Atlanta, Georgia

I had a Lowes credit card but never used it. I was given the 5% discount on whatever I purchased at Lowes. My stove went out and I purchased one with a total of $400.00. Minimum payment was $15.00, so I paid $30. Their interest rate are 24.99%. I wanted to pay this off as soon as possible. I made the $30.00 payment for 3 months. My next bill stated my "minimum payment" was now $25.00 per month!

Lowes raised my minimum payment to keep me from paying off the balance quickly.

When I called their office and asked about it, I was told "they had a meeting" and decided to change the payment amount, however, Lowes fail to tell me about it and I but none of their other customers!

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GE Capital


Lowes @ store level has nothing to do with raising payments or anything to do with credit changes. That's all the credit centers doing. U must have other purchases you made and increased ur balance therfore increasing ur minimum payment.


if your next bill stated that the minimum was raised then obviously they did tell you. and why is a $25 minimum too much if you were already paying $30 anyway?


So you want to pay it off as quickly as possible, so you make $30 payments? Why not make $100 or $200 payments then?


How does raising your minimum payment keep you from paying off the purchase quickly? Raising your minimum payment will force you to pay it off more quickly and pay less interest.

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