Approved for a Walmart Credit Card!
By UpbeatRae
@carebear29 (31962)
Wausau, Wisconsin
October 13, 2016 11:39pm CST
So I applied for a Walmart Credit Card and got approved for $600. Now I have to learn how to use one of those. But this card will be very helpful and nice. I have to figure out how it works too. This would help with groceries and pull ups when needed. Anyone have one of these or how they work? Reading the fees and stuff is a little confusing. Any help would be good but otherwise I will have to figure it out on my own. Things are slowly looking up for me. First Fingerhut and now Walmart!
7 people like this
11 responses
@infatuatedbby (94921)
• United States
14 Oct 16
Congratulations on being approved.
I am not familiar with Walmart Credit Cards ~ But it's best to read the policy.
2 people like this
@infatuatedbby (94921)
• United States
14 Oct 16
@carebear29 Yeah the policy gets confusing.
1 person likes this
@carebear29 (31962)
• Wausau, Wisconsin
14 Oct 16
@infatuatedbby do you know how to use one?
1 person likes this
@carebear29 (31962)
• Wausau, Wisconsin
14 Oct 16
I did but a little confusing. I am sure I will figure it out.
2 people like this
@carebear29 (31962)
• Wausau, Wisconsin
14 Oct 16
That is what I plan on doing. Can you message me on how they work? I am a first timer. Like how I know what to buy and stuff like that?
1 person likes this
@carebear29 (31962)
• Wausau, Wisconsin
14 Oct 16
Right. At least I can buy stuff on emergency basis
@carebear29 (31962)
• Wausau, Wisconsin
14 Oct 16
It is based on your credit score.
1 person likes this
@MattMeng (3440)
• Hangzhou, China
15 Oct 16
@carebear29 Oh, I don't like to pay by the future money.
1 person likes this
@yukimori (10143)
• United States
14 Oct 16
What you need to do with it is purchase only the things you need. Spend no more than what you would normally spend on those things, and pay the balance of it off on or before your due date.
You want to keep the amount of available credit you have as large as possible. Sure, you can get away with only paying the minimum payment every month, but that $600 isn't your money. They're going to be charging you interest on every purchase you make if you don't pay it off by the due date.
An example of that would be a balance of approximately $287. Paying only the minimum due on the account ($35) would mean it takes about 8 months to pay the account balance off, and it'll end up costing a total of about $308. So you're paying an extra $21 to use the bank's money to buy your groceries at Walmart when you use your credit card if you don't pay it off more quickly than you absolutely have to.
Be careful about how many new accounts you open right now. Every time you apply for a credit account, they do what's called a hard pull on your credit report. Those stay on for a period of two years, and too many inquiries can make it seem that you're desperate to get credit. It's also very easy to get carried away with accounts... $25 to $35 minimum payments aren't that much, but when you get 8-10 cards that's a lot of money that's going towards the interest payments and not paying off the actual balance of what you purchased. Plus your minimum will start going up as the balance on the card gets higher.
1 person likes this
@carebear29 (31962)
• Wausau, Wisconsin
14 Oct 16
@yukimori Thanks for explaining that. Yes I will be using it on emergency basis only like pull ups, household, groceries (since we only get $109 in food stamps per month) and such. I was told to to pay a little more than the minimum balance to to pay it off faster so that may help. I want to use this card wisely that is for sure. No more credit cards otherwise for me.
Also, I was wondering what is the minimum of my first purchase for when I get my statement? I heard $150 but I am asking around to verify.
@carebear29 (31962)
• Wausau, Wisconsin
15 Oct 16
@yukimori Ok. That helps. My big question is is this would be my first purchase, what would be the minimum to do so though for an order? I would mainly use it on my son for pull ups, tp, household and groceries as needed.
@yukimori (10143)
• United States
15 Oct 16
@carebear29 It's either $25 or $35. I think your card terms should actually tell you what your minimum is.
It'll go up if your card balance hits a certain point, though. It's been a while since I had a card with a balance of around $1,000... when I did I think the minimum due was around $65.
You definitely want to pay more than the minimum every month. Ideally, it should be paid off in full after you use it. If you get into that habit now, it'll be a lot easier to manage. It's really easy to get into the mindset of having more money than you actually do, but you have to keep in mind that spending money on a credit card is spending money you don't have.
1 person likes this
@carebear29 (31962)
• Wausau, Wisconsin
15 Oct 16
I just have FIngerhut and Walmart.
1 person likes this
@carebear29 (31962)
• Wausau, Wisconsin
14 Oct 16
Ok. I will only use it on emergency basis. Like food (since we only get $109 in food stamps), pull ups and such
@carebear29 (31962)
• Wausau, Wisconsin
14 Oct 16
Yes especially for food and pull ups and what not.
1 person likes this
@Gulshangiri (241)
• India
14 Oct 16
Congratulations... I do not know much about this... Can you explain to me about this a bit
1 person likes this
