Questions About My Walmart Store Card Approval

[Anonymous]

On December 22nd I applied online for the Walmart store card.  The application froze up on me and I wasn't even sure if my application went through or not.  Then I received an alert that my TU file was pulled so I knew it went through, but never knew if I was approved or denied.  I waited to hear something, but then remembered I have a note on my credit to check my identity closely because when my father applies for credit sometimes his peronal info ends up appearing on my report.  I usually have his personal info and mine on my file and its getting time consuming to get the CRA's to correct this.  Even his inquiry's will be on my credit, its ridiculous.  Anyway, I figured I should call and see if they need additional info from me.  When I called they transferred me to the verification dept.  The rep asked me some questions and sent me a text with a code to confirm with him.  After doing this he came back and I think he said I was approved with a $150 credit limit!!  I really do want a Walmart card, but I think I should cancel it due to the low limit.  

My credit profile is as follows:

EQ FICO: 656

TU FICO: 682

EX FICO: 676

I have nothing negative on any credit report.  However, my files are VERY thin.  I have one credit card which is  VISA with 1FBUSA. In January I will have 8 months of positive credit history.  I am a full-time college student and I also work full-time.  I earn $41,600 a year at my job. I have scholarships that cover my college tuition, books and living expenses. I am really not sure if adding in the additional scholarship awards to my annual income is allowed, so I dont do it.

I am wondering if Walmart would consider increasing my limit at activation?  Has anyone had any success with just calling and asking for a higher limit?  The thing is I am planning on obtaining a few additional cards this new year and I think such a small credit limit will mean more small credit limits.  

My Visa card started me out with a $250 limit and each month I charged about $200 on it, but I always paid it off.  1FBUSA never reports me as having a $0 balance though. In November they raised my limit to 1K, but only EX and EQ have updated my credit limit.  TU is reporting a $250 limit with a $210 balance.  I think this is why Walmart only approved me for a $150 limit.  I was thinking I could call them and explain this and offer to send them a copy of my other two files showing my true balance and limit. Possibly they would pull a 'soft' inquiry on those files and increase my walmart card.  I really don't want them to pull another hard inquiry.  They already pulled a hard inquiry on 12/22 and then when I called the verification department they pulled it again.  I did not authorize the second pull and they did not tell me they were doing it.  However, today I received an alert with my credit monitoring saying it was pulled again.

Any advice on getting my limit increased?  I also was approved for the Amazon store card and they approved me for $800. I would have liked a higher limit with them as well, but after getting the $150 with Walmart I can't really complain.  I also was approved for the Cabela's VIsa card and have no idea what limit they gave me. They pulled EQ though so at least my 1K limit is showing with my Visa.  

For the new year I am planning on applying for 2 more major cc's and possibly Kohl's.  It might sound like alot, but I am trying to replace my 1FBUSA Visa card entirely.  I will keep the account open, but I won't be using it.  In a few months the interest will be 30% and I'll be charged an annual fee. So, I am going to do some research and try to get my scores above 700 and find a good major cc. 

[Anonymous]

Do not cancel the card. Use it and pay it on time. Request CLI and they are generous with CLI. You can even apply for it when you first get card. I've heard people getting 500 SL going to 5000 after they get card and call in. You should also try getting a few more credit card best to have at least 3. I think 6 is best

[Anonymous]

Congratulations on your new card! I wouldn't cancel the Walmart card. It can be valuable in your overall building and will grow. Call Credit Solutions (number listed in helpful numbers at the top of the main credit card forum page) and let them know you are planning a larger purchase and would like a CLI. Ask for 5k.  They will counter offer if they are unable to grant you the full 5k. To answer your questions, Credit Solutions/ Synchrony Bank does not do hard pulls for CLI, only soft pulls, on the Walmart card.

If you have nothing negative in your credit report and a TU of 682, Credit Solutions should give you some sort of CLI. Let us know how it goes.

Regarding your Cabela Visa, congratulations and you can call Cabela's back and ask to speak to the bank division (World's Foremost Bank). They have often been better at being able to share your new credit limit with you than the regular customer service department. Cabela's credit limit may be between 1k-2k based on your limited (but positive) credit history, but that is just an estimate. Good luck.

You already have several new cards so I'd recommend growing those cards before rapidly applying for more.

[creditguy]

Yes you can chat with or call credit solutions once you get your card and ask for a CLI. $150 sounds awful at first but it can grow large and fast depending on use. If your first try at a CLI is unsuccessful, use it heavily for a few months and pay as you use it, next time you ask for a CLI it will show justification for one. Either way don't sweat the SL it will grow one way or another.

[Anonymous]

+1

[klarso11]

Congrats Dylan96! Once you activate your card you can call Synchrony (number on back of card) and ask for cli. I suggest $5K which is more than they will let you have. They will counter offer with your allocated cl. In my case I started at $500 and they bumped me up to $700 via website request. After I joined this forum I contacted Synchrony via chat and asked them to give me $6K, they counter offered $5K. From there I have since raised all of my Synchrony card limits. Remember, always pay more than minimum payment and always pay early!

[Anonymous]

I was also approved for $150 at walmart and Amazon for $1,000.  I tried calling credit solutions right away for cli but was denied.  After the second statement cut, I called again and got $3,500 on both of them.  Sometimes, they like to see you use the card first.

[elim]

I was approved for $150 walmart card.  It now sits at $10,000 and i'm going to try for some more in a month or two.  Keep the card.

[Grafton88]

I got a Walmart store card the week before Christmas.  It was also for $150.  I was hurt because that day I had gotten an Amazon store card with a $1000 limit.  I also have a thin file.

I got over my hurt.  I had seen how many people had receive their cards with low limits but had received a number of increases rapidly.

I found an item I wanted that was $40 cheaper at Walmart than at Amazon.  I bought it and PIF when I got my statement.  There is another item I want that I will purchase tonight.  I will also PIF when I get my statement.

Come February I will call Synchrony and ask for a $5000 limit.  I wont be surprised if they counter offer somewhere in the several thousand  of $ limit.

You just need to get your foot in the door.  Buy some stuff.  Pay it off.  They will show you some luv.