, 19 Jul 2008 19:11:01 GMT

do not close and reapply.. you would be loosing all of that history and age. IMO, call them and THREATEN to close. Look for a backdoor number

Re: Lowe's

NikJ4 — Sat, 19 Jul 2008 20:33:50 GMT

I think they got mad at me also, I am an AU on my mom's Lowes acct. Just got acct 2 months ago and only put 31 dollars on it. They moved the credit limit down from $500 to $140. No changes in her credit . They are really funny acting. I am hoping after 6 months they will be kind and increase.

Re: Lowe's

mrlimo — Sat, 19 Jul 2008 23:49:08 GMT

I never have had a problem with them. When I apped for there 6 months same as cash deal on a new dish washer they approved me for a high cl, that was about 1.5 years ago. Although I have never seen any cli from them. I took the dish washer final price divided it by 6 and that is what I paid each month till it was paid off. I just recently bought $10.00 is stuff on it to keep active besides that it already served its purpose...

Re: Lowe's

Eric958 — Sun, 20 Jul 2008 00:37:06 GMT

You will NOT lose any history. This tl should report for 7- 10 years.All I'm getting at is if I were an UW and you were asking me to approve you for an acct with me I would be wondering why a major creditor like Lowes would give you such a measly cl after 4 years of you being a decent customer! what is it that lowes knows about you that I may need to know! I don't know how many accts you have and for how long so I don't know what the impact of you closing an acct would be. I do know you could give your valuable business to Home depot or another company that carries similar products. Don't be a SLAVE to a fico score. YOU are more then a score and you deserve the best of everything!

E!

Message Edited by Eric958 on 07-19-2008 05:37 PM

Re: Lowe's

Schoolbuskid — Sun, 20 Jul 2008 01:54:55 GMT

They declined me for problem with telephone! I guess we've had the phone for about 2-3 yrs~

Re: Lowe's

Anonymous — Sun, 20 Jul 2008 03:52:20 GMT

Don't hold your breath. I have had mine for 4 years and no such luck.

Juli

Re: Lowe's

haulingthescoreup — Sun, 20 Jul 2008 12:53:51 GMT

The wonderful world of GEMB cards.

From what I've read here about Lowe's cards, if you initially apply with really good credit and reasonably high scores, you'll get a high CL. If you first apply with shakier credit and lower scores, you're more likely to get a low CL and little luck in getting it to significantly increase.

OP, when your scores get up around the 700 level, if GEMB hasn't shown you some love, you might go get a Home Depot card, go to the service desk at Lowe's, and ask if they can help you get a decent CLI on the Lowe's card. But I have the feeling that the people in the stores have little ability to get through to the people at GEMB.

This sort of thing is why I got an HD card instead, even though I prefer Lowe's in some ways. Whenever I shop there, and they ask if I'd like to open a Lowe's account, I wistfully tell them that I will, if they ever get a decent bank behind their card. Just a little consumer feed-back. FWIW, they usually sigh and say that they wish Lowe's would change banks, too, so it's not as if this is news to them.

Re: Lowe's

Anonymous — Sun, 20 Jul 2008 17:17:24 GMT

Thanks I do have a Home Depot with a 2100.00 limit. Now when I do get my scores up higher I will try again. I will explain to them that I have spent 8-10,000 dollars at Home Depot over the years that I have spent total maybe 500.00 at Lowe's due to their piddly CL.

Juli

Re: Lowe's

App_Addict — Sun, 20 Jul 2008 18:26:04 GMT

I would let them know that you will switch over to Home Depot if they don't reward your loyalty with a better credit line. Home Depot seems to be much more generous when it comes to CL'S and CLI'S.

Re: Lowe's

Anonymous — Sun, 20 Jul 2008 18:35:55 GMT

wow tht sucks but maybe u shld sock draw the card or if u use it PIF anddont worry about it they need you! and from what i know when u close a card with long history it can possibly effect yr fico score !IT will dont know for better or worse only bc tht account would not be considered an open line of credit so you know something will give you an alert! be careful and be wise!!! I say just get another card and quit whining its 08' and basically after the year you probally should have closed it then sorry! GL