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Member
TwentyTwelve
Posts: 12
Registered: ‎06-27-2012

Should I come out of the garden for Walmart?

In Aug 2010 I was discharged BK. In October of 10  I got a 500$ rebuilder card from Cap1 that I used wisely only for travel or online purchases and PIF. In Feb 11, I bought a car through cap1 blank check financing. A few months ago I received a preapproved offer for Barclays rewards mastercard and I accepted it.

 

I was going to garden until February when the 2 car shopping inquiries fall off my report and my Barclays has aged over 6 months, and then I planned to app for WM. However, yesterday I received a preapproval offer from WM and I'm really tempted to go for it. I would love to take advantage of the 0% financing and the free TU score. I'm afraid of Barclays closing my account or not giving me the promised CLI at the end of 6 months. What would you do?

 

 

 

Cliffs:

Rebuilding credit

3 inquiries on report

2 cards (1 a Barclay <6 months old)

Should I app WM?

Frequent Contributor
obageegee
Posts: 268
Registered: ‎09-30-2012

Re: Should I come out of the garden for Walmart?

I say go ahead. If you get approved I would hit up 1 more GE card like Amazon or Lowes, but stop there.




Starting Score: 530 - 2/12
Current Score: EX - 720 EQ - 714 TU-690 WM-720
App free since 5/7/2014
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Should I come out of the garden for Walmart?

What's your Fico score buddie !??? AAOA ??


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Valued Member
Zanarov
Posts: 43
Registered: ‎10-02-2012

Re: Should I come out of the garden for Walmart?

[ Edited ]

I would wait...you dont really need the walmart card, and even the score isnt really that big of a deal. For rebuilding purposes somthing like CK provides access to your report and thats all you need.
You have a good setup with the 2 cards and 1 installment loan, just be patient. And let your score build.

Member
TwentyTwelve
Posts: 12
Registered: ‎06-27-2012

Re: Should I come out of the garden for Walmart?

[ Edited ]

My AAOA is 4 years and my score was 680 last time I checked.

 

 

Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Should I come out of the garden for Walmart?

wait a lil. Bit till your score close to 700 then apps for some CC that you really want.......Do them all at one so they all aged at the same time........

I will wait for a lil bit..........Just be patience.....


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Member
TwentyTwelve
Posts: 12
Registered: ‎06-27-2012

Re: Should I come out of the garden for Walmart?

I am signed up at CK, but I thought their score wasn't accurate? The site says they use TU info, but lots of ppl say the score is a FAKO. So is it really just as good as using the WM free TU check?

Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012

Re: Should I come out of the garden for Walmart?

[ Edited ]

The info from CK is fine and accurate (except their AAoA calculation) but the score is essentially worthless.  If it is inline with a FICO TU it's mere coincidence.  WM gives your TU08, MyFico.com Quarterly Monitoring gives you TU98, and many lenders use TU04.  The good news with apping for the WM card is it only hits you once for a HP from TU.  I doubt that would kill Barclay's, but who knows.

 

Does your credit mix need it?

Will is help your UTIL?

What is your AAoA and will this hurt it?

Are you applying for credit in the next 6 months for something other than a CC?

Do you intend on using any of the WM perks like Gas, 0% electronics, etc?

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Member
TwentyTwelve
Posts: 12
Registered: ‎06-27-2012

Re: Should I come out of the garden for Walmart?

I have often heard on these forums that having 3 cards is the best way to go. My utilization right now is 0 and I'm not planning on applying for any credit or other cards for a long time. I eventually want a couple of really prime cards, but I know that's at least 4 more years down the road because of the BK. I would possibly take advantage of the perks during the holidays, but it's not a sure thing.

 

 

Valued Contributor
Repo-ed
Posts: 2,953
Registered: ‎02-09-2012

Re: Should I come out of the garden for Walmart?

go for it if you are not trying for house or car within the next 6mo.

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