The benefits of the Walmart Synchrony card was not clear for me. Even for shopping at Walmart, other cards could provide higher cashback 
Does the transfer to Capital One provide additional benefits? Any advantage from Capital One on other services? Note that Capital One had a recent breach, seems impacted ALL its customers and not sure whether it is recommended to open a credit line with them. Is it still recommended to keep the Walmart credit card or cancel it ASAP before this transfer to Capital One?
Please provide your insights. Based on my initial evaluation, I prefer to cancel the card in this month before the transfer.
Fico8: EX~EQ~TU~810 (12 month goal~840).
@xenon3030 wrote:The benefits of the Walmart Synchrony card was not clear for me. Even for shopping at Walmart, other cards could provide higher cashback
Does the transfer to Capital One provide additional benefits? Any advantage from Capital One on other services? Note that Capital One had a recent breach, seems impacted ALL its customers and not sure whether it is recommended to open a credit line with them. Is it still recommended to keep the Walmart credit card or cancel it ASAP before this transfer to Capital One?
Please provide your insights. Based on my initial evaluation, I prefer to cancel the card in this month before the transfer.
Capital One already has your information. They are evaluating every account to see if it will move to them and mailing letters which means they already have the account data. If the card has no use for you, cancel it. If you use it, there’s no harm in keeping it and seeing what happens with the transfer.
@Janus
I had an Orchards Bank card too, and when Cap1 took over they reaged it as opened in 2008. When in actuality I opened it at least in the very early 2000's, like 02-03ish.
If this happens again with the Wally's card, I'll be seriously miffed. And even moreso if they issue me just the store card and not the MC. lol
My Cap One that's open is my old Household bank card and the date on that card is 2003, my Cap One
I closed last year(Orchard) has a date of 2005 on it. I didn't follow my credit reports as religiously
as I follow them now so I don't know if they shaved a few years off them or not.
I did try to PC the store card to the Walmart MC but they said I wasn't eligible. I got the letter from
Cap One the next day in the mail. Now I know why! Will be interesting to see what I get from them.
Synchrony did show me the love with my PayPal Credit, raised me to 4k from 1k, which is fine by me!
@sws53 wrote:
I closed my Walmart Mastercard yesterday with a 10k limit and opened a Mastercard at SunTrust. SunTrust gave me a 9700.00 limit with 0% for 15 months with 5% cashback on gas and groceries. Couldn't accept the idea of carrying a Cap1 card.
And after 1 year its 2% gas/groceries. Like you said. You closed your Walmart card, run by Sync soon to be Cap1. It's still a Walmart card.
Well, I have good news, I finally got my letter from Capitol One for my Wal-Mart Mastercard. Whew, what a relief.
@firefox100 wrote:I also Got my letter from Capital One, the new terms are not that great. Capital one acting like real subprime lending. Quick cash that you can get at wallmart with no intrest if you pay whole balance off going away with Capital One. The letter points out that cash advances will have intrest from day you get cash advance. I like using the quick cash at wallmart and pay it befor end bill comes.
Fortunately, if I needed cash like that, I do have my Discover card. But I can understand the frustration that would cause for people.