I was recently approved for a Walmart Synchrony master card (~800$ CL). Afterward, I read hundreds of complains by several users that messed up the credit scores of the customers.
I cannot verify complains or comments because I have not used the credit card but since my credit age is a bit young (<4y), I need to keep my credit score healthy. Please inform the best suggestion for this credit card that has not activated yet. Some suggestions:
- Cancel it before activation (this account is alreay reported on my credit reports).
- Do not activate. Let it to be closed after a few months (does it damage credit score? How long does it take for the credit score to heal?).
- Activate it. Don’t use it and let it to be closed after a few months.
- Request a CL decrease to a very small value such as ~30$ to minimize possible un-authorizated payment damages. Use it for ~2$ monthly purchases to keep it active and pay in time. Monitor all the time the CL level, on-time reports to credit bureaus and all the possible aspects. If something goes wrong, pay it full and cancel it.
- Use it normally below ~20$ each month and pay it full each month. Monitor it regularly and if something goes wrong within a month and cannot be solved, cancel the card.
- Other suggestions are welcome.
Fico8: EX~EQ~TU~810 (12 month goal~840).
Hundreds of complaints vs thousands of satisfied card holders. Hmm, Wally MC is good in that you can use anywhere, its Sync so it can grow big time. Just use it and pay, and good things will happen .for everybad story out there, there will be like 10 good ones. You can probably find any csrd and they will have negative but if you use the car as intended more likely than not it will hrlp your profile grow
@AverageJoesCredit wrote:
Hundreds of complaints vs thousands of satisfied card holders. Hmm, Wally MC is good in that you can use anywhere, its Sync so it can grow big time. Just use it and pay, and good things will happen .for everybad story out there, there will be like 10 good ones. You can probably find any csrd and they will have negative but if you use the car as intended more likely than not it will hrlp your profile grow
+1
The card seems to be working properly and it is reporting properly to the credit bureaus. The payments should be done via the Walmart website platform instead of Synchrony and I think it is a good point. I would use it actively and carefully.
I previously had a Synchrony Amazon store card that the bank closed it without prior warning (sometimes, it was not straightforward to do the online payments properly, I never understood whether it is a problem of Synchrnony bank or my associated bank account for the payments, this was ~2-3 years ago but not recently). So, the bank closed it after a few months and without any negative remarks in the credit reports (ontime payments and never delayed).
Lol. The card was declined right in the first use at Walmart store and therefore, I could not use the signup bonus. The Walmart payment in the store required PIN code but not signature. This should be the case for Debit but not credit cards and I have not seen it in the past 10 years in various countries. I have not set its PIN before or I forgot it and therefore, it did not work. After spending half an hour with two Walmart agents, finaly I decided to pay with my AMEX card.
The card works fine in restaurants like other cards and it seems that it only does not work properly in Walmart stores.
Also, for every basic matters like address change, it is needed to contact the customer service by phone. This is my 4th time that I need to spend lots of time to call the customer service for various matters associted to this credit card. This was not the case for any other credit cards.
I decided to use my other cards in Walmart and even pay by cash instead of using this card. Anyway, I use it just to be active for small online or shop payments one time per month and I think, if this card can handle this basic work (<5$ per month), it is much appreciated.
AMEX does not recognize Walmart as a grocery store (1% cashback). Chase freedom unlimited might be a good one to shop from Walmart (1.5%) or other cards yielding 2% cashback.