topic Re: Walmart Credit Card. =( in Credit Cards

Walmart Credit Card. =(

Raiders1 — Fri, 17 Aug 2012 20:43:08 GMT

So I've been fixing my credit for the last two months and I decided I needed a new credit card to continue to build credit. I finally decided to apply for the Walmart credit card, mostly because I read that it's easier to get approved and because they give you your TU FICO monthly. I was hoping to get the Walmart Discover with at least $1K CL. I now feel insulted because they instantly approved me for the WM Card (not Discover) with $150 CL. Really $150? They should have just denied me.

I currently have a Cap1 Secured with $500 CL, one WFargo card that was closed four years ago PIF and no lates. My baddies are 2 Collections w/ $700 total, and a 5 year old paid charge off on an auto loan.

I feel like calling them and telling them to not even send me the card and closing the account. Should I? Or do I keep it and hope they increase my CL?

Re: Walmart Credit Card. =(

ficojoe — Fri, 17 Aug 2012 20:52:38 GMT

I got the same deal. Two revolving account for $7500 elsewhere, but walmart gives me $150.

From what I hear, that $150 card can before a $20,000 card. I am told to request a CLI after every 4th statement has been paid.

Unfcortunately, the wal-mart store card never "graduates" into a discover. Apparently you may eventually recieve a discover offer or you may reapply if you want to switch. But then you have to open a new account and close the other one.

Re: Walmart Credit Card. =(

mikka1 — Fri, 17 Aug 2012 20:54:54 GMT

No, don't close the account and don't decline the offer!

This card (probably, similar to all other GE-backed cards) has a tremendous growth potential!

Mine has grown from $300 to $2000 in around 7 months; the first CLI I got was already after my 2nd or 3rd statement and it was 4x CLI! (from $300 to $1200).

Treat it properly, show them some light usage and don't forget to ask for CLI every 4 months. There are people here who have grown their cards from $300-ish CLs to $5000 in less than a year.

Good luck and congrats!

Re: Walmart Credit Card. =(

Anonymous — Fri, 17 Aug 2012 21:08:26 GMT

@ficojoe wrote:
Unfcortunately, the wal-mart store card never "graduates" into a discover. Apparently you may eventually recieve a discover offer or you may reapply if you want to switch. But then you have to open a new account and close the other one.

The Walmart store card DOES graduate into a Walmart Discover. They do close your old account, though, so you take a hit on AAoA for a new account. However, you do not need to reapply to get it, so there is no hard pull for it. Walmart offers upgrades automatically.

Re: Walmart Credit Card. =(

jamesdwi — Fri, 17 Aug 2012 21:18:38 GMT

patience... in 4 months you will probably get a CLI, and then evey 4 months after that. To get the discover version of the card first you probably needed a 740 or better, at 616 you were on the low side of there approval range. The card grows with you, all you need to do is use it and ask for CLI's, in 9 months I grew mine from 600 to 1700. My GE Amazon card has gone from $600 to $2500 in 16 months.

Re: Walmart Credit Card. =(

slarano — Fri, 17 Aug 2012 21:31:42 GMT

Getting CLI's from WalMart with SP's is easy enough. It's like clockwork as long as you use the card and PIF.

Re: Walmart Credit Card. =(

jamesdwi — Fri, 17 Aug 2012 21:35:59 GMT

you don't need to PIF, its okay to leave a 10-30% of the CL on the card and still get CLI's. I do it all the time on my GE amazon card 6months 0 interest rocks!.

Re: Walmart Credit Card. =(

youngandcreditwrthy — Fri, 17 Aug 2012 21:50:23 GMT

I'd keep it! You can prob increase the limit to $1k+ within 6 months and eventually be offered the Discover upgrade!:-)

Re: Walmart Credit Card. =(

Raiders1 — Fri, 17 Aug 2012 21:55:00 GMT

Thanks everyone. I guess I'll keep the card and request CLI every 4 months. Will it go into my credit report as a Credit Card or a Store Card?

Re: Walmart Credit Card. =(

haiti222 — Fri, 17 Aug 2012 22:51:36 GMT

Just as a point of info, mine has grown from $300 to $1600 over six years, so not everyone grows super-fast, but growth is likely.

Re: Walmart Credit Card. =(

jpnelly — Fri, 17 Aug 2012 23:00:29 GMT

My Walmart Discover has grown from $1800 to $8000 in just less than a year.

Re: Walmart Credit Card. =(

LS2982 — Fri, 17 Aug 2012 23:08:18 GMT

@Raiders1 wrote:
Thanks everyone. I guess I'll keep the card and request CLI every 4 months. Will it go into my credit report as a Credit Card or a Store Card?

It will report as a credit card.

Re: Walmart Credit Card. =(

TeeandDee — Sat, 18 Aug 2012 00:41:57 GMT

@Raiders1 wrote:
So I've been fixing my credit for the last two months and I decided I needed a new credit card to continue to build credit. I finally decided to apply for the Walmart credit card, mostly because I read that it's easier to get approved and because they give you your TU FICO monthly. I was hoping to get the Walmart Discover with at least $1K CL. I now feel insulted because they instantly approved me for the WM Card (not Discover) with $150 CL. Really $150? They should have just denied me.
I currently have a Cap1 Secured with $500 CL, one WFargo card that was closed four years ago PIF and no lates. My baddies are 2 Collections w/ $700 total, and a 5 year old paid charge off on an auto loan.
I feel like calling them and telling them to not even send me the card and closing the account. Should I? Or do I keep it and hope they increase my CL?

I feel your pain!!! I had a similar experience with another unrelated credit card (Macy's) that started me off with a $100 cl. I was outraged! LOL!!! Thankfully it did not stay there. As far as Walmart, it does grow with you. I haven't had the leaps and bounds as some others on here, but I have had one CLI of a modest $100, but I believe the next one will be more...*fingers crossed* Hang in there! It will grow!

Re: Walmart Credit Card. =(

wreith — Sat, 18 Aug 2012 02:58:55 GMT

I got my walmart card with a 300 CL, after a couple months I called, thanks to this site and got it doubled to 600, so it will grow just be patient. Two more months and I'll try for a CLI again, hopefully I'll break 1K.

Re: Walmart Credit Card. =(

CK_Charles_Lover — Sat, 18 Aug 2012 03:10:06 GMT

@Raiders1 wrote:
So I've been fixing my credit for the last two months and I decided I needed a new credit card to continue to build credit. I finally decided to apply for the Walmart credit card, mostly because I read that it's easier to get approved and because they give you your TU FICO monthly. I was hoping to get the Walmart Discover with at least $1K CL. I now feel insulted because they instantly approved me for the WM Card (not Discover) with $150 CL. Really $150? They should have just denied me.
I currently have a Cap1 Secured with $500 CL, one WFargo card that was closed four years ago PIF and no lates. My baddies are 2 Collections w/ $700 total, and a 5 year old paid charge off on an auto loan.
I feel like calling them and telling them to not even send me the card and closing the account. Should I? Or do I keep it and hope they increase my CL?

Looking at your siggy, you would need to bring your scores WAY up before getting approved for the Discover version. They almost exclusively pull TU. If you post a question in here before you apply for a card, you will get some pretty honest and helpful info, most of the time little surprise upon approval/denial.

Re: Walmart Credit Card. =(

youngandcreditwrthy — Sat, 18 Aug 2012 03:15:37 GMT

Jpnelly, did you start with the Wmt Discover?!?

*jealous*