Yeah, after my approval for the Overstock card a few weeks ago, I honestly thought I'd cool my heels and wait a few months before applying for anything else. But something told me that I had a shot at Walmart right now. And I really, really wanted Walmart. (I knew I had no shot at the Walmart MC, I was aiming for the store card.)
I like my Overstock card and there's plenty of good stuff I can find there, but I have to look for something to buy. With Walmart, I just get what I would be getting anyway. That's the big benefit. And I get cash back!
DATA POINTS:
- FICO 8 TU: 618
- Low income (under $20,000)
- Recent 90-day late (TU says it's 5 months old)
- 90% utilization on my existing debt. Not insignificant debt (but it was a LOT worse a few months ago). And I'm able to keep up with the monthly payments fine.
- Recent settlement on one of my credit cards (not a charge-off, but it's on the report as "settled for less than full balance")
- $200 credit limit
I applied for the Walmart card a few months ago (when my scores were in the mid-500s) and was very disappointed with rejection. I really, really wanted this card. This is the one I can use day-to-day, for both gas and groceries. So imagine my happiness today! 
I wish the limit were higher, but hopefully, in time, I'll get some CLIs. I'm just so glad to be in! I hope that my story of triumph is encouraging to others in my same lowly credit position! What a difference a few months can make!
Now this time, I really hope I will garden at least until the Spring. My last two applications bore fruit so they weren't wasted inquiries, but I don't want to push my luck. If I feel the urge again, I'll probably try for the Amazon store card, but I think it would be prudent to wait a few months for that. I don't want to go app-crazy!
Congrats
Thats actually impressive. I think i got rejected my first time and i know i was over 650 when i began my rebuild. I started out at a buck fiddy
my Wally card now sits at 15k. On a low income lol. I really should reduce this baby. Wish i could toss you some. It will grow for sure . Use it and pay . Most likely you will get auto luv first so dont try to hard for cli right now. Try in 6 months to establish some history, score growth and potential for auto luv
Thats actually impressive. I think i got rejected my first time and i know i was over 650 when i began my rebuild. I started out at a buck fiddy my Wally card now sits at 15k. On a low income lol. I really should reduce this baby. Wish i could toss you some. It will grow for sure . Use it and pay . Most likely you will get auto luv first so dont try to hard for cli right now. Try in 6 months to establish some history, score growth and potential for auto luv
Congratulations mate on your approval, keep up the good work, it will grow like a weed
;
@AverageJoesCredit wrote:
Congrats
Thank you for all this advice. I'm planning on using it every time I go to Walmart, which is usually at least a time or two a week. I'll also try to get my gas at Walmart (I do when I think of it, but I'm going to make a point of it now!).
I wasn't quite sure what to do in the future about CLIs. I've never asked for one, ever. I figured I'd wait at least 3 months, but with my credit history, 6 does sound sensible. My credit score should be going up and my debt should be going down (hopefully paid off completely sometime this year) so that's going to help. I will try to wait for an auto CLI. Hopefully, it'll happen as my score goes up!
@chhull00 wrote:Congratulations mate on your approval, keep up the good work, it will grow like a weed
Thanks! That's what I'm hoping too!
Congrats on approval !!!!
Congratulations on your approval!
