Jump to content

Sign in to follow this  
sable

Home Depot or Lowe's?

Recommended Posts

Hello all!,

I recently just closed on a house a few weeks ago, and as I'm getting everything settled in, there are a few things that I need (washer, dryer, lawn mower, etc.) I was looking at some of the deals that these 2 stores had, and wondered if any of you had an recommendations between the 2. From what I've read, Lowe's is Sync and Home Depot is CITI. I took a look at the credit pulls data base, but there was little to go on from there, as most were from years ago.

 

Thanks!

Share this post


Link to post
Share on other sites

I had a negative customer experience with Home Depot so I typically don't patronize their stores. However I'm sure others on here would say the same for Lowe's.

 

Lowe's does offer a discount for using their card HOWEVER not all brands are discounted. Some of the high end appliance brands are not discounted. Typical Synchrony for the Lowe's card - if your CRs are thick and clean, you can get a decent initial CL.

 

Just be careful on the home purchases. As one who has been there before with buying a home, then buying a bunch of appliances for said home, then either taxes kick in or the interest rate resets and you end up screwed.

Share this post


Link to post
Share on other sites

I would put purchases like that on an American Express card to double the manufacturer's warranty.

 

Don't buy anything you can't PIF, even if that means making runs to the laundromat for a couple of months or buying secondhand until you can get what you want.

 

If you have a Sears Outlet near you they often have great deals on appliances, especially if you're willing to buy something with a small dent, scratch or other imperfection on one side or the other that will be undetectable after installation.

Share this post


Link to post
Share on other sites

I add to what's already been said....

 

Both cards offer 6/12 months 0% promotions. With said don't go spending like crazy think you will get it paid off in time before interest kicks in. Interest kicks in and goes back to the original purchase price, not what balance you have remaining. Life can throw a curve ball and you cant get it PIF before the 0% ends.

 

I know somebody right now going throw pains because something came up that prevented them from PIF before the time was up. But I and others at the time were purple to them with the advice we offered. So they went out, got top of the line washer, dryer, refrigerator, and stove.

 

Children do what feels good. Adults devise a plan based on sound reasoning and math.

 

At the end of the day, you get to decide.

Share this post


Link to post
Share on other sites

It's my understanding that Lowe's and HD's appliance financing is separate from the Credit cards. You may want to look into that although I may be wrong.

Share this post


Link to post
Share on other sites

It's my understanding that Lowe's and HD's appliance financing is separate from the Credit cards. You may want to look into that although I may be wrong.

 

They may, but my last Lowe's appliance purchase was 3 years ago, on my girlfriends Lowe's card which came along with a promo of 18 months @ 0%.

 

One additional benefit of the Home Depot card is a 1 year return period on most purchases.

Share this post


Link to post
Share on other sites

I easily received a Lowes card back when I was rebuilding, and now have it at $35k for utilization purposes. I also take advantage of the 5% and PIF. I don't buy too many appliances, but I do a lot of home projects, so it's very useful to me.

 

I don't believe HD offers that high of a limit without a 100 hard pulls from Citibank, nor do they offer the 5% discount.

Share this post


Link to post
Share on other sites

I agree with cv91915, put big-ticket stuff on an AMEX to double the warranty (works great for stuff that seems planned to punk-out not long after the warranty expires), but FIRST goto the Post Office and check if they still have the 'Movers Pak', which might contain a 10%-15% Home Depot coupon. HD will also give a discount if you (or a relative) are active duty or retired, just be able to flash some kind of military ID up front. Might be able to also stack the coupon when you get to the checkout.

 

Share this post


Link to post
Share on other sites

I couldn't decide which one to get since both stores are close by, so I app'd both in a mini-spree. Lowe's approved $10k at the time of app with a cli $25k after the first statement. Home Depot (Citi) was quite a stingy, $1301 instant line which increased to only $4k when I called in to verify some info. I certainly recommend using Amex or another card with extended warranty benefits when you can, however Home Depot does allow for 1 year returns on most items purchased with the card, which could be useful in some circumstances.

Share this post


Link to post
Share on other sites

Make sure you put all major purchases through the bidding room, a virtual discounting process.

 

In my experience, the best people to do these orders with is a sales person in the flooring, window or major appliance department, because they have sales goals and will be motivated to make the sale.

 

To make it easy for them, just build a shopping list online (make sure the items are not sold online only) and bring the list in for them to create a bid.

 

Huge discounts usually come from building materials.

 

Home Depot supervisors and up have the ability to provide additional discounts beyond what the bidding room provides (I believe 10%).

 

Build a relationship at your local store with assistant managers, store managers and customer service managers at the special services desk, it will go a long way in getting good pricing.

 

I think $1500 is the minimum for the bidding room.

 

If you are a big dog, then get with an outside sales rep from home depot to get deeper discounts.

 

Good Luck!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines