What credit score do you need for a Walmart credit card?

What credit score do you need for a Walmart credit card?

Walmart Rewards Mastercard:

The Walmart Rewards Mastercard is a credit card that can be used anywhere Mastercard is accepted. To be eligible for this card, you generally need a fair to good credit score, which typically ranges from 580 to 740. However, it is important to note that credit scores are not the sole determining factor in the approval process. Other factors, such as income, employment status, and existing debts, are also taken into consideration.

Walmart Store Card:

If you don't meet the credit score requirements for the Walmart Rewards Mastercard, you can still apply for the Walmart store card. This card is limited to use only at Walmart stores, Walmart.com, and affiliated Walmart gas stations. The credit score requirements for the Walmart store card are generally lower than those for the Walmart Rewards Mastercard. It is possible to get approved for the store card with a fair credit score, typically ranging from 550 to 640.

Benefits of Having a Walmart Credit Card:

Both the Walmart Rewards Mastercard and the Walmart store card offer various benefits to cardholders. Some of the common perks include:

• Earn cash back rewards on purchases made at Walmart and affiliated stores.
• No annual fee.
• Special financing options for large purchases.
• Access to free FICO credit scores.
• Price protection for eligible purchases.

Improving Your Credit Score:

If you currently do not have the credit score required for a Walmart credit card, there are several ways to work towards improving it:

• Pay your bills on time to establish a positive payment history.
• Reduce credit card balances to keep your credit utilization ratio low.
• Avoid applying for multiple new credit accounts within a short period of time.
• Check your credit report regularly for any errors and dispute them if necessary.
• Consider becoming an authorized user on someone else's credit card to build a positive credit history.

Final Thoughts:

Opening a Walmart credit card can be a convenient way to earn rewards and save money on your Walmart purchases. While there are credit score requirements, it is essential to note that other factors are also taken into consideration during the approval process. Make sure to review your credit score, income, and other aspects of your financial situation before applying. If you do not meet the requirements for the Walmart Rewards Mastercard, consider applying for the Walmart store card instead. By using your credit responsibly and practicing good financial habits, you can work towards improving your credit score and potentially qualify for a Walmart credit card in the future.

Frequently Asked Questions

Although Walmart does not disclose their specific credit score requirements, it is generally recommended to have at least a fair credit score (around 580 or above) to increase your chances of being approved for their credit card.

While it is not impossible to get a Walmart credit card with bad credit, it may be more challenging. Walmart offers both a store-only card and a Mastercard version. The store-only card may have more lenient approval criteria, but it often comes with lower credit limits and can only be used at Walmart stores.

Yes, applying for a Walmart credit card will have a temporary negative impact on your credit score. This is because a hard inquiry will be made on your credit report by the issuer to determine your creditworthiness. However, the impact is usually minimal and short-lived.

Yes, once you are approved for a Walmart credit card, you can typically use it immediately for in-store and online purchases at Walmart.

Having a Walmart credit card can provide several benefits, such as earning cashback rewards on Walmart purchases, saving money through special financing options, receiving free FICO credit score access, and enjoying fraud protection. Additionally, it may offer promotional benefits like discounts or exclusive deals for cardholders.