Comments on: Lowes Credit Card Review

By: john

john — Sat, 19 Dec 2009 02:01:19 +0000

they did it to me .. i always paid on time.I didnt have a large balance and they closed my account.So thats 1 less customer that there employees will have to wait on.From the looks of it Im not alone.boycott lowes and ge credit..

By: Nicole

Nicole — Fri, 18 Dec 2009 07:25:48 +0000

they did the same to me we bought little things here and there to keep our credit good then they closed it and didnt even tell us i found out when i looked up my account online never shopping there agian

By: Paula

Paula — Mon, 23 Nov 2009 22:29:08 +0000

I had a Lowe’s card. Didn’t use it much. They lowered my limit, then closed it on me. Not a good way to encourage me to shop there!

By: Mike N.

Mike N. — Wed, 11 Nov 2009 05:12:25 +0000

Wow, how do they get away with this? We put hardwood floors in last year, and took advantage of the special 0% promotion, and paid off the card at the end of this period. They closed our card two weeks later, and cited the lack of a revolving balance was the reason… I guess we will be going to Home Depot from now on also…

By: Julia

Julia — Thu, 01 Oct 2009 19:36:00 +0000

The same thing happened to us. We have been Lowe’s customers for years. Granted, we didn’t use our credit card often, but when we did, it was nice to have it with the added benefit of being able to pay off major purchases over a few months.

A few months ago, out of the blue, we received a letter saying our account had been closed. I can’t remember the exact verbiage, but it came down to the fact that we weren’t carrying a balance. I was furious. Not only does an account closure ding your credit score, but it increases debt to credit ratio harming it even more. It seems that GEMB (Lowe’s credit guarantor) is punishing customers with good payment practices for those who are defaulting. That’s a pretty crummy business practice, in my opinion, and it certainly doesn’t do anything to inspire customer loyalty to Lowes.

Like Ex-Lowe’s customer above, we went to Home Depot and opened a credit account with them. And, Home Depot is where we will be purchasing our roofing supplies this spring. Lowe’s missed out on a big sale with that one and from the looks of the posts here and elsewhere online, they’re probably really going to be taking a hit due to their credit backer’s practices.

GEMB sucks and unfortunately, a lot of businesses use them. Ask the credit department at any business before you open an account if they are affiliated with GEMB and if they are, run away.

By: Ex Lowe's Customer

Ex Lowe's Customer — Thu, 30 Jul 2009 10:42:06 +0000

I’m just so over Lowe’s. My husband and I are building our own home. Which is 75% complete and has been paid for with cash. Majority of my purchases have been from Lowe’s in Gloucester VA. Employee at the store insisted, “since we were always there and spending so much money” that we should apply for their card. We applied in store for a credit card (just to make it more convenient, for records and account management) We were denied. Something about the address didn’t match their records. So a few months later I received an email offer to apply for Lowe’s Credit again. I applied was told to wait for a response, received and email that was unable to open up my info, I called the 1-800 number got someone who couldn’t speak a word of English. The rep had a hard time looking my info up?,?,? Finally he told me that I had been denied. I requested a copy of the denial and still haven’t received it. Augggggh! Just for the hell of it I went to Home Depot’s web site and applied for credit. Got approved immediately with a better interest rate and a $5000 credit limit! Got a call from a very friendly account rep (that spoke English) to verify my info and confirm that I requested the credit. It was a very nice way for Home Depot to congratulate me and welcome me to their family. Way to go Lowe’s! I wouldn’t go in that store again if my life depended on it. If Home Depot doesn’t have what I need I will order it somewhere else, wait for shipping and pay more if I have to. Home Depot vs. Lowe’s Credit and Customer Service. Home Depot is the better place to do business with!

By: kris

kris — Sun, 19 Jul 2009 06:20:20 +0000

This is so true…Lowes did the same thing to me. I paid off a washer dryer combo that I purchased interest free. Paid it off early and they closed my account. I now shop at Home Depot. Will never shop at Lowes again.

By: Jerry

Jerry — Fri, 01 May 2009 17:36:16 +0000

WARNING! Do not apply for this credit card! GE bank is a terrible provider. I have had a Lowes credit card for about 5 years now and I had a good credit rating when I got the card. Now I have an excellent credit rating and I have never had a late payment with this or any other card. I always have kept a minimum of 20% available on the card and recently started to pay the whole thing off due to its high interest rate. As soon as GE bank noticed this they dropped my available credit so that I was nearly maxed out on my card. Then they just sent me a notice today that they are going to close my account with an outstanding balance. They are claiming that it is due to credit issues that I have. My credit has done nothing but improve since the day that I applied for this card. Credit card companies like this is why peoples credit scores go down! They give you a line of credit then reduce it to get you maxed out so they can hopefully get some overage fees. I will be sending them a nice package with little bits and pieces of my card.

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