Re: Walmart upgrade to Discover Question!!

Anonymous · ‎01-07-2013

My husband is in the middle of obtaining a mortgage. We have been really anal about his credit and have been paying balances off, etc. My question is I logged into his account to pay his bill this morning and a pop up appeared saying he was selected for a Discover upgrade.

I have not accepted it yet because I want to know:

Is the upgrade a hard or soft pull?

Has anyone got an increase when upgraded?

Will the upgrade hurt his score of AAOA??

Anyone with experiences please share because he wants the discover but we don't want to hurt his CR in anyway since we are about a month or so from closing...

jsickz32 · ‎01-07-2013

I think the only thing that happens is a new account shows up on your report so yeah it would hurt his aaoa.

Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)

tcbofade · ‎01-07-2013

Yes, it WILL affect is AAoA.

The Discover account will show up as a new account.

If it were me, I'd just let it pass....or wait until AFTER the close.

Priorities, remember?

Fico 8 11/01/25: EX 795, EQ 796, TU 795.
Fico 9: EX 812 04/15/25, EQ 804 04/08/25, TU 792 02/15/25.

Zero percent financing is where the devil lives...

Anonymous · ‎01-07-2013

@tcbofade wrote:
Yes, it WILL affect is AAoA.

The Discover account will show up as a new account.

If it were me, I'd just let it pass....or wait until AFTER the close.

Priorities, remember?

Priorities are important that's why I haven't done anything and asked here first for clarification. We want our house first and foremost! Thanks for the info.

Anonymous · ‎01-07-2013

Any other experiences????

bmd0224 · ‎01-07-2013

@Anonymous wrote:
My husband is in the middle of obtaining a mortgage. We have been really anal about his credit and have been paying balances off, etc. My question is I logged into his account to pay his bill this morning and a pop up appeared saying he was selected for a Discover upgrade.

I have not accepted it yet because I want to know:

Is the upgrade a hard or soft pull?
Has anyone got an increase when upgraded?
Will the upgrade hurt his score of AAOA??

Anyone with experiences please share because he wants the discover but we don't want to hurt his CR in anyway since we are about a month or so from closing...

I had the same thing pop up in my account page. What they do is close the old card and open the new discover card with a higher limit (YMMV). It is NOT an inquiry but it is a NEW account. Any Credit Analyst will see the change and know it was an upgrade. Although it will lower the AAoA, as it did mine. I think it's worth it if you plan on using the card outside of WALMART but if not it is not worth it.

01/11/13:
EQ Fico: 716 (from myfico)
TU Fico: 719 (from Walmart)
EX Fico: 719 (from myfico)

Chase Sapphire Pref. II AMEX Platinum II Amex PRG II Amex SPG II Citi AAdvantage II Barclays US Airways II Chase Freedom

Jutz · ‎01-07-2013

Everything said here is accurate. No hard pull, will open a new card and close your old one. I would not even think about doing it if you're in the middle of obtaining a mortgage. The offer will be there, wait it out.

Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
Starting total revolving credit: $1100 | Current total revolving credit: $36,700
Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014

Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000

Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL

Anonymous · ‎01-07-2013

Thanks so much for everyone's input. We will wait it out until after closing in a couple of months. By that time we will have eliminated about 6k in debt anyway so his CR will look even better. IF we decide to move forward with it, no guarantees with that one. The house is waayyy more important than ANY CC!

chan85 · ‎01-07-2013

Another thing, I got the preapproval several months before I got the card, so its possible you won't get the actual card until after the closing, and then I think it won't show up on the credit report until you activate it.

Current Debt Management:
$15k Trinity Financial Management (scheduled pay off late 2021)
$10k NFCU
$350/mth Bridgecrest Auto Loan
Goals: Pay off credit card debt & buy a new home before end of 2020

Long Term Debt:
Fed Loans - $150k
Navient - $100k

Taking a "if God don't do it, it won't get done..." approach to paying these off.

youngandcreditwrthy · ‎01-07-2013

Eh... I'd accept it. Have you seen how difficult it is to get that damn upgrade??!??! It is marked as "transferred" on my credit report, although a new line was def open. A new, significantly higher credit line is a better asset than worrying about aaoa. Accept, accept, accept!!!!!!

Walmart upgrade to Discover Question!!

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Walmart upgrade to Discover Question!!