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Our Lowe's Credit Card Experience: $100 to $15,000 — Then Back to $100
We've had a Lowe's Home Improvement credit card (MyLowe's Rewards Credit Card) through Synchrony Bank since July 7, 2023. We started as new credit users with no credit score and a $100 limit. Through responsible use and never missing a single payment over nearly 3 years, we built our credit limit up to $15,000 (highest balance: $14,813).
We used their 12-month no-interest promotional offer while building our house. When the promo ended, we did exactly what you're supposed to do — on March 26, 2026, we paid off $13,545.66 in full.
Synchrony Bank Credit Limit Reduction: How It Happened
July 7, 2023 — The Beginning
Opened Account with $100 Limit
Opened a MyLowe's Rewards Credit Card (SYNCB/LOW) as new credit users.
2023–2026 — Building Credit
Built Credit Limit to $15,000
Nearly 3 years of responsible use during our home build. Limit grew from $100 to $15,000; highest balance $14,813.
Promo Period
Used 12-Month No-Interest Promo
Financed building materials, appliances, and supplies through Lowe's standard 12-month promo.
March 26, 2026 — Payoff Day
Paid Off $13,545.66 in Full
Paid the full balance in one payment the day the promo ended.
Immediately After Payoff
Credit Limit Slashed to $100
Synchrony dropped the limit from $15,000 back to $100, leaving us at 83% utilization on an $83 balance.
The Call
"Nothing We Can Do"
Called to dispute. No explanation, no appeal, no path to restore the limit.
Before & After Paying Off Our Lowe's Credit Card
Before Payoff
$15,000
Credit limit • 735 TransUnion • 735 Equifax • 100% on time
After Payoff
$100
Credit limit slashed • 83% utilization on $83 balance • No recourse
Credit Report Proof: Overall Profile & Lowe's Account Details
These figures are from our TransUnion and Equifax credit reports, to the best of our knowledge and recollection as of April 2026. The top row reflects our entire credit profile across all accounts over 7+ years — not just the Lowe's card. The account-specific figures for the Lowe's / Synchrony Bank card are below.
Overall Credit Profile — All Accounts, 7+ Years
TransUnion Score
735 / 850
Overall profile
Equifax Score
735 / 850
Overall profile
Payment History
100%
All accounts • 7+ years
Derogatory Marks
0
All accounts • ever
Times 30/60/90 Days Late
0 / 0 / 0
All accounts • not once in 7+ years
Hard Inquiries
2
Good | Low impact
Lowe's / Synchrony Bank Account — Specific Details
Account Opened
Jul 7, 2023
2 years, 9 months
Account Type
Charge Account
SYNCB/LOW • Individual
Highest Credit Limit
$15,000
Built over nearly 3 years
Highest Balance
$14,813
Per credit report
Payoff Amount
$13,545.66
Paid March 26, 2026
Current Credit Limit
$100
Slashed after payoff
Current Balance
$83
83% utilization on $100 limit
Payment History — Every Single Month Paid On Time
J
F
M
A
M
J
J
A
S
O
N
D
2026
✓
✓
✓
—
—
—
—
—
—
—
—
—
2025
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
2024
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
2023
—
—
—
—
—
—
✓
✓
✓
✓
✓
✓
✓ = Paid on time — = Account not yet open or month not yet reached Zero late payments. Zero derogatory marks. Ever — not on this card, not on any account, in 7+ years.
Synchrony Bank Payment Security: Charged Without Our Consent
As if slashing our credit limit wasn't enough, we discovered that Synchrony Bank had been charging us for a product called "Payment Security" — a debt cancellation program that costs $1.66 per $100 of your statement balance every month.
We never knowingly signed up for this. We never requested it. When we called to cancel, Synchrony Bank themselves told us we never signed for it. They claimed it was tied to a checkbox on the original credit card application.
⚠️ What Payment Security Cost Us
At $1.66 per $100 of your statement balance, the charge varied every month based on what we owed. As one example, on March 5, 2026, we were charged $166.00 for Payment Security alone. The charges fluctuated every month — the higher your balance, the more they take.
They charged us for months before we even noticed it buried in our statements. When we called the Payment Security line at 800-815-4051:
• They confirmed we never signed up for it
• They said it was "optional" and tied to a checkbox on the original application
• They cancelled it going forward
• They never refunded the money they charged us
So an "optional" program that we never signed for was added to our account, we were charged for it for months, and when caught — no refund. In our opinion, this feels like an unauthorized charge for a product we never agreed to.
- ❌ Check your statements for "Payment Security" charges. You may be paying $1.66 per $100 of your balance every month without realizing it. On a $10,000 balance, that's $166/month.
- ❌ They may say you "signed up" via a checkbox. In our experience, we were told we never actually signed for it, yet we were still charged. Call and demand a full accounting of what you've been charged.
- ❌ Don't expect a refund. Even after confirming we never signed for it, Synchrony Bank did not return the money they had been charging us.
⚠️ The Real-World Impact
Because of this sudden credit reduction, we no longer have access to the credit we were relying on to finish our house.
We literally don't have the funds now to complete our build.
And it gets worse: our credit utilization is now showing 83% — not because we're irresponsible, but because our limit was slashed to $100 and we have an $83 balance. A card that once had a $15,000 credit limit now makes us look maxed out to other lenders.
Let that sink in. We did everything right — paid on time, every time, for nearly 3 years — and the reward for being a responsible borrower was losing the credit line we needed most and having our utilization ratio destroyed.
Lowe's Credit Card Warning: What Every Cardholder Needs to Know
It feels like you're better off carrying a balance than doing the right thing. Here's what we wish someone had told us:
- ❌ Don't assume paying it off helps you. We paid off $13,545.66 in full and were immediately punished for it with a credit limit reduction.
- ❌ Don't rely on that credit line still being there. A credit limit you've earned over years can vanish overnight — right when you need it most.
- ❌ Don't expect loyalty to matter. Years of perfect payment history, responsible use, and doing everything by the book counted for nothing.
- ❌ Don't expect any recourse. When we called, they said there was nothing they could do. No appeal. No explanation. No path to restoration.
- ❌ Check for hidden "Payment Security" charges. We were enrolled without our knowledge and charged $1.66 per $100 of our balance every month. Synchrony confirmed we never signed for it but still won't refund the charges.
Lowe's Credit Card FAQ: Synchrony Bank Questions You Should Be Asking
Yes. It happened to us — the full story is above.
In our experience: an immediate credit-limit reduction. We paid $13,545.66 in full and Synchrony cut our limit from $15,000 to $100 the same day.
Be cautious if you're relying on that credit line for an ongoing project. After our full payoff, the limit was gone. This is our personal experience, not financial advice.
In our experience, no. Synchrony told us there was nothing they could do — no explanation, no appeal.
The promo itself worked as advertised for our home build. The problem was what happened after we paid it off — the credit line we relied on was cut to $100.
Payment Security is a debt cancellation program that costs $1.66 per $100 of your statement balance every month. On a $10,000 balance, that's $166/month. In our experience, we were enrolled in this program without our knowledge or consent. When we called Synchrony Bank to cancel, they told us we never actually signed for it — they said it was tied to a checkbox on the original credit card application. Despite confirming we never signed for it, they had been charging us for months and did not refund the charges. We strongly recommend checking your Lowe's credit card statements for Payment Security fees.
Don't Let This Happen to You
Share this so other homeowners and builders don't get blindsided the way we did.
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All figures, dates, and details presented on this website are provided to the best of our knowledge and recollection based on our account records and credit reports available to us at the time of writing. We have made every reasonable effort to be accurate, but we are individual consumers — not accountants or auditors — and minor inadvertent errors in recollection of specific figures or dates are possible and should not be construed as intentional misrepresentation. We are sharing our honest experience in good faith. If any detail is found to be inaccurate, it is an unintentional error and we will correct it promptly upon being notified. The substance and overall narrative of our experience is true and accurate.
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