06-13-2012 08:29 PM - edited 06-15-2012 11:31 PM
I just logged on to check for the Walmart FICO's I noticed were up, and the CONGRATS screen came up. I really hate the idea of losing the time history of my Store card. Anyone ever have any luck keeping their original history\ open date?
Well I decided to accept the offer. Hope it wasn't a mistake... My CL on the store card was 2300, the new Walmart Discover.. CL of 2000....
I'm not sure how to look at that, I feel like I got upgraded and AA'd at the same time
06-13-2012 08:50 PM
No, and I will tell you that I took a hit for new card and lost around 10 points in the FICOs from that "upgrade". BUT I'm still glad I did it, my limit went from $1600 to $3500 at my 4 months CLI.
06-13-2012 08:53 PM
How much time passed before your store cards were upgraded to the Discover?
06-13-2012 09:00 PM
2 years for me. But I don't think that's the case anymore. They just started upgrading people a lot more around the end of last year and seem to still be doing it. Seems mainly people around 700 ficos and over 1,000 on the store cards. Just seems to be the case for most.
06-13-2012 09:03 PM
06-13-2012 10:11 PM
I thought the Walmart credit card was a TU pull only ? They pulled my experian. Seems everyone pulls experian nowadays.
Nah, they pull from all three and have for more than a year. Experian seems to be the lowest of the three according to various databases: TU > EQ > EX for pull frequency.
Could be worse, I have lived in Cali for the last 7 years, virtually EVERYONE pulls EX for me unless I specifically go out of my way for a lender which doesn't.
06-14-2012 05:53 AM
The upgrade from Walmart store card to Walmart Discover requires a new TL, but it's still worth it. You can use the card anywhere instead of just at Walmart, which makes it easier to keep active. You get a small amount of cashback when you use it (0.25%, not much but it's better than nothing.) Also, the CLs have the potential to grow much, much bigger than you can ever get with the store card. And you still get the special 0% financing options and the free TU score every month. For me, it was worth taking the hit on my AAoA.
06-14-2012 06:36 AM
Thanks Lithium78 (and everyone that responded of course);
All good points! You know I've searched the forum for info about the upgrade, I'm not the first person to ask the question LOL or be hesitant
I have to admit I'd feel a bit better about taking the offer if my AMEX Blue was already reporting and wasn't barely a month old (although backdated). I'd like to think AMEX wouldn't AA me for a PC that resulted in a new account showing.
I did run the AAoA info on the spreadsheet and found I'd lose 2 months at most (it seems) if I take it. So at least that isn't much of a concern now. Of course we know it's AMEX magic that's helping with that worry, along with 17 TLs showing. Part of why I'm concerned AMEX could flake and yank the rug, so to speak.
I've read a lot of people taking the offer have often gotten a CLI with it. I doubt I'd get much of a CLI with the upgrade being they just gave me 800 on it recently.
And of course I've got my eye on AMEX's Costco TE card in the future, they're talking about adding a Costco in an area I frequent. That would add another 23 years if it was backdated at that point, IF of course AMEX doesn't "flake out" on me
I'm about 90% sure I'm gonna take the upgrade and maybe just deal with the nail biting
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.