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Walmart CL decrease after 5 days late payment

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pat0812
Regular Contributor

Walmart CL decrease after 5 days late payment

I have over 12 credit cards with a total of CL of $125,000 and never had any late payments or baddies on my credit report
I was on vacation for 2 weeks and forgot to pay my walmart credit card.
I noticed it today when I got my statement in the email, my due date was on 6/27, last week and paid it immediately today and even the automatic system offered me to remove the late fee because it was my first time I was late
After further researching I paid attention that they reduced my CL from $10,000 to $5,700 (balance is $5000, so now I'm almost at full usage)

This really got me mad because I find it kind of harsh to punish me for being late first time and it's not even 4 business days.
Is this normal with Walmart? Any chance this decision can be overturned? Customer service can't do anything they say
If I was late less than 30 days this wont be reported on my credit report right? Or will it be reported late this month with current statement and next month shows up as OK ?

I have good credit scores, about 20% uti
FICO 8's EX 770 EQ 751 TU 771 (1/16/17)
Amex Gold Premier rewards ( Charge Card)
Amex Blue cash - $47,800 Wells Fargo - $15,000 Citibank Simplicity - $13,800 Barclays Apple - $13,000 Walmart Mastercard - $8000 Chase Slate - $7,200 Discover It - $5,500 Capital One - $5,250
Message 1 of 5
4 REPLIES 4
SunriseEarth
Moderator Emeritus

Re: Walmart CL decrease after 5 days late payment

My only suggestion regarding the CLD is to try calling Credit Solutions and seeing if they are willing to give a CLI.   It may not be likely, but it could be worth a shot.

For the future, I recommend setting up auto-pay, or at least schedule your payments ahead of time, so you don't forget it.  Also, are you using the Walmart MC for special financing?  With the interest rates they have for standard purchases, I certainly hope so.



Start: 619 (TU08, 9/2013) | Current: 809 (TU08, 3/05/24)
BofA CCR WMC $75000 | AMEX Cash Magnet $64000 | Discover IT $46000 | Disney Premier VS $43600 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Synchrony Premier $24,200 | Sony Card VS $23750 | GS Apple Card WEMC $22000 | WF Active Cash VS $18,000 | Jared Gold Card $16000 | FNBO Evergreen VS $15000 | Citi Custom Cash MC $14600 | Target MC $14500 | BMO Harris Cash Back MC $14000 | Amazon VS $12000 | Freedom Flex WEMC $10000 | Belk MC $10000 | Wayfair MC $4500 ~~
Message 2 of 5
rmduhon
Valued Contributor

Re: Walmart CL decrease after 5 days late payment

4 days late isn't reportable. I understand your frustration and hopefully you can get the credit line restored. But looking at it from Synchrony's point of view this may be the first time you've been late on a payment but they can't tell if you'll run the balance up then default on the account. They are trying to minimize that risk.
Message 3 of 5
pip3man
Valued Contributor

Re: Walmart CL decrease after 5 days late payment

My only concern here is that you have a balance of $5000 on a Walmart card and if memory serves me right, the APR on them are usually astronomical. Unless your taking advantage of a special 0% financing offer, you NEED to get rid of that balance ASAP! If u can't PIF just balance transfer to a lower/zero rate card. As far as restoring your previous limit u can certainly attempt to hit up Credit Solutions but in the grand scheme of things, only time will bring u back to where u was limit wise. I honestly doubt they'll be willing to approve any increase at this point when u were just delinquent.

Message 4 of 5
AverageJoesCredit
Legendary Contributor

Re: Walmart CL decrease after 5 days late payment

It looks like they are gonna start balance chasing you so its possible they may continue to reduce limit. Be awareSmiley Happy
Message 5 of 5
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