Walmart..What To Do?

[Medic2525]

Hi everyone-

So I am wondering if I should apply for the Walmart store card. I am in the process of rebuilding my credit and have made Leaps and Bounds in that area bringing my score up close to a hundred and fifty points in less than a year. I guess what I'm truly wondering is if I will be approved or not. Any insights from anyone?

Equifax (MyFICO) 603

Transunion (MyFICO) 601

Experian (MyFICO) 590

CREDIT:

CapOne Secured $235 limit opened 5/18- not yet reported

Discover IT Secured $200 limit opened 2/18 - reporting

Discover IT Chrome Student unsecured 5/18 (just got this bad boy) $1000 limit

Open Sky Visa Secured $200 limit opened 5/17

Blaze MC Unsecured $350 limit opened 12/17

STORE

Childrens Place Rewards $250 limit opened 12/17

Simply Be Card $200 limit opened 12/17

JD Williams Card $200 limit opened 12/17

Ny&Co Runway Rewards $250 limit opened 5/18

Victorias Secret Pink $200 limit opened 5/18

I have average of 6 to 7 baddies across all 3 reports. My enquiries averaged about 20 and that is not from me being credit hungry that is from last year when I bought my car the dealership ran my credit on August 7th 12th and 24th. I spoke to the dealer on the phone on August 7th and gave him my verbal permission we came in on the 12th he said he could not find my information in the system and ask me for my social and address little did I know that he was rerunning my credit that was the day I bought the car. Without those I would probably only have 7 to 8 inquiries. Keep in mind I have never mist any of my payments for the above-referenced accounts including my car loan. Do you think I have a shot at the Walmart card? I do plan on closing one of the toy limit store cards if I do get approved for a Walmart card in fact I'm a close two to three of them. Any insights on this would be much appreciated- thank you.

[c00mtg]

To be honest, i would not apply for the wally card.  Work with what you have to bring your scores up, you have enough cards to do that.  I don't think the wally card is needed at this time.

[farkedup]

A walmart CC was one of the first ones I picked up after a bankruptcy and its probably the worst card I have. The interest rate is terrible and the rewards and nearly non existant. If you really want a store card look at one that at least gives you proper 0% financing offers and real rewards. Mine is up to a $5k limit about 18 months after opening it with a $1k limit. Sit tight and don't let anymore inquiries hit. you want to get into the chase 4/24 mark about as soon as you can. Discover will take great care of you once you're good enough to go unsecured. Its my favorite card right now. I had a pre approval offer for a savor card that I wanted but I'm waiting to hear back on approval for that. I'm just under 3 years after a BK and sitting at $66k of available credit. Depending on what baddies you have you may want to follow the thread of BK to 700 in 2 years. the BK is a singular full reset that can give you a proper clean start.

[Medic2525]

What is the 4/24 mark? I have been working on my negatives I have gotten a bunch removed. It's these last few that are just hanging on tight but they only have about 2 to 3 years on them left anyways. I do think I have a good portfolio as of right now especially since I've only had the Discover Card secured version for 4 months and they approve me for a student Chrome for a thousand which I got and I love. For some reason discover absolutely loves me LOL. I know they say the inquiries on your credit report when you buy a car count as one but it most definitely did not with mine as mine is still showing about 20 of them. I wrote letters to each Finance Company telling them I didn't authorize any other credit pulls. However I would love to get in with Chase or was sitting I just need a store card that I can use because the store cards I have my girlfriend is only one who can use them. I have seen so many mixed reviews of people getting approved for the Walmart card that I'm terrified to try LOL. I see people in the mid 500 get approved and I see people in the mid 600 hit the 9. Walmart is just all over the place I can pay them down

[HeavenOhio]

Chase will likely deny any applications if one has opened five or more cards within the past 24 months (5/24). The best tack for getting a Chase card early in one's build is to move slowly. Otherwise, the alternative is to wait until one is at 4/24 or lower.

Auto inquiries made within a certain period of time are scored as one inquiry per bureau, provided they're properly coded as auto. That time period may vary by which version of FICO is used. However, all of the inquiries appear on one's reports. Lenders can treat them any way they like.

[Brian_Earl_Spilner]

Chase won't approve you if you've been approved for 2 cards in 30 days (2/30) or 5 cards in 24 months (5/24). Synchrony probably won't touch you because of the baddies, so don't bother with the Wal-Mart. When a dealer shotguns your info, it will be temporarily counted as only 1 or 2. After 30 days, each one counts as a separate one. Its basically impossible to get them removed. If you apply for credit and get denied for inquiries, you can recon and explain the car loan, but your issue will be your baddies. Especially if they get sold to another collection company and they report it. That's another 7 years per account. Though, I haven't heard of that happening in a while. My last experience with that was my student loans.

[CaptainJ]

Walmart was one of my very first cards during my rebuild, and I'm quite happy I got it.  I dont know that it does me a lot of good now, but I fairly quickly got the SL up to $5,000 by making sure to call their "Credit Solutions" number, which I think was quite helpful to my rebuilding efforts.  

I have a bankruptcy on my report, and at the time had some things that were included in the bankruptcy.  I don't know what your negative items are, so I cant comment.  I honestly dont remember reading about Synchrony being hard to get in with when I started my rebuild, but maybe it has recently changed?

What I HIGHLY recommend is doing a websearch for "credit pulls database".  It should be the first result.  Click on it, scroll down, type in "walmart" next to where it says "creditor name".  You dont need to enter anything else.  Then click the "search" button, and you will see the results of people who were approved or denied, as well as their spending limit, and the FICO score that was pulled for them.  I believe Synchrony usually uses TU, unless that has changed.  Some people also include other information like any baddies they have on their report, if the approval was instant or if they had to call in for something, etc.  Give it a look and let us know how you think you compare to the results you see listed.

PS One thing I like about Walmart(not sure if it is the same with all store cards, Ive only used Synchrony store cards) was that if I wanted to put spend through it, I could pay it off at the store.  That might not be a big deal for most people, but for my specific situation, it was helpful.

[Medic2525]

First and foremost, THANK YOU to everyone who has replied. I love this site snd honestly was able to start my rebuild about a year or so ago bc of ppl like u all who are just a wealth of information on this stuff.
Upon looking at credit pulls database, it is like 95% TU. There are ppl in there that have 8 collections AND 120 day lates with a 565 score and got it lol. That was another reason I wanted the Wally card is bc with responsible use they seem to take care of u somewhat.

[CaptainJ]

---

@Medic2525 wrote:
First and foremost, THANK YOU to everyone who has replied. I love this site snd honestly was able to start my rebuild about a year or so ago bc of ppl like u all who are just a wealth of information on this stuff.
Upon looking at credit pulls database, it is like 95% TU. There are ppl in there that have 8 collections AND 120 day lates with a 565 score and got it lol. That was another reason I wanted the Wally card is bc with responsible use they seem to take care of u somewhat.

---

And thanks for your post!  It put a smile on my face.  I really do mean the quote in my sig line, it feels good to see others feel encouraged.  The credit pulls database can be very helpful, especially when the folks take the time to list all those things like you mentioned.  I imagine you can do a search on here for "Walmart", maybe limit it to the applications thread, and also find data with even more details.  It will just take longer, but it may be worth it to you if you dont yet feel sure about pulling the trigger.

If you wouldnt mind sharing what you decide to do when you decide, it can be helpful to others who may be in your shoes, and also would be interesting to those who are just curious, like me.  Best wishes! 

[Newtophilly]

I'm now also following this posting - thanks everyone on the site, I'm looking to hear what happens on this walmart card.