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Valued Member
ednajen
Posts: 55
Registered: ‎12-16-2010

Walmart Credit Decrease

[ Edited ]

Hey Guys.....

 

Back in April I couldn't pay my Walmart bill in time due to being a broke college student.  As a result, Walmart lowered my credit limit down to my balance of $130 (I had $800).  I didn't complain just paid the balance with some graduation money the next month.  I figured I could always request in increase when I'm in a better position.

 

In October, after looking at my TU Fico score provided by Walmart (675), I decided to call in for an increase. I asked for the same credit limit I had before and I was instantly denied.  I find it strange that I was not approved for the increase.  I've had the card for more than three years and I have never been late other than that time.  It wasn't a 30 day late.  Also, my financial situation is 3x better than when i first applied for the card.  When I first applied for the card I had maybe 4 medical collections, high utilization, no substantial income, and my scores weren't even in the 600s. 

 

They sent me a letter showing I had negative credit history.  They stated things that were on my credit report since before I even had the card, things that are much older now.  The score they sent (612) didn't match up to what's on myFico or their website but still better than before.  To make matters worse I've been approved for better cards such as the Discover More and Amex Zync.  I don't want to close the account due to age and I don't want to take another inquiry...any advice on what I could do? Should I just say forget it and leave it alone and hope by next year they increase?   It's almost insulting compared to my other lines...:smileysad:

Go to cards: Amex BCE , CSP, Discover IT, Amex Gold NPSL
Established Contributor
Smug
Posts: 960
Registered: ‎12-21-2010

Re: Walmart Credit Decrease

Could your credit file has split? Mine did that a few years back and brought some oldies back from the grave.
Experian® 777/Equifax® 655/TransUnion® 770
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $111,190.00
Goal 780!
Valued Member
ednajen
Posts: 55
Registered: ‎12-16-2010

Re: Walmart Credit Decrease

I don't think so because I got approved for the Discover More after the request.  Also, I pulled my credit report everything has been improved.  The letter that was sent is using the older negative stuff that still remains on my credit report. It was much worse when I first applied...

Go to cards: Amex BCE , CSP, Discover IT, Amex Gold NPSL
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012

Re: Walmart Credit Decrease

You need to call into a underwriting and have them pull a fresh SP. the system you went through uses a soft pull that is usually months old. I had this happen to me back in july and was denied a cli bc they were going off a SP that was 3months old and ALOT had changed since then. I called U/W and they pulled a fresh one and i got a huge cli.


Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: Walmart Credit Decrease

+1

Senior Contributor
youngandcreditwrthy
Posts: 6,137
Registered: ‎08-16-2012

Re: Walmart Credit Decrease

Yeah... Calll uw. I HATE that most creditors have began basing clis off of old sps. It prob cause they have to pay for the reports like we do. Oh well, last time I called uw for Wmt, I got a $5k cli. Good luck!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k | Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
sccredit
Posts: 770
Registered: ‎09-14-2012

Re: Walmart Credit Decrease


ednajen wrote:

 

Back in April I couldn't pay my Walmart bill in time due to being a broke college student.   

 

I find it strange that I was not approved for the increase.   


 

I would say call UW but I believe you answered your own question.  I am sure that part if the equation is your payment history.

Mortgage $299k/$310k
Autos Loans $49.5k/$60k
Unsecured Lines $157.2k

Discover FICO 732
DCU FICO 718

Valued Contributor
rootpooty
Posts: 1,690
Registered: ‎10-28-2011

Re: Walmart Credit Decrease

+1
NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
Valued Member
ednajen
Posts: 55
Registered: ‎12-16-2010

Re: Walmart Credit Decrease

Thanks! I didn't know about the SP request so I'm glad I asked. Now I have some type of direction when I call.  I figured they would try to do another HP. I appreciate the info.  Thanks to everyone that responded. I'll call today and keep tehe thread posted.

Go to cards: Amex BCE , CSP, Discover IT, Amex Gold NPSL
Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,171
Registered: ‎10-02-2012

Re: Walmart Credit Decrease

My mom had no activity on her JCP card for about 3 years and when she did a purchase they automatically booster her CL back to $1k. Also my sister couldn t make her payment to Old Navy card so she made the payment 10 days before the 30 days. and they did nothing with her CL they even doubled her CL the next statment. I mean GE is aloso the bank of the wal mart credit card so there shouldnt be any CLD with you being late on a payment. Maybe you should explain your story almost like a recon. Good luck ! :smileyhappy:


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