Tips for getting Walmart card upgraded to MC?

[Anonymous]

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@simplynoir wrote:

It hasnt changed. Any Synchrony product where it changes from a store to MC version is a new tradeline with the old store card being closed.

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Uggggh nevermind! I didn't realize it would be a new account. Not sure I would want an upgrade in that case, boo.

[Anonymous]

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@SunriseEarth wrote:

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@Anonymous wrote:

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@simplynoir wrote:

It hasnt changed. Any Synchrony product where it changes from a store to MC version is a new tradeline with the old store card being closed.

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Good to know.  While a Walmart MC would be better than the store card, I bet the reward rate for non-Walmart purchases is likely poor, so it may not be that useful of a card.  Plus a new account penalty can hurt rebuilders (lowers AAoA, 0-6 months new account penalty on FICO score, etc).

OP -- you may qualify for a superior rewards card elsewhere, unless the Walmart MC gives you a better reward on Walmart spending than the store card.

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The Walmart MC offers 3% when used at walmart.com, 2% on Murphy USA/Walmart gas, and 1% in-store and everywhere else.   Depending on what features you like about the Walmart store card, you have a lot of other worthy options to consider:

If you like the cash-over purchase feature, you could also get that with Discover It and you'd have the same 1% cashback rate.   If you use the in-store special financing feature of the Walmart cards, you could get that with Blispay.   Blispay has a better cashback rate of 2%, but has a higher threshold for special financing (purchases over $199 vs. Walmart's $149 threshold).  It should also be noted that special financing purchases on the Walmart cards do not offer cashback, whereas Blispay does.

And yes, there are plenty of cards that offer better than 1% at Walmart, if you don't care about the special features above.   There are a good amount of gen spend cards with 1.5% to 2% rates and better.  Also, if your Walmart codes as "grocery", you have many 3%+ options as well.  

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Oh I have a Discover IT along with other rewards cards, I mostly do Walmart for the special financing offers around the holidays etc. I just figured it was always better to have the upgraded version of a store card.. maybe not.

[SunriseEarth]

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@Anonymous wrote:

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Oh I have a Discover IT along with other rewards cards, I mostly do Walmart for the special financing offers around the holidays etc. I just figured it was always better to have the upgraded version of a store card.. maybe not.

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Not always.   It's possible that some models of FICO score bankcards higher than store cards, but one also needs to consider the drop in AAoA with how Sync does their "upgrades".   If you're getting something that would be much more useful to you, then it might be worth it.  If not, it might be best to opt-out.

For example, my Care Credit account upgraded to a Care Credit MC.   For me, that made it a much more useful card and I decided to activate it (after a successful Chase Freedom app so as not to risk the wrath of 5/24).   However, if JCPenney offered me the MC "upgrade", I wouldn't take it, because JCP is one of my oldest open CCs at this point.   Also, I'd really have no need for another MC without some sort of benefit, which I just don't see with their card.  

So there are many factors to consider with Sync upgrades.   For other lenders who keep the account history, such as TD, it's a no-brainer to take the upgrade.  

[Anonymous]

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@Meanmchine wrote:

Blispay suxs.  So far, no CLI options for Blispay so whatever SL you get, youre stuck at it. You can be approved for a $500 Wally MC and a 6 months later, your CL could be $10k+ Personally, Id rather have the upward mobility. Wally MC can be opened with a 630ish TU score where Blispay you need a 680 EX score

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Just depends what you value.   For me, a CLI has no value (unless you need to spend $10K at Walmart) whereas better rewards has real value every month.    

Increasing total CL doesn't represent upward mobility IMO....