04-13-2011 09:22 AM
I have had my Wal Mart store card for a couple of years now. So far, every 4 months I have gotten a CLI upon request. It has been like clockwork. I have just reached the 4 month mark from my last CLI, so I tried again and got denied. I thought maybe I tried a little too early because they require at least 4 months in between CLIs. However, once I got the rejection letter in the mail, it stated that the reason for the denial was "number of times paying more than the minimum amount due".
Apparently, they frown upon only paying the minimum due each month.
04-13-2011 01:43 PM
Most of the time, my UTIL was very close to 100%. In fact, I went over the limit one time since the credit for a retuned item took longer to post than I thought. I made a payment that was just enough to bring me back below the limit and applied for a CLI as soon as that payment cleared and I got it.
This last time, however, my UTIL was only around 85%. I have not really used the card in the past couple of months, so even my minimum monthly payment has actually been bringing my balance down a little. The only reason I even asked for a CLI was to try to continue improving my overall UTIL--I don't plan to use the Wal Mart card anymore (or any of my CC's, for that matter) except for an emergency so that I can start bringing my balances down (current overall revolving UTIL is currently 53%).
04-13-2011 01:59 PM
Yep, that's the best way to improve utilization for the good of your account, report, and score.
I've typed this before about making a small purchase around $5, then get a Cash Advance up the the maximum amount allowed and walk directly over to Guest Services or the Kiosk Payment machine and pay the money right back. Since cash advances on the Walmart card are considered purchases without any additional fees, you're showing monthly usage without really spending money. After once or twice a month before your Statement End date, if course, you will look good in the eyes of Walmart.
I've seen siblings get increase after increase every 4th month as you've stated, but still going and going...
04-13-2011 02:14 PM
I got denied too. Always PIF - fine history with them. They must be tightening the purse strings.
Sock drawer!! I'm using them as an experiment to see how long it takes from time in sock drawer (date of last activity) to closure. One of those cards I seriously regret opening.
Don't get one--for anyone considering it.
04-13-2011 03:02 PM
I tried to get a CLI on my JCP (which is at 1800 for about 4 months now) and was declined for strange reasons (got the letter yda).
1. Oldest account opened recently (My oldest account is 16 mo)
2. No instalment loans
It mentioned TU as the CB (though I don't see an HP on my TU file)
I feel they are probably tightening up the CLI and the real reason for my CLI decline was that I did not use the card any after the last CLI. They are just writing bs as reason
04-13-2011 03:17 PM
walmarts cli start at 6 months but the first one tends to be the biggest cli you will ever get from them. then i believe its 4 months after that
04-13-2011 09:37 PM
Oddly enough, I've never even seen a soft pull from GEMB relating to my Walmart card...
Maybe that's why I'm still stuck in toy card **** with them. My score went up 150+ points since opening that card in '07.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.