Walmart Card by Mistake?

jenne223 · ‎01-26-2013

Hi all,

I recently was approved for a Walmart card in 11/12. I have a net income of 75,000, but rebuilding credit. I have been rejected for a few GE cards that I had applied for before the Walmart card, so I never felt the love that everyone on these forums speak of in their GE posts. So on approval I get a credit limit of $150! I was surprised at the low limit, and then I was rejected for an increase. I called again when I received the card for CLI, but rejected again. I pay after using and paying in full mostly at time of purchase or a few days later. So I decided to try again with the CLI. Rejected again yesterday! I think maybe GE made a mistake in actually approving me for the card in the first place, because I have been refused an increase so many times and with such a low limit. I don't know what I should do with this card. Should I close it or just keep it? I don't know what to do.

SamsungHDTV · ‎01-26-2013

I would keep it if I were you. If you are rebuilding credit, I think any credit is helpful in the rebuilding process. More importantly, you get a free fico score which is very nice to have.

ktl72455 · ‎01-26-2013

keep it. every month that passes in good standing is making your score improve even you cant see it daily. Normally they wont consider a CLI increase until at least 6-7 months of use and some cards are 1 yr.

What other cards to you have if any?

How long have you had the walmart card?

From MI.
12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)

Myfico 8 scores
6/12/20 TU 803 ~ EQ 814~ Ex 784
My Wallet: Cap1 3,500K ~FH 2950~Credit One 1750~Credit one #2 1250~Orchard Bank 400 ~NFCU nRewards 18,000~NFCU Cash Rewards 18,500 ~Care Credit 12000~Discover 6000~Lowes 5450~ Amex 5400.00 ~ Harvest King 8000 ~ Langley~Penfed~Service CRU~red stone cru~
UTL 17%

Shogun · ‎01-26-2013

4 months. You need to wait 4 months until you are ready for a CLI from them.

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.

jenne223 · ‎01-26-2013

ok thanks all. I will be more patient and just wait it out.

soILseminole · ‎01-28-2013

yes, just be patient with them. you got your foot in the door with the card, better than nothing at all. the card will grow with you

Give_Me_Credit_Please · ‎01-28-2013

I would definitely keep it, it's not gonna hurt you only help you. I got my Walmart card about 1 month ago and couldn't believe I was approved for $200!! From what I've been reading here, usually when they give you a cli, it's pretty generous. Just keep doing what your doing and be patient. Good Luck!!