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Help with GEMB Walmart card issue?

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jon_d
Established Member

Help with GEMB Walmart card issue?

I got a Walmart store card last month,love it and its a card we actually wanted(not the Discover). The problem is the payment I sent is being reported as "monthly payment" $25 on all 3 credit reports as if it was an installment loan and it was included in debt ratio. I always run a short payment when getting a new card to check out the payment system and then payoff the balance. Am I missing something here? None of my other cards are listed like this. I'm confused,any help would greatly appreciated.
Message 1 of 8
7 REPLIES 7
llecs
Moderator Emeritus

Re: Help with GEMB Walmart card issue?


@jon_d wrote:
I got a Walmart store card last month,love it and its a card we actually wanted(not the Discover). The problem is the payment I sent is being reported as "monthly payment" $25 on all 3 credit reports as if it was an installment loan and it was included in debt ratio. I always run a short payment when getting a new card to check out the payment system and then payoff the balance. Am I missing something here? None of my other cards are listed like this. I'm confused,any help would greatly appreciated.

My DW also has the store card. Be sure to ask for a CLI every 3-4 payments or so.

 

Based on what you posted, it is reporting OK. Every report format is different, but GEMB/WalMart (and almost every card) reports a minimum amount due. CCT (if you use it) reports that in a field called "Monthly Payment" and FICO reports it as "scheduled monthly payment" or something like that. And this card is a revolving card so it should be factored in your util anyway. If you pull your FICO report, you should see it as a store charge card or revolving account. No if I misunderstood and it is reporting a balance when you know you PIF, then that could be due to the timing. This card will report the balance you had on the statement date. If it is reporting $25, then check to see if your min. payment on your statement is $25.

Message 2 of 8
jon_d
Established Member

Re: Help with GEMB Walmart card issue?

Thanks so much llecs! Sheeeeeeeeew! I'm wipe'n the sweat off my brow now lol. I was in panic mode thinking if I payed the balance off after seeing the monthly payment thing it would show $200 as a monthly payment.. So if I understand right it will only show the minimum payment due in the"monthly payment"line? And this is typical reporting from GEMB Walmart and some banks?
Message 3 of 8
RUSTY101
Regular Contributor

Re: Help with GEMB Walmart card issue?

The min payment is whats on my DH and sons. By the way, my son just got his card about 4 months ago. Started at 300 and this week he got an auto up to 700. I think it is because he used it alot and took about 3 mo to pay off. They like you to use it alot.

Message 4 of 8
Smug
Established Contributor

Re: Help with GEMB Walmart card issue?

My 4month old card. Went from 300 to 800 this month.
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Message 5 of 8
jon_d
Established Member

Re: Help with GEMB Walmart card issue?

We have a super Walmart close to us.It's getting to the point we do about at least 40% of our shopping there,no kidding. We shop then eat at the inside restaurant,then shop more lol. I'm not a cheapo lol ,but they have a lot of good deals. I'd welcome a CLI right now.
Message 6 of 8
Anonymous
Not applicable

Re: Help with GEMB Walmart card issue?

What kind of scores are ideal to get a walmart card?
Message 7 of 8
nyqutie
New Contributor

Re: Help with GEMB Walmart card issue?

I'm not sure the ideal scores to get a card, but what I heard its pretty easy to get with middle of the road scores.  


I just got my Walmart Card and they pulled my TU report and my credit score was 657 they also gave me a credit line of $1400.00.

 

I thought for sure they would pull EQ since my score was 100 points more literally, but checked reports hard pull on TU.


Starting Score: TU 450 EQ 491 (06 2010) Current Score: TU 746 EQ 747 EX 629 (Public Record "not" Mine can't get this darn thing OFF) (06 2013) Goal Score: TU 800 EQ 800 EX 700
Message 8 of 8
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