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Walmart - CLOSED!

Gmood1
Community Leader
Super Contributor

Re: Walmart - CLOSED!

Sorry OP for your troubles. I've noticed there are quite a few members posting closures.
I wonder how many use the auto pay full amount feature?
I have all of my synchrony cards set to auto pay the full balance.
I haven't used my Walmart MC since November of last year. Lowe's and the Marvel cards do see almost monthly usage.
Sometimes I wonder if the lenders take note of customers that use the auto pay feature?
I've apped for waaaaaay more credit than you OP. I don't think new credit accounts has anything to do with it either.
Maybe they've changed the algorithm that predicts a default? You were PIFing monthly and then your payment pattern changed. I'm just thinking out loud here, I have no idea why all the closures.
Synchrony can be your best friend or your worst enemy depending on the stock market or the day of the week.
Message 31 of 48
Kingy
Established Member

Re: Walmart - CLOSED!

None of my accounts have been closed my score is 700's across all CRA's.
Message 32 of 48
cr3dit5hark
Frequent Contributor

Re: Walmart - CLOSED!

Quick update!

Still no letter as of today. But no other accounts have been closed. Weird cause they gave me a CLI on my Sam’s Club card automatically from $600 to $7000, so not sure what the hell that was about.
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


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Message 33 of 48
Dalmus
Valued Contributor

Re: Walmart - CLOSED!


@cr3dit5harkwrote:
Quick update!

Still no letter as of today. But no other accounts have been closed. Weird cause they gave me a CLI on my Sam’s Club card automatically from $600 to $7000, so not sure what the hell that was about.

Its been said in dozens of posts around here... Synchrony is a strange unpredicable beast!

NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC:  $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $6.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $2.8K | BotW: $3K


Current FICO 8 Scores: EQ: 822| TU: 792 | EX: 802


Message 34 of 48
joe8185
Valued Contributor

Re: Walmart - CLOSED!


@Dalmuswrote:

@cr3dit5harkwrote:
Quick update!

Still no letter as of today. But no other accounts have been closed. Weird cause they gave me a CLI on my Sam’s Club card automatically from $600 to $7000, so not sure what the hell that was about.

Its been said in dozens of posts around here... Synchrony is a strange unpredicable beast!


It's almost as if Synchrony had different protocols for different cards...

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 35 of 48
donneumeyer
Established Member

Re: Walmart - CLOSED!

i had 2 walmart cards and 1 was shut down last week. for everyone who is wondering why i can tell you 98%positive. asking for too many credit line increases in a very short amount of time.  i know it happened to me. i learned my lesson. if you think you left money on the table wait till next month but as always YMMV.

Message 36 of 48
AverageJoesCredit
Mega Contributor

Re: Walmart - CLOSED!

Haha, 600 to 7k and they want to close your Wally. Thsts Sync for you. I think its a very good idea for people to stop requesting multiple increases across all platforms within 1 month . I think msybe a 3 or 4 month try might be more comfortable but again thats just my opinionSmiley Wink
Message 37 of 48
Loquat
Moderator

Re: Walmart - CLOSED!


@donneumeyerwrote:

i had 2 walmart cards and 1 was shut down last week. for everyone who is wondering why i can tell you 98%positive. asking for too many credit line increases in a very short amount of time.  i know it happened to me. i learned my lesson. if you think you left money on the table wait till next month but as always YMMV.


Until this mentality changes then we will continue to read post of such.  There is no such thing as "money left on a table".  I learned this the hard way.  It's credit, nothing more, nothing less.  Increased lines allows us to spend at a higher level (which is great if needed) or allows up to pad utilization to hide the amount of debt we're carrying.  I know many will say that they PIF which is great but for those 20 something odd days that we float that credit, we're in debt.  Regardless of the ability to pay it back on a moments notice, until that money is repaid, it's debt.    

 

I don't want come off as a hypocrite because I to use to hit that button more than I needed to for absolutely no good reason.  Mostly because I too thought that I was "leaving money on the table".  But you know what I ended up with...extremely high limits on very basic/useless store/fuel cards.  After all, I needed that $10K line on BP gas card...doesn't matter than I rarely charge over 100 bucks.    But I learned a lot from sticking around here and reading lots of informative post.  Stick around here long enough and you'll learn a ton.  You'll eventually get over the mentality of "leaving money on the table".

Message 38 of 48
UncleB
Moderator

Re: Walmart - CLOSED!


@Loquatwrote:

@donneumeyerwrote:

i had 2 walmart cards and 1 was shut down last week. for everyone who is wondering why i can tell you 98%positive. asking for too many credit line increases in a very short amount of time.  i know it happened to me. i learned my lesson. if you think you left money on the table wait till next month but as always YMMV.


Until this mentality changes then we will continue to read post of such.  There is no such thing as "money left on a table".  I learned this the hard way.  It's credit, nothing more, nothing less.  Increased lines allows us to spend at a higher level (which is great if needed) or allows up to pad utilization to hide the amount of debt we're carrying.  I know many will say that they PIF which is great but for those 20 something odd days that we float that credit, we're in debt.  Regardless of the ability to pay it back on a moments notice, until that money is repaid, it's debt.    

 

I don't want come off as a hypocrite because I to use to hit that button more than I needed to for absolutely no good reason.  Mostly because I too thought that I was "leaving money on the table".  But you know what I ended up with...extremely high limits on very basic/useless store/fuel cards.  After all, I needed that $10K line on BP gas card...doesn't matter than I rarely charge over 100 bucks.    But I learned a lot from sticking around here and reading lots of informative post.  Stick around here long enough and you'll learn a ton.  You'll eventually get over the mentality of "leaving money on the table".


+1   Well said.  Smiley Wink

Message 39 of 48
longtimelurker
Mega Contributor

Re: Walmart - CLOSED!

On bust-out fraud:  it's hard (well for me) to avoid the impression that since this paper has been linked here, people are citing it more and more as a plausible reason for particular causes of AA.   Remember the paper is the equivalent of "We invite you to apply for this credit card": they are SELLING an algorithm that might predict the "growing" problem of bust-out fraud.  Operators are standing by.

 

We don't know that Sync, or any other particular issuer,  decided to purchase this score.

 

 

IMO, all the old things are still happening, and as others have indicated, policies change, although I would view it more as parameter setting.  Credit cards are sensitive the economy, and as the stock market has jitters and interest rates rise, perceived risk increases so that scores/reports/behaviors that were previously OK may now attract CLD or closure.

 

 

Message 40 of 48
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