topic Re: Walmart Card Capital One Denial in Credit Card Applications

Walmart Card Capital One Denial

CreditUp26 — Sat, 19 Oct 2019 19:04:13 GMT

Wanted the new Walmart card from Capital One. Definitely harder to get than Synchrony, which is interesting because I read somewhere Walmart left Synchrony because it wanted more approvals. Applied and was denied instantly for both the Mastercard and store-only version. As is normal, Capital One pulled all three reports. Reason was number of inquires/new accounts. No recon is available through Capital One - even tried to conver my other card to it and couldn't. Would love to convert the card I don't use to Walmart but rep said it is very unlikely since it is co-branded.

Data points: FICO ~ 730, $14K balances, $165K available, approx 30 inq total 3 reports and 4 new cards in last 12 months

Re: Walmart Card Capital One Denial

Anonymous — Sun, 20 Oct 2019 00:36:34 GMT

Sorry about your denial....I am interested in the reason they will give you. Keep us posted when you get the letter.

Re: Walmart Card Capital One Denial

kdm31091 — Sun, 20 Oct 2019 01:38:26 GMT

Capital One has really tightened up on approvals within the past year or two and it seems the Walmart card is no exception. And yes, there's no recon available with them.

Re: Walmart Card Capital One Denial

Anonymous — Sun, 20 Oct 2019 01:54:13 GMT

In their defense, 30 Inq is quite a bit. While I'm sure their deal with Walmart hinged on approving more people than SYNCH, they still have to be fiscally responsible. It seems that more and more lenders are starting to tighten up UW lately.

Re: Walmart Card Capital One Denial

texasbred71 — Sun, 20 Oct 2019 03:04:43 GMT

I just got this card. My scores are 597 Equifax 636 Transunion and 644 Experian. 6 new accounts and pretty high inquiries. I dont see how you didnt get it.

Re: Walmart Card Capital One Denial

DaveInAZ — Sun, 20 Oct 2019 17:17:11 GMT

@texasbred71 wrote:
I just got this card. My scores are 597 Equifax 636 Transunion and 644 Experian. 6 new accounts and pretty high inquiries. I dont see how you didnt get it.

That was my reaction, sorry @CreditUp26 Solid Fico score, crazy high inquiries and 4 new accounts could be worrisome for some, but 8% utilization indicates you're not abusing new credit. That many inquiries & new accounts may indicate you churn SUBS, but there is no SUB for Walmart.

Re: Walmart Card Capital One Denial

Anonymous — Sun, 20 Oct 2019 21:06:10 GMT

I think the CCCs see the writing on the wall and are preparing for a paradigm shift in the credit market. Consumer spending is eclipsing wage growth by a rediculous margin and credit debt is at an all time high. Clutch your pearls ladies, salad days are coming once again.

Re: Walmart Card Capital One Denial

CreditUp26 — Sun, 20 Oct 2019 21:58:14 GMT

This was my thing is that there is no massive signup bonus for the Walmart card. I think you get 5% back in store the first year instead of 2%, that’s not a real bonus. So there’s no churn concern here. You would only apply for this card if you shop at Walmart. I could see also applying if you are desperate for credit but with $168K available I’m clearly not and 700+ FICO is low risk. They could have also just let me convert. It’s Ok though, Discover is 5% through the end of the year on Walmart.com so I’ll use that. Cap one has definitely tightened up lending but I read it’s because they see a recession coming soon. Going to garden a bit - just got Macy’s back so hopefully no AA On my other cards from the inq or ones I’ve opened and will try again in 6 months.

Re: Walmart Card Capital One Denial

Anonymous — Thu, 24 Oct 2019 14:52:46 GMT

Yep I got denied last night as well!

Re: Walmart Card Capital One Denial

newgirlintown — Sat, 02 Nov 2019 03:51:03 GMT

Wow! What are your Fico scores if you don't mind me asking? I would really like to have this card. I go to Walmart almost every day but I'm afraid to apply.

Re: Walmart Card Capital One Denial

Gotham- — Sat, 02 Nov 2019 11:54:17 GMT

Wow Just saw the commercial for the card
I think once your 30 inq go down Cap1 will give you their Card!

You have pretty solid DP

Re: Walmart Card Capital One Denial

zerofire — Sat, 02 Nov 2019 15:23:36 GMT

While Walmart wanted more approvals for their card there was nothing in the paperwork that said that Capital One can not deny requests that they think are insane. Just like Capital One I have reason to believe that 30 inquiries is a bit much especially if they are all cards. I recommend that you sit back and have a break in the garden as those HP's fall off.

Re: Walmart Card Capital One Denial

Anonymous — Fri, 08 Nov 2019 18:26:07 GMT

Eq 635, ex 730, tu 780

Re: Walmart Card Capital One Denial

Anonymous — Tue, 12 Nov 2019 01:35:35 GMT

@Anonymous wrote:
Eq 635, ex 730, tu 780

Wow. Cap1 is on a scortched earth mission to clear the table at Wally World.

Re: Walmart Card Capital One Denial

Anonymous — Fri, 22 Nov 2019 20:39:27 GMT

they denied my first application, reapplied at the recommendation of a store employee and approved

Re: Walmart Card Capital One Denial

Rebuild2019 — Fri, 22 Nov 2019 20:57:48 GMT

@Lking what changed in your profile from the time you were denied and the time an employee advised you to reapply? Just curious.

Re: Walmart Card Capital One Denial

FireMedic1 — Fri, 22 Nov 2019 23:39:31 GMT

@Rebuild2019that is strange. Let us know.

Re: Walmart Card Capital One Denial

ecxpa — Sun, 24 Nov 2019 17:45:04 GMT

@CreditUp26 wrote:
This was my thing is that there is no massive signup bonus for the Walmart card. I think you get 5% back in store the first year instead of 2%, that’s not a real bonus. So there’s no churn concern here. You would only apply for this card if you shop at Walmart. I could see also applying if you are desperate for credit but with $168K available I’m clearly not and 700+ FICO is low risk. They could have also just let me convert. It’s Ok though, Discover is 5% through the end of the year on Walmart.com so I’ll use that. Cap one has definitely tightened up lending but I read it’s because they see a recession coming soon. Going to garden a bit - just got Macy’s back so hopefully no AA On my other cards from the inq or ones I’ve opened and will try again in 6 months.

What recession......the one that was coming 2 years ago? From what I see credit is pretty fluid now....however, lenders are getting more selective and more people are starting to use credit cards again as they can earn money this way. I will do my Christmas shopping this year with bonuses I have received from credit card usage.

Re: Walmart Card Capital One Denial

MrsSanchez80 — Tue, 07 Jan 2020 20:19:28 GMT

I wanted the Walmart card as well, but I believe I've been blacklisted by Cap1 since my bankruptcy😔😔😔

Re: Walmart Card Capital One Denial

recoveringfrombk7 — Tue, 07 Jan 2020 23:43:50 GMT

Cap One seems to let most people back unsecured around a year after discharge. Some a lot sooner, but most by then.