@Anonymous wrote:What type of requirements does Walmart use in their credit decisions? What is the best store card for my one store card?
You can check the credit pulls database and Who gave me credit to see what score was need to approve, most of the scores reported are actual Ficos. You can google for both of these databases. The best store card for you is one that you will actually use on a regular basis.
@Anonymous wrote:That's great information. Should I wait until my Capital One posts to my credit reports to apply. I am sure that an additional credit line would bring up my scores?
I would wait for it to report as you are liable to receive a Fico score bump for the 2nd open revolver reporting.
@Anonymous wrote:One other question about your previous statement to not go with Wells Fargo. Is there a reason for getting a second Capital One instead? This is all pretty new to me. I haven't had a credit card in since 2010.
Cap-1 is more likely to approve than WF. WF treats their CC portfolio as an afterthought, their offerings are not very good and they can be hard to deal with as evidenced by multiple threads in the CC forum. If you have a good relationship with a credit manager at your local office you can bring that prequal and have them submit the app and help to get its approval. I personally would not do business with WF in the credit card arena.
@Anonymous wrote:Gdale6-Do you agree that I need to cancel Credit One immediately, as was posted just a few hours ago by another contributor? I was set to pay it to zero before it closed to statement, and they won't let you pay more than 4 times in 30 days. I wasn't planning on using anymore other than to just keep it open. Should I pay this off and close it, or will it hurt me with just 3 months of on time payments?
As Norman has responded below your post you want to have another card opened to replace it before you close it out. I dont like Credit One but if they are not charging you a monthly fee I would leave it open until the next AF becomes due. Real human underwriters do look at opening and quickly closing a CC as a negative (UWs typically consider any account to be new prior to its 7th month) but ultimately it is your choice. I will tell you that Fico doesnt consider an account to be mature until it reaches its 25th month but I would not recommend you keep a card with an AF just to get to the 2 year mark of reporting.