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Walmart MasterCard

Valued Contributor

Re: Walmart MasterCard

does anyone see the irony that if you have a cap one qs you should never use the new sams mastercard inside sams club? I know to use it at sams gas but it just doesnt make any sense to me.

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
Message 31 of 42
Moderator Emeritus

Re: Walmart MasterCard

I got the message from them about switching to Synchrony.  No new accounts, no hit to AAoA.  They specifically say that there will not be an affect to Credit Scores.

 

 

  • Will the name change impact my credit score?

    No, the name change won’t impact your credit score. Your account number will stay the same, so you can continue using the card as you usually do.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 32 of 42
Established Contributor

Re: Walmart MasterCard


Shogun wrote:

I got the message from them about switching to Synchrony.  No new accounts, no hit to AAoA.  They specifically say that there will not be an affect to Credit Scores.

 

 

  • Will the name change impact my credit score?

    No, the name change won’t impact your credit score. Your account number will stay the same, so you can continue using the card as you usually do.


Is that why the card is switching to Mastercard? I wasn't aware that the Synchrony name change for all GECB cards had anything to do with this?

WM TransUnion- 650 (6/2014) Credit Sesame Experian- 691 (6/2014) Credit Karma TransUnion- 665 (6/2014)
Amex Zync/UNICORN- NPSL/Capital One Venture One Pro -$7,000/NFCU Cash Rewards- $7,500/NFCU NavChek- $5,000/SouthWest Airlines- $5,000/Capital One Quicksilver Platinum- $3,000/Wal-Mart Discover- $6,000/Bill Me Later- $2,200/JCP- $4,700/Discover IT- $500/Care Credit -$2,300/Old Navy Visa- $2,000/New York & Company - $1,000/Capital One -$800
GOALS: No new inqs until 10/30/14. Pay off debt consolidation loan in less than 1 year. Snowball debt payments.
Last HP: 3/5/14
Message 33 of 42
Moderator Emeritus

Re: Walmart MasterCard


chan85 wrote:

Shogun wrote:

I got the message from them about switching to Synchrony.  No new accounts, no hit to AAoA.  They specifically say that there will not be an affect to Credit Scores.

 

 

  • Will the name change impact my credit score?

    No, the name change won’t impact your credit score. Your account number will stay the same, so you can continue using the card as you usually do.


Is that why the card is switching to Mastercard? I wasn't aware that the Synchrony name change for all GECB cards had anything to do with this?


Actually there are a couple issues here.  First off, Discover is pulling the co-branding, so that's why the Discover is changing to MC.  Secondly, GECB is branching their banking into it's own entity, that's why it's to be Synchrony now.   We all know that when upgrading from the Walmart card to the Discover Walmart card, it was a new account and that hit the AAoA.  We were concerned about if it switches from Discover to MC that they would follow that same path.  However, they state they are not.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 34 of 42
Established Contributor

Re: Walmart MasterCard


Shogun wrote:

chan85 wrote:

Shogun wrote:

I got the message from them about switching to Synchrony.  No new accounts, no hit to AAoA.  They specifically say that there will not be an affect to Credit Scores.

 

 

  • Will the name change impact my credit score?

    No, the name change won’t impact your credit score. Your account number will stay the same, so you can continue using the card as you usually do.


Is that why the card is switching to Mastercard? I wasn't aware that the Synchrony name change for all GECB cards had anything to do with this?


Actually there are a couple issues here.  First off, Discover is pulling the co-branding, so that's why the Discover is changing to MC.  Secondly, GECB is branching their banking into it's own entity, that's why it's to be Synchrony now.   We all know that when upgrading from the Walmart card to the Discover Walmart card, it was a new account and that hit the AAoA.  We were concerned about if it switches from Discover to MC that they would follow that same path.  However, they state they are not.


I interpert that statement about the name change to mean no new accounts/AAoA impact because of the Synchrony name change only. The change to MC seems like a totally seperate issue that would warrant its own FAQ bullet point from them at some point. Is there something else that you have read that specifically addresses the co-branding?

WM TransUnion- 650 (6/2014) Credit Sesame Experian- 691 (6/2014) Credit Karma TransUnion- 665 (6/2014)
Amex Zync/UNICORN- NPSL/Capital One Venture One Pro -$7,000/NFCU Cash Rewards- $7,500/NFCU NavChek- $5,000/SouthWest Airlines- $5,000/Capital One Quicksilver Platinum- $3,000/Wal-Mart Discover- $6,000/Bill Me Later- $2,200/JCP- $4,700/Discover IT- $500/Care Credit -$2,300/Old Navy Visa- $2,000/New York & Company - $1,000/Capital One -$800
GOALS: No new inqs until 10/30/14. Pay off debt consolidation loan in less than 1 year. Snowball debt payments.
Last HP: 3/5/14
Message 35 of 42
Valued Contributor

Re: Walmart MasterCard

The name change from GEMB to GECRB to its new name shouldn't cause alarm for anyone - other banks have done this over the years, such as when MBNA became BoA/FIA. Or when Comenity became the new name for World Financial Network National Bank (WFNNB); the name changed on the existing accounts, retaining the same AAoA. We might see a hiccup from a credit monitoring service that sees the new name, but on the actual report/disclosure the old name will simply be replaced with the new. AAMOF, I had a Pier1 account that went through a few different hands after I closed it, and it currently says "Chase" on it. Smiley Happy

 

The situation with Capital One selling off the HSBC accounts is interesting, but in some cases may be beneficial since the "CITI" line on the report has the combind AAoA from the accounts original opening date.

 

The change from Discover to Mastercard is one we have yet to see how it will affect everyone. They could simply update the account number, much like renaming the bank name, in which case the AAoA at all. I have seen some lenders "close" one entry on the CR and then "open" another entry for even a lost or stolen credit card, which is one of the reasons I don't think the TD First Class Visa is truly "first class".

 

I was going to garden... Honest!
Message 36 of 42
New Contributor

Re: Walmart MasterCard

So are the walmart store cards converting to MC's as well or only the co-branded discover cards? Sorry, I may be out of the news on this one. Thanks for the info

Gardening spree went on hiatus but I think it paid off. Now back at it!
Building slowly but surely. Thank you to all members of this community for all the invaluable advice.
Latest that I know of: EX- 671, EQ- 653 TU- 648
Amex Green, Barclay Rewards MC, Cap1 Platinum, Cap1 Quicksilver, Credit One(closed!), WalMart, Amazon, DCU Platinum Visa, Jared Credit, Cap1 Spark business cash back, AMEX corporate Gold, Alliant CU Plat Visa, Suncoast FCU Plat Rewards Visa

Goals by end of January: Amex TE Costco, Amex BCE
Can it be done? It wasn't done by end of Jan, but it's still coming
Message 37 of 42
Moderator Emeritus

Re: Walmart MasterCard


Sunshinebiz wrote:

So are the walmart store cards converting to MC's as well or only the co-branded discover cards? Sorry, I may be out of the news on this one. Thanks for the info


The backer, GE is switching to Synchrony.  Their Discover cards are switching to Mastercards.  The store cards will still be store cards, just under Synchrony vs GECRB.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 38 of 42
Highlighted
Valued Contributor

Re: Walmart MasterCard

I just received notification of the change on my statement. It sounded like it would be a AAoA hit but not quite sure. Hopefully it isn't one.

As of 2017, rebuilding...
Message 39 of 42
Established Contributor

Re: Walmart MasterCard


maiden_girl wrote:

I just received notification of the change on my statement. It sounded like it would be a AAoA hit but not quite sure. Hopefully it isn't one.


Mine has already changed from GE to Synchrony on my CR. There was no impact at all.

AmEx Platinum | AmEx BCP | AmEx Delta Gold | CSP | Chase Freedom | NFCU cashRewards Visa Sig | NFCU Plat MC | WM MC | Discover it | JCP


Message 40 of 42