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Lowes card approval odds?

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Regular Contributor

Lowes card approval odds?

Considering the Lowes card and can't prequalify for the Home Depot one, sadly.

 

Current Fico Scores (Just Pulled):

 

Experian: 644

Equifax: 628

Transunion: 645

 

I know Lowes is through Sync Bank. I have a Secured Amazon card through them, 42% Util. I have had this card for 5 months, no lates. I got a wal-mart card through Sync Bank as well, last month. Current util is 38%, and my first payment isn't due yet.

 

Total credit util: 25%

 

Have a dismissed chapter 13 case on file.

Have 5 collections on experian, and 4 on the other two reports.

 

Any insight is appreciated.

 



19 REPLIES 19
Valued Contributor

Re: Lowes card approval odds?

50/50 until you get the UTIL down.  

 

Get the usage down and it shouldn't be much trouble to pick up the card.  One thing to keep in mind is not getting too many store cards on your CR since they're captive unless they offer the V/MC options.  Also, too many too soon w/ Synch can be counter productive for not only CL's but, the chance of an audit resulting in a complete shutdown.

500K+ TCL / 800+ FCOs
Message 2 of 20
Community Leader
Senior Contributor

Re: Lowes card approval odds?

Synchrony lowes like a to pull TU as least in my experience. I am not sure if your score is high enough though. You might want to get your utlilzation down to under 8.9%. How old are the collections?
EXP 760 TU 781 EQ 733
Message 3 of 20
Regular Contributor

Re: Lowes card approval odds?

Could getting a 3rd card start an audit?



Message 4 of 20
Regular Contributor

Re: Lowes card approval odds?

1 from 2014 - Paid

1 from 2017 - $253

2 from 2018 - $122 and $268

1 from 2019 - $696

 

All unpaid are medical. The ones from 2017 and 2018 are due to unemployment.

 


@Jnbmom wrote:
Synchrony lowes like a to pull TU as least in my experience. I am not sure if your score is high enough though. You might want to get your utlilzation down to under 8.9%. How old are the collections?

 



Message 5 of 20
Community Leader
Senior Contributor

Re: Lowes card approval odds?

Strictly going by score on TU, I’m pretty sure you’d get it, although very likely with a limit at the minimum $300. The collections are very recent and unpaid though. I don’t honestly know how Synch feels about that stuff but that would be my more immediate concern. I’d deal with those before apping - those collections and a borderline TU may get you a denial.


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Message 6 of 20
Community Leader
Senior Contributor

Re: Lowes card approval odds?


@ImTheDevil wrote:
Strictly going by score on TU, I’m pretty sure you’d get it, although very likely with a limit at the minimum $300. The collections are very recent and unpaid though. I don’t honestly know how Synch feels about that stuff but that would be my more immediate concern. I’d deal with those before apping - those collections and a borderline TU may get you a denial.

I think the recent collection will seriously hurt your chances

EXP 760 TU 781 EQ 733
Message 7 of 20
New Contributor

Re: Lowes card approval odds?

I would say get your util down to under 10%, then think about applying, good chance when that happens.



On radar:
Message 8 of 20
Community Leader
Super Contributor

Re: Lowes card approval odds?

Are the collections after the BK? If yes, that would be 3 not-so-good marks against you: high UT, fair scores, and collections.

If I were you, I would take care of those collections first (see about PFD), then get UT down to <8.9%, which doing so will boost your scores.

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 804
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

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Message 9 of 20
Community Leader
Mega Contributor

Re: Lowes card approval odds?

Definetly work on your collections and improve your scores. Too many Sync cards too fast can be problematic but not fatal. Use your current Sync cards to build history and see where you are in DecemberSmiley Happy
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Message 10 of 20
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