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Will I Get Approved for WalMart??

Regular Contributor

Re: Will I Get Approved for WalMart??

HAHAHA.

Yes I know. It's just I went from a 502 to 711 in less than a month so I just REALLLLLY want to be approved for something. 

Glad I talked it out though...I don't mind waiting a little longer. Smiley Happy


Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)

Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000
Moderator Emerita

Re: Will I Get Approved for WalMart??

Senior Contributor

Re: Will I Get Approved for WalMart??

I know, but aaoa is aaoa.
Fico doesn't discriminate,
but alas gardening time is always a good time :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Moderator Emerita

Re: Will I Get Approved for WalMart??

@young

FICO may not discriminate -whatever that means but lenders look at revolving credit history. Precisely why Chase doesn't look at AUs. Also, as you have read on this board over and over again- installment loans alone will not get you an approval. They want to see how an individual handles revolving debt, not secured debt, not debt with predetermined payment terms.
Moderator Emeritus

Re: Will I Get Approved for WalMart??

Ok.. You've got some good answers, but I just want to throw my opinion.

 

Sept. 01 2012 I had $0 in revolving credit.

 

I applied for a an AMEX in Aug. of 2012, still have the denial letter in my desk.

 

So I thought this isn't working, I'm not applying for anything.  Some members on here convinced me to get a GE backed Walmart card.  I app'd.  Got a card for $650 (I think that was the initial amount).  I was ecstatic for it.  My first revolv in years!

 

That opened the door to a whole new situtation.  Fast forward to today.

 

Barclays NFL card

AMEX BCE

Citi TYP

Chase Freedom Siggy

Walmart

Lowes

Bank of Omaha AMEX

DiscoverIT

 

Lowest CL on those cards is the Barclays @ $4800

 

Oh, and that little Walmart card?  It's at $6500

 

 

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.
Senior Contributor

Re: Will I Get Approved for WalMart??

Per aaoa, fico doesn't calculate revolving vs installment aaoa, right? That's what I mean.
Sure, on a manual review- AUs wont get counted, but again FICO includes AUs in scoring, right?
I understand that revolving credit is different, duh! Give me some credit(pun intended)
For aaoa, all debts/tradelines are included-again unless I missed something...
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Moderator Emerita

Re: Will I Get Approved for WalMart??

I think you are hung up on what FICO uses for the purposes of a credit score. AAOA is approx 10% of your score. Lenders, however do not predicate their approvals on FICO alone. I personally have experience with declines due to lack of open rev credit history. Although, paid mortgages, car loans, and closed cc's etc were still reporting- lack of rev credit history is what brought me to myFICO last year.

Again, each lender has their own set of guidelines for approval. Why not better your chance with a little longer history?
Senior Contributor

Re: Will I Get Approved for WalMart??

I know that as well- that lenders don't base their approvals solely on FICO
I'm glad I just put two and two together :-) lol you would think I wouldn't need that lmao.
😝
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Moderator Emeritus

Re: Will I Get Approved for WalMart??


09Lexie wrote:
I think you are hung up on what FICO uses for the purposes of a credit score. AAOA is approx 10% of your score. Lenders, however do not predicate their approvals on FICO alone. I personally have experience with declines due to lack of open rev credit history. Although, paid mortgages, car loans, and closed cc's etc were still reporting- lack of rev credit history is what brought me to myFICO last year.

Again, each lender has their own set of guidelines for approval. Why not better your chance with a little longer history?

And the holidays will be coming around pretty soon.  I've found some to be more generous during that part of the year.  That's just my opinion.

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.
Senior Contributor

Re: Will I Get Approved for WalMart??

I can't wait for this years' clis! Haha
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k