Home Depot vs. Lowes

[CreditUnionFan]

Nah, Nixon, sometimes you want to:

a. stay under the radar. If there's no income verification below a set limit, for ease of approval, one might stay at that limit.

b. stay within "acceptable" limits of unsecured credit. At some points a borrower may run up against a limit that issuers are willing to lend, both internally, as well as with other lenders. Synchrony may have limits, and so after a while one may need to choose wisely. Some lenders pay extra attention to the limits a borrower has elsewhere and may decide it is above their risk tolerance.

Lenders may use a financial calculation of salary versus available credit, and at a certain point will not extend further credit.

[Anonymous]

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@CreditUnionFan wrote:

Nah, Nixon, sometimes you want to:

a. stay under the radar. If there's no income verification below a set limit, for ease of approval, one might stay at that limit.

b. stay within "acceptable" limits of unsecured credit. At some points a borrower may run up against a limit that issuers are willing to lend, both internally, as well as with other lenders. Synchrony may have limits, and so after a while one may need to choose wisely. Some lenders pay extra attention to the limits a borrower has elsewhere and may decide it is above their risk tolerance.

Lenders may use a financial calculation of salary versus available credit, and at a certain point will not extend further credit.

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Synchrony does in fact have internal limits. I believe Finstar mentioned this.

[FinStar]

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@Anonymous wrote:

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@CreditUnionFan wrote:

Nah, Nixon, sometimes you want to:

a. stay under the radar. If there's no income verification below a set limit, for ease of approval, one might stay at that limit.

b. stay within "acceptable" limits of unsecured credit. At some points a borrower may run up against a limit that issuers are willing to lend, both internally, as well as with other lenders. Synchrony may have limits, and so after a while one may need to choose wisely. Some lenders pay extra attention to the limits a borrower has elsewhere and may decide it is above their risk tolerance.

Lenders may use a financial calculation of salary versus available credit, and at a certain point will not extend further credit.

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Synchrony does in fact have internal limits. I believe Finstar mentioned this.

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Yep, they sure do.  Across most consumer private label accounts $100K (combined) is the maximum (give or take since there are exceptions).  When you reach a specific threshold (> $80K) they may opt to reduce other lines to approve the new account depending on total SYNCB exposure, DTI, income/assets, CR quality, lender mix, etc.  Some consumer cards' CLs can range from $25K-$50K (within single maximum exposure), but it depends on the private label portfolio (i.e. PayPal/eBay, TJX, Walmart/Sams, Lowes, Amazon, etc).

[JustinS]

Have both myself. For me if memory serves both gave me between 1k-2k initial CL. Lowes I was able to have bumped right to the $25k as others have and HD (Citi) I called into them and asked for $15k and they gave $16500 so I have the feeling I inadvertently left some "money on the table" so to speak with it. Having said this Citi also bumped my double cash from 2500 to 10k right away as well.

[wagsk1]

Lowes. Higher limits, easier cli`s and approvals plus they run those 18month 0% deals about every other month.

[Strogen]

Just got the Lowes card today, $1500 CL. Tried live chatting and the guy was like no, you already got the max amount when you applied. 

What do? lol 

[Anonymous]

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@Strogen wrote:

Just got the Lowes card today, $1500 CL. Tried live chatting and the guy was like no, you already got the max amount when you applied. 

What do? lol 

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Try again with a different person

[seflowers]

I got Home Depot a year ago, got 800 limit, didn't know enough about credit to even ask for a higher limit, a year later still no auto cli, so took a HP for increase to 4900. Would much rather have Lowe's and their sp Clis

[Strogen]

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@Anonymous wrote:

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@Strogen wrote:

Just got the Lowes card today, $1500 CL. Tried live chatting and the guy was like no, you already got the max amount when you applied. 

What do? lol 

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Try again with a different person

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Wow, you were right. I asked for 25k and received 17K !!!!! 

Crazy! my next highest limit is my Ritz at 10K and BoA cash rewards at 10K. 

Didnt think SyncB would be the ones to break 10K ! LOL

Thanks dude! 

[Anonymous]

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@Strogen wrote:

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@Anonymous wrote:

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@Strogen wrote:

Just got the Lowes card today, $1500 CL. Tried live chatting and the guy was like no, you already got the max amount when you applied. 

What do? lol 

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Try again with a different person

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Wow, you were right. I asked for 25k and received 17K !!!!! 

Crazy! my next highest limit is my Ritz at 10K and BoA cash rewards at 10K. 

Didnt think SyncB would be the ones to break 10K ! LOL

Thanks dude! 

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You're very welcome and congrats!  Nice CL.  Now go buy some 2X4s 😀