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Established Contributor
CreditCrusader
Posts: 799
Registered: ‎09-27-2011
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Re: Wal-Mart credit card closed?


boomhower wrote:

That just sucks, I wouldn't reapply just out of spite.  Two months is not inactivity.  Anything else going on in your credit file that could have spooked them?  It sure looks like they are just using this as an excuse. 


+1...it is a BS excuse Wally World is giving you. There is something else that has to be spooking them.

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Current Scores (lender): EQ 725 , EX FICO 720, TU 737 FICO scores>
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fedxboy
Posts: 295
Registered: ‎01-16-2012
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Re: Wal-Mart credit card closed?

I think when you post your question they way you do, you utlimately confuse other readers.  Like myself for instance.....When you say, they just closed it out of the blue and I have no idea why.

I don't think readers should have to go back into your previous posts to perhaps decipher what really could of happened.  

 

In one instance, you wrote that you charged 145 of a 150 credit line with Walmart, but then you paid it in full.  Also, you mentioned you had a 30 day late with Walmart.

Another instance, you claimed Citifinancial has recently reported +90 day lates as of May 2012 with this happening 11 times -- according to a snipet of your credit profile you posted.

 

I understand you're rebuliding your credit and you've been successful in getting many collections removed and now "new" lates are appearing.  Regardless of how you handled 1 creditor in the past, other creditors take into account your whole credit portfolio and can close you down or increase your interest based on a universal default -- meaning -- if you mess up with 1 creditor, it can create a domino affect.

 

Goodluck on your continued journey of rebuilding!

 

 

(10/6/2014) Walmart FICO 753, 8/20/14 Discover IT FICO 766
Established Contributor
CreditCrusader
Posts: 799
Registered: ‎09-27-2011
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Re: Wal-Mart credit card closed?


fedxboy wrote:

I think when you post your question they way you do, you utlimately confuse other readers.  Like myself for instance.....When you say, they just closed it out of the blue and I have no idea why.

I don't think readers should have to go back into your previous posts to perhaps decipher what really could of happened.  

 

In one instance, you wrote that you charged 145 of a 150 credit line with Walmart, but then you paid it in full.  Also, you mentioned you had a 30 day late with Walmart.

Another instance, you claimed Citifinancial has recently reported +90 day lates as of May 2012 with this happening 11 times -- according to a snipet of your credit profile you posted.

 

I understand you're rebuliding your credit and you've been successful in getting many collections removed and now "new" lates are appearing.  Regardless of how you handled 1 creditor in the past, other creditors take into account your whole credit portfolio and can close you down or increase your interest based on a universal default -- meaning -- if you mess up with 1 creditor, it can create a domino affect.

 

Goodluck on your continued journey of rebuilding!

 

 


Multiple late pays will definitely signal a creditor to pull the plug...particularly if one of those lates was with the creditor itself.

I'm Spartacus!

hr>Starting Score: EQ 546, EX 547, TU 580
Current Scores (lender): EQ 725 , EX FICO 720, TU 737 FICO scores>
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drkaje
Posts: 3,492
Registered: ‎07-25-2008
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Re: Wal-Mart credit card closed?

Just seems like something else must have sent up a red flag.

 

Probably haven't used my Skymiles in two years and Amex hasn't closed it.


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Regular Contributor
AutumnC74
Posts: 132
Registered: ‎03-28-2012
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Re: Wal-Mart credit card closed?

Sorry to have caused confusion but the ninety day lasted are actually from one charge off that has been paid in full and had already damaged my credit report. I didn't think until reading the posts on this that they would close it because of other issues on my credit report especially since there is no evidence that they have done even a soft pull. I've spoken with 4 people who say they have closed it due to inactivity. My FICO (tu08) was 542 six months ago, why not cancel then? Why wait until I've actively been addressing my issues and penalize me for paying in full?

Additionally, I have a voicemail from someone at the corporate office for GE Money Bank and will be calling them this a.m. I will post my results, good or bad online.

Starting Score: March 29, 2012 EX: 592, EQ: 549; TU: 557 - LENDER PULL
Current Score: June 2 2012 TU08 (walmart) 689, EX: ?, EQ: 649 (SW) TU: 679 (SW)
Goal Score: 720


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jordanmedical
Posts: 1,011
Registered: ‎04-08-2012
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Re: Wal-Mart credit card closed?

I see it all the time at chase, they wait til a customer pays in full and lower their credit line or close their acct for something wrong with their other credit cards.
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

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Regular Contributor
tammyjk
Posts: 161
Registered: ‎02-17-2011
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Re: Wal-Mart credit card closed?

Thanks for seeking out the truth!  I was getting a bit worried there.  I have a Walmart and pay down my balance each month, leaving a small amount.  I have had nothing but a good experience with this card I'm glad to see it was probably not an arbitrary move on their part. 

March 2011 FICO® ~ 595 TU, 605 EQ, 525 EX
Aug 2012 Lender pulls: 702 TU, 667 EQ, 660 EX
Regular Contributor
AutumnC74
Posts: 132
Registered: ‎03-28-2012
0

Re: Wal-Mart credit card closed?

[ Edited ]
I spoke with a representative of the GE Corporate office who says they discontinued my account solely because of no activity. I asked what their criteria was and they said it varied by account. They reported there was no other reason and I do not see a soft or hard pull on anything showing they have reviewed my credit. I suppose if I could do things differently I would leave a small balance each month just so it shows activity.

Starting Score: March 29, 2012 EX: 592, EQ: 549; TU: 557 - LENDER PULL
Current Score: June 2 2012 TU08 (walmart) 689, EX: ?, EQ: 649 (SW) TU: 679 (SW)
Goal Score: 720


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Valued Contributor
crunching_numbers
Posts: 1,093
Registered: ‎02-15-2012
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Re: Wal-Mart credit card closed?

I am going to guess that there must have been a period of time (like a year or something) with no activity. Maybe you used it once or twice recently, but there must have been a long gap of you not using it at all.  After the gap maybe you maxed it out. Closing your card if you were using it every month and paying in full for "inactivity" simply does not make sense. If you were using it all the time and you called the corporate number, they would have seen the charges every month and saw a lot of activity. I just don't get it. There is stuff you must be not telling us.


Starting Score: 693 TU FICO, 679 EQ FICO
Current Score: 748 TU(12/12), 783 TU98 , 813 TU08 FICO, 744 EQ FICO , 735 EX(9/12), 794 EX08 FICO, 809 EX08 bankcard FICO
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Established Contributor
Changingmantra
Posts: 676
Registered: ‎01-24-2008
0

Re: Wal-Mart credit card closed?

[ Edited ]

AutumnC74 wrote:
I spoke with a representative of the GE Corporate office who says they discontinued my account solely because of no activity. I asked what their criteria was and they said it varied by account. They reported there was no other reason and I do not see a soft or hard pull on anything showing they have reviewed my credit. I suppose if I could do things differently I would leave a small balance each month just so it shows activity.

GE - can be finicky- but it is not just them, it is the respective companies they are providing financing for.  Four years ago, when I first started rebuilding, I racked up on the GE cards, because they kept approving me: Lowes (had no reason for it), Chevron (haven't seen one of these gas stations in years), JCP, Walmart, Amazon, Paypal,.  Lowes was closed within 6 months for inactivity.  It was during the credit crunch, so I also received substantial CLDs on all but the Cheveron card, which only had $100 CL to begin with.

 

Interestingly, that Chevron card stayed opened for over three years, althoutgh I never used it.  There were many times when I wanted to close my other GE cards, especially PayPal - after I was down to $160 CLI for a long time.  Now, that account is at $3800 because GE is pretty generous with CLI - so long as the credit market is not bad, and you use the accounts and pay responsibly.  I should also say that until Sunday, I had not used my JCP card in almost a year - and they gave me $2000 CLI on it a few months ago.  Since then, I have been looking for a reason to use it.  I do not want to loose that CL.

 

I suggest  you get a couple of GE accounts.  I rely on then heavily to keep my untilization low.  I do not know if you want to apply for a Walmart now - or any other now, but at least consider it in 6 months or so.  I have a couple of major credit cards now, but I really do credit  GE with  having played a MAJOR part in helping me rebuild and in giving me higher CL, which I do think has influence the CL I have been offered by other CC sompanies.  GE were the only accounts I had with $3000 + CL - now all of my major CC (Barclay - Discover Closed Cap1 one yesterday.)  aslo have a minimum of $3000, Don't give up on GE.

 

*Note to self* Remember why and for how long you had to rebuild in the first place! One Day at a Time, One Day at a Time!

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