topic Re: Walmart "Type" Question in Credit Cards

Walmart "Type" Question

Anonymous — Fri, 09 Nov 2012 12:59:36 GMT

Sorry for the possibly dumb question, but on CK it says that the "type" of card I have from Walmart is "Complete Department Stores". I'm assuming this is the store version of the card, but does this reflect negatively on my score?

Just curious.

Thanks!!

Re: Walmart "Type" Question

SportBike4Life — Fri, 09 Nov 2012 13:18:04 GMT

If the card is a store version, it won't negatively impact your credit score. However, it will not give you as much a boost as a credit card from a prime lender.

Re: Walmart "Type" Question

Jutz — Fri, 09 Nov 2012 13:24:29 GMT

Nope, it still counts toward your overall utilization. Not sure if on a manual review it would make a difference, but it's still counted as a standard revolving card.

My question on the same token, for those companies that may look for a card with a higher limit during a recon, would they count the Walmart card if that was the highest limit card? If a person is applying for a Freedom, and has three cards in the neighborhood of 1k, and one Walmart card at 5k, would they have an issue with that?

Sportbike, I'm not sure what kind of "boost" you mean, but as far as score goes, FICO sees a store card the same.

Re: Walmart "Type" Question

Anonymous — Fri, 09 Nov 2012 13:37:16 GMT

@Jutz wrote:
Nope, it still counts toward your overall utilization. Not sure if on a manual review it would make a difference, but it's still counted as a standard revolving card.

My question on the same token, for those companies that may look for a card with a higher limit during a recon, would they count the Walmart card if that was the highest limit card? If a person is applying for a Freedom, and has three cards in the neighborhood of 1k, and one Walmart card at 5k, would they have an issue with that?

Sportbike, I'm not sure what kind of "boost" you mean, but as far as score goes, FICO sees a store card the same.

I'm not sure but when I got my Freedom, they gave me $1000, which was not as high as my "highest" card at $1500. But more than what I thought I would get.

Re: Walmart "Type" Question

Jutz — Fri, 09 Nov 2012 13:43:36 GMT

I wish I could have gotten a Freedom in time for the 10+10. Oh well

Re: Walmart "Type" Question

Anonymous — Fri, 09 Nov 2012 14:05:30 GMT

@Jutz wrote:
I wish I could have gotten a Freedom in time for the 10+10. Oh well

I see that on the forums a lot. What is the 10+10?!?

Re: Walmart "Type" Question

Jutz — Fri, 09 Nov 2012 14:37:48 GMT

Check out the thread on Chase closing the 10+10 program, and then do a quick search on it. It gives you bonus points for also having a checking account. You should be grandfathered, but you should check into the checking account portion of it

Re: Walmart "Type" Question

distantarray — Fri, 09 Nov 2012 14:42:46 GMT

Chase gives beneits for having multiple products with them nicknamed the trifecta for most people online.

Chase checking + Freedom = 10 extra points extra per every transaction even for 1 penny + 10% bonus

so if you charged a $1 coffee you would get 1 base point + 10 bonus point = 11 points + 1.1 (10% bonus) so 11.1 points for 1 cup of coffee. So it makes the Freedom the definately the go to card for small transactions no matter what card you have. Like under $20 even at restaurants or hotel purchases over the Sapphire.

Although you transfer your UR Points to Sapphire then you redeem 25% for bonus on travel completes the Trifecta.

So if you got 11.1 points for $1 purchase with Checking+Freedom then transfer it to sapphire for travel your actually getting 13.875 worth of points for transaction making very close to 14 points for $1 LOL

of coursse this is very unrealistic number since most people wouldn't use $1 purchases all day, and if you did you would get banne for abuse.

Re: Walmart "Type" Question

Anonymous — Fri, 09 Nov 2012 14:46:19 GMT

@distantarray wrote:
Chase gives beneits for having multiple products with them nicknamed the trifecta for most people online.

Chase checking + Freedom = 10 extra points extra per every transaction even for 1 penny + 10% bonus

so if you charged a $1 coffee you would get 1 base point + 10 bonus point = 11 points + 1.1 (10% bonus) so 11.1 points for 1 cup of coffee. So it makes the Freedom the definately the go to card for small transactions no matter what card you have. Like under $20 even at restaurants or hotel purchases over the Sapphire.

Although you transfer your UR Points to Sapphire then you redeem 25% for bonus on travel completes the Trifecta.

So if you got 11.1 points for $1 purchase with Checking+Freedom then transfer it to sapphire for travel your actually getting 13.875 worth of points for transaction making very close to 14 points for $1 LOL

of coursse this is very unrealistic number since most people wouldn't use $1 purchases all day, and if you did you would get banne for abuse.

Oh nice. I do have a checking with Chase (have had them for a LONG time). LOL

Re: Walmart "Type" Question

Jutz — Fri, 09 Nov 2012 14:50:39 GMT

Send them a secure message online to ensure you're enrolled, the program goes away as of tomorrow i think. That's awesome! Earn some points!

Re: Walmart "Type" Question

trumpet-205 — Fri, 09 Nov 2012 17:21:39 GMT

@SportBike4Life wrote:
If the card is a store version, it won't negatively impact your credit score. However, it will not give you as much a boost as a credit card from a prime lender.

Store card and regular credit card are in the same category as far as FICO calculation. FICO does not weigh store card differently. It might weighs differently if you are subjected to manual review.

Re: Walmart "Type" Question

Anonymous — Fri, 09 Nov 2012 18:32:31 GMT

@Jutz wrote:
Send them a secure message online to ensure you're enrolled, the program goes away as of tomorrow i think. That's awesome! Earn some points!

Thank you for contacting Chase.

I confirm that currently your Freedom
account is not
enrolled in Exclusives 10 & 10 program.

However,
please be informed that existing Chase Freedom
Customers with an open Chase
checking account will be
automatically upgraded to the Chase Freedom
Exclusives 10
& 10 program within approximately 1-3 statement
cycles.

Once your account is upgraded to Freedom exclusives you
will
earn extra bonus on all spending that includes 1
point for every $10 of net
purchases and an additional 10
points for each individual net
purchase.

For example, if you made a $200 purchase anywhere, you

would earn 200 points + 20 points + 10 points = 230
points.

If
you have any further questions, please reply using the
Secure Message
Center.

Thank you,

Pradeep Poojari
Customer Service
Specialist

1-800-436-7927

Account is owned by Chase Bank USA, N.A.
and may be
serviced by its affiliates.

Does this interpret to you that I am NOT right now, but will be after a few cycles?!

Re: Walmart "Type" Question

Jutz — Fri, 09 Nov 2012 20:27:55 GMT

Yep, that's the same message others have gotten. Congrats!