@dizzyskyline wrote:
Went to HD to buy some Ryobi tools. Applied with the cashier while checking out and approved for $5000 sl.
I keep hearing about these limits of 35 K. Should I call a phone # to ask for a cli now, wait til I get the card? I"m shooting for the 35k!!! My Fico is about 706
My HD limit is $25k, Lowes $35k (DW has $25k Lowes plus a $20k HD) - these occurred over a couple of years (maybe more). Frankly, a $5k starting limit for HD is pretty good especially with a 706 credit score (good but not great) - you could call or use the online portal for a CLI right away - with Citi it is usually another HP - and they might bump you up some if you explain you have some major projects planned, but you won't go to $35k just like that.
These cards, HD and Lowes are especially good for 0% 6-month financing or low 3.99% to 7.99% long-term major purchase or project financing. They are NOT good for carrying a balance as the everyday purchase APR interest is very high at 27% +/-. Large limits allow for special projects such as a new roof at $10,000 with 84 months at 2.95% (which I did and paid off in just over a year). Just be sure to pay in full every month HD/Lowes everyday spending and save your high limits for "utility" room for special projects. I recently had new flooring installed at just over $4k and used 6 months 0%, I also replaced several kitchen appliances at just under $2k and took the 5% discount for a standard purchase because I knew I was going to pay in full right away.
Congrats on your approval!
. The 35k you hear about is on the Lowrs credit card by Synchrony. Citibank is more stringent on cli
