Walmart??

[cwwatts1202]

My husband app'd for a Walmart store card in march, denied of course. A friend of mine with worse credit than him was approved for a $200 limit, so I figured maybe he'd be approved. No dice. He has 2 collections, one aging off next month, one were paying tomorrow that they've agreed to delete, he also has a repo from 2008. Our FP cc was stolen and used by his sister in April 2012, we moved may 11th and with moving expenses we couldn't afford to pay the balance she ran up so we settled on it in feb of this year, it was CO we settled for $226, out of a $368 balance. He lost 30 points when that reported settled and closed. His EQ FICO is 584 now. We also have an auto loan always paid on time opened January 2012, he completed the finger hit fresh start acct and is now waiting on the revolving acct to kick in, and he was approved for a cap1 secured with $99 deposit, $200 CL. We paid the deposit about 4 days ago so we haven gotten that card yet. Given all this info, how long should he wait to reapply for Walmart? We only want it for the gas savings lol thanks In advance! Also, if anyone could suggest any unsecured cards he may get approved for based on his CR let me know! Keep in mind he's about to have one collection deleted, and one age off next month which leaves 0 collections! We don't mind waiting till August to apply either if his chances of approval are better with no collections. Oh, and his AAoA is 1.4 years..

[cwwatts1202]

anyone..?

[boomhower]

I wouldn't apply for unsecured credit until he's at a 620.  

[cwwatts1202]

Really? Wow.. I've read stories of ppl getting unsecured with mid 500 scores.. Just can't remember which cards. Guess ill wait and see what kind of bump he gets when these 2 collections fall off and the cap1 and fingerhut revolving report.

[tr1t1um]

I got mine at 605 a couple of months ago. You could try whogavemecredit.com to see scores walmarts(GECRB) approving at.

Good Luck

[tr1t1um]

I would wait until the collection is off the report and the new lines are reporting.

[myjourney]

IMHO wait until a month after CO falls off and try again after CR updates 

[09Lexie]

+1

[LS2982]

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@boomhower wrote:

I wouldn't apply for unsecured credit until he's at a 620.  

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This ^^^^^^^^^^^^^^ 

[Jasir]

My advice seems to go against what others are voicing, but I suggest he apply for the Bank of America 123 card (after the collections have fallen off!).

If he doesn't qualify at that time, BOA may likely counter with a 99/500 partially secured card (you pay $99 collateral, BOA gives you $500 CL). Use this wisely and BOA will gradutate it to an unsecured card after about 12 months of great history--he'll have an unsecured card and help his score bounce back, too.

I apped the 123 card in April 2013 with a FICO of 586 (and some baddies showing); denied, but received the 99/500 invitation. Got Walmart approved on June 4th, 500 CL.

Read my siggy, you'll see my credit journey so far.