What type of requirements does Walmart use in their credit decisions?

[Anonymous]

Trying to rebuild my credit.  Is Walmart the best way to go for a store card?  What do they use to make their decisions?  Are there other options?  What is the best option?

Current scores on CK are around 600 and I haven't gotten Capital One posted yet.  It is $2000 with 306 showing as balance.

I also have a Credit One that is only 3 payments in $600 with a $21 balance that hasn't posted to credit yet.  Currently shows 96% credit use.  I wanted to pay it off, but they only allow 4 payments online every 30 days?

[DeeBee78]

If you want a Walmart store card, use the shopping cart trick to get one without a hard pull on your credit report. This will tell you if you're preapproved or not, so you don't waste your time and a hard pull on your credit. 

[DeadlyPersona]

When did Wal-Mart start being a SCT store? I've never known a GE/Synchrony Bank card to be part of that. Only SCT cards are backed by Comenity and not all of them are soft pulls.

[DeeBee78]

I found a listing of stores (outside of myfico forums) that are supposedly SCT - list was updated just a couple of months ago. QVC, Walmart, Dillards, and Kirklands are all listed as non-Comenity stores that supposedly have the SCT.

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@DeadlyPersona wrote:

When did Wal-Mart start being a SCT store? I've never known a GE/Synchrony Bank card to be part of that. Only SCT cards are backed by Comenity and not all of them are soft pulls.

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[gdale6]

There are a few Synchrony cards that offer preapproval at checkout but WM is not one of them to my knowledge.

[DeadlyPersona]

OP if you do get a pop-up with Wal-Mart please come back and update us because that would be a total shocker. However, to answer some of your questions I wouldn't totally rely on the scores from CK. You can go to the "credit pulls" database and see what scores others had when they were approved for the Wal-Mart CC. I personally was denied with a score in the mid 600s (FICO) with little credit history. Then after opening some accounts I tried again and got an approval about 4 months later.  Try waiting until your Capital One and Credit One information has posted so Wal-Mart can see your history.

[Anonymous]

As a new member to this site, I am unclear on what shopping cart trick means.  Is that adding a product, checking out, and saying yes to some sort of pop up to run for credit?  Does Macy's do this? I know that there are a couple of outside sites that I have looked at to see what different companies pull.  I am definitely going to wait until my first two cards show up though.

[Anonymous]

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@Anonymous wrote:

As a new member to this site, I am unclear on what shopping cart trick means.  Is that adding a product, checking out, and saying yes to some sort of pop up to run for credit?  Does Macy's do this? I know that there are a couple of outside sites that I have looked at to see what different companies pull.  I am definitely going to wait until my first two cards show up though.

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Yes that's what the SCT is and no, I've never heard of Macys doing it. As far as Walmart/Synchrony bank when I applied for Walmart as a rebuilder my Trans Union report wasn't really that bad. Credit score wasn't terrible and from what I'd read here I thought I'd lock up a $500 starting line. Well, I got approved for $150. Not to be dismayed, I used it up to the limit and paid it each month, leaving a couple dollars to get a statement. After 3 months almost to the day they auto luved it to $1100 and last night (almost exactly 3 more months have gone by) I got on chat after being declined every month with the cli button and asked for $5000 and got it. I also did this with Amazon and got $5000 there too. Funny thing is, credit report, score etc. Have not changed drastically over 6 months.

I've read it before on this forum and now I see what they say, "Synchrony is a strange beast". So bottom line is my Walmart card went from $150 to $5000 in 6 moths and 19 days so it will grow with you but I don't think you'd get it with your stats. As stated above wait until the cap one reports for awhile and definitely get that credit one paid down. IMO letting cards report 90% + use is a killer for new approvals.

[Anonymous]

I was able to obtain my Walmart card last month I believe by SCT. It wasnt a "pop-up" but I'll tell you guys what happened to me.

I've had a walmart account for about 5 yrs just a regular account with the site  to complete quick checkout , not a credit card. I started by rebuild March of last year. I applied for a Walmart card in Sept 2014 and denied, can't remember the reasons. While browsing Walmart website last month I added a stool I was looking to my cart and continued to checkout as normal, logged into my acct and in the bottom corner there was a very, very tiny little banner thats said "Sweet Island Soul you are pre-approved for a Walmart card. click here to contiue or additional info". I almost disregarded it. I thought it was just marketing.  I thought how could this be I was just denied a few month ago and honestly nothing much had changed in my reports since then. I only had a fingerhut freshstart account as new credit reporting since then. Not only that the address on my  Walmart account was very old, 5 yrs old and I have actually moved to a complete new state since since.

I clicked the banner and thought ok I will proceed. Once i saw the "opt-out " info listed at the bottom of the app I was more confident it was a SCT. I entered my updated address and my full ssn (i paused there also)  and hit proceed and was instantly approved $600. Few days had passed and still no new inquiry on my report from Walmart. Only the old inquiry from last year. Now months later, my second statement has just cut yesterday and still no new inquiry. So there is a version of SCT for Walmart.

Best of luck OP!

[Anonymous]

how does this "trick" work exactly?

thanks