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New Contributor
Posts: 83
Registered: ‎02-28-2013
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Considering a gas and/or Walmart card for credit building

I live right up from an Exxon and that seems to be the primary gas station around here, so I was considering applying, but I'm very recently out of Ch 7 (as of November).  I also buy my phone card once a month at Walmart and thought about applying there for a card, and using it only for my regular phone card amount and that's it.  Does anyone have any knowledge about the approval of said cards?  In my BK, I discharged JC Penny, Capital One, and First Premier (HSBC??).  I'm not sure what, if any, effect that would have. 

My TU FICO today was 641, though my FAKOs are much less.  My credit unions both gave me a 608 when they pulled my score through EQ, about a month ago, when I was setting up two secured loans and a secured credit card. That being said, I'm not sure where the tipping point is right now between what outside of paying these bills on time will be an enhancing factor or a hindrance.  Any insights?  (BTW, I am new to myFICO, so if I am posting something that belongs somewhere else, just let me know or (moderator) move my post!)  

This site seemed so cool as I keep Google-searching questions that end up being answered here.  Everyone seems very helpful and friendly, so  I figured I should join.  Smiley Happy 



Starting Score: TU 641 2/28/13 EQ 640 3/1/13
Current Score: TU663 EQ661
Goal Score: 750 750




New Contributor
Posts: 121
Registered: ‎02-26-2013
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Re: Considering a gas and/or Walmart card for credit building

I'd go for the Walmart, I think I've heard its good for credit building. The Exxon CC gives you 6 cents off per gallon and Exxon already charges like 10 cents more than other gas stations. The Exxon isn't a visa or anything and can only be used at Exxon stores.

The Walmart card saves 5 cents at their gas stations too. I thought they had some kind of promotion where you get 20 cents off for the first 90 days but I'm not sure where I saw that..I may have been mistaken.

 

I personally am gonna use my BCE for gas when Freedom doesn't have the 5% category.

TU: 730 (Lender Pull) ; EQ: 738 (MyFico)
Age:21
Barclay's Sallie Mae 5% Mastercard $1k(4/2013)- My main beach
Chase Freedom $3k (3/2013) - My side beach
Amex BCE $6k (3/2013) - When I feel like a boss
Crapital One Platinum $750 (2/2010) - When I feel like a n00b
Established Contributor
Posts: 955
Registered: ‎02-02-2013
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Re: Considering a gas and/or Walmart card for credit building


tatterz wrote:

I'd go for the Walmart, I think I've heard its good for credit building. The Exxon CC gives you 6 cents off per gallon and Exxon already charges like 10 cents more than other gas stations. The Exxon isn't a visa or anything and can only be used at Exxon stores.

The Walmart card saves 5 cents at their gas stations too. I thought they had some kind of promotion where you get 20 cents off for the first 90 days but I'm not sure where I saw that..I may have been mistaken.

 

I personally am gonna use my BCE for gas when Freedom doesn't have the 5% category.


+1 thats what I was thinking too.

 

Also to the OP, be very careful with gas cards.  They can get away from you easily.  Be sure to PIF each month.


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
New Contributor
Posts: 83
Registered: ‎02-28-2013
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Re: Considering a gas and/or Walmart card for credit building

Thanks, to you both.

 

I'm wondering, and maybe you might know...who backs up these cards?  I had once been under the impression that, other than a Visa or MC logo, a card was unique to the business whose name was printed on the front.  I'm reading posts now that say they were denied a card here because they had a BK or negative history on a specific card there.  So I'm wondering if where I had a recent BK which included JC Penny, Capital One and First Premier (which I think is HSBC) from whom might that also preclude me?

Thank you for your gentle warning about the gas card.  I'm really just interested in something that I can use minimally for things I'm already purchasing and that I can easily afford to pay off monthly. 



Starting Score: TU 641 2/28/13 EQ 640 3/1/13
Current Score: TU663 EQ661
Goal Score: 750 750




Established Contributor
Posts: 955
Registered: ‎02-02-2013
0

Re: Considering a gas and/or Walmart card for credit building

[ Edited ]

I believe Walmart is GE

Chevron is also GE

 

I am not sure who Exxon is.

 

Yes some issuers do maintain blacklists.  Amex for example.  When my wife added me they specifically asked if the AU she wanted to add had ever defaulted on an AMEX account.   I hadn't so I was all good.

 

I made a thread about blacklists awhile ago.  I will see if I can locate it and give a link here for ya.

 

EDIT FOR LINKY : http://ficoforums.myfico.com/t5/Credit-Cards/Blacklists/td-p/1888695

There may be other threads also on the subject of blacklists but I dunno.


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
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New Contributor
Posts: 83
Registered: ‎02-28-2013
0

Re: Considering a gas and/or Walmart card for credit building

You're too cool, my man!  Thanks, and thank you for that link!



Starting Score: TU 641 2/28/13 EQ 640 3/1/13
Current Score: TU663 EQ661
Goal Score: 750 750




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