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Contributor
Posts: 228
Registered: ‎08-29-2013
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Re: Will I Get Approved for WalMart??

@09Lexie

 

So I have a question. I hear you saying don't apply, don't apply, don't apply but I have not heard you say anything about me only having 1 tradeline. When I used to heavily stalk the rebuilding forum it consistantly said you should have at least 3 tradelines and let them grow together. Over there...they pretty much suggest 3 secured cards but still....3 tradelines. Is it really wise to go into the garden for like 4 months with 1 tradline with only a $300 limit???


Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (September 19, 2013) 702(EQ) 679(EX) 711(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)

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Moderator
Posts: 27,207
Registered: ‎09-13-2012
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Re: Will I Get Approved for WalMart??

The question was whether you should apply for Walmart not should you app for 2 or 3 secured cards. The suggestion to wait a few months was based on several factors none of which you have to agree with only that you take into consideration.

1. Walmart May or not pull TU -usually they do but they can also pull another CB
2. Recon for Walmart are nearly impossible if its a computer decline
3. If approved chances of a CL exceeding $300 are slim based on your current CL

Now to Discover
1. Discover can pull EQ, TU and may double pull
3. Discover generally is a conservative lender if you have a TL reporting as opposed to being more willing to give a student a chance. - you already gave a TL reporting
4. CL on Student Discovers are much lower
5. The promo period for a student Discover is called at 6 mos

I'm not saying Walmart will not approve you now ; the odds are in your favor in a few more months. It is only a HP and a sm ding on your cr if declined. Sometimes you gave to go with your gut .

Good luck if you decide to app.
Contributor
Posts: 228
Registered: ‎08-29-2013
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Re: Will I Get Approved for WalMart??

No..I'm not asking at this point should i apply or not. I have decided I am going to wait. However, I am asking what is your suggestion on the need to have like 3 TL's reporting and growing at once as opposed to one. Are you saying that secured is the only way? So getting 2 secured lines is better than getting the WalMart and Barclays for instance?

 

I'm trying to understand how you are suggesting to move forward as I am feeling that 1 $300CL Secured Card may not be enough to be sitting and gardening on? -- Thoughts??

 

Also -- how do you feel about reapping for BofA --- they declined me about 2 months ago for unsecured because I had a ton of collections and a charge off on my report. Now I have none of the above. Is reapplying with them smart since they are my bank or does the fact that recently got secured with them sorta weight against me?


Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (September 19, 2013) 702(EQ) 679(EX) 711(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)

Take the myFICO Fitness Challenge
Bank of America Cash Rewards $300 | Amazon Store Card $800 | WalMart Store Card $1000
Moderator
Posts: 27,207
Registered: ‎09-13-2012
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Re: Will I Get Approved for WalMart??

You only need 2or 3 cc's and they don't necessarily have to come at once. If you had the ability to be added as AU to an existing card in good standing - then that would be quicker. I would suggest that when you do apply in a few months that you add 1 or 2 cards. You can stay on this forum for a few days and get app fever -if you aren't careful. Lol.

A spree or a mini spree done correctly can be successful with proper planning. Choosing cc's that pull from each bureau, making sure that you meet the lenders standard UW criteria so that a recon will not be necessary, that you app for cards that will fit your lifestyle and work for you not you work for them

BoA will probably not approve another app while you have the secured card. The good news is that you can try to get it unsecured sooner than later.

Since you have worked on your baddies your biggest challenge is being patient. Use this time to decide which cards you want and ask plenty if questions. I'm definitely not an expert on GE or Discover and was giving you advice from my personal experience. I'm sure there are others that might offer other suggestions for you as well.

Senior Contributor
Posts: 6,260
Registered: ‎08-16-2012
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Re: Will I Get Approved for WalMart??

I don't think a prime lender, including BOA, Chase, Discover, Amex, or Barclay's would approve you atm . This comes from experience of getting denied time after time from all of them from the time I was 18-22, even with $1000+ store lines with 30-40% util.
They really like to see 2 years aaoa imo. I had $10k+ in credit lines by the time I was 19 and still got denied by all primes except Capital One. The reason was always short CR history. In fact, the only cards that would approve me were GE store cards, whose limits grew extremely quickly, even before I knew about Credit Solutions lol I learned the every four statement cli trick just by being obsessive haha.
After you've reached 6 months and App Walmart, wait another 6 months, then try to get a Freedom or whichever prime card you feel is promising. Also, scour through the t&c of each card you like, then ask if you can really use it and pay in full. It took me FIVE years to get Amex BCE. Im glad too. An 18 yr old w $24500 cl would have been disastrous.
Up to you though, just my contribution on top of lexie's sound advice 😄
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
Valued Contributor
Posts: 1,180
Registered: ‎08-24-2013
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Re: Will I Get Approved for WalMart??

What about getting a card using the shopping cart trick? Have you tried? No inquiry and you'll have another card(or two) while in the Garden.

Discover IT-[16,600] Double Cash-[10,000] Home Projects Visa-[7,700] Chase Amazon-[6,000] Walmart Mastercard-[6,000] Paypal Xtras Mastercard-[6,000] SYNCB Amazon-[5,000] Slate-[5,000] Sallie Mae-[5,000] Overstock-[4,700] QuickSilver-[4,000] Double Cash-[4,000] Bclays Rewards Mastercard-[4,000] Mypoints Visa-[3,750] Ebates Visa-[3,200] Quicksilver-[3,000] Discover IT-[3,000] BOA Cash Rewards-[2,500] Sony Visa-[2,150] Vicky's Secret-[1,750] DSW Visa-[1,500] Diamond Preferred-[1,500] Simplicity-[500]{Paypal Credit- 5,100/ Newegg Preferred-2,000} TCL:[106,850] EX-(20) TU-(15) EQ-(11) Last app: 4/22/15
Contributor
Posts: 228
Registered: ‎08-29-2013
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Re: Will I Get Approved for WalMart??

Thats smart JS!

Only thing is I have one of those fraud alerts on my Equifax and Experian and I think most retailers where the shopping cart trick works pull from EQ and EX and not TRANS. 

 

Right?


Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (September 19, 2013) 702(EQ) 679(EX) 711(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)

Take the myFICO Fitness Challenge
Bank of America Cash Rewards $300 | Amazon Store Card $800 | WalMart Store Card $1000
Valued Contributor
Posts: 1,180
Registered: ‎08-24-2013
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Re: Will I Get Approved for WalMart??


JamesKnox wrote:

Thats smart JS!

Only thing is I have one of those fraud alerts on my Equifax and Experian and I think most retailers where the shopping cart trick works pull from EQ and EX and not TRANS. 

 

Right?


No. A few pull from Transunion. In fact, the ones that are also Visas/Mastercards pull TU. I received Mypoints through the shopping trick and haven't stopped using it since it arrived. 

 

This tells you which CB is pulled:

 

http://www.controlyourcredit.net/preapproval.html

 

*Make sure you're opted-in and pop-ups are accepted

Discover IT-[16,600] Double Cash-[10,000] Home Projects Visa-[7,700] Chase Amazon-[6,000] Walmart Mastercard-[6,000] Paypal Xtras Mastercard-[6,000] SYNCB Amazon-[5,000] Slate-[5,000] Sallie Mae-[5,000] Overstock-[4,700] QuickSilver-[4,000] Double Cash-[4,000] Bclays Rewards Mastercard-[4,000] Mypoints Visa-[3,750] Ebates Visa-[3,200] Quicksilver-[3,000] Discover IT-[3,000] BOA Cash Rewards-[2,500] Sony Visa-[2,150] Vicky's Secret-[1,750] DSW Visa-[1,500] Diamond Preferred-[1,500] Simplicity-[500]{Paypal Credit- 5,100/ Newegg Preferred-2,000} TCL:[106,850] EX-(20) TU-(15) EQ-(11) Last app: 4/22/15
Contributor
Posts: 228
Registered: ‎08-29-2013
0

Re: Will I Get Approved for WalMart??

So......

I apped for WalMart! --- I just couldn't restrain myself lol.

 

Approved for $1000. -- Calling in December for CLI -- Hopefully $2500

January/Feb going to APP for Discover IT and maybe Freedom and hopefully they'll at least MATCH the proposed $2500. 

 

x


Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (September 19, 2013) 702(EQ) 679(EX) 711(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)

Take the myFICO Fitness Challenge
Bank of America Cash Rewards $300 | Amazon Store Card $800 | WalMart Store Card $1000
Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: Will I Get Approved for WalMart??

Congratulations. I am surprised at your initial CL!

Good for you!
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