topic Re: Converting Cards from Store to Bank (Walmart, Loft ??) in Credit Cards

Converting Cards from Store to Bank (Walmart, Loft ??)

reneasworld — Sat, 04 Oct 2014 14:14:48 GMT

I saw that some people have received a Walmart Credit Card and later received a Mastercard or Discover. I have also been offered to change my Loft card to a major card. I am considering taking the inquiry hit just to convert the store card to bank cards. Any suggestions and do they usually convert a new account or should I wait?

Re: Converting Cards from Store to Bank (Walmart, Loft ??)

Creditaddict — Sat, 04 Oct 2014 15:46:54 GMT

@reneasworld wrote:
I saw that some people have received a Walmart Credit Card and later received a Mastercard or Discover. I have also been offered to change my Loft card to a major card. I am considering taking the inquiry hit just to convert the store card to bank cards. Any suggestions and do they usually convert a new account or should I wait?

if they offer you the upgrade it won't be an INQ but it will be a new account reporting.

Id wait for the offer.

Re: Converting Cards from Store to Bank (Walmart, Loft ??)

coldnmn — Sat, 04 Oct 2014 17:35:47 GMT

Converting Walmart from store card to Mastercard is by invitation only. If you try they will tell you to reapply. At least that has been the history I have read here so far.

Re: Converting Cards from Store to Bank (Walmart, Loft ??)

CreditUnionFan — Sun, 05 Oct 2014 05:05:00 GMT

@reneasworld wrote:
I saw that some people have received a Walmart Credit Card and later received a Mastercard or Discover. I have also been offered to change my Loft card to a major card. I am considering taking the inquiry hit just to convert the store card to bank cards. Any suggestions and do they usually convert a new account or should I wait?

GE/SYNC offers an upgrade when they want, and while you can reapply for a new account, there's no guarantees, and you'd take a HP (or a few HPs) to find out.

I happened to get solicited for an upgrade on my TJX card, but declined the upgrade because I didn't need another MC, so I thought it best to keep the AAoA for the old account. (oh, and it is part of the "mix" that FICO supposedly likes)

If GE/SYNC likes you, and you don't want to wait, why not find one of their cards that are only available as MC/Visa, like the Ebates Visa?

If you're a Sams member, you could apply for their MC. There is room in my wallet for both because of the unique perks at each respective store.

Re: Converting Cards from Store to Bank (Walmart, Loft ??)

FinStar — Sun, 05 Oct 2014 05:13:05 GMT

@coldnmn wrote:
Converting Walmart from store card to Mastercard is by invitation only. If you try they will tell you to reapply. At least that has been the history I have read here so far.

Synchrony CC's are all by invitation only if you currently have their store card version.

Re: Converting Cards from Store to Bank (Walmart, Loft ??)

reneasworld — Sun, 05 Oct 2014 19:38:10 GMT

@CreditUnionFan wrote:
@reneasworld wrote:
I saw that some people have received a Walmart Credit Card and later received a Mastercard or Discover. I have also been offered to change my Loft card to a major card. I am considering taking the inquiry hit just to convert the store card to bank cards. Any suggestions and do they usually convert a new account or should I wait?
GE/SYNC offers an upgrade when they want, and while you can reapply for a new account, there's no guarantees, and you'd take a HP (or a few HPs) to find out.

I happened to get solicited for an upgrade on my TJX card, but declined the upgrade because I didn't need another MC, so I thought it best to keep the AAoA for the old account. (oh, and it is part of the "mix" that FICO supposedly likes)

If GE/SYNC likes you, and you don't want to wait, why not find one of their cards that are only available as MC/Visa, like the Ebates Visa?

If you're a Sams member, you could apply for their MC. There is room in my wallet for both because of the unique perks at each respective store.

Thanks for the info. I have seen people list the Ebates Visa but do not know much about it? I will search for more info on it or what is the quick breakdown?

Re: Converting Cards from Store to Bank (Walmart, Loft ??)

coldnmn — Sun, 05 Oct 2014 21:56:03 GMT

This may help.

http://www.ebates.com/credit-card.htm

Re: Converting Cards from Store to Bank (Walmart, Loft ??)

CreditUnionFan — Mon, 06 Oct 2014 06:19:15 GMT

@coldnmn wrote:
This may help.

http://www.ebates.com/credit-card.htm

I realized after posting that, that for the next few months there are the 5% cash back promotion through Discover, but since Discover caps out at $1500, the Ebates card may still be useful.