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New Walmart Credit Partner

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Valued Contributor

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

Fair point, at least initially. Target has proven to grow after an indeterminate period of time that seems to depend on the individual, and once it starts, the auto-CLIs seem to keep on coming pretty regularly. That’s something CapOne definitely can’t claim to match.


Rose Gold/BCP/Delta Gold/Hilton Surpass/Hilton Honors | IT | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Kohl’s

Heir apparent to the SJ Special (finally got a Disco CLI of $300)

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
Message 21 of 221
Senior Contributor

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

But Target cards don’t tend to grow very large either. I have seen people who put thousands on them get stuck at $1-$2K. 

 

Capital One will likely handle Walmart similar to Kohl’s. Low to start and then steady fixed CLI until a maximum ceiling is hit. 

 

The only true bucketing I have experienced with Capital One was my PlayStation card. It started at $2000 when I got it in 2016 and it was still $2000 when I closed it March of last year. My Platinum credit steps that I PC’d to QS has gone from $500 to $8250 but I only had the QS and PS cards period so Cap was getting all of my spend. My last $2000 CLI was in March of last year and I was denied last time I asked because I SD’d the card in favor of my new ones. 


Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 22 of 221
Regular Contributor

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

One thing about Cap One is ther credit approval is automated and and ther is no one to talk to, with Wallmart mastercard you can talk to some one and work things out. I think some of exectuives at large companys don't know what hell thay are doing. I think Cap one will piss off some customers and this will hurt Wallmart in the long term. I think I will hit up my wmc card for line incres in the next month or two so I can get my linit increas befor Cap One takes over.

Message 23 of 221
Senior Contributor

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


@firefox100 wrote:

One thing about Cap One is ther credit approval is automated and and ther is no one to talk to, with Wallmart mastercard you can talk to some one and work things out. I think some of exectuives at large companys don't know what hell thay are doing. I think Cap one will piss off some customers and this will hurt Wallmart in the long term. I think I will hit up my wmc card for line incres in the next month or two so I can get my linit increas befor Cap One takes over.


I think you are really forgetting that those of us on this site are in the minority. The average consumer isn’t even aware that asking for a higher credit limit is even something you can do and they’re certainly not aware of the impact utilization has on their credit and I hate to say it but this is probably especially true for the vast majority of Walmart’s target demographic. They will take their $300 limit and be happy to have gotten it. 

 

You have to look outside the limited scope of myFICO thinking and see the big picture.  We aren’t profitable for these companies. 


Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 24 of 221
Valued Contributor

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

I do think that Cap One will approve more people with lower scores and income than SYNCH would have, especially on the non MC version.

When I apped the store card in 11, it was for $600. used it frequently and got a CLI to $800. It stayed there for a year or so, and then they sent me an email to upgrade to MC version with $8K CL. Who wouldn't accept it? It's been sitting at $10K CL for a few years now with little use, so I'm not sure it benefits me anymore. Been considering what i should do with it, or just keep putting a charge on it every 6 months. 

 

But with Cap One taking over, who knows what they'll do. Reduce current CLs? I honestly don't need a larger CL on this card, but I certainly don't want a CLD. While I think $500 to $2K CL on a Store card is fairy sufficent for what one might need at Walmart. The MC version should have a considerable lager CL for non Store spend. Also curious if and how the rewards structure might change. 

 

It really is too soon to say whether this change is good or bad. Though from personal Cap One experience, I'm not exactly excited about this. 

 

 

Message 25 of 221
Senior Contributor

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

My Walmart card is also $10k, but fortunately they've never tried to push me into the MC version.

I don't use it much anymore, certainly not enough to justify a $10k CL, 1% rewards doesn't cut it, I have several cards I can use for 2% as my Walmart codes as grocery. I do shop Walmart regularly but just use my Walmart card for a small purchase and cash back.

I'll wait to see what happens with Cap One take it over, but thinking I just may close it, Cap One doesn't let you sit with a high CL with little use to justify it. I think Cap One's focus for Walmart will be approvals for lower credit scores/profiles and lower credit limits.


Fico 08: 720/721/719 TU/EX/EQ
Message 26 of 221
New Visitor

Re: New Walmart Credit Partner

im a new walmart credit card customer, i applied yesterday and will be getting my card soon and also read about this so we will see what happens if and when they sell 

Message 27 of 221
Senior Contributor

Re: New Walmart Credit Partner


@Rjruiiz wrote:

im a new walmart credit card customer, i applied yesterday and will be getting my card soon and also read about this so we will see what happens if and when they sell 


Portfolio seems to be going to Capital One in August. 


Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 28 of 221
Regular Contributor

Re: New Walmart Credit Partner

Hi as I said befor I think Wallmart is making big mistake going over to Cap One. On Sunday I called Symchromy bank to ask for credit line increase on master card from 10K to 12K and got turn down. I called back on Wednesday and ask to talk to credit department. I spoke to guy at cr and after 5 mins of talk to this guy he said I am going to increase your cl to 12K. That is service, try that with Cap One. Customer service at Synchrony bank is much better, again if you piss of your customer base that going hurt your botton line.

Message 29 of 221
Valued Contributor

Re: New Walmart Credit Partner

I'm curious, will Cap 1 reage the account starting the date they acquire it? Or will it retain the age from opening it with SYNCH?

I'd hate to lose the 4.5 year history.

Message 30 of 221
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