topic Re: Should I apply for Walmart now or wait? in Credit Cards

Should I apply for Walmart now or wait?

calihlove75 — Mon, 18 Jun 2012 22:55:32 GMT

I was recently approved for Chase Freedom for 3000 but it has not reported yet. My first statement cycles on 6/26/2012 as per what the message center said. I have numerous student loans in deferrment, 230/1050 fingerhut (about 18 months payment history) but that only reports to EQ and TU, 326/1300 Chase Amazon Visa(opened in March 2012), GE Amazon store card (opned year come 6/26/12) 478/$2500 limit but still reporting the 1500 limit until I am guessing it hits my CR this week, and HSBC/CAP ONE 30/300 (opened Jan 2012)

Over the last 2 years I have inquiries :TU-10, EX-8, and EQ-4. My credit report has my oldest account being aprox 8 years and my average account be 2.7 years. I have no lates but my equifax has one unpaid collection from 2007. Fico Scores: TU 743 (CLEAN), EQ 686 (1 COLLECTION $421) EX (clean but FICO unknown)

I really want the Walmart for the TU score. Do you think I should wait until chase posts, Apply now, or hold off because of the inquiries?

Re: Should I apply for Walmart now or wait?

Anonymous — Mon, 18 Jun 2012 21:51:06 GMT

The limit increase might help get a higher limit (recon) and show that you already have a higher limit card. You should qualify for the card at the current score, just a matter of how much they lend out (might only be $500). 4 cards is the max that I suggest ever having, gets harder to juggle cards and it really doesn't help your score go up, unless your worried about your age of accoutns latter...meaning if you have 10 cards now, age them for 5 years; then when you go to get a loan/c.c. you won't take a big drop on your age. Just my 2 cents.

Re: Should I apply for Walmart now or wait?

Anonymous — Mon, 18 Jun 2012 21:56:53 GMT

Walmart will most likely pull Transunion or Equifax. You have a high number of inquiries on TU but, the baddy on EQ so, its kind of a toss up. A FICO of 686 on EQ is certainly acceptable to Walmart but, you might not get as high a CL as you would if your EQ report was totally clean, then again, because the Walmart card is a GE card, you can ask for a CLI in about 4-6 months and grow from there.

I would go for it if I were you -- I like to have all my accounts age together.

Re: Should I apply for Walmart now or wait?

Anonymous — Mon, 18 Jun 2012 23:26:37 GMT

any real need for the card?

Re: Should I apply for Walmart now or wait?

Anonymous — Mon, 18 Jun 2012 23:31:23 GMT

+1 jetsfan

Re: Should I apply for Walmart now or wait?

calihlove75 — Mon, 18 Jun 2012 23:48:50 GMT

@Anonymous wrote:
any real need for the card?

I do shop at walmart and I want the free TU score (main reason). I really want the discover version as if I got that I would toss this HSBC/Capital one. However, I could also live without the card. Why? Do you think I should not?

Re: Should I apply for Walmart now or wait?

Anonymous — Mon, 18 Jun 2012 23:56:58 GMT

well dont take my advice as criticism, but to me, when I get to that option, would opt for more prime cards.

Re: Should I apply for Walmart now or wait?

calihlove75 — Tue, 19 Jun 2012 00:10:45 GMT

@Anonymous wrote:
well dont take my advice as criticism, but to me, when I get to that option, would opt for more prime cards.

Yeah, think I am going to hold off. I definitly do not want to go backwards. I went through this same dilemma a couple of weeks ago. I don't know why I want this card so much. I really think it is the fact that I had horrible credit for so long and now that I am close to getting back on track, I am so scared that some of my horrible decisions of the past are going to somehow creep up on my credit report and I want everything at once. Thanks for being honest

Re: Should I apply for Walmart now or wait?

Anonymous — Tue, 19 Jun 2012 00:11:36 GMT

ive never heard of walmart pulling eq. i thought they only pull tu. anyways how many inquiries do you have in the last 6 mos?

Re: Should I apply for Walmart now or wait?

Anonymous — Tue, 19 Jun 2012 00:16:30 GMT

Anytime. 1 thing I am learning is the road to where you wanna be with credit definitely takes time, and using resources like this site will help you when you wanna slip up.

Re: Should I apply for Walmart now or wait?

Anonymous — Tue, 19 Jun 2012 00:22:14 GMT

@Anonymous wrote:
well dont take my advice as criticism, but to me, when I get to that option, would opt for more prime cards.

I agree that more prime cards will usually give a greater CL, lower APR, and better reward programs. The regular Walmart Card is usually only between $300 to $800. The Walmart Discovery card is between $1,000 and $5,000. However, he stated the main reason he wants the card is for the free monthly FICO TU score which he would have access to even on the regular $300 card.

I would go for it if you are only looking for the TU score. If you are looking for the higher limit, I would wait for some of the inquires to fall off.

Re: Should I apply for Walmart now or wait?

calihlove75 — Tue, 19 Jun 2012 00:23:16 GMT

@Anonymous wrote:

@Anonymous wrote:
well dont take my advice as criticism, but to me, when I get to that option, would opt for more prime cards.
I agree that more prime cards will usually give a greater CL, lower APR, and better reward programs. The regular Walmart Card is usually only between $300 to $800. The Walmart Discovery card is between $1,000 and $5,000. However, he stated the main reason he wants the card is for the free monthly FICO TU score which he would have access to even on the regular $300 card.

I would go for it if you are only looking for the TU score. If you are looking for the higher limit, I would wait for some of the inquires to fall off.

I am a girl Just so everyone knows!

Re: Should I apply for Walmart now or wait?

Anonymous — Tue, 19 Jun 2012 00:45:02 GMT

@calihlove75 wrote:
@Anonymous wrote:

@Anonymous wrote:
well don't take my advice as criticism, but to me, when I get to that option, would opt for more prime cards.
I agree that more prime cards will usually give a greater CL, lower APR, and better reward programs. The regular Walmart Card is usually only between $300 to $800. The Walmart Discovery card is between $1,000 and $5,000. However, he stated the main reason he wants the card is for the free monthly FICO TU score which he would have access to even on the regular $300 card.

I would go for it if you are only looking for the TU score. If you are looking for the higher limit, I would wait for some of the inquires to fall off.

I am a girl Just so everyone knows!

My apologies "However, she stated the main reason she wants the card is for the free monthly FICO TU score which she would have access to even on the regular $300 card. "

Re: Should I apply for Walmart now or wait?

calihlove75 — Tue, 19 Jun 2012 00:46:55 GMT

My apologies "However, she stated the main reason she wants the card is for the free monthly FICO TU score which she would have access to even on the regular $300 card. "

hehe~ Thank you and no problem

Re: Should I apply for Walmart now or wait?

calihlove75 — Tue, 19 Jun 2012 01:14:51 GMT

@Anonymous wrote:
ive never heard of walmart pulling eq. i thought they only pull tu. anyways how many inquiries do you have in the last 6 mos?

5 in the last 6 months but 3 of them are all HSBS/Capital one during a 5 week period all over the same stupid $300 card they gave me

Re: Should I apply for Walmart now or wait?

Anonymous — Tue, 19 Jun 2012 01:17:57 GMT

why did Cap 1 pull 3 times in 5 weeks?

Re: Should I apply for Walmart now or wait?

calihlove75 — Tue, 19 Jun 2012 01:32:58 GMT

@Anonymous wrote:
why did Cap 1 pull 3 times in 5 weeks?

I originally got a preapproval for the Platinum (yeah platinum my bum)l and applied and was approved for the $300. During the next week after that I literally received preapproval for a guaranteed of atleast $750 notice in the mail. I called and explained I wanted to see if I could switch the offer and the women did NOT tell me that it would be an inquiry. I was under the impression she was trying to get me that limit. She later said she couldn't do it. A few weeks went by and I called the backdoor number explaining I was highly dissatisfied with my limit and even went into the who ordeal that I now had another inquiry. She appolgized and assured me she would do her best and it would be a soft inquiry. Denied. Okay so at that point I said I wanted to cancel the card but got transferred to some manager clown that explained they would refund the annual fee so nothing to lose. Well, I decided okay since the 0% intro deal..why not. Anyway, then I see on my credit report that they lied to me again and another inquiry..lol. At that point I gave up and accepted the crap limit. Now I am trying to get the last two inquiries removed. Talked to customer servce and they insist there should be one inquiry and to send a dispute letter to their credit verification department. Did that almost 3 weeks ago and those inquiries are still there.

Re: Should I apply for Walmart now or wait?

Anonymous — Tue, 19 Jun 2012 05:47:54 GMT

Cap1 is ugly! Still keep it until the AF comes due, then say bye bye... I would also go for the Wally World card now. From what I understand you app for the card, if you qualify for the Discover version that is what you get, if not they try to give you the store version, so you get two chances for one inq. Plus all your inqs will drop off around the same time.

Now if you get the store version, you still get 0% promotions, which for WM happen pretty regular. I was originally approved for the store version at 600 CL, in 18 months it reached 1500 and they offered to upgrade it to Disc at a 3500 CL. I only PIF or used 0%, I have never paid interest on the card. Now the downside of Walmart Disc is that the cash back sucks, really it is just a store card with a Disc emblem in the corner. I still use it only as a store card.

my 2 cents

Re: Should I apply for Walmart now or wait?

Revelate — Tue, 19 Jun 2012 06:17:55 GMT

@Anonymous wrote:
ive never heard of walmart pulling eq. i thought they only pull tu. anyways how many inquiries do you have in the last 6 mos?

There was a post just today of a Walmart application pulling EQ. If you look at the various credit pull databases, it'll show they can and do pull anyone but it's overwhelmingly TU.

I tossed out an idea earlier today, that if you already had a GE-backed card they'd potentially be more inclined to pull a different bureau since I think GE softs TU nearly exclusively anyway... might as well fill in the potential gaps in their customer data by looking at a different CRA. Just a theory, no real proof of it.

Re: Should I apply for Walmart now or wait?

kevinjjc — Tue, 19 Jun 2012 11:30:38 GMT

@Steve_o

FWIW, I have a 10k limit on my Walmart Discover.