Wal-Mart store card question

[mlibby]

I opened these all sense Dec 1st. 

Wal-Mart

Amazon

Banana republic

Paypal smart connect

Care credit

And target that isn't being reported

[mlibby]

Trying to build up a postive credit report with numerous open lines with in two years.

[FinStar]

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@mlibby wrote:

I opened these all sense Dec 1st. 

Wal-Mart

Amazon

Banana republic

Paypal smart connect

Care credit

And target that isn't being reported

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Not to be the bearer of bad news but it seems that GECRB is not going to budge on giving you access to those accounts (only to make payments via phone) until their review is completed at some point in January.  It sounds like you poked the bear, a few times.

[mlibby]

Probably bad but I figured open up the ones I will use and make timely payments on the accounts and keep the uti low for 2 years then watch my credit scores go up. 

[mlibby]

I have no issue making the payments on it at all just don't want the accounts closed. Anyone have suggestions besides don't take it anymore inquires

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@mlibby wrote:

Probably bad but I figured open up the ones I will use and make timely payments on the accounts and keep the uti low for 2 years then watch my credit scores go up. 

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[LearningMoreAboutCredit]

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@mlibby wrote:

I opened these all sense Dec 1st. 

Wal-Mart

Amazon

Banana republic

Paypal smart connect

Care credit

And target that isn't being reported

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Yeah, that would probably be the culprit.  My best advice at this point is slow down.  Credit building is a marathon, not a sprint and never obtain all of your credit with one creditor in a short time span.  Let this be a lesson to learn from.  Rebuilding your credit is two-fold; correcting inaccuracies on your reports AND adding new tradelines to replace them.  What's done is done.  Give it some time and if GECRB grants you those lines, let them age and wait 6-12 months before you app for new credit.

Good luck to you in whatever decision you make and the outcome w/GECRB.

[FinStar]

Just gonna have to ride this one out until they finalize their review which could have several outcomes depending on a variety of factors: (1) reopen only 1 account, (2) reopen some of the accounts, (3) reopen some accounts with reduced CLs or (3) closure of all accounts.

[mlibby]

Do they usually close out the accounts?

[FinStar]

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@mlibby wrote:

Do they usually close out the accounts?

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Yes, it's been known to happen.  Just depends on the outcome of their internal review.

[mlibby]

Lovely thanks for the input