Walmart Pre-qualify in the mail

[MortgageMinded]

Received a Wal-mart pre-qualify letter in the mail, considering my FICO scores below, is it worth the HP?  

I just ran myfico and here it is:

EQ = 625

TU = 640

XP = 650

I would love to add this card to my mix, but there are 2 open CO on my CR and a repo, if I don't have a shot let me know.  I know prequalify does not mean pre-approved.  I know I have to be getting closer.

Thanks....

[Anonymous]

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@MortgageMinded wrote:

Received a Wal-mart pre-qualify letter in the mail, considering my FICO scores below, is it worth the HP?  

I just ran myfico and here it is:

EQ = 625

TU = 640

XP = 650

I would love to add this card to my mix, but there are 2 open CO on my CR and a repo, if I don't have a shot let me know.  I know prequalify does not mean pre-approved.  I know I have to be getting closer.

Thanks....

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I received one in the mail today applied and was instantly approved. I do not have any CO's or repo but I do have a bunch of new credit. I didnt think I would be approved either since I applied in Nov 2014 and they shot me down. If your credit profile was good enough to send you the preapproval and nothing has changed I don't see why you would be denied but I am still figuring things out myself. I guess we will wait for some more experienced postings to chime in.

[Anonymous]

In my humble opinion i dont think its worth it. Specially since they take VISA/MC/AMEX/CASH ETC...

[Anonymous]

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@MortgageMinded wrote:

Received a Wal-mart pre-qualify letter in the mail, considering my FICO scores below, is it worth the HP?  

I just ran myfico and here it is:

EQ = 625

TU = 640

XP = 650

I would love to add this card to my mix, but there are 2 open CO on my CR and a repo, if I don't have a shot let me know.  I know prequalify does not mean pre-approved.  I know I have to be getting closer.

Thanks....

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When I got the card in April of 2014 I still had an open collection account, and 635 TU which is who they pulled for me. I apped from a pre-approval letter and got a 300 limit. As always YMMV

[MortgageMinded]

UPDATE ----  I figured I would go for it, it's one of 2 cards I would really like to have because I shop there.   I was approved!!!!    I don't know the CL yet, it just said I would get the card in 10 days.

Thanks all.. fingers crossed.   GARDEN FOR SURE!!!

[Anonymous]

I got it with a few collections on my TU, I wasn't prequalified or anything, just blind apped for it and got it since I heard Synchrony was fairly easy to get in with.  It's not bad for rebuilding, and I still go back and forth on whether or not I'll keep it once I get better cards.  I have a $400 limit, not great but you have to start somewhere.  Interesting part is, I got an amazon for $600 exactly two weeks later (after being denied three months before) then CareCredit that matched both limits ($1000), then got Chase that matched all 3 ($2000).  Every little bit helps I guess. 

[MortgageMinded]

Actually, the other card I wanted was Amazon and was turned down last year as well. Here's hoping to getting it. I don't know the CL yet, but hoping since most other accounts are around $1k, it will be at least $500.

[Anonymous]

You should have a good chance of getting it with a low to mid 6 ish score. We got a preapproved app in June and were approved for a $600 limit.

[Anomalous]

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@MortgageMinded wrote:

UPDATE ----  I figured I would go for it, it's one of 2 cards I would really like to have because I shop there.   I was approved!!!!    I don't know the CL yet, it just said I would get the card in 10 days.

Thanks all.. fingers crossed.   GARDEN FOR SURE!!!

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Congratulations! I had a similar profile as yours when I was approved last year.

[TURNERHOOVER]

If you're approved the limit may be low, so you might take a hard hit for practically nothing.