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Question
Walmart Credit Card Questions?
Hello Yahoo Users, I recently opened an account with Wamu banking. I did not have an account since this previous summer (with hsbc) so my funds are fresh as well as any history within the bank. Im looking to apply for a credit card at walmart since i shop there a lot. Question is, will i be approved with a brand new account? Wamu said i was qualified for their credit card but im not sure if they defer payment like walmart does. Second question, whats my possible limit, my first purchase (and only foreseeable one in the near future) is an xbox 360 which is 350$ without tax. If they give me a limit lower than that than its not worth the credit card IMO. I am 19 and have never gotten into debt in the past, and unpaid balances were paid within 7 days (usually totaled no more than 30$ under my balance). I just started a job at Costco Wholesale and have a salary of 11$/hour and have a minimum of 25hrs a week. Any additional information you guys can pass over to me would be great, thanks More Info: My expenses are TOTALLY <- taken care of. I can support myself in ways of food, clothing, gas ect. This "toy" is the only object that im buying for the next few months... no tv nothing. Im an economics major and i understand some (not all, not a know-it-all) of the webs they try to put you through. This is something i've wanted for awhile, plus i go to this store all the time so there is a need for it rather than just myself (my family is not very mobile so i shop for them).
1 month ago - 4 answers
Best Answer
Chosen by Asker
I, like you, shop at Wal-Mart ALOT. I applied for the walmart card - not the walmart discover card. I have limited credit history, and a "fair-poor" credit score (600). I was approved with a $300 limit. The other comment that stated that walmart gives credit increases every four months is correct. If you want to apply for the card and wait the four months for a higher limit - go ahead. OR you can save money for 4 months in an envelope (like the other lady said)...and pay for the XBOX in full. Having a credit card with them, I think, is a great idea. Recently, I've just been using it as a gas card (if you use their credit card or gift card, it's $.03 off the price of gas).
by jls_1984
1 month ago
Asker's Rating: 
Other Answers
Beware the Credit card TRAP! You can do without that xbox ... or whatever new toy has just hit the market! Don't do it! Do NOT spend on CREDIT! only spend $ on what sustains life! The consumerizm trap is killing mother earth!
by n0spam4me- 1 month ago
I dunno about mother earth but applying for a credit card just to get an Xbox is bad, bad, bad. You should have one for emergencies...like your car just completely broke down or you are hospitalized. They aren't supposed to be used for disposables like toys, clothes, or eating out. I'd have to see your credit report to answer your questions but in the end the result is the same. You aren't getting anything that appreciates in value like a house. Take whatever money you were gonna pay to the card company and put it in an envelope or whatever marked Xbox. When you have your $400 (less if you buy used) then go buy the toy. You are only 19 so saying "never had debt in the past" isn't saying much...you are starting off racking up that debt as early as you can from the looks of things. Plust, you JUST started this job. Get a better idea of your actual checks (not what they promised you) and bills before you start spending the money.
by pspoptart- 1 month ago
IF you are approved for a Walmart store card don't be surprised if your approved credit limit is low. Walmart is notorious for handing out small starting limits. But, Walmart is also excellent in granting good credit limit increases every 4 months as long as the account is in good standing, and a person hits the increase button on the website. I have to agree with the second poster, you are young and just starting out with your new job. While this is a perfect time to build a stable credit history for the point in your life when you are looking to make major purchases like a home or car, you might start learning good spending habits by saving up the money for your purchases before you make the purchase.
by echo- 1 month ago