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I opened a lowes card about a month ago and bought a lawn mower which about maxed it. I paid a little over the minimum every month and never missed a payment. A few months ago I asked for a cli and they denied it. Then the next day I got a letter saying they were closing my account. My credit is not great fico 630-660 depending on month. My other syncrony cards (Amazon and Sweetwater) have been fine. So the Lowe's account has been sitting there for 3 months closed. I have made payments like am supposed to, but have not paid it off.
Today for fun I went to the Lowe's site and tried to prequalify for the same card. It said I was prequalified with a 1000 limit. I am half tempted to go the next step and see if they actually give me another card. I also am pausing because I don't want a wasted inquiry and I don't want them to go after any of my other synchrony accounts. Anyone been in a similar situation before? Thanks
Not worth the risk, imo. Sync is a FAFO lender. You could get denied, then see your other cards closed as well.
I am fairly certain that pre-approval is a ghost. Synchrony Bank has an existing policy that you cannot open the same account type for 1yr after it is closed. You cannot get another Lowe's card at this time even though technically you would qualify. If you had a Amazon store card and closed it by either side you would have to wait a year too. Any application you file for a Lowe's card will be denied.