Lowes Card

[Skye12329]

So i will hopefully be buying a house either in November or Spring time, my question is about the Lowes Card. Because with comes upgrades and remodeling. 

1. Is this card worth opening? I mean i said i would never open another store card but i mean how often can i get a promo with lowes?

2. Is it like BBY where you spend X amount and get 0% financing?

3. CLI soft or hard? Because if i get a low initial limit can i call right away or do i need to wait for the card and whether its soft or hard for asking.

4. Who is the bank behind this card?

Thanks!

[coldnmn]

Searching the board can answer some of your questions.

http://ficoforums.myfico.com/t5/forums/searchpage/tab/message?filter=labels%2Clocation&location=foru...

[CenturyChild]

I like the Lowes card myself.  It just depends on if you are comfortable with the way they do the promo offers or not. 

So long as you pay within the time frame it is 0%.  But, if you miss the time frame, interest charges back date from the day you made the purchase. And the interest rate is a bit high.

So theres the pros and cons to it.

In regard to the promo, theres always a 5% or 6month promo.

If the purchase is $299 or more, you can choose 6 months 0% Promotion, or 5% off. Whichever you prefer but not both.

Anything under that is just 5% off if you use the Lowes card.

Periodically throughout the year though, they  will alter the 6month 0% to something like 12 or 18months.

Also on very large purchases you can opt for a 5.9% APR promo over 84 months.

I like mine alot and use it fairly often. I think they are worth having especially if buying a lot of nerw appliances or some home repair.

In regards to the limit, they are pretty good being GE/Syncrony.  Typically you get auto CLIs every 4 months or so, but YMMV.

My Lowes card got instant approval and I called right away and told them I needed more for the planned purchase.

They increased it to my requested amount right then.

Then on the 4th statement increased it again.

So yes, they are rather generous with CLIs (or at least have been for me)

[leegreen]

+1 to above

Also the threshold for the 84 month 5.99% is 3500.

[Anonymous]

Several times a year Lowes will offer an 18 month no interest promotion if you spend more than $299.  

I love my Lowes card and they have been very generous with CLI.

[Peteyglad]

Another +1 for the Lowes card. I am remodeling my house and the 5% off has been fantastic. Haven't used the 0% offer yet. While I usually dislike store cards this is one I feel is worth it.

[physicist82]

We just bought a house last month and the day after closing we opened a Lowes card because we needed a fridge. We had a 10% off coupon for changing our address with the postal service so they wouldn't stack that with the 5% off so we opted for the 6 mon no interest. Bought a washer/dryer too, a dog door insert and a few other things we needed. 

**I highly suggest when you move to go to the post office and pick up the address change packet so you can get the coupon. You get one with the packet that you get the form in and then when the post office mails your confirmation to your new address you get another one. There are also coupons for Best Buy, Target and various services in there. 

Over labor day weekend they offered an 18? month financing special. (I want to say 18 although it could have been 12) so we bought the material and scheduled install of bathroom flooring through them.

Its GE/synch so CLI's are soft pulls and for us they pulled TU (our mortgage score for them was 737). The lady who sold us our fridge was going to ask for $3k (our total that day was 2400) but we asked for 5k in case there were things later we needed to buy. We got approved instantly through the register for the 5k. We might have been able to ask for more, but at that time our highest limit card was $3500 and we didn't want to risk getting denied for asking something higher. 

[Skye12329]

Thanks for all the information everyone, maybe this will be the last store card i open. It sounds like it could come in handy. My question is to the last post im confused by asking for a limit. Like when you applied did you choose your limit? Or called credit solutions? So want to make sure, when your approved you can call right away for a higher limit dont need to wait for the card?

[jamesdwi]

Got the card, with an $800 CL, called that day, and requested a CLI to $5k , a $1000 more than my Home Depot card. Purchased my daughters wedding pressent, for a couple hundred dollars, paid it off, in a couple months later auto-cli to $8k.  CLI's and 0% deals is a good enough reason to get and keep the card.

Home Depot card AP'd 2.5 years ago, recv'd an $800CL,  same day called and asked for a CLI to $4000, approved, used it a few times, usually every 3-6 months. Did a couple 6 months zero percent interest deals,  the card is still at $4k, no CLI's since day one. 

[Skye12329]

Thanks, so it sounds like they are pretty lenient on CLI. Should i apply for the card when im ready to purchase something? To help the limit or do you think its just kind of whatever limit is given? If that makes sense like personally when i applied for my Discover and added the BT info i think it helped on giving me a higher limit for fitting my needs. So is that how they would see it too?