Applying for a Home Depot Card

[NeedinHelp42]

I currently have all scores in the 650-660 range, with 25%ish utility.  Last month I took a chance applying for a Citi Platinum card, but was denied due to an old baddy-it's a deliquent/charged off hsbc card from 4-5 years ago.  

Does denial by Citibank for a bank card mean I'll likely be denied for a Home Depot card, as they are the backers?

Am I better off trying my luck with Lowes?

Thanks in advance for responses. 

[NeedinHelp42]

Anyone?

[daytrade5]

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@NeedinHelp42 wrote:

I currently have all scores in the 650-660 range, with 25%ish utility.  Last month I took a chance applying for a Citi Platinum card, but was denied due to an old baddy-it's a deliquent/charged off hsbc card from 4-5 years ago.  

Does denial by Citibank for a bank card mean I'll likely be denied for a Home Depot card, as they are the backers?

Am I better off trying my luck with Lowes?

Thanks in advance for responses. 

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I would go with the Lowes card right now if you're looking to purchase something soon, or pay your utl down and then apply for the Home Depot card once it's been 45 days since you applied for that Citi card.

[Anonymous]

In the past, HD has been more generous with establishing credit and offering CLI's than Lowe's.  However, during the recession HD was corporately in shakier financial shape than Lowe's.  I've had a CSR in HD try to get me to accept multiple cards of the same product line.  That should sound an alarm when you see retailers do it, especially if a third party services the credit.

[NeedinHelp42]

Went the Lowes route and was approved for $450 initial limit.  Not big, but enough to purchase a new lawn mower with 6 months iterest free, which was what I was after.

Thanks for the advice folks.

[tray]

Congratulations, I am also looking for a home improvment card with the special financing as I need to get some new appliances, ufortunately the brand appliances I want only lowe's has not home depot, do you mind me asking did you go in store to app and made a request for a certain cl or did you app'd online I am just wondering if lowe's these days are giving out higher credit limits, as my purchase will cost close to $2,000.00 thanks for any information.

[Anonymous]

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@NeedinHelp42 wrote:

Went the Lowes route and was approved for $450 initial limit.  Not big, but enough to purchase a new lawn mower with 6 months iterest free, which was what I was after.

Thanks for the advice folks.

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LOL You are to blind to see what you really have. I believe Lowes is GEMB which means you get a CLI every 4 months soft pull. Lowes is also very generous at giving CLI. My advice. Either wait 4 months or buy a push mower. After 4 months you might get a big enough increase to get a riding lawn mower.

You got yourself a good card for what your scores are. 

[Anonymous]

I don't think you can request a credit line. But you can always call their credit analysts department and see if they will increase the line you recieve in order to accomodate what you would like to buy.

[Anonymous]

gbishere:  Your experience with Lowe's is completely different than mine but I'm happy for you.  I applied at HD and Lowes four years ago and got starting limits of $2400 from HD and $1100 from Lowes.  The only change in my CL from Lowe's since then was when they dropped it to $200 for nonuse over a year (then they did a hard pull to bring it back up to $1100 again.)  Meanwhile HD has more than doubled my CL over four years while my credit scores have gone up 100 points from the mid 600s.  So if Lowes is a great company credit-wise in handing out CLIs, then I must have been standing in the wrong line..

[Anonymous]

lol k well good for you. GEMB has easier approvals than Citibank.  So if someone has a score in the mid 600's I would more likely give them the advice to go with the lowes card.