Need advice on should I or shouldn't I upgrade to Walmart Mastercard?

[CreditLuv]

I got in the mail today after 37 months of having a sad $400 CL (don't judge) with a Wal-Mart store card a letter saying in 65 days (unless I say no) I will be converted to a Wal-Mart MasterCard.

 

 

My question is should I convert or not based on my current situation outlined below?

 

 

My credit profile is as thin as a crack whore and I've been gardening for almost 7 years. I get out of credit jail next year when I will be 100% baddy free.

As of 9/1/15...

My Oldest Account: 11 Years, 8 Months
My Average Age of Accounts (AAOA): 7 Years, 7 Months

 

Transunion score around 700 and no bankos, foreclosures, evictions, tax liens, judgments, etc. Only 5 collections/charge-offs that all fall off in 2016 or later this year with credit repair I'm in.

My current open accounts....

2-Cap1 cards $3,400 and $1,750 CLI (8 months since I got an auto and manual CLI from both Cap1 cards)
1-Walmart store card $400 CL
1-Amazon store card $1,000 CL
1-luxury SUV loan (almost paid off)
============================
I only have 5 open accounts and this screenshot below shows my current old accounts breakdown

 

==> http://s27.postimg.org/a1g7wt07n/screen_2015_08_28_16_25_06.jpg

 

 

My feeling is I should convert to a MasterCard because they'll close my existing Wal-Mart store card with 37 months of perfect payment history and give me a second CC line to show on my reports instead of just one line reporting. Plus, I would highly prefer a real CC over a Wally World one. But I'm a little worried about my AAOA taking a hit.

 

Also before my deadline of Oct 9th when I would need call to cancel the conversion I'm going to call the UW for Wal-Mart and Amazon and ask for huge CLI's. My second question is should I call the UW back to back (Like call for Amazon finish and then call back for Wal-Mart) or wait a few hours or days between asking for a CLI and should I call to get an Amazon CLI with the higher limit first or Wal-Mart first? Amazon store card I've had for 37 months as well and with both I've NEVER asked for a CLI before because my credit scores sucked.

 

Thanks for any and all help.

 

[BDK]

MC is basically worthless. Just leave it as a regular store card.

[tobettercredit]

You are due for some serious credit cards' spree

 

Freeze EQ. Go on a spree with Transunion and Experian.

 

Amex(charge and revolver), Chase, Citi, Disco, Venture, etc...

 

As for Walmart store card, ask for $25,000 and see what happens. Do it via chat.

 

Another Walmart revolver will be useless.

 

Walmart store card gives you cash back up to $100. Look at it as no interest cash advance.

 

Get cards that offer you rewards(cash back, travel, hotels) with issuers listed above

 

Combine 2 Cap1's

 

Ask the pros here before making any move.

Edited August 28, 2015 by tobettercredit

[dcowboy08]

My letter came last night. I am calling in for a cli, I will ask some more questions.

[dcowboy08]

The issue date will be new. I am not accepting due to this. I did get an increase from the call.

[CreditLuv]

@dcowboy08 Of course the issue date is new it's a completely different card and the old Wal-mart store card gets closed. My AAOA is pretty good at almost 8 years, so from all the input I received I'm going to ask for a huge CLI a few days before my deadline (10/9) and then hope that store CL converts to the new Mastercard.

How much of an increase did you ask for and then get?

[dcowboy08]

I asked for $23k from my current $2k.... they countered with $6k. I'll wait 2 months and try again.

[CreditLuv]

@dcowboy08

2 months? It's common knowledge that Synchrony rules are a customer needs to wait 4 months or 4 months + one day to ask for a CLI from the date of there last CLI. Unless in the last few months that has changed for all Sync cards?

Congrats on the CLI that's awesome man, tripled your line.

 

My pathetic $400 line better get to at least $2K-$3K when I ask for $15K or $20K.

[Konrad2012]

@dcowboy08

2 months? It's common knowledge that Synchrony rules are a customer needs to wait 4 months or 4 months + one day to ask for a CLI from the date of there last CLI.

Good thing Mendelssohn and I skipped class that day.

 

I was getting Lowes CLI's every 60 days until it got to $25K. And got a Walmart $5K->$20K CLI ~70 days after opening (also 5 days after they took Lowes to $35K)

 

Mendy was hitting Walmart every two weeks for a stretch.

[dcowboy08]

 

@dcowboy08

2 months? It's common knowledge that Synchrony rules are a customer needs to wait 4 months or 4 months + one day to ask for a CLI from the date of there last CLI.

Good thing Mendelssohn and I skipped class that day.

I was getting Lowes CLI's every 60 days until it got to $25K. And got a Walmart $5K->$20K CLI ~70 days after opening (also 5 days after they took Lowes to $35K)

Mendy was hitting Walmart every two weeks for a stretch.

That's were I learned it from. My Lowes is at 17k and they are next in receiving a call from me.

[CreditLuv]

@Konrad2012

It did change!

 

If Lord @Mendelssohn said so then it must be true.

Mendy is a f$cking BEAST! My credit superhero!

 

So forget the 4 month timeline and for all Sync cards try on day 61 from your last approved CLI to get another increase correct? Or denial or approval 61 day?

[CreditLuv]

@dcowboy08 When you call every 60 days with Wal-mart and Lowe's do you just tell them everytime you're looking to make a big purchase or what do you tell them. Especially since they can see from 60 days earlier you didn't purchase anything big or nothing at all. Thanks

[dcowboy08]

I haven't had to say anything yet. When I got big increase for my Home Depot card, they asked. Synchrony doesn't seem to care.

[CreditLuv]

I'm just going to tell Synchrony because @Mendelssohn got one...like a hundred CLI!

[dcowboy08]

I'm just going to tell Synchrony because @Mendelssohn got one...like a hundred CLI!

There ya go.