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Walmart Credit Card. =(

Valued Member

Walmart Credit Card. =(

So I've been fixing my credit for the last two months and I decided I needed a new credit card to continue to build credit. I finally decided to apply for the Walmart credit card, mostly because I read that it's easier to get approved and because they give you your TU FICO monthly. I was hoping to get the Walmart Discover with at least $1K CL. I now feel insulted because they instantly approved me for the WM Card (not Discover) with $150 CL. Really $150? They should have just denied me.

I currently have a Cap1 Secured with $500 CL, one WFargo card that was closed four years ago PIF and no lates. My baddies are 2 Collections w/ $700 total, and a 5 year old paid charge off on an auto loan.

I feel like calling them and telling them to not even send me the card and closing the account. Should I? Or do I keep it and hope they increase my CL?


Starting Scores:
EQ FICO 648 - TU08 598 - EX FAKO 544 (1/2012)
Current Scores: EQ 703 - TU 767 - EX 750
In My Wallet: AMEX BCE ($22.5K), Discover It ($10K), USAA World MC ($9K), Chase Freedom ($8K), Fidelity Rewards ($5K), Citi Double Cash ($4.5K) Walmart ($4.5K),
Message 1 of 16
15 REPLIES
Frequent Contributor

Re: Walmart Credit Card. =(

I got the same deal. Two revolving account for $7500 elsewhere, but walmart gives me $150. 

 

From what I hear, that $150 card can before a $20,000 card. I am told to request a CLI after every 4th statement has been paid.

 

Unfcortunately, the wal-mart store card never "graduates" into a discover. Apparently you may eventually recieve a discover offer or you may reapply if you want to switch. But then you have to open a new account and close the other one.

Message 2 of 16
Frequent Contributor

Re: Walmart Credit Card. =(

No, don't close the account and don't decline the offer!

This card (probably, similar to all other GE-backed cards) has a tremendous growth potential!

Mine has grown from $300 to $2000 in around 7 months; the first CLI I got was already after my 2nd or 3rd statement and it was 4x CLI! (from $300 to $1200). 

 

Treat it properly, show them some light usage and don't forget to ask for CLI every 4 months. There are people here who have grown their cards from $300-ish CLs to $5000 in less than a year.

 

Good luck and congrats!

In my wallet now: Amex PRG NPSL, Amex BCE $15k $17k (thanks to recent CLI), Chase Freedom 11k, CSP $6k, Chase United ME $5k, Citi Dividend $5.6k, Discover It $4.5k and a handful of other cards...
TU Dec 2013 - 752Sep 2013 - 764 - new all time maximum

Obsolete data &colonSmiley Wink Current TU - probably around ~750. I am now applying only for cards I can have fat sign-up bonuses on, repay them right away and close before next year. That's why BKLSBNKDELAWARE probably blacklisted me long ago, LOL...
Message 3 of 16
Established Contributor

Re: Walmart Credit Card. =(


ficojoe wrote:

Unfcortunately, the wal-mart store card never "graduates" into a discover. Apparently you may eventually recieve a discover offer or you may reapply if you want to switch. But then you have to open a new account and close the other one.


The Walmart store card DOES graduate into a Walmart Discover.  They do close your old account, though, so you take a hit on AAoA for a new account.  However, you do not need to reapply to get it, so there is no hard pull for it.  Walmart offers upgrades automatically.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

Take the FICO Fitness Challenge
Message 4 of 16
Valued Contributor

Re: Walmart Credit Card. =(

patience...  in 4 months you will probably get a CLI, and then evey 4 months after that. To get the discover version of the card first you probably needed a 740 or better, at 616 you were on the low side of there approval range. The card grows with you, all you need to do is use it and ask for CLI's, in 9 months I grew mine from 600 to 1700. My GE Amazon card has gone from $600 to $2500 in 16 months. 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 5 of 16
Frequent Contributor

Re: Walmart Credit Card. =(

Getting CLI's from WalMart with SP's is easy enough. It's like clockwork as long as you use the card and PIF.


myFICO Starting Scores: TU 643 03.10.09 EX 676 01.09.09 EQ 638 05.24.09
Current Score: (WalMart FICO) TU 792 04.03.13 (Mortgage Lender - HP) EX 745 02.06.13 (Mortgage Lender - HP) EQ 771 02.06.13
Goal Score: 800+


Take the FICO Fitness Challenge
Message 6 of 16
Valued Contributor

Re: Walmart Credit Card. =(

you don't need to PIF, its okay to leave a 10-30% of the CL on the card and still get CLI's. I do it all the time on my GE amazon card 6months 0 interest rocks!. 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 7 of 16
Senior Contributor

Re: Walmart Credit Card. =(

I'd keep it! You can prob increase the limit to $1k+ within 6 months and eventually be offered the Discover upgrade!:-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 8 of 16
Valued Member

Re: Walmart Credit Card. =(

Thanks everyone. I guess I'll keep the card and request CLI every 4 months. Will it go into my credit report as a Credit Card or a Store Card?


Starting Scores:
EQ FICO 648 - TU08 598 - EX FAKO 544 (1/2012)
Current Scores: EQ 703 - TU 767 - EX 750
In My Wallet: AMEX BCE ($22.5K), Discover It ($10K), USAA World MC ($9K), Chase Freedom ($8K), Fidelity Rewards ($5K), Citi Double Cash ($4.5K) Walmart ($4.5K),
Message 9 of 16
Contributor

Re: Walmart Credit Card. =(

Just as a point of info, mine has grown from $300 to $1600 over six years, so not everyone grows super-fast, but growth is likely.

Message 10 of 16