Home Depot and Lowe’s new VP are having a credit war competing for your business this summer.
Their holding banks (which one - depends on where you are located) have been asked by corporate to lower acceptable FICO scores and add a seasonal or extenuating circumstances inflation adjustment until late July 2022.
Consumers of these big box stores are being targeted as a big push is on to commit you to their brand. Historically low credit default rates, a personal savings uptick for the 5th consecutive quarter and home improvement are up 7.3% in the 1st quarter of 2012 are a few justifications for the banking partners of the two largest home improvement retailers to offer a credit easing and increasing established lines of credit.
Acceptable FICO scores to open a minimum line of credit at Lowe’s is expected to be adjusted to 625 subject to bankruptcy discharged and exemptions under the Federal law protection established for pandemic relief.
No guide lines have been released addressing increases to initial or established lines of credit.
Information although not guaranteed is deemed reliable from the leaderboard of Investors Business Daily as of 05/20/21 and Baron’s Investment News, AP Network, May 2021.
Their holding banks (which one - depends on where you are located) have been asked by corporate to lower acceptable FICO scores and add a seasonal or extenuating circumstances inflation adjustment until late July 2022.
Consumers of these big box stores are being targeted as a big push is on to commit you to their brand. Historically low credit default rates, a personal savings uptick for the 5th consecutive quarter and home improvement are up 7.3% in the 1st quarter of 2012 are a few justifications for the banking partners of the two largest home improvement retailers to offer a credit easing and increasing established lines of credit.
Acceptable FICO scores to open a minimum line of credit at Lowe’s is expected to be adjusted to 625 subject to bankruptcy discharged and exemptions under the Federal law protection established for pandemic relief.
No guide lines have been released addressing increases to initial or established lines of credit.
Information although not guaranteed is deemed reliable from the leaderboard of Investors Business Daily as of 05/20/21 and Baron’s Investment News, AP Network, May 2021.