Denied Home Depot project loan

[Anonymous]

So my husband and I just closed on a new home end of August and wanted to take out a Home Depot project loan to have Home Depot install a vinyl fence that we were quoted $8,000 for. We were denied! Don't know why yet. We have good credit and good income. So I decided to request a CLI for our current USAA credit card and they increased it from $15,400 to $26,000! Why would we be able to get an almost $11,000 CLI but get denied a Home Depot $8,000 project loan?

[Anonymous]

Do you know which CRA Home Depot pulled?

[CH-7-Mission-Accomplished]

Have you tried Lowes?  They are way more generous and easier to get along with.  They are not Citibank!

[Anonymous]

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@Anonymous wrote:

Do you know which CRA Home Depot pulled?

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An important question. Also, what are your scores with the three bureaus? It could be anything.

[Anonymous]

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@CH-7-Mission-Accomplished wrote:

Have you tried Lowes?  They are way more generous and easier to get along with.  They are not Citibank!

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Agreed!

[creditguy]

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@Anonymous wrote:
So my husband and I just closed on a new home end of August and wanted to take out a Home Depot project loan to have Home Depot install a vinyl fence that we were quoted $8,000 for. We were denied! Don't know why yet. We have good credit and good income. So I decided to request a CLI for our current USAA credit card and they increased it from $15,400 to $26,000! Why would we be able to get an almost $11,000 CLI but get denied a Home Depot $8,000 project loan?

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Because some companies are just weird. To be honest it's a good question because USAA if fairly conservative, if they deem you worthy of a sizable CLI you are obviously a solid credit candidate. Have you called for Recon? 

[taxi818]

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@Anonymous wrote:
So my husband and I just closed on a new home end of August and wanted to take out a Home Depot project loan to have Home Depot install a vinyl fence that we were quoted $8,000 for. We were denied! Don't know why yet. We have good credit and good income. So I decided to request a CLI for our current USAA credit card and they increased it from $15,400 to $26,000! Why would we be able to get an almost $11,000 CLI but get denied a Home Depot $8,000 project loan?

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Simple. two different lenders. we say over and over lender A does not care what lender B does. I think if you got that another way would be for you to go for the home depot credit card. it could easily be for 0% up to 36 months. but not sure how long the home project loan would have lasted, more than likely very low interest. You are kind of like me. I can't beleive i just turned down on something recently and the reason was too many inquiries in the last 3 months. could not believe it. yes. i purchased a car last month. so i had 8 inquiries with the assumption they would count as one on my fico. They did not hurt my score very much. but looks like lenders still hold it against me. from the number of inquiries on the same day.

[Anonymous]

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@CH-7-Mission-Accomplished wrote:

Have you tried Lowes?  They are way more generous and easier to get along with.  They are not Citibank!

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I think a few of you are confused about the Home Depot Project loan.  It's not thru Citibank but thru Greensky Credit and is more of an installment loan than a credit card.

http://www.homedepot.com/c/Project_Loan

[Anonymous]

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@Anonymous wrote:

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@CH-7-Mission-Accomplished wrote:

Have you tried Lowes?  They are way more generous and easier to get along with.  They are not Citibank!

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Agreed!

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Agree with both Musiclover and CH-7.  Lowes offers 84 month 5.99% fixed financing on purchases over $3500.  Something to think about.

[Anonymous]

I have not tried lowes but don't want anymore hard pulls on my credit. We will just get the fence on our USAA credit card. I do know that Home Depot pulled my experian report and last time I checked my credit with experian it was 718.