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Walmart card worth it?

Regular Contributor

Walmart card worth it?

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.

Message 1 of 5
4 REPLIES
Moderator Emeritus

Re: Walmart card worth it?


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. 

Message 2 of 5
Moderator Emeritus

Re: Walmart card worth it?

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

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.
Message 3 of 5
Regular Contributor

Re: Walmart card worth it?

Why thank you both. No walmart card for me then Smiley Happy

Message 4 of 5
Valued Contributor

Re: Walmart card worth it?


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): 09/14: TU: 784 | EQ: 752 | EX: 784
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


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
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