Someone asked about Home Depot in another thread which reminded me to call in to ask about a limit increase. I was at $7,500... asked the automated system for $2,500 more. It sent me to a person. I asked for the same $2,500 and they told me they could do $3,000 for a new CL of $10,500. To go from ~$1,200 to $10,500 in just under a year is pretty sweet! For what it's worth, usage and payment patterns seem to be a big help. I have a Lowes account (they use the same lender as Home Depot) but I have never used it. I called them the other day to ask for a limit increase and was declined. I guess it's time to start doing some shopping at Lowes!
Hey Sound Great!!! I also have a Home Depot Card, They gave me an automatic Increase this month, Do I have to wait six months to ask for another increase, or can I just call and ask for another increase today??? Reason is, I called Circuit City and they gave me an automatic increase and I called to ask for more and they said they just gave me one the past month and I had to wait six months. =) I been a Home Depot Card Holder Since August 2002.
Has anyone gotten a better "go to" interest rate for the HD card? It is hard to justify carrying a balance on it when the rate is so high.
Hubby and I each have own hd cards. HD will not give him cl increase. His eq is perfect, we pay it off every other month...utilization ranges between 20 and 50 %. Still, no go. Not sure why. His limit is stuck at 500! I would be dangerous with a 12k cl at hd.
I just called Home Depot Customer Service to increase my Home Depot Card credit limit. I told him I need extra $2500 credit to repair my house. He put me on hold for a couple of mintues.He said "Good News!!!! Your account has been increased to $11.300 effective immediately." They increased my Home Depot Card from $8800 to $11,300. By the way, they lowered my purchase rate to 9.9% fixed three yrs ago. Ron.
I never thought of asking for a lower APR on this card. I figured most retail cards are stuck where they are. I'll have to do that tomorrow.
Whenever I call they tell me they will pull a hard inquiry. I tried it a month ago and they turned me down flat. Granted, I have only had the card since mid oct but I use it alot and pay the dang thing off. I think I have a $33 balance left now but I am stuck at $300 which barely qualifies me for their 0% offers.
the best way for the $300 no interest 6 month deal is to buy $300 of HD gift cards. I am finishing our basement and have had a lot of $50-100 purchases. This way I get the no interest but can still make the smaller purchses as needed.
An interesting followup to this: I pulled Equifax today and noticed that on Monday when I called and asked for a Lowes increase, Monogram pulled an "AR" inquiry on Equifax on-the-spot. My EQ score is 698 and they declined the increase. When I asked for the Home Depot increase yesterday, Monogram pulled ANOTHER AR inquiry on Equifax. This time -- same report mind you -- I was approved for a $3,000 increase. Weird. Usage and payment really do make all the difference.
DaveLV, They pulled AR=Soft Inquiry on your credit report and it doesn't show up on creditor's credit report and doesn't affect your score. By the way, about 9.9% fixed rate for purchases for Home Depot Card. I didn't asked me for it and they sent me the notice that I got that rate because I'm one of preferred customers . Ron.
It's nice to see such a huge CL increase. Yet this is the one credit card where I would not in anyway be tempted to spend more. I always equate HD with hard work. The higher credit line they'd give the more things to buy and the more work installing the items. Now a SAks or Neimans increase, that I'd enjoy because its all beaitufiul stuff which is fun to own.