topic Re: Walmart Credit Card in Credit Cards

Walmart Credit Card

Anonymous — Fri, 17 May 2013 15:20:54 GMT

Hello Forum Associates

I would like to know whether other consumers have gone through this?

I pay my Walmart account on time and sometimes extra payments. I just found out that they decreased my credit limit from $500.00 dollars to $200.00 dollars

credit limit. I was so upset because I gave them no reason for the company to do this. After talking to a Representive Supervisor of Walmart

he told me it was because of something on my credit report that caused the decrease in my credit limit. I told him but I have an outstanding account with Walmart

however I told him but I just got an increase on 2 of my credit accounts without asking. But he told me that maybe in about 6 months the credit limit will go back up.

I don't know what else to do. I paid the account on time but recently I had my credit pulled and it took my score down within 3 days of applying for a car loan for my daughter but we decided not to get the vehicle due to the high interest rate on the loan. I wanted to end the Walmart credit account but it would do more damage on my credit score than good at this point. Thanks so much.

Re: Walmart Credit Card

nicholasyud — Fri, 17 May 2013 15:30:52 GMT

Contact their backdoor and be ready to explain situation.......they seem easy to deal with......

Re: Walmart Credit Card

dddewdrop — Fri, 17 May 2013 15:57:14 GMT

I would not cancel it. Hold on to it. You get a free FICO score and cancelling it will just lower your overal CL and increase your overal Util% when/if you carry a balance. What are your credit scores like? I would just hold onto it and as your scores improve they should raise the CL again. Good luck~

Re: Walmart Credit Card

Anonymous — Fri, 17 May 2013 16:38:33 GMT

What is their backdoor? how do I contact them? Do you have their contact number?

Re: Walmart Credit Card

Anonymous — Fri, 17 May 2013 16:41:34 GMT

Thanks so much. I plan to hold on to the Walmart card until the scores go back up. my score was 674 and fell to 628 after the devastating pull on my credit last week.

Hopefully things will get back to normal within a month from now.

Re: Walmart Credit Card

madmann26 — Fri, 17 May 2013 17:01:08 GMT

There is more to this.

Walmart SP'd you and saw something they didn't like, despite how you treat them. What does your profile look like? Any recent baddies? Util?

Creditors are well within their rights to limit their risk, which is what they have done with you.

Re: Walmart Credit Card

09Lexie — Fri, 17 May 2013 17:36:59 GMT

I agree with madmann26. The CSR said it was something on your cr You also mentioned you were car shopping, inq's could have also decreased your CS.

They should send you a letter regarding the AA but you could also request a copy if your TU based on their action. Review your cr and make sure your cr has not changed.

Good luck.

Re: Walmart Credit Card

ds3 — Fri, 17 May 2013 18:34:06 GMT

I personally have about had enough of walmart. I got the card last November, have PIF every month, scores have gone up, and they will not give me a CLI...I've been stuck at $600 since I opened it. My wife opened her's at the same time and has had 2 CLIs since. I opened this account because EVERYONE on here lauds they're generosity...haven't seen it yet. It's getting frustrating.

Re: Walmart Credit Card

Anonymous — Fri, 17 May 2013 18:36:14 GMT

i've got denied from them yesterday lol!

Re: Walmart Credit Card

Anonymous — Fri, 17 May 2013 18:44:23 GMT

I've never seen an HP pull someone down 46 points, though I realize this is completely antedotal. I'd go through those CRs with a fine toothed comb. Something's not adding up and creditors don't initiate an AA for the sake of it.

Re: Walmart Credit Card

Anonymous — Sat, 18 May 2013 03:00:02 GMT

I talked to Walmart today and I found out that walmart checks the credit bureau every six months and during the time that I had pneumonia I was 30 day late in February 2013 and my credit score went down to 571 (in March 2013). However, Walmart decided to lower my credit limit with them for their safety. Now my score is 641

(as of May 2013) but Walmart told me I have to wait for the next six months which would be in September or October 2013 before they decide to increase my credit. I would like to thank each and everyone who gave me a reply to this issue. May God Bless everyone. Thanks again. Glotee

Re: Walmart Credit Card

Anonymous — Sat, 18 May 2013 03:07:30 GMT

I like to reinerate myself that the 30 day late was with my Capital one account which I called and let the company know I was sick and the following month I paid the balance due to current. But Capital one reported me being 30 days late in February 2013 and in March the report reflected that report. I have never been late with Walmart.