Hi,
I wanted to see if anyone has heard of random card closures and limit decreases on the Lowe's Advantage card. I was recently approved for one. I had expected to use it to get new appliances for our kitchen using the 0% interest option. I then began reading some really bad reviews on credit karma about this card. I want to see if anyone here has had any negative experiences. I do not want a card that will randomly be of no use to me without notice.
Thanks,
Congrats on the recent approval! 
I hope that is not the case with this card, because I was looking to add it to my wallet eventually.
“Most people work just hard enough not to get fired and get paid just enough not to quit.”
Card closures and credit line decreases from Synchrony are rarely random. Almost all of them happen because of a number of new Synchrony accounts opened at once, usually by those with very marginal credit profiles.
I’ve had ZERO issues with mine, and I rarely use it these days except for 0% APR offers since I get the 10% veteran discount that doesn’t stack with the card’s discount. With your scores and the other cards in your list, you may want to ring up the overseas Credit Solutions line and ask for a credit line increase to $25-35,000 (or whatever you are comfortable with). They will counter-offer if they don’t give you what you ask for. Very minimal interaction and it’s only a soft credit inquiry. That way with a major purchase you won’t be maxed out. $35,000 is a very common credit line for those with very good to excellent scores.
I’ve had ZERO issues with mine, and I rarely use it these days except for 0% APR offers since I get the 10% veteran discount that doesn’t stack with the card’s discount. With your scores and the other cards in your list, you may want to ring up the overseas Credit Solutions line and ask for a credit line increase to $25-35,000 (or whatever you are comfortable with). They will counter-offer if they don’t give you what you ask for. Very minimal interaction and it’s only a soft credit inquiry. That way with a major purchase you won’t be maxed out. $35,000 is a very common credit line for those with very good to excellent scores.
Thanks K-in-Boston. That's exactly why I came up here. I wanted some solid input. I started reading those complaints and it freaked me out! I just don't want to do anything to jeopardize the work I have put into my credit by appearing maxed out on any card. I do have one other Synchrony card with Walmart. I only use it on occasion. I was thinking maybe that's why they approved me for a lower limit. I don't carry balances. I have been wondering lately if that is why some of my other cards have not increased my limit. I generally pay balances in full before the statements drop unless utilizing a 0% offer. I initially got the card thinking that I could stack with the 10% military discount and realized I could not do that when reading the fine print. That's ok with me though. I definitely have read that I should probably call up to increase my limit. I will try to do that. There are quite a few upgrades I want/need to do to our home so I thought it wouldn't be a bad idea to have this particular card.
Thanks High Achiever I was hoping it was false too! I really wanted to utilize the card for upgrades.
I wouldn't consider that to be a low starting line at all. I just looked at my approval email from a few years ago and it doesn't state the original credit line, but I want to say that it was somewhere between $4-6,000 on the screen when I applied. I called within minutes after being approved and asked for $25,000 and they counter-offered $17,000. A few months later, I asked for $35k and they gave me $25k. A little while after that, I asked for $35k and they gave it to me. I made a few attempts after, but got the our policy doesn't allow for a higher line letter.
This is good info to have pizza1! I will make sure to make some transaction to keep use on the card.
Gotcha! It still wouldn't hurt to have a little more wiggle room for larger purchases. I am going to give it a shot.
I love my card.
I use 0% all the time.
Easy to use website.
Easy to track 0% purchases.
Insane credit limit ($35k).
Highly recommend.
GL!
