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Walmart - CLOSED!

Treasurecredit
Established Contributor

Re: Walmart - CLOSED!


@cr3dit5harkwrote:
I am going off the idea that they have somehow changed policy on their minimum credit score criteria to extend credit to the consumer and that goes to those who even have the card already opened up.

Now that could be ruled out easily by any other person who has less of a score than myself and there card is still open and alive!

I would be curious to see if all the others who have their card shutdown on here out of nowhere have maybe something like mine or just below 700.

Still seems odd to me but it is just a theory for sure. I actually was due on here to review my credit reports so I pulled all 3 this morning.

No significant changes in any of the FICO scores, if anything my FICO 9 scores went up a tad bit. No new negative or derogatory info. Utilization is down to 23% from previously being 25% last month.

I really do not see anything on any of the 3 reports and especially the EX that stick out to cause a problem.

I don't think Walmart is closing accounts citing an EX score of 667 as being too low. Many of were approved with much lower scores. That would be big jump to consider 667 as too low. I think something else is going on.

 

Have you added a lot of new accounts?

Message 11 of 48
joe8185
Valued Contributor

Re: Walmart - CLOSED!


@Treasurecreditwrote:

@cr3dit5harkwrote:
I am going off the idea that they have somehow changed policy on their minimum credit score criteria to extend credit to the consumer and that goes to those who even have the card already opened up.

Now that could be ruled out easily by any other person who has less of a score than myself and there card is still open and alive!

I would be curious to see if all the others who have their card shutdown on here out of nowhere have maybe something like mine or just below 700.

Still seems odd to me but it is just a theory for sure. I actually was due on here to review my credit reports so I pulled all 3 this morning.

No significant changes in any of the FICO scores, if anything my FICO 9 scores went up a tad bit. No new negative or derogatory info. Utilization is down to 23% from previously being 25% last month.

I really do not see anything on any of the 3 reports and especially the EX that stick out to cause a problem.

I don't think Walmart is closing accounts citing an EX score of 667 as being too low. Many of were approved with much lower scores. That would be big jump to consider 667 as too low. I think something else is going on.

 

Have you added a lot of new accounts?


I would look at that, too. App sprees have been known to scare issuers such as Chase, and there were a couple of articles from Experian posted yesterday about "bust out" fraud, for which app sprees are considered one of the warning signals (in conjunction with others), that are worth considering.

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 12 of 48
CapCredit72
Established Contributor

Re: Walmart - CLOSED!


@Meanmchinewrote:

There are dozens of reasons why this could have happened to you. You have given us no information to go on here. "Paying on time" is not the same as PIF. And Synchrony closing accounts randomly is not a true statement. There is ALWAYS a reason. The answer is in your credit report somewhere.


Exactly! I do however see that OP's scores are low not sure why but that may hint at the possible AA or something in his or her credit report.

Gardening 2020-2021
Total CL 113k+ UTIL 0.01% Uber Visa, DoubleCash, Quicksilver, Discover IT, Freedom Ulimited, Blue Cash, Premier Rewards GOLD
Message 13 of 48
cr3dit5hark
Frequent Contributor

Re: Walmart - CLOSED!

No recent accounts since maybe late-December I believe and my scores were lower when I got approved for the Walmart card as well.

It’s all crazy but I’ll get a letter soon enough and we will all know... hopefully...
Starting Score: EQ 606 TU 623 EX 598 - April 17'
Current Score: EQ 644 TU 664 EX 667 - May 18’'
Goal Score: EX 750 TU 750 EX 750


Take the myFICO Fitness Challenge
Message 14 of 48
Meanmchine
Super Contributor

Re: Walmart - CLOSED!

I know EXACTLY what is on my reports, I know my current util down to the nearest dollar, the reason why my scores are the way they are and when they will be going up. Synchrony didnt wake up yesterday and say "we are below quota on our random closings. Who is next up?" There is a reason why you were picked.

 

If you want a clue as to why Sychrony MIGHT have done this, google "Experian Bust Out" and see how many triggers you have

 

 


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


"Survival kit contents check. In them you'll find:

- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 15 of 48
Remedios
Moderator

Re: Walmart - CLOSED!


@Meanmchinewrote:

I know EXACTLY what is on my reports, I know my current util down to the nearest dollar, the reason why my scores are the way they are and when they will be going up. Synchrony didnt wake up yesterday and say "we are below quota on our random closings. Who is next up?" There is a reason why you were picked.

 

If you want a clue as to why Sychrony MIGHT have done this, google "Experian Bust Out" and see how many triggers you have

 

 


You hungry? 

Message 16 of 48
gdale6
Moderator

Re: Walmart - CLOSED!

If there have been excessive accounts opening in the last year or so then this is a good possibility

 

https://www.experian.com/assets/decision-analytics/white-papers/bust-out-fraud-white-paper.pdf

Message 17 of 48
cr3dit5hark
Frequent Contributor

Re: Walmart - CLOSED!

I don’t think I’ve ever said they picked me in error. The whole point of this post was just to toss around ideas amongst ourselves as to why not only this happened to me but also to many others recently on here.

As for looking up Experian Bust Out, I saw many sources point out the score mostly correlated with bank cards, not store cards. So if that is true, then not sure that it fits into this as the Walmart card I have is the store card version and not a Visa/MC.

I’ve looked over my report many times this morning and still can’t pin point anything that stands out as shouting to cancel all accounts.

As I’ve said already and many others have as well. We all know that I wasn’t randomly chosen by SYNC to have my account closed. One piece of information or more from what they got back from EX made them come to that decision but of course if we can’t see that from our own view with the report, we then they have something on their side we don’t get to see or know about unless they decide to disclose that in the letter but that’s always a toss up.
Starting Score: EQ 606 TU 623 EX 598 - April 17'
Current Score: EQ 644 TU 664 EX 667 - May 18’'
Goal Score: EX 750 TU 750 EX 750


Take the myFICO Fitness Challenge
Message 18 of 48
Treasurecredit
Established Contributor
Message 19 of 48
Meanmchine
Super Contributor

Re: Walmart - CLOSED!


@Remedioswrote:

@Meanmchinewrote:

I know EXACTLY what is on my reports, I know my current util down to the nearest dollar, the reason why my scores are the way they are and when they will be going up. Synchrony didnt wake up yesterday and say "we are below quota on our random closings. Who is next up?" There is a reason why you were picked.

 

If you want a clue as to why Sychrony MIGHT have done this, google "Experian Bust Out" and see how many triggers you have

 

 


You hungry? 


 

You treating? Smiley Happy


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


"Survival kit contents check. In them you'll find:

- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 20 of 48
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