Walmart Credit Card

[glotee]

Hello Forum Associates

I would like to know whether other consumers have gone through this?

I pay my Walmart account on time and sometimes extra payments. I just found out that they decreased my credit limit from $500.00 dollars to $200.00 dollars

credit limit.  I was so upset because I gave them no reason for the company to do this.  After talking to a Representive Supervisor of Walmart

he told me it was because of something on my credit report that caused the decrease in my credit limit.  I told him but I have an outstanding account with Walmart

however  I told him but I just got an increase on 2 of my credit accounts without asking. But he told me that maybe in about 6 months the credit limit will go back up.   

I don't know what else to do.  I paid the account on time but recently I had my credit pulled and it took my score down within 3 days of applying for a car loan for my daughter but we decided not to get the vehicle due to the high interest rate on the loan.  I wanted to end the Walmart credit account but it would do more damage on my credit score than good at this point.   Thanks so much.  

[nicholasyud]

Contact their backdoor and be ready to explain situation.......they seem easy to deal with......

[dddewdrop]

   I would not cancel it. Hold on to it. You get a free FICO score and cancelling it will just lower your overal CL and increase your overal Util% when/if you carry a balance. What are your credit scores like? I would just hold onto it and as your scores improve they should raise the CL again. Good luck~

[glotee]

What is their backdoor? how do I contact them? Do you have their contact number?

[glotee]

Thanks so much.  I plan to hold on to the Walmart card until the scores go back up.  my score was 674 and fell to 628 after the devastating pull on my credit last week.

Hopefully things will get back to normal within a month from now.

[madmann26]

There is more to this.

Walmart SP'd you and saw something they didn't like, despite how you treat them. What does your profile look like? Any recent baddies? Util?

Creditors are well within their rights to limit their risk, which is what they have done with you.

[09Lexie]

I agree with madmann26. The CSR said it was something on your cr You also mentioned you were car shopping, inq's could have also decreased your CS.

They should send you a letter regarding the AA but you could also request a copy if your TU based on their action. Review your cr and make sure your cr has not changed.

Good luck.

[ds3]

I personally have about had enough of walmart. I got the card last November, have PIF every month, scores have gone up, and they will not give me a CLI...I've been stuck at $600 since I opened it. My wife opened her's at the same time and has had 2 CLIs since. I opened this account because EVERYONE on here lauds they're generosity...haven't seen it yet. It's getting frustrating.

[kanokphan]

i've got denied from them yesterday lol!

[somnipotent]

I've never seen an HP pull someone down 46 points, though I realize this is completely antedotal.  I'd go through those CRs with a fine toothed comb.  Something's not adding up and creditors don't initiate an AA for the sake of it.