Lowes cli/ am I doing something wrong?

[Anonymous]

A while back I hit the online luv button for my Lowes consumer credit card and was denied due to lack of real estate loan and amount of time account has been open too recent. They had pulled a credit score of 629 from three months ago. Everyone on here suggested that i would have a much better chance of a cli by calling credit solutions. A month later from the previous cli request I called credit solutions over seas and asked for a limit of $8,000 (current limit $1,037). I was instantly denied without explanation or counter offer. Reasons for the denial are lack of real estate secured loan, average time since accounts opened too recent, not enough balance paid over time on installment accounts, and average time since revolving accounts opened is too recent. They pulled the same score. Currently my Fico 8 TU is 696 uti 27%. Not sure if im doing something wrong but I’ve decided to SD this card for a while even though I spend $200-$600+ each month.

[Anonymous]

I've heard of another poster being denied a CLI with a low CL due to lack of a mortgage on their CR, unless it was you posting a couple months ago.

Not sure what their criteria is,  but I'm not surprised that they wouldn't grant a higher limit if you don't own a home. Big spend is more likely. Of course you would have disclosed home ownership on the credit app, so they know it up front.

I tend to look at the reasons at face value. If they are true (the reasons listed), you might have to wait it out. Hitting the upper half of the limit consistently usually gets you a CLI, but they might want to see how your new accounts are handled first. Time shows behavior.  You might not have enough history yet for their liking. I'd wait it out and use the card as you have been. 5% back is nice while you wait. They may grant a CLI after 6 or more months of use.

[Poppa]

I had a $1237 limit for a year before they gave me a CLI. I tried every month at least. I asked for the max amount and got it, $35,000. I applied for the card 2 days after closing on my house.

[Anonymous]

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@Poppa wrote:

I had a $1237 limit for a year before they gave me a CLI. I tried every month at least. I asked for the max amount and got it, $35,000. I applied for the card 2 days after closing on my house.

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Do they really have CLs with odd dollar amounts? $1,237? Can you request 1,563.81 to cover an upcoming purchase? Lol. 

Well, if that worked for you,  it might work for OP too. Maybe or maybe not $35K, but a good increase could result.

My limit is 9200, the lowest of my cards. I requested a CLI and was denied. Never received the letter they promised that would explain the denial, so I really don't know why it was denied. 

[CreditInspired]

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@Anonymous wrote:
A while back I hit the online luv button for my Lowes consumer credit card and was denied due to lack of real estate loan and amount of time account has been open too recent. They had pulled a credit score of 629 from three months ago. Everyone on here suggested that i would have a much better chance of a cli by calling credit solutions. A month later from the previous cli request I called credit solutions over seas and asked for a limit of $8,000 (current limit $1,037). I was instantly denied without explanation or counter offer. Reasons for the denial are lack of real estate secured loan, average time since accounts opened too recent, not enough balance paid over time on installment accounts, and average time since revolving accounts opened is too recent. They pulled the same score. Currently my Fico 8 TU is 696 uti 27%. Not sure if im doing something wrong but I’ve decided to SD this card for a while even though I spend $200-$600+ each month.

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This is purely a guess. But I wonder if not owning a home, Lowes doesn't see a need for a higher CL since they're geared toward home improvement. Maybe the higher CLs are reserved for bigger spends like installing hardwood floors, renovating bathrooms, buying appliances--things that cost in the thousands. Again, this is just a thought and I would love others to chime in. 

I do believe, however, that if you SD your card, no CLI would be forthcoming. 

[CreditInspired]

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@Poppa wrote:

I had a $1237 limit for a year before they gave me a CLI. I tried every month at least. I asked for the max amount and got it, $35,000. I applied for the card 2 days after closing on my house.

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^^^this

[Anonymous]

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@CreditInspired wrote:

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@Anonymous wrote:
A while back I hit the online luv button for my Lowes consumer credit card and was denied due to lack of real estate loan and amount of time account has been open too recent. They had pulled a credit score of 629 from three months ago. Everyone on here suggested that i would have a much better chance of a cli by calling credit solutions. A month later from the previous cli request I called credit solutions over seas and asked for a limit of $8,000 (current limit $1,037). I was instantly denied without explanation or counter offer. Reasons for the denial are lack of real estate secured loan, average time since accounts opened too recent, not enough balance paid over time on installment accounts, and average time since revolving accounts opened is too recent. They pulled the same score. Currently my Fico 8 TU is 696 uti 27%. Not sure if im doing something wrong but I’ve decided to SD this card for a while even though I spend $200-$600+ each month.

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This is purely a guess. But I wonder if not owning a home, Lowes doesn't see a need for a higher CL since they're geared toward home improvement. Maybe the higher CLs are reserved for bigger spends like installing hardwood floors, renovating bathrooms, buying appliances--things that cost in the thousands. Again, this is just a thought and I would love others to chime in. 

I do believe, however, that if you SD your card, no CLI would be forthcoming. 

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I even wonder if they target higher CLs to those whose line of work is conducive to using a higher CL. For instance,  someone who works in construction with a high income would get the max CL, where a physician might get a smaller CL. Screening in a back porch is more likely to be a DIY for someone who is in construction than a physician who would pay a company to do it. Just a guess, but I believe CLs are determined by more than just income and paying on time every time. 

I don't do landscaping projects, I hire a lawn service, and never set foot in the lumber or masonry sections of Lowe's. My spend on the card is small, my highest spend in a month was about $300, and maybe they can determine I'm not a DIY and therefore I'll never see anything close to a 35K CL.

[CreditInspired]

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@Anonymous wrote:

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@CreditInspired wrote:

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@Anonymous wrote:
A while back I hit the online luv button for my Lowes consumer credit card and was denied due to lack of real estate loan and amount of time account has been open too recent. They had pulled a credit score of 629 from three months ago. Everyone on here suggested that i would have a much better chance of a cli by calling credit solutions. A month later from the previous cli request I called credit solutions over seas and asked for a limit of $8,000 (current limit $1,037). I was instantly denied without explanation or counter offer. Reasons for the denial are lack of real estate secured loan, average time since accounts opened too recent, not enough balance paid over time on installment accounts, and average time since revolving accounts opened is too recent. They pulled the same score. Currently my Fico 8 TU is 696 uti 27%. Not sure if im doing something wrong but I’ve decided to SD this card for a while even though I spend $200-$600+ each month.

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This is purely a guess. But I wonder if not owning a home, Lowes doesn't see a need for a higher CL since they're geared toward home improvement. Maybe the higher CLs are reserved for bigger spends like installing hardwood floors, renovating bathrooms, buying appliances--things that cost in the thousands. Again, this is just a thought and I would love others to chime in. 

I do believe, however, that if you SD your card, no CLI would be forthcoming. 

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I even wonder if they target higher CLs to those whose line of work is conducive to using a higher CL. For instance,  someone who works in construction with a high income would get the max CL, where a physician might get a smaller CL. Screening in a back porch is more likely to be a DIY for someone who is in construction than a physician who would pay a company to do it. Just a guess, but I believe CLs are determined by more than just income and paying on time every time. 

I don't do landscaping projects, I hire a lawn service, and never set foot in the lumber or masonry sections of Lowe's. My spend on the card is small, my highest spend in a month was about $300, and maybe they can determine I'm not a DIY and therefore I'll never see anything close to a 35K CL.

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That's a good observation. I never thought of that but it makes sense. Who knows what is in different CCCs algorithms and how they make decisions on CLs and CLIs.

[Anonymous]

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@Anonymous wrote:

... Not sure what their criteria is,  but I'm not surprised that they wouldn't grant a higher limit if you don't own a home ...

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I'm at 35K with no home and not much spend. Started at 2K. It took 4+ months to get there. 

When your scores improve so will your chances of a higher CL. It's truly that simple. 

[CreditInspired]

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@Anonymous wrote:

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@Anonymous wrote:

... Not sure what their criteria is,  but I'm not surprised that they wouldn't grant a higher limit if you don't own a home ...

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I'm at 35K with no home and not much spend. Started at 2K. It took 4+ months to get there. 

When your scores improve so will your chances of a higher CL. It's truly that simple. 

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Oh this is good to know. Thanks for sharing.