cancel
Showing results for 
Search instead for 
Did you mean: 

Walmart Approved!!

Valued Member

Re: Walmart Approved!!

If you don't mind sharing your situation....I was denied last year so I am curious what changed with your credit for them to grant you the card? Did you have a big jump in score or have baddies fall off? Congrats on your approval!



Message 11 of 26
Regular Contributor

Re: Walmart Approved!!


@sryan112213 wrote:

If you don't mind sharing your situation....I was denied last year so I am curious what changed with your credit for them to grant you the card? Did you have a big jump in score or have baddies fall off? Congrats on your approval!


I'm not the OP, but I was denied a Walmart store card a few months ago. (November 2018.) I was approved in mid-Jan 2019.

 

What changed for me was that I was able to settle on a large debt (but I still have other some high balances I'm paying off). The debt settlement raised my score about 70 points (from mid-500s to about 615 or so). My 90-day late baddie was very fresh (less than a month old) when I first applied. That aged a little. I also was able to get a Green Dot secured card and had a month or so history with it. 

 

I was SHOCKED when I was actually approved in Jan. (But something told me to go for it!) I got the minimum SL of $200 but I'm still over the moon about getting in. My income is low, too. I had a lot of things working against me but still got in. 

FICO8: Nov 20, 2018:
FICO8: Feb 14, 2019:
Goal for December 2019: FICO 640-700
  Walmart Store Card Discover IT Cash Back
Green Dot Secured Visa! Oooooh! Discover It Cash Back

Starting Score: 539
Current Score: 637
Goal Score: 760


Take the myFICO Fitness Challenge   |   My credit recovery journal
Message 12 of 26
Valued Member

Re: Walmart Approved!!

Thank you for your response! Do you have utilization reporting with your current cards or were you just battling old negatives? I appreciate your input!



Message 13 of 26
Highlighted
Regular Contributor

Re: Walmart Approved!!


@sryan112213 wrote:

Thank you for your response! Do you have utilization reporting with your current cards or were you just battling old negatives? I appreciate your input!


No problem, I know how it is and I love reading about others' experiences on myFICO!

 

I had a MASSIVE debt spread across three CCs. I settled (for less than full amount) on the biggest of the three. That was the one with the 90-day late. The other two CCs I was able to keep up to date, but the bank closed all three CCs. I have no charge-offs, no judgments. I was able to work it out with the bank.

 

I still am working on getting the other two (closed) CCs paid off. I am on a low-interest payment plan with the bank and the payments aren't that high now, but my credit report lists my utilization at 89%. My current utilization (on open cards) is low, probably 9% or less.

 

I'm not sure how FICO scores that or how banks look at that. Hopefully, they see the big picture and see that my monthly payments (the majority coming from the closed CCs) are not that bad. 

 

I feel very blessed to have been able to pick up the cards I have (Walmart, Overstock, AND an unsecured Discover IT just a few days ago!). Don't get me wrong, I get plenty of non-approvals with bank pre-qualifying pages too. I think part of what might be working for me is that I have one isolated negative "event" (the one CC with its 90-day late as well as the settlement) and that's it. I also have a long Average Age of Accounts (over 10 years) and no other baddies on my report anywhere.

 

Hope this helps! Smiley Happy

FICO8: Nov 20, 2018:
FICO8: Feb 14, 2019:
Goal for December 2019: FICO 640-700
  Walmart Store Card Discover IT Cash Back
Green Dot Secured Visa! Oooooh! Discover It Cash Back

Starting Score: 539
Current Score: 637
Goal Score: 760


Take the myFICO Fitness Challenge   |   My credit recovery journal
Message 14 of 26
Valued Member

Re: Walmart Approved!!

You are awesome!! It really helps a ton to see what others have gone through. It can guide us in the right direction in our credit goals. My utilization is what is killing me now. I think too many new accounts or not a long enough history might have weighed on my denial last year. I do have some negatives from 2014 and 2013 but the ones left I am just waiting to fall off. One was an eviction from 2013 for $7600 and they weren't willing to take it off my report with making monthly payments. When that fallls off watch my score jump to 800 lol (jk). Seriously tho. It's motivating when you have goals that you feel like you can achieve thanks to others stories.



Message 15 of 26
Regular Contributor

Re: Walmart Approved!!


@sryan112213 wrote:

You are awesome!! It really helps a ton to see what others have gone through. It can guide us in the right direction in our credit goals. My utilization is what is killing me now. I think too many new accounts or not a long enough history might have weighed on my denial last year. I do have some negatives from 2014 and 2013 but the ones left I am just waiting to fall off. One was an eviction from 2013 for $7600 and they weren't willing to take it off my report with making monthly payments. When that fallls off watch my score jump to 800 lol (jk). Seriously tho. It's motivating when you have goals that you feel like you can achieve thanks to others stories.


It really does help. I've gotten a lot of encouragement from others here, and hearing about their sad stories makes me realize I'm not alone and there IS a light at the end of the tunnel!

 

I'm still so new to this whole rebuilding thing, but after reading the comments (and just comprehending my own situation) I can see how much difference a few months can make. For example, after my big score jump in late Nov/early Dec I hoped (assumed) that it would make all the difference. But it seemed to take a little longer than that. At some point (I think in January sometime) I started getting preapproval for Discover It Secured. (That was a big breakthrough in my mind!) Then, I took a leap of faith and got both Overstock and Walmart. Then I had another score jump (about 20 points) in early Feb and immediately I was preapproved for an unsecured Discover It. What was the big change? I think the baddie aging 3 months may have helped the score jump, maybe the new cards (including the Green Dot) reporting... I'm not sure, but my utilization wasn't that much better, so it wasn't that.

 

Your scores are in the 600s and that's good. A few more months' (or less) wait and who knows what might happen? It's going to take time and I was told by a credit union (Unify) that I need to wait 6 months for my current new cards to age before they'll consider me. 

 

I mention my low income all the time because that's a big factor for some people, but then look at what I've already been approved for—so obviously it's not a deal-breaker for every card. They just give you lower limits. (I don't spend as much, so it's not as big a deal to me.) I do want CLIs to help with my utilization, but as long as they don't mind me sending in multiple payments a month, I'm just grateful to be accepted...

 

Edit: I wanted to mention who is still not giving me pre-approvals (not that I begrudge them! Smiley Wink ). Citi, US Bank, AMEX, Capital One (I think because I applied in November, they won't consider me until 6 months later?), Chase, Credit One (LOL, I don't want them but I still try their preapproval), Indigo (same thing, don't want them!), Merrick. I can't even get a secured card approval with any of them. It's hit and miss. Eventually, I'll start to see more preapprovals. I am curious to see when that will be!

FICO8: Nov 20, 2018:
FICO8: Feb 14, 2019:
Goal for December 2019: FICO 640-700
  Walmart Store Card Discover IT Cash Back
Green Dot Secured Visa! Oooooh! Discover It Cash Back

Starting Score: 539
Current Score: 637
Goal Score: 760


Take the myFICO Fitness Challenge   |   My credit recovery journal
Message 16 of 26
Valued Member

Re: Walmart Approved!!

This is a huge incouragement for me! I am just going to sit tight and try to inch for the finish line. The only other question I have (Because you haven't already been amazing with answering all my millions of others jk lol) is, when you got the pre approval for Discover unsecure did you already have the Secure? It would be nice to know that I don't need to open a secure card to get a non secure card in the future. I have some good cards and a secure isn't needed at all. I would take the leap if need be but I would like to avoid if possible. Thank you again for all of your insight. I look forward to sharing my story with others one day!



Message 17 of 26
Regular Contributor

Re: Walmart Approved!!


@sryan112213 wrote:

This is a huge incouragement for me! I am just going to sit tight and try to inch for the finish line. The only other question I have (Because you haven't already been amazing with answering all my millions of others jk lol) is, when you got the pre approval for Discover unsecure did you already have the Secure? It would be nice to know that I don't need to open a secure card to get a non secure card in the future. I have some good cards and a secure isn't needed at all. I would take the leap if need be but I would like to avoid if possible. Thank you again for all of your insight. I look forward to sharing my story with others one day!


Thanks, and you're welcome! I wish you good luck soon!

 

No, I never got the Discover Secured. I was waiting until later to get it. I had assumed that I'd only qualify for Secured for months and months to come... then one day I qualified for Unsecured! Cat LOL

 

I don't think I'll get any more secured cards. I might get the Capital One secured if they only require me to put down $50 or $100, but now that I have an unsecured Discover It and the Walmart card, etc., I just want to stick with unsecured.

FICO8: Nov 20, 2018:
FICO8: Feb 14, 2019:
Goal for December 2019: FICO 640-700
  Walmart Store Card Discover IT Cash Back
Green Dot Secured Visa! Oooooh! Discover It Cash Back

Starting Score: 539
Current Score: 637
Goal Score: 760


Take the myFICO Fitness Challenge   |   My credit recovery journal
Message 18 of 26
Valued Member

Re: Walmart Approved!!

Capital One secured is what got me back on track. I had to do a $200 deposit. After 6 months they added on 100 and then at a year they raised my limit to 500 and refunded my depoit. It also reported as an unsecure card even though it was a secure. Best decision I have made so far in my rebuilding process. I look forward to seeing more posts from you in the future about your awesome credit journey!



Message 19 of 26
Valued Member

Re: Walmart Approved!!

I almost forgot to mention this....I had luck with the SCT working with my Banana Republic card last May. It was my first Synchrony card ever so I was excited to get my foot in the door. I read where one other person got it to work so when I tried I had little to no faith it was really a thing. I put a little over $100 in the cart,filled out all the info, and then BOOM! It wasn't a pop up like Comenity but this thing that slid out from the side next to the cart saying,"Congratulations you pre-qualify"! I got an instant approval for $500. That was after I got rejected from Walmart and Amazon. I love the card because I save a ton of money shopping there for my husband, and at Old Navy for the kido. The card can also be used at Gap and Athleta. About a month after that I got  a pre approval e-mail for the BP card and BOOM again.... Instant $600 credit line. About a month after that I got an invitation to apply for Paypal 2% Cash Back and BOOM again!!!! Instant $2000 credit line. I assume no late payments has a huge impact on me receiving credit because for the life of me I can't figure out why I suddenly got those offers. BTW my score was in the 500s for the Banana Republic and lower 600's for the last 2 cards. Anywho just thought I would share some positive experiences since others have helped me!

 

Also I had to sneaker at Credit One. I burned them as well in 2014.They are still on my CR for $500 and I receive almost daily pre approval offers for their Platinum Cash Back card. Ahhhhhh Credit One.....The bank that will give you a change after giving you a chance ;')  I think I am staying clear this time haha!



Message 20 of 26