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New Walmart Credit Partner > Capital One

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Anonymous
Not applicable

Re: Have you received letter from Cap One about Walmart Card?

The MasterCard version offers 1% back on everything. 2% at Murphy's. I was sitting in my local credit union once getting a car loan and I overheard another employee trying to sell their credit union house credit card. He replied he used his Walmart card everywhere and makes about 300 a year in statement credits from it. I was thinking wow he puts a lot of spend on his Walmart card @ 1% back.
Message 211 of 332
AverageJoesCredit
Legendary Contributor

Re: Have you received letter from Cap One about Walmart Card?

Person could have been shopping online and getting 3%Smiley Wink
Message 212 of 332
Anonymous
Not applicable

Re: Have you received letter from Cap One about Walmart Card?


@AverageJoesCredit wrote:
Person could have been shopping online and getting 3%Smiley Wink

That's what I thought at first, too! Then after hearing more of the convo he talked about how he uses it everywhere he goes and said he never shops online because he doesn't trust his card number on the internet (She was talking to him about how great their fraud protection is). She was trying so hard to get him to switch to the credit unions credit card (it has a point reward system). He wanted simplicity: automatic statement credits. Some people don't want to think about their rewards I guess lol. 

Message 213 of 332
staticvoidmain
Established Contributor

Re: Have you received letter from Cap One about Walmart Card?


@Anonymous wrote:

Some people don't want to think about their rewards I guess lol. 


I think most people do not even care about rewards. We are in the really small minority.

Message 214 of 332
Anonymous
Not applicable

Re: Have you received letter from Cap One about Walmart Card?


@staticvoidmain wrote:

@Anonymous wrote:

Some people don't want to think about their rewards I guess lol. 


I think most people do not even care about rewards. We are in the really small minority.


Very much so. It blows my mind how many people I have to explain the concept of credit card rewards to. Most people I know use debit cards for everything, especially those around my age and younger (Millennial and Gen Z). 

Message 215 of 332
Anonymous
Not applicable

Re: Have you received letter from Cap One about Walmart Card?

I understand some people being hesitant to use CCs, whether it be they just don't want to be temped to rack up debt. Or they're still in the mindset that you only use them in an emergency or large purchases, not everyday spend for $5 to $20 at a time. I was this way for a number of years until I found this place, nowI use them exclusively. Outside of a few Debit card transactions.

 

As fro the guy above's conversation about using the Walmart card everywhere. There are better reward cards out there that earn more, so I would hardly see this one as a simplicity factor. As far as no AF cards go. 

 

Yeah, I'd still be among those if I never found MyFico. Though I'd probably have 5 fewer Cards. lol

I still cannot convince a friend of mine to get into the game. Even after I've told him how many points I have, and how they play into reducing thre cost of travel. Considering how frugal he is I thought that idea would appeal to him. He's still under the impression you're not supposed to haev more than a few CCs. oh well

Message 216 of 332
tboy1977
Regular Contributor

Re: No Walmart Special Financing?

What worries me is I had the Walmart CC for 3 years.  I had a Cap 1 card charge off.  Will I lose the CC when it becomes Cap One.  It's only a $150 CL, but it's history on my report and "closed by lender" looks bad

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: Julty 2019: TU - 655, EX - 619, EQ - 640
FICO Dream Scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 22% APR auto loan (Mar 2017), Secured [Coke (4000), Discover (1000)], Unsecured [CreditOne $1500, Walmart $150, Target $200], World Finance: $1500, Courtesy Finance: $700, Speedy Finance: $1200 (charged-off)
Message 217 of 332
Anonymous
Not applicable

Re: No Walmart Special Financing?


@tboy1977 wrote:

What worries me is I had the Walmart CC for 3 years.  I had a Cap 1 card charge off.  Will I lose the CC when it becomes Cap One.  It's only a $150 CL, but it's history on my report and "closed by lender" looks bad


thats why i closed mine but it only had 5 months history 

Message 218 of 332
AverageJoesCredit
Legendary Contributor

Re: No Walmart Special Financing?

Closed by lender doesnt necessarily look bad on a report. Many reasons could be had and most wont even see itSmiley Wink
Message 219 of 332
Anonymous
Not applicable

Re: No Walmart Special Financing?

thats right,AJC,  my closing the account was more about being blacklisted on cli than closed

by grantor . i must have had a issue back when they were ge money bank .this was the first synch account i ever had

but have been messing with credit on and off for over 30 years

synch seemed to be very generous by a over 100 point fico tu 08 increase  netted me 0 cli 


@AverageJoesCredit wrote:
Closed by lender doesnt necessarily look bad on a report. Many reasons could be had and most wont even see itSmiley Wink

 

Message 220 of 332
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