This must be something new. I just received an app for a Lowe's Visa Platinum Card. When I go to Lowe's site, I see no mention of Capital One. Anyone else ever hear of this one? The mailer says that I am "Pre-Selected to Apply" that doesn't sound like any promise other than they will look at the App. There's no other promise on the App, and it doesn't look like any instant approval, as there is a phone number to call, or an envelope to mail the App. I have a $5K Platinum Visa with Cap One. I haven't applied for anything new in over a year. I was thinking it was about time I try something new. I didn't want to waste my effort on this one if it doesn't at least get me $1K in credit. Anyone out there get this invitation? Or have any feedback on a Lowe's Visa Platinum Card?
JUST ANOTHER CO-BRANDED CARD...NOT A "STORE CARD" CAPITAL ONE... "HARD" INQUIRES ALL 3 MANY TIMES 2 OF 3 SOMETIMES 1 OF 3 RARE
My brother received the same Lowe's Platinum Visa offer from Capital One early this year and he didn't want to apply for one. I think it is invitation only and you cannot find application inside Lowe's. The invitation offer you offer you 0% for six months over $299 as same as Lowe's Card. It also said that you can bring the invitation coupon to the store and get instant approval or mail in the application. Ron.
Got the invitation and was approved for $2000; already having the Plat for $7500. Interest rate is horrible though, after initial 6 months, went to 19.8.
"IF" it is like other CO-BRANDED cards...YOU CAN'T DO ANYTHING WITH IT...LIKE YOU CAN'T COMBINE THE CREDIT LIMITS WITH ANOTHER CARD IN THE SAME COMPANY AND CLOSE THE CO-BRANDED CARD. And "USUALLY" they have higher interest rates...
Just got this offer in the mail today as well. Debated on applying, but I don't want 3 hards and a $200 CL. Matter of fact, $2000 is not even worth 3 hards. My invite had 19.8% as well. Did they pull all 3 bureaus?
Re: Re: Lowe's Capital One LOL I probably wouldn't mind or gripe much at $2k for 1 hard, but for 3 would be just horrifying. 3 hards for a $300 limit from Cap 1 is horrendous. That will never happen again. Right now, Chase is my lowest CL at $4k, so I would have to say if I had to "spend" a hard, I'd at least want that much. I also really don't want any more cards other than Blue, which I can't get right now until I finish clearing up a couple things. I'm just working on building up CLs on the current cards I already have.
Lowe's Capital One - Questions I have questions on this on both sides of the fence. From the Capital One side, I already have an account with them in good standing, plus, they are doing a soft account review inquiry on my CR about every other month, so why would they need to do a hard look up on all three??? From my side of the fence, I don't ask for credit often, don't see a need for anything in the next six months, so how much can it hurt me if they do a hard inquiry on all three? If I get at least an extra $1k here, it should help more than it hurts???
Re: Lowe's Capital One - Questions I've thought about that question myself. Or if I'm in good standing, why would I have to apply for "Platinum" status when I go to combine my two Cap 1 cards that have at least $5K it total CL? Why not reward your good customers and just do it. Why "cost" the customer 3 hards when you already have an idea of what the customer's credit looks like anyway? If you don't apply for credit often, then the 3 hards won't mean much to you. Maybe a 7 pt max drop in FICO score which will recover after several months of payments anyway. It's also just the fact the most creditors pull 1 bureau on you, so why does Cap 1 have to pull 3?
Re: Lowe's Capital One - Questions faztcobra, Thanks for the feedback, Seems we have similar thoughts, as well as similar FICO's Guess I'll spend my "hards" and see what happens, I'll keep you posted,
