topic Re: Walmart Prequalification Disappointment in Credit Card Applications

Walmart Prequalification Disappointment

Anonymous — Tue, 06 Jun 2017 13:35:48 GMT

I received a 'Congratulations! You're prequalified for a Walmart credit card' letter in the mail yesterday. So....I log on to the website last night and enter the acceptance code and the requested information, but when I hit the last submit button, I get a website error message (something like the page you requested is not available, please try again later). So, I go back and try again. This time it says the acceptance code I entered has already been processed

I call the number on the mailer...office is closed. Try calling again at 6, 7, and 8 this morning...office still closed. Finally get someone at 9, and am informed that I'll get a letter in 10 days So I say to the CSR, 'so, it was declined after y'all sent me an offer?' He says, 'yes, I'm sorry about that.' So, I not only wasted my time, but also a probable hard pull. So annoyed with them!

My scores (in the 630's) have actually gone up a few points in the last couple of weeks. The only other change to my CR recently was a new CC account added. Does Syncrony do recons? If so, what's the best phone number/email to use and best approach to take?

Thanks for putting up with my rant

Re: Walmart Prequalification Disappointment

AverageJoesCredit — Tue, 06 Jun 2017 13:59:07 GMT

Man that stinks, but it can be a,good lesson learned to rely more on how your current reports look than on prequal letters. This happened to me a couple times with Discover i got the mailers put in codes and still declined. As far as recons, the computer is king with Synchrony, they dont do recons.

Heres my take on Wally now. As we rebuild we usually want the Wally then hope for the MC version. Once we get the Wally, by the time we could get the mc version we are usually on to better cards. Or you can be upgraded but same principle, another new account. One way to go is wait off on Wally to you eventually get over 700 and go for the mc and hopefully get it in one shot. Thats just my thought on it nowadays. But if not, just wait til you get about 650 you should be good to go. Sorry again, i know its mind boggling at times but youll get there

Re: Walmart Prequalification Disappointment

Anonymous — Tue, 06 Jun 2017 14:18:35 GMT

Thanks for the encouragement AJC!

Re: Walmart Prequalification Disappointment

bigpoppa09 — Tue, 06 Jun 2017 14:22:33 GMT

DW got one of these today also. 2 years ago when I got my WM card approved my TU Fico 08 was 601 yikes. And it was a cold app now it's at 25K.

Re: Walmart Prequalification Disappointment

Anonymous — Tue, 06 Jun 2017 15:50:45 GMT

That would be SUPER frustrating to me as well. Especially taking a HP and not getting the actual credit for it in the end. I know it sucks now especially if there isn't a way to recon but it'll work out.

Next time when you apply you may end up with a higher SL or a sign up gift card bonus. Better yet you'll get a different card you've been looking forward to 😃

Re: Walmart Prequalification Disappointment

AverageJoesCredit — Tue, 06 Jun 2017 20:03:48 GMT

No probs KJohn Lol, if you saw how many wasted pulls i have on my cr's youd shake your head.

The problem with rebuilding and not knowing any better is we'll app anything anywhere just to have more credit. Ive made this mistake many times before i found here and hey its not easy but now i think once you get a general feel on what you want for your profile and your spend, itll get easier.

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 01:48:57 GMT

Scores are not everything a 630 with recent bad marks looks worse then a 630 with baddies more than 2 years old. I was approved for a Dick's Sporting Good store card with excessive inquiries >15 but my scores are a little bit higher and my charge-offs are from 2013.

Try again in a few months. Walmart is a very good store card to have. I'm trying not to encourage blind apping but a lot of gasoline cards are owned by the same bank and they are even looser on approvals than Walmart and Amazon. Nothing beats a high FICO with no bad marks but at the same time building more history with the same bank would not hurt either

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 01:57:40 GMT

@Anonymous wrote:
Scores are not everything a 630 with recent bad marks looks worse then a 630 with baddies more than 2 years old. I was approved for a Dick's Sporting Good store card with excessive inquiries >15 but my scores are a little bit higher and my charge-offs are from 2013.

Try again in a few months. Walmart is a very good store card to have. I'm trying not to encourage blind apping but a lot of gasoline cards are owned by the same bank and they are even looser on approvals than Walmart and Amazon. Nothing beats a high FICO with no bad marks but at the same time building more history with the same bank would not hurt either

Yeah, I don't understand it. My oldest baddies are 2+ years old. Plus, I already have an Amazon Prime card...

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 02:08:50 GMT

@Anonymous wrote:

Yeah, I don't understand it. My oldest baddies are 2+ years old. Plus, I already have an Amazon Prime card...

I was approved for Amazon Prime card and an hour later denied Walmart store card. Pulled TU for both.

What is your AAoA?

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 05:01:06 GMT

That's crazy I got my Walmart card a year-and-a-half before my Amazon card and I burned 3 inquiries trying to get that thing

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 06:03:30 GMT

@Anonymous wrote:
@Anonymous wrote:
Yeah, I don't understand it. My oldest baddies are 2+ years old. Plus, I already have an Amazon Prime card...
I was approved for Amazon Prime card and an hour later denied Walmart store card. Pulled TU for both.

What is your AAoA?

My AAoA is just over 3 years. I have 3 cards that are 9-14 years old, but most of the rest of my accounts are under 3, with some only months old.

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 06:08:39 GMT

@Anonymous wrote:
That's crazy I got my Walmart card a year-and-a-half before my Amazon card and I burned 3 inquiries trying to get that thing

I actually really want the Walmart card, but I'm not going to try again any time soon (or ever, maybe); even if they send another mailer. That left a bad taste in my mouth. I'll probably stop using my Amazon card, too, as soon as I get something with comparable rewards.

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 12:25:05 GMT

Very fortuitous that this thread should come up...I see from today's USPS Informed Delivery notification that I'm getting one of those pre-qualification mailers for the Walmart store card too. I'm expecting my new TU to be available in a few days; as of last month it'd gone up to 640, and while I have several baddies (Chapter 7 BK with associated CC/mortgage accounts being included and closed, lates on my student loan) those are all at least 2 1/2 years in the past now. Plus which, I was approved for $4K on the Overstock store card a couple of weeks ago on a SP from pre-approval; I don't know if that account has reported to the CRA's yet but I hope it does for this cycle. I'm going to check to see when that offer expires, and give it a few days until the new TU score becomes available and see if that goes up any. That'll give me a few days to think over whether I should expend a HP on it; I would like to have this card but I don't want to overdo inquiries or overdose on store cards before I go Visa-hunting in the fall.

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 13:53:54 GMT

@Anonymous wrote:
Very fortuitous that this thread should come up...I see from today's USPS Informed Delivery notification that I'm getting one of those pre-qualification mailers for the Walmart store card too. I'm expecting my new TU to be available in a few days; as of last month it'd gone up to 640, and while I have several baddies (Chapter 7 BK with associated CC/mortgage accounts being included and closed, lates on my student loan) those are all at least 2 1/2 years in the past now. Plus which, I was approved for $4K on the Overstock store card a couple of weeks ago on a SP from pre-approval; I don't know if that account has reported to the CRA's yet but I hope it does for this cycle. I'm going to check to see when that offer expires, and give it a few days until the new TU score becomes available and see if that goes up any. That'll give me a few days to think over whether I should expend a HP on it; I would like to have this card but I don't want to overdo inquiries or overdose on store cards before I go Visa-hunting in the fall.

From what I can see, your stats and situation are very similar to mine; score a few points higher on yours, no BK on mine. I wish I hadn't wasted my time and HP, but you may very well get approved. Tough call.

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 14:08:30 GMT

@Anonymous wrote:
@Anonymous wrote:
Very fortuitous that this thread should come up...I see from today's USPS Informed Delivery notification that I'm getting one of those pre-qualification mailers for the Walmart store card too. I'm expecting my new TU to be available in a few days; as of last month it'd gone up to 640, and while I have several baddies (Chapter 7 BK with associated CC/mortgage accounts being included and closed, lates on my student loan) those are all at least 2 1/2 years in the past now. Plus which, I was approved for $4K on the Overstock store card a couple of weeks ago on a SP from pre-approval; I don't know if that account has reported to the CRA's yet but I hope it does for this cycle. I'm going to check to see when that offer expires, and give it a few days until the new TU score becomes available and see if that goes up any. That'll give me a few days to think over whether I should expend a HP on it; I would like to have this card but I don't want to overdo inquiries or overdose on store cards before I go Visa-hunting in the fall.
From what I can see, your stats and situation are very similar to mine; score a few points higher on yours, no BK on mine. I wish I hadn't wasted my time and HP, but you may very well get approved. Tough call.

The thing is that Synchrony (which issues the Walmart store card) approved me instantly for the Amazon store card at Thanksgiving last year when I took a roll-the-dice chance on it (though they've turned down two CLI attempts so far ), when my TU score was a good deal lower - I wasn't following FICO scores closely at that point but I suspect it was barely over 600 back in 11/16. Comenity approved me for Overstock on a SP, which had to have included the BK basic information, last month, so yeah, it's a roll-the-dice thing again. It would be amazingly paradoxical, though, if Synchrony approved me with a good four-figure SL on Walmart just a couple of weeks after declining a CLI on Amazon...!

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 14:21:30 GMT

@Anonymous wrote:
Plus which, I was approved for $4K on the Overstock store card a couple of weeks ago on a SP from pre-approval; I don't know if that account has reported to the CRA's yet but I hope it does for this cycle.

Be aware that Overstock regularly overcharges for things they sell on their site which allows them to take bigger risks on borrowers than Walmart which tries to be ultracompetitive on pricing.

This is why some store cards can give gigantic credit limits while others can't. Victoria's Secret makes anywhere from 70-80% profits on each item sold so they can give someone $10,000 while Target may only make 2-3% on many items so they can only give the same person $200.

The same is true with Overstock -- if you don't know how to find their real steals (comparing prices to everyone else), you will likely be paying a premium to buy from them with any credit card. Also true of Fingerhut and similar rebuilder sites (HSN, QVC, etc).

The Overstock $4k store card is really good though because that limit will help prybar larger limits later, elsewhere. And if you are a wise Overstock shopper, you can find amazing deals. I was watching the same patio umbrella for almost 2 years on every freaking website possible and finally Overstock had it for 30% cheaper than anyone else, AND an additional 15% off a portion of that amount. I ended up paying almost 40% less than the next cheaper vendor, but for 2 years or so, Overstock was probably 30% more expensive than everyone else!

Walmart should likely approve you if you never burned them before and your TU is decent (over 640 seems like a shoe-in, between 590-639 is YMMV). Don't expect a $4k limit from Walmart.

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 14:39:39 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Very fortuitous that this thread should come up...I see from today's USPS Informed Delivery notification that I'm getting one of those pre-qualification mailers for the Walmart store card too. I'm expecting my new TU to be available in a few days; as of last month it'd gone up to 640, and while I have several baddies (Chapter 7 BK with associated CC/mortgage accounts being included and closed, lates on my student loan) those are all at least 2 1/2 years in the past now. Plus which, I was approved for $4K on the Overstock store card a couple of weeks ago on a SP from pre-approval; I don't know if that account has reported to the CRA's yet but I hope it does for this cycle. I'm going to check to see when that offer expires, and give it a few days until the new TU score becomes available and see if that goes up any. That'll give me a few days to think over whether I should expend a HP on it; I would like to have this card but I don't want to overdo inquiries or overdose on store cards before I go Visa-hunting in the fall.
From what I can see, your stats and situation are very similar to mine; score a few points higher on yours, no BK on mine. I wish I hadn't wasted my time and HP, but you may very well get approved. Tough call.
The thing is that Synchrony (which issues the Walmart store card) approved me instantly for the Amazon store card at Thanksgiving last year when I took a roll-the-dice chance on it (though they've turned down two CLI attempts so far ), when my TU score was a good deal lower - I wasn't following FICO scores closely at that point but I suspect it was barely over 600 back in 11/16. Comenity approved me for Overstock on a SP, which had to have included the BK basic information, last month, so yeah, it's a roll-the-dice thing again. It would be amazingly paradoxical, though, if Synchrony approved me with a good four-figure SL on Walmart just a couple of weeks after declining a CLI on Amazon...!

Yeah, I'm pretty sure that some of these banks (particularly Synchrony) could greatly benefit from an appointment with a psychiatrist...

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 14:46:45 GMT

@Anonymous wrote:
@Anonymous wrote:
Plus which, I was approved for $4K on the Overstock store card a couple of weeks ago on a SP from pre-approval; I don't know if that account has reported to the CRA's yet but I hope it does for this cycle.

Be aware that Overstock regularly overcharges for things they sell on their site which allows them to take bigger risks on borrowers than Walmart which tries to be ultracompetitive on pricing.

This is why some store cards can give gigantic credit limits while others can't. Victoria's Secret makes anywhere from 70-80% profits on each item sold so they can give someone $10,000 while Target may only make 2-3% on many items so they can only give the same person $200.

The same is true with Overstock -- if you don't know how to find their real steals (comparing prices to everyone else), you will likely be paying a premium to buy from them with any credit card. Also true of Fingerhut and similar rebuilder sites (HSN, QVC, etc).

The Overstock $4k store card is really good though because that limit will help prybar larger limits later, elsewhere. And if you are a wise Overstock shopper, you can find amazing deals. I was watching the same patio umbrella for almost 2 years on every freaking website possible and finally Overstock had it for 30% cheaper than anyone else, AND an additional 15% off a portion of that amount. I ended up paying almost 40% less than the next cheaper vendor, but for 2 years or so, Overstock was probably 30% more expensive than everyone else!

Walmart should likely approve you if you never burned them before and your TU is decent (over 640 seems like a shoe-in, between 590-639 is YMMV). Don't expect a $4k limit from Walmart.

Makes sense to me! I've never had a charge/CC account with Walmart to date, and like I said I'm planning to wait a few days to see what my updated TU looks like. Being Synchrony, I wouldn't be too surprised to get a similar SL as Amazon, but we'll see. As for Overstock, I've made a couple of purchases from them so far but those are all things I've been looking for good prices for for quite a while, and I bought them at comparable/lower prices to Amazon, so I'm going to keep that in mind. The real value of that card will be, as you said, to open the doors to other cards with bigger lines later on.

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 14:55:24 GMT

Overstock can be literally amazing on some prices, though. I usually stock up on their trash bags when they go on a real sale AND there's a coupon code to combine. Instead of paying $8.99 at Amazon with "free shipping" or $7.99 at Target on sale, I sometimes snag them at Overstock for under $6 with free shipping. I tried for the OS SCT but they declined me for verification reasons (probably true, my EX address changed to an ancient one randomly when I did the SCT and they reconned with an HP and declined me for lack of verification, lol).

Overstock is just tricky because they're like Amazon or eBay: they let hundreds of people sell on there who are NOT Overstock and some of the prices are really insane, but folks know a lot of rebuilders go there for easier credit so they can shark folks out of 30-40% extra. Buy on Amazon, resell new on Overstock, mark it up 40%, give Overstock their 10% commission and repeat.

I'm eyeballing a few things that price dropped there recently and keeping them in my cart in hopes of getting one of those "hey buy this right now and here's 20% off if you do" emails.

Re: Walmart Prequalification Disappointment

Anonymous — Wed, 07 Jun 2017 15:28:40 GMT

@Anonymous wrote:
Overstock can be literally amazing on some prices, though. I usually stock up on their trash bags when they go on a real sale AND there's a coupon code to combine. Instead of paying $8.99 at Amazon with "free shipping" or $7.99 at Target on sale, I sometimes snag them at Overstock for under $6 with free shipping. I tried for the OS SCT but they declined me for verification reasons (probably true, my EX address changed to an ancient one randomly when I did the SCT and they reconned with an HP and declined me for lack of verification, lol).

Overstock is just tricky because they're like Amazon or eBay: they let hundreds of people sell on there who are NOT Overstock and some of the prices are really insane, but folks know a lot of rebuilders go there for easier credit so they can shark folks out of 30-40% extra. Buy on Amazon, resell new on Overstock, mark it up 40%, give Overstock their 10% commission and repeat.

I'm eyeballing a few things that price dropped there recently and keeping them in my cart in hopes of getting one of those "hey buy this right now and here's 20% off if you do" emails.

So, if you keep items in your cart, they will sometimes send a coupon for some of the items?