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Walmart® Credit Card

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Application Process
Customer Service
3.8 5

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Most Helpful Positive Review

Dec 26, 2013

More plastic to play with
Helpful to 40 out of 42 people

Ok, not to play with, but it's just funny how excited I get at 43 and get approved for another card while I try and redeem myself. I'm a documentation nut so like my other two cards, I'll be updating this post (via reply) once a month or as more info comes in. A few notes to start with:

My myFico scores are: Experian= 599, Equifax= 643 & Transunion= 633.

CK score: 629 (Just dropped from 696, but I prefer myFico for accuracy, CK for all the cool tools and reviews).

Approved for $300.

I've read many people here state that the application process didn't do a hard inquiry, but from my research it leans more toward that it does (not 100% yet but will be next update). I see a few people referring to Walmart money card which is a totally different animal and is a prepaid. Again, I like love free information on public forums and these reviews, but will see for myself and report back as soon as I know.

The application worried me for a minute because after I submitted it and it said I was approved, the bottom right link said "Pay now". I read the fine print before hand and saw there was no annual fee or member fee, but it certainly had me questioning myself. I clicked the link and the application page reopened with half my information filled in, looking like it was expecting me to fill it out all over again. No idea what happened there, but I did not fill it out again.

This card gets five stars easily for the simple fact that it's the first of my now three (Capital One Secured & Credit One Visa - non secured) that actually gives you a temporary number right away. In fact they currently have a promotion going on that if you spend $75 on Walmart's site the same day you get approved, they will give you $25 off. Now before people run to try for it, I read the fine print on this as well. Only slightly negative thing is that they state the $25 will appear on your statement after your first or second billing cycle. So just don't expect it right away to come off the price. This is also going to end in a couple weeks. I imagine this sort of promotion happens often though. This is verbatim what it says:

"Save $25 when you open a Walmart® Credit Card and spend $75 today (paid as a statement credit). Offer valid September 19, 2013 through January 31, 2014."

I did more research and found some posts on myFico that someone was actually complaining about how fast they reported the information to the credit bureaus. I'm still amazed they were upset. I think I know why but it's because people don't understand the all popular topic of credit utilization. He stated they reported to the credit bureaus after only 3 days from the time he got approved. Another thing I will update next time. If that were the case, and people did take on this promotion to spend at least $75 in order to get $25 back in a month or two, then that would certainly put someone over the comfortable threshold of spending below 30% of a $300 card. If you have questions after reading this next paragraph, either ask by replying, or for faster answers, see my profile and read my Capital One or Credit One posts.

People think credit utilization is a constant. That's just not how it is at all. I only speak facts here folks, but easily checked through a phone call to your bank (don't chat, they're horrible with info I think). The credit card companies normally inform the CRA's the day after your billing cycle closes (not your due date). Most banks that I've researched need at least the close of 2 billing cycles before they do their initial report, then it's every month after (but check with your bank as always). Now when the bank reports your data, they report account status in an "OK", "30 days late", "60 days late", "Charged off", etc,,, fashion. They report your total credit and the balance of your card as of the close of your billing cycle (again, not your due date). ALWAYS call your new credit card bank and ask them when they close your billing cycle. If you pay it in full every month, then this is the date you want to do that by. Due date is only how they formulate interest folks. The bigger thing that people don't seem to understand on these forums are the huge fact that each month the bank reports your data, that current credit utilization replaces the last reported. Does that lower your score? Sure, but only during that exact time frame and nothing more. People think they have a "Score", you don't have a set in stone score, but before I cover that, know that the importance of having a low credit utilization is if you are expecting inquerries. So say you're planning on getting a mortgage or car loan (any loan). Prior to that you would want to be sure your credit utilization is at the lowest you can get it (on average you'll read people state 30% or less). Other than those times, don't sweat it so much. Still do be dilligent in paying your balance to the lowest possible you can by your billing cycle close date, but every 30 days, that data is replaced with the next data reported to the agencies. In the future this will most likely change so always check dates on these posts and always check with your bank. It's you that you need to protect.

Credit Scores:

A credit score doesn't exist until a request is performed. Ever sign up for a credit report, such as from myFico? Ever notice after just a few hours it will once again prompt you to "Get you new score now!!!"? Well, the fact of the matter is that the 3 credit bureaus have different software (people overuse the term algorithm but you probably at least read that somewhere). When an inquerry is sent to that credit bureaus, the software runs the numbers and spits out a score. This score can vary because many things. One main thing is even if you buy your score direct for Experian, Equifax or Transunion, you will get a consumer model and not the lender model. Example: model 98 we get from experian, but the lenders get model 04 (for 2004). Most auto apps have criteria that lenders can set. They can disregard certain things or focus more highly on others. This is one reason your "score" often varies, though mostly it's because we only get the model from before the current (at best). So your credit score is a calculation based on the data in your credit report. So when your credit is "pulled" and a score is requested, that score is calculated through the software, Beacon (software) for Equifax, FICO for Experian (not myFic0) and Empirica for Trans Union. Your credit report changes month to month, mostly by means of automated updates to your file from creditors who report to the bureaus. The differences reflected in that raw data causes changes in your score, but only when those calculations are performed in response to a request for a score.

Sorry for the long read, but if you're trying to better understand, then I'm trying to better help you do so. It pain me to think how long it took me to learn everything I just wrote. I hate how difficult it is to find facts in today's day and age especially. Facts are still facts even though they go ignored, but in this case, these facts cost me lots of money and tonos of grey hair. Hope I at least saved some of you the time and aggravation.

As mentioned long ago, I'll update this with a much shorter read when I have more Walmart specific information to share.

*Keep in mind, this is not a "forum" technically, so if you ask me a question I cannot reply  to you and must reply to my own post. Check back after a day or two and you should have a reply. Sadly Credit Karma doesn't tell you much on their "Recieve email Alerts".

Best of luck folks. Let's go into this new year more prepared I say.

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Danbo777's review was:    

 

Most Helpful Critical Review

Jul 15, 2013

Will not increase CL
Helpful to 10 out of 11 people

I applied for this card in 2010 when my score was 526 - instantly approved for $300. Never late, never overlimit. Reduced my CL to $100 (What's that gonna buy?) and have tried to get it higher since. Applied for CLI today (CK 691), and DENIED! Called backdoor and DENIED!!! I'm not going to use this card anymore because I cannot even but groceries without going from 0% to 100%+!

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bast553's review was:    

 

Reviews (117)

Apr 08, 2015

Horrible Service
Helpful to 0 out of 1 people

They withdrew $383.52 without my approval and they mentioned that I went online and set up automatic payment. Even if I did, you would think that it would take out the minimum payment and not the full amount. This bank is a fraud. Watch out, they are affiliated with the JC Penneys card also. That card did the same also. I closed both accounts. No benefits in being screwed every month.

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brokeinnchain's review was:    

 
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Mar 17, 2015

I got a 7-10, called recon and got it!
Helpful to 2 out of 3 people

I applied online and got a 7-10. I called the  recon dept and asked why. I was greeted by a pleasant guy and asked to verify my identity using a number sent to my phone and voila! $500 credit limit. Not bad with my history of Debt settlement and lots of collections. on my way to building a better credit.

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docRyanMD's review was:    

 
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Mar 10, 2015

Synchrony Bank doesn't protect customers
Helpful to 0 out of 1 people

I used the Walmart Credit Card for 2-3 years without any issues. Unfortunately, my first large purchase (over $1k) was made with a service provider that did not deliver on its promises. I disputed the charge with Synchrony Bank and after 3-4 months of going back and forth with an assigned case worker, she stopped responding to my calls. Now, I sit on hold for over 25-30 minutes with their main telephone line before becoming frustrated and giving up. Synchrony Bank does not protect its customers. I will be paying my final bill, closing the account and taking my business elsewhere.

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Mar 09, 2015

Cash back at register!? One of the best cards I have.
Helpful to 5 out of 5 people

I got approved for this card with a credit score of 585. I received a $500 limit. This card is great if you are a regular walmart shopper. One of the best perks is that you can get cash back (up to $100) at the register no PIN number needed, of course this is a tempting feature to have, and can cause you to reach your credit limit very quickly. Last but not least, this card can be used at Walmart gas stations, and you receive an additional 5 cents off a gallon. I love this card. 

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lasean28's review was:    

 
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Mar 04, 2015

Walmart helped me rebuild
Helpful to 2 out of 4 people

I applied for this card in July 2014 and was denied. I applied again in November and was approved for $600. Prior to this I had a secured card from capital one of $200. I used just under $500 at Christmas time and immediately began paying it off quickly in January. I got my balance down to $100 and charged another $100. The next day I went to make a payment and noticed that I had a $100 line increase. I immediately requested a line increase and was denied. I signed on a few days later and my credit limit was increased to $1200.  Synchrony reported to my credit bureaus within days giving me a 27 point increase with Equifax. From that point I was able to get shopping cart trick approvals with other credit cards and in December I was able to get approved for a Quicksilver one. My credit scores currently range from the mid to upper 600’s across the board. I would recommend this card to anyone that has learned their lesson and is now trying to start fresh.

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misswood24's review was:    

 
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Mar 02, 2015

Best credit card ever!!
Helpful to 2 out of 2 people

I love this c.c., not only well they approve you, they also increase the amount frequently

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Feb 04, 2015

Easy process, my first credit card
Helpful to 3 out of 3 people

I tried applying and was denied because my credit history wasn't established and they said it was too short (less than 1yr). So I reapplied about a year later (Apr 2014) easy process (online or in-store). I was approved with a score in the mid 6s for $800. A few months later it was automatically increased to 1300. I make full payments every month and except for 2 or 3 times. My score went up 60 points from April to Sept (fico 677>739). Walmart gives u a free monthly FICO score and they tell u the two greatest factors lowering your score. Interest is figured out by the cards average monthly balance and has been between 5-10 on balance 300-500. The late fee is the same as the minimum payment (35). Overall I'm happy. Walmart had my fico score at 710 when my Trans Union score on here was 653. As of Jan 2014.

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antmicrey's review was:    

 
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Feb 02, 2015

Garbage
Helpful to 0 out of 2 people

1st they decreased my limit from 2200 to 1200 for no apparant reason.  Fine.  A few months later (2 years ago) I was locked out of online login to my account.  I spoke to about 100 people in India and no help at all. They tell me "you are not locked out buddy".  Now it justs asks for my account number and then says "we are having technical issues" after I input it.  Paying over the phone or at Walmart are my only options.  To pay over the phone you need 20 minutes of talking to a robot.  Since this dilemna, they have convenietly raked in 7 late payment fees.  I have 5 other CC's and do not pay late thanks to online account managment.  

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Jan 31, 2015

Walmart MasterCard usage
Helpful to 0 out of 1 people

Can you use this card everywhere? Not just Walmart or Sam's Club?

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MzPepper's review was:    

 
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Jan 21, 2015

Cash!
Helpful to 4 out of 6 people

I have the card  with a high limit .....I saw a TV for 600 dollars ....i had cash ..paid for it with cash ...Problem Solved welcome to debt free living.

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Company Overview

The Wal-Mart Credit Card is offered by GE Money Bank for Wal-Mart customers. Credit card benefits may include online account management and cash promotions for approved applications. Online account access includes credit card statements, payments, request for credit limit increases, and email and phone alerts.

Established in 1962 in Rogers, Arkansas, Wal-Mart is a discount retailer that currently serves fifteen countries worldwide.Known for its motto “save money. live better”, Wal-Mart is recognized by its bright blue warehouse-like buildings and it's white logo. Products span an array of household items, automotive, food, and more. With its popularity, Wal-Mart has also been scrutinized for its business practices. Consumers are concerned about Wal-Mart’s lack of benefits for its employees, hiring practices, and the circumstances of small businesses driven out by Wal-Mart competition.

Approval Odds

Walmart® Credit Card