Walmart card worth it?

Mondavi · ‎06-12-2012

I currently only have two credit cards, both with 1500 dollar limits. Util is 2%. I have not applied for a card in over two years. I just want to be able to see my TU score from Walmart from time to time.

My TU score from here is 704 and I know that is not accurate in terms of going for a home loan. I would like to start my home buying process is May. Would it be smart to apply for a new card 5 months out from buying a home?

Thanks for your time.

llecs · ‎08-04-2007

Mondavi wrote:
I currently only have two credit cards, both with 1500 dollar limits. Util is 2%. I have not applied for a card in over two years. I just want to be able to see my TU score from Walmart from time to time.
My TU score from here is 704 and I know that is not accurate in terms of going for a home loan. I would like to start my home buying process is May. Would it be smart to apply for a new card 5 months out from buying a home?
Thanks for your time.

I personally wouldn't YOu might benefit from the added mix with a 3rd, but I'm not entirely certain you'd have a net gain from that added CC by the time you apply for the mortgage. It's iffy. I don't know. Maybe.

Note that mortgage lenders don't use the TU FICO version from Wal-Mart either.

Shogun · ‎04-15-2011

+1 Walmart offers a TU08 to their cardholders who opt for paperless billing. The lenders primarily pull TU04 for their UW.

Starting Score: 504

Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Mondavi · ‎06-12-2012

Why thank you both. No walmart card for me then

rckstrscott · ‎04-25-2011

Mondavi wrote:
I currently only have two credit cards, both with 1500 dollar limits. Util is 2%. I have not applied for a card in over two years. I just want to be able to see my TU score from Walmart from time to time.
My TU score from here is 704 and I know that is not accurate in terms of going for a home loan. I would like to start my home buying process is May. Would it be smart to apply for a new card 5 months out from buying a home?
Thanks for your time.

I would wait til after the mortgage application..

If your score is 704 here, if you have no negatives expect it to be about 10-20 points lower. If you have older negatives, over 4 years, expect your lender score to be 10-20 points higher,

I like the Walmart card. I resisted for a long time. But the free FICO is nice.

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession
Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX

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Walmart card worth it?

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Re: Walmart card worth it?