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Walmart upgrade: take it or wait?

Valued Member

Walmart upgrade: take it or wait?

I logged into my WM account online and received the Discover card upgrade offer. I opened Citi Forward and Chase Southwest accounts in May. I am told WM will close the current card and issue a new account number, which will show up as a new account on my credit report.

I also have a BoA and Citi Dividend card, one which is 2.5 yrs old and the other, a little under 2 yrs. I have a few store cards between 2 and 3 yrs old.

Should I hold off on the WM upgrade, so as not to spoof my other creditors?

FYI...
In the last 12 months, I have had the following number of inquiries:
TU: 1
EX: 2
EQ: 2

Thanks in advance for your input.

Starting Score: 10-2011 TU-08 FICO 725 (Walmart) / EQ FICO 683 (MyFICO)
Current Score: 10-2015 TU 780 / EQ 802 / EX 784 [Mortgage app]
Message 1 of 11
10 REPLIES
Moderator Emeritus

Re: Walmart upgrade: take it or wait?

You should do it and let them all age together. Otherwise; you can just keep the store card version.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 2 of 11
Regular Contributor

Re: Walmart upgrade: take it or wait?

I did it. None of my other creditors cared. Besides it shows up on your report as a new account yes, but it also shows the old one as "closed/paid" any credit analyst will know that it was an upgrade. I say do it, plus you will probably get an auto-CLI. 

Trans Union Fico (Walmart) ,690 Experian Fico (Amex) 686(Opened 3 new accounts this month. In the Garden)


AMEX BCE ($19,500) AMEX PRG -(NPSL), BARCLAYS US AIR PREMIER WORLD ($10,000), BOA CASH REWARD -($6,000), CITI HILTON RESERVE SIGGY-(5,000), WALMART DISCOVER ( $5,800), CITI DIAMOND ($4,700), CITI DIVIDED WORLD ($4,500), AMAZON STORE($5,000), NORDSTROM VISA SIG($5,000), PAYPAL STORE ($4,000) Amex Delta Gold ($2000)
Message 3 of 11
Senior Contributor

Re: Walmart upgrade: take it or wait?

Congrats! I'm hoping they'll give me an upgrade later this year, when my card turns 1 year. I would go for it if I were you, if you forsee yourself using the card. Your aging will take a slight ding, but you'll recoup any loss in FICO in a short time.

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 4 of 11
Valued Member

Re: Walmart upgrade: take it or wait?

Thanks for all of the replies.

 

I bit the bullet and accepted the upgrade offer. My CL went from $1300 to $3500.

 

Pleasant surprise!

 

I'm in the garden now, having opened 3 new cards this year.


Starting Score: 10-2011 TU-08 FICO 725 (Walmart) / EQ FICO 683 (MyFICO)
Current Score: 10-2015 TU 780 / EQ 802 / EX 784 [Mortgage app]
Message 5 of 11
Regular Contributor

Re: Walmart upgrade: take it or wait?

How long have you had the Walmart store card?
Message 6 of 11
Valued Member

Re: Walmart upgrade: take it or wait?

Almost 3 years. Keep in mind, though, that I had a Chapter 7 bankruptcy that just fell off my credit reports this May.

 

 


Starting Score: 10-2011 TU-08 FICO 725 (Walmart) / EQ FICO 683 (MyFICO)
Current Score: 10-2015 TU 780 / EQ 802 / EX 784 [Mortgage app]
Message 7 of 11
Mega Contributor

Re: Walmart upgrade: take it or wait?

3 yrs for an upgrade offer, I hope they don't make me wait that long! Smiley Sad



EQ FICO 548 3/3/16
Message 8 of 11
Regular Contributor

Re: Walmart upgrade: take it or wait?

great! You'll be glad you did!

Trans Union Fico (Walmart) ,690 Experian Fico (Amex) 686(Opened 3 new accounts this month. In the Garden)


AMEX BCE ($19,500) AMEX PRG -(NPSL), BARCLAYS US AIR PREMIER WORLD ($10,000), BOA CASH REWARD -($6,000), CITI HILTON RESERVE SIGGY-(5,000), WALMART DISCOVER ( $5,800), CITI DIAMOND ($4,700), CITI DIVIDED WORLD ($4,500), AMAZON STORE($5,000), NORDSTROM VISA SIG($5,000), PAYPAL STORE ($4,000) Amex Delta Gold ($2000)
Message 9 of 11
Established Contributor

Re: Walmart upgrade: take it or wait?

Congrats on the upgrade! Smiley Happy


Starting Score: 760
Current Score: 716 Equifax 754 TU 736 Experian
Goal Score: 760
Message 10 of 11