Walmart Mastercard

[Anonymous]

Hi, I was wondering how to figure the payment on my Walmart Mastercard before the statement comes. At what point does the payment increase from $25 to more? Balance is $750. Last month the payment was $25. Thanks!

[Scupra]

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@Anonymous wrote:

Hi, I was wondering how to figure the payment on my Walmart Mastercard before the statement comes. At what point does the payment increase from $25 to more? Balance is $750. Last month the payment was $25. Thanks!

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Most cards will be a minimum dollar amount or 1-2% of the balance, whichever is higher.

[MakingProgress]

Please don't fall into the minimum payment trap.  Pay as much as you can reguardless of what walmart says.  The more you pay the better off you are, and if you can pay the whole balance then do that.

[DaveInAZ]

I have the Walmart store card, not MC, but Synchrony is pretty consistent with the minimum payment being $25 or 1% of balance. So a $750 balance should have the same $25 min. payment, you'd need to go over $2500 to have a larger minimum payment.

[Anonymous]

Thank you, I'm about to pay it off when my re-fi funds.

[Anonymous]

Thanks

[Anonymous]

Walmart Mastercard alert. These bastards at Syncrony decreased the limit on my Walmart Mastercard from 1800 to 970 without telling me. I noticed when my scores dropped because that increased my credit utilization and lowered my overall credit limit of all cards. I called and they said it was based on my lastest credit report. Well, my credit is better than when I got the card. I bitched them out and they didn't care. So now, I'm hoping that when the Discover Card shows paid these numbers will re-adjust and the scores will rise again. I'm right in the middle of the re-fi on my house. This was very shocking and I've never had this happen beofre on any card.

[Anonymous]

If you don't pay in full every month the best practice is to pay 3 times the minimum payment and stop using the card.  In your case, a $75 payment.

I have a cousin who just got married.  He was having to supplement his girlfriend's monthly bills using his credit card.  He said she got a tax return of $9,000 for having two kids.  That's how he paid off his credit card in full.

I told him to never, ever, ever depend on something like that to catch up on your bills.  

Treat credit like cash.  If you don't have it at 100% guarantee you're using someone else's money without the ability to pay it back.