kdcool Posted July 5, 2007 Report Share Posted July 5, 2007 I got a pre-approval card in the mail for walmart (unspecified amt) so I applied on there website only to get approved for $150.What a joke of a credit limit compaired to my DMB $2600 instant approval.I called in for re-consideration for a higher limit and they said i have to have the card activated before i request an increase ?They pulled ExperianSo what should i do now:1. I've got a useless inquiry for this joke of a card2. A $150 credit limitShould I close the card right away and be done with it, or will this card ding my score even more because of such a low credit line.what's the point of keeping a card like this?I have enough cards to have established my credit anywho..hovering at 640+/-.please advise...thanks! Link to comment Share on other sites More sharing options...
flythai834 Posted July 5, 2007 Report Share Posted July 5, 2007 i had applied for a walmart card sometime last year, and was approved for a measly $75, i closed it before I received it in the mail, I dont remember if he affected my credit score, I dont care. What can I possibly purchase with $75 limit. Link to comment Share on other sites More sharing options...
IHateCAs Posted July 5, 2007 Report Share Posted July 5, 2007 It's twice as good as their lowest limit. Link to comment Share on other sites More sharing options...
IHateCAs Posted July 5, 2007 Report Share Posted July 5, 2007 If you had enough cards to establish your credit, why did you apply for this one then? Link to comment Share on other sites More sharing options...
jq26 Posted July 5, 2007 Report Share Posted July 5, 2007 No harm in keeping it. Its another good tradeline. Link to comment Share on other sites More sharing options...
elyse449 Posted July 5, 2007 Report Share Posted July 5, 2007 I got a pre-approval card in the mail for walmart (unspecified amt) so I applied on there website only to get approved for $150.What a joke of a credit limit compaired to my DMB $2600 instant approval.I called in for re-consideration for a higher limit and they said i have to have the card activated before i request an increase ?They pulled ExperianSo what should i do now:1. I've got a useless inquiry for this joke of a card2. A $150 credit limitShould I close the card right away and be done with it, or will this card ding my score even more because of such a low credit line.what's the point of keeping a card like this?I have enough cards to have established my credit anywho..hovering at 640+/-.please advise...thanks!I concur w/ Ihateca's response. Why bother applying? Also, if it were me I don't know that I'd go looking down my nose at offers of credit. They can be hard to come by, I was just DENIED for even the 75.00 CL. Dangerous to let go of one's humility. Oh well. If it were me, I'd hang on to it and use it wisely. Only charge 35-50% of your CL and pay in full some months. Let it build your FICO...than after about a year, you can decide what you want to do w/ it. If they won't give you an increase, close it as I do hear lower lines of credit can eventually harm one's score. I would think the ding to your credit files for the inquiry would make it worth it.Good luck w/ whatever you decide to do.Elyse Link to comment Share on other sites More sharing options...
iscrewedupbig Posted July 6, 2007 Report Share Posted July 6, 2007 If all you're going to do is complain about the CL, then why keep it? Keep in mind getting credit to a lot of people, regardless the CL, is still a thing that makes them giddy.So, be humble with it or simply close the account... Link to comment Share on other sites More sharing options...
cajunbulldog Posted July 6, 2007 Report Share Posted July 6, 2007 Sockdrawer it and use occasionally for age. After six months they will probably be ready for a credit line increase. Link to comment Share on other sites More sharing options...
razr Posted July 7, 2007 Report Share Posted July 7, 2007 I'd send it back with a "no thanks". According to the FICO ppl, the low CL may effect how other creditors treat you (they see that other lenders do not think you are worthy) and will negatively impact your score. -r Link to comment Share on other sites More sharing options...
kdcool Posted July 18, 2007 Author Report Share Posted July 18, 2007 Rarzr, I agree with your point, it makes me wonder, thanks everyone for your input (thats why i love this forum) , I got a pre-approval in the mail and decided to try my luck on the "Discover Walmart Card" but was only approved for the "Store" card. What a joke!I will however keep it less than 25% utilzation and sock it for 6mths or so then ask for the Discover upgrade or better yet just cancel it all together! Link to comment Share on other sites More sharing options...
direred Posted July 18, 2007 Report Share Posted July 18, 2007 Wal*Mart does have a lot lower limits than $150. I believe they go down to $25. Link to comment Share on other sites More sharing options...
merkurfan Posted July 18, 2007 Report Share Posted July 18, 2007 25 bucks?? Will that buy ya a DVD?? Link to comment Share on other sites More sharing options...
Freak Posted July 18, 2007 Report Share Posted July 18, 2007 25 bucks?? Will that buy ya a DVD??Depends on which bin it's in. Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted July 18, 2007 Report Share Posted July 18, 2007 I decided to try and got $400 store card. We shop there and Sam's club so it'll get used and perhaps upgraded down the road. Link to comment Share on other sites More sharing options...
razr Posted July 19, 2007 Report Share Posted July 19, 2007 Wal*Mart does have a lot lower limits than $150. I believe they go down to $25.I could buy a whole case of Made in China Jalapeño Burritos with that. Yummmmm.-r Link to comment Share on other sites More sharing options...
direred Posted July 19, 2007 Report Share Posted July 19, 2007 I could buy a whole case of Made in China Jalapeño Burritos with that. Yummmmm.-rNow available with that special seasoning, Ethylene Glycol! Link to comment Share on other sites More sharing options...
Moneedshelp Posted July 19, 2007 Report Share Posted July 19, 2007 I am trying to get a wal-mart card, so the 75 would be a start for me:) Link to comment Share on other sites More sharing options...
romadstud Posted July 19, 2007 Report Share Posted July 19, 2007 as far as store cards go, would this be the easiest solution in fixing one's credit?... i haven't qualified for a card in a long time and am trying to build up some since of credit Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted July 19, 2007 Report Share Posted July 19, 2007 as far as store cards go, would this be the easiest solution in fixing one's credit?... i haven't qualified for a card in a long time and am trying to build up some since of creditWhat are you scores like? Link to comment Share on other sites More sharing options...
Longshot Posted July 19, 2007 Report Share Posted July 19, 2007 Ok, so in the last month I got a NFCU credit card with a $5000 limit, a Carnival sea miles with $500 limit, and a Target card with a $200 limit. I thought i'd try for the Walmart card. Even if it was only a $150 limit, we shop there alot and it would get used. DENIED. Not even a $150 limit. Oh well, I guess I didn't want one that bad anyways Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted July 19, 2007 Report Share Posted July 19, 2007 Ok, so in the last month I got a NFCU credit card with a $5000 limit, a Carnival sea miles with $500 limit, and a Target card with a $200 limit. I thought i'd try for the Walmart card. Even if it was only a $150 limit, we shop there alot and it would get used. DENIED. Not even a $150 limit. Oh well, I guess I didn't want one that bad anyways That's so weird. I couldn't get the Carnival Seamiles or the US Airways, but got the Walmart. Maybe they need to verify something with you first. Link to comment Share on other sites More sharing options...
Longshot Posted July 19, 2007 Report Share Posted July 19, 2007 That's so weird. I couldn't get the Carnival Seamiles or the US Airways, but got the Walmart. Maybe they need to verify something with you first. When I did it online, I got an email from them about 20 minutes later giving me the denial letter. I'm not worried about it though. I just applied on a whim. Link to comment Share on other sites More sharing options...
romadstud Posted July 22, 2007 Report Share Posted July 22, 2007 big johni haven't pulled my other two in some time, but ex is 516 and the other two are within 10 points of that... any suggestions? Link to comment Share on other sites More sharing options...
keith Posted July 22, 2007 Report Share Posted July 22, 2007 What kind of fees go along with this card? Alot of these cards have activation fees, etc; that will eat up most of your limit on one that small. You would be better off with a secured card. Check on those 'hidden fees'. Just a suggestion. lol Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted July 23, 2007 Report Share Posted July 23, 2007 What kind of fees go along with this card? Alot of these cards have activation fees, etc; that will eat up most of your limit on one that small. You would be better off with a secured card. Check on those 'hidden fees'. Just a suggestion. lolNo fees for the Walmart card. I got approved on the 18th and they are already reporting on all 3 CRA's. Link to comment Share on other sites More sharing options...
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