I got a walmart credit card recently. It can be used only at Wal-mart, and I can use it to buy things and pay no interest as long as I make the minimum payment. I'm wanting to buy a bike ASAP (gas prices) but the bike I want is 200. I get paid Friday but don't want to pay for it all right away. I have only a 150 limit on my card and was wondering if this would increase it... For example, I buy a DVD player for 130. after tax it'll be close to 140 or 150. Could I buy it with the card then return it the next day and pay my bill with the refund and make no money and lose no money to increase my credit? I'm wanting to buy an LCD tv but don't want to dish out 500 for it.
2007-06-04 22:33:56 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
If you buy the DVD player then return it, they will not give you the cash, they will just credit your account - and the credit may take days or longer. They probably wouldn't even look at it as a payment, just a credit return. And it won't bump up your credit limit that fast. You will probably have to wait at least 4 to 6 months to try for an increase.
As for paying no interest, I think you should read your card holder agreement. Unless you have been given a special promo since you just opened the card or the bike is on a special promo, Walmart usually gives the 0% interest promos when someone spends a certain amount ($300 or greater)
You need to figure out how much you can charge, that would include the taxes and card interest, so you won't go overlimit on your very first charge.
To be safe, you should probably pay at least half of the amount in cash.
IF you keep the account in good standing you may be able to get regular credit limit increases starting around your 4th to 6th month of having the card. And around every 4th month after that - BUT - you need to keep the card in good standing.
To get the increases, click on the credit limit increase button on the website.
2007-06-04 23:09:23 · answer #1 · answered by echo 7 · 0⤊ 0⤋
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2016-10-19 18:55:49 · answer #2 · answered by ? 3 · 0⤊ 0⤋
This won't work. You don't pay it back with a refund. Only payments are considered payments, as returns are credits to the account. It takes a least 6-9 months of on time payments to earn that first credit limit increase. Make small purchases each month, say $20 or $30 and pay them back on time. That will help you build a good credit history with Wal Mart.
Save your money, pay bills on time and eventually you will be able to obtain a higher limit with Wal Mart and other credit card issuers. I know this is hard, but is the only way to increase your credit score. You may want to obtain a second job in the interim to get the cash you need.
2007-06-04 23:40:06 · answer #3 · answered by Ginger 6 · 0⤊ 0⤋
I was considering a card there myself for the same reasons. I've been turned down from clothing stores because I have 'no' credit--trying to build it the slow way by paying bills on time, but my brother who has bad credit was able to get a Walmart card. He suggested I get one there to start the credit building process--pay it right back, though.
2016-04-01 03:05:32 · answer #4 · answered by ? 4 · 0⤊ 0⤋
You can get credit card through online or offline mode. Best way is online mode. You can apply from your comfort place and time. For more details http://www.rozyjos.info/2014/06/access-account-online-to-make-walmart-creditcard-payment.html
2014-12-07 18:51:29 · answer #5 · answered by ? 4 · 0⤊ 0⤋