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New Walmart Credit Partner > Capital One

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AverageJoesCredit
Legendary Contributor

Re: Walmart Store Card going to be Comenity not Synchrony?


@Anonymous wrote:

@AverageJoesCredit wrote:
I dont know what would be worse, Cap One getting Wally, or Comenity. Its like choosing between a Cld, or a credit limit decreaseSmiley Happy

Capital One = CLD half the accounts

Comenity = close half the accounts


haha, Sareen for the winSmiley Happy lol, jk SaerenSmiley Happy

Message 31 of 332
Anonymous
Not applicable

Re: Walmart Store Card going to be Comenity not Synchrony?

I'm inclined to take a PC from SYNCH if they offer one, over whatever CAP1 does. But I guess I'll have to wait and see what happens.

 

Message 32 of 332
Anonymous
Not applicable

Re: Walmart Store Card going to be Comenity not Synchrony?

This is good for Walmart, and I am sure bad for some consumers that have had a rough patch with Capital One. 

Message 33 of 332
Anonymous
Not applicable

Re: Walmart Store Card going to be Capital One not Synchrony?

Does this apply to just the store card or the MasterCard too?
Message 34 of 332
AverageJoesCredit
Legendary Contributor

Re: Walmart Store Card going to be Capital One not Synchrony?

I was going to say yes, both cards transition over to Cap One but actuslly a good question. Will Cap One issue a MC or Visa? Will Synchrony offer a standard MC to keep some of their clients like they did when the Toys R Us MC was discontinued due to store closure? Interesting times indeed..
Message 35 of 332
firefox100
Valued Contributor

Re: Cap One to take over Wallmart Master card in August.

Cap one to take over Wallmart mastercard accounts. How will this effect Wallmart cardholders, will ther be account number changes and will the cl stay the same. I have account with Cap one which thay have not increase cl over past 10 years never miss payment with Cap One. I never had problem with my Wallmart Mc allways got increase when I ask for one. My cl is 10k. I have never been late on Wallmart card. Have balance at this time.

Message 36 of 332
FinStar
Moderator Emeritus

Re: Cap One to take over Wallmart Master card in August.


@firefox100 wrote:

Cap one to take over Wallmart mastercard accounts. How will this effect Wallmart cardholders, will ther be account number changes and will the cl stay the same. I have account with Cap one which thay have not increase cl over past 10 years never miss payment with Cap One. I never had problem with my Wallmart Mc allways got increase when I ask for one. My cl is 10k. I have never been late on Wallmart card. Have balance at this time.


@firefox100, I believe it would be handled like a variety of their previous transitions from other lenders.  Nothing is definitive yet on whether account numbers will remain the same or if they will change so it's best to wait until it gets closer to the transition timeframe.  It's fairly possible that any future Walmart CLIs will be handled based on Capital One's UW standards as opposed to those from SYNCB (i.e. no more Credit Solutions).

Message 37 of 332
firefox100
Valued Contributor

Re: Cap One to take over Wallmart Master card in August.

My Score is over 780 with all credit reporting agencies. I think Wall mart made big mistake, because most of ther customer base will have lower scores. I don't carry a big balance on wallmart card Cap one will not give increase if you don't carry large balance and make large payments. One good thing you have the Wallmart mc is you can fast cash at Wallmart when you check out and you can get up to 100$ and you have up till thirty days to pay it back with intrest charge, nice float.

Message 38 of 332
firefox100
Valued Contributor

Re: Cap One to take over Wallmart Master card in August.

Correction fast cash has intrest free if you pay the balance in full by due date. I don't think Cap One will keep free intrest for fast cash.

Message 39 of 332
Anonymous
Not applicable

Re: Cap One to take over Wallmart Master card in August.

I think it might be okay. Walmart is going to have huge sway in writing policies for these cards, it’s a seriously massive account, they will no doubt force Capital One to keep things that they find beneficial and one of the reasons Capital One was picked is because Walmart wants more approvals. I think we will see lower SLs and CLIs will be a lot less generous but a lot more people will get approved for the card. 

Message 40 of 332
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