Walmart upgrade question

[Juss11]

So I loged into my walmart account to make a payment. I got the Congradulations, you have been selected for the upgrade to the walmart/discover card. My question is, will this show up on my credit report as a new account & lower my AAOA? I have had my wakmart account for about 3 years.

Thanks

Justin

[09Lexie]

There's been several posts this week about Walmart's upgrade. Yes, it will report as a new TL

http://ficoforums.myfico.com/t5/Credit-Cards/Walmart-upgrade/m-p/2792695#M796487

[BarryNTexas]

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@Juss11 wrote:

So I loged into my walmart account to make a payment. I got the Congradulations, you have been selected for the upgrade to the walmart/discover card. My question is, will this show up on my credit report as a new account & lower my AAOA? I have had my wakmart account for about 3 years.

Thanks

Justin

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My understanding is this:

AAOA - will not affect as it will backdate to the original WalMart GE card opened date. (Good!)

Old Account - will be closed and this will appear in it's place - and your good history is still reporting.

Go for it!  I love the fact we have increased credit limits that will lower my overall UTIL as well as another card that is not obligated for use at WalMart only.

-Barry

[Juss11]

Thanks for the link. I seen it awile back, but could not find it. Not sure if I want to take it or not. Ive gotten 2 new CC in the last month!

[Creditaddict]

Id take it because of the increased CL and availability of use elsewhere!

[Revelate]

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@Creditaddict wrote:

Id take it because of the increased CL and availability of use elsewhere!

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Why would you use it anywhere else though?  New tradeline for no real benefit assuming people have already taken the entry level rewards cards by this point which they objectively should have by the time this sort of offer is made and the store card is just fine for reaching absurd CL's on.

I'll never upgrade my own Wally store card, probably by the time it happens I won't even be at 1% default spending anymore and nobody with a newer file than I should be (*cough* Cap One Quicksilver).  Why lose 1% or more?

[Juss11]

I dont think I really need it. Not for a new TL to report. I have Freedom 6k, Slate 3k, Barclyas Visa 4k Barclays Mastercard 2k, Citi Simplicity 2K & Discover It 2k. My walmart card is 2k also. Lord I have too many cards. I just closed 3 cap ones & a credit one.

[Juss11]

Ok so I went ahead and took the offer. It said my aproved CL was $2000 but my walmart CL it $2400. I just checked shows both cards. Will they move the CL from the walmart card to the new card to make my CL $4400 or will it get lowed to just 2k? If thats the case im not going to take it.

[gdale6]

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@Juss11 wrote:

Ok so I went ahead and took the offer. It said my aproved CL was $2000 but my walmart CL it $2400. I just checked shows both cards. Will they move the CL from the walmart card to the new card to make my CL $4400 or will it get lowed to just 2k? If thats the case im not going to take it.

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Nope you will lose CL if you activate the WM Discover. Just cut it up and toss it when it comes without activating it and it will auto cancel after 60 days.

[ecxpa]

I didn't get an offer to upgrade to the Walmart Discover or Sam's Club Discover I just applied and was issued both of them.  No rhyme or reason other than I love credit cards, but I have both the Walmart and Sams Club cards and the Discover version of each.  Both cards still work, so they didn't cancel my "store cards" these cards have helped by utilization.  I'm now running around 8%.