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  1. #1
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    Thumbs down Walmart Credit Card Exposed

    Walmart tagline parody
    Did a cashier peddle you the Walmart credit card application during checkout? This 2013 review will show you the ugly truth.

    Rewards Shocker?
    Believe it or not, the only rewards offered on the store version of the Walmart card is a measly 5 cent gallon discount at their participating gas stations. Please note that's only 5 cents, NOT percent. And aside from that, there is no cash back or points earned on any of your spending!

    When you consider how outrageous gas prices are nowadays, this 5¢ discount is pathetic... as long as gas is above $4/gallon you are earning less than 1.25% cash back. At $4.50 per gallon it’s only 1%.

    Your best bet would be to go for something that gives double points (worth 2% cash back) at ALL gas stations.Meanwhile the Walmart Discover card does give rewards elsewhere, but they're nothing to write home about:
    • 0.25% on total annual spending up to $1,500
    • 0.50% on total annual spending from $1,500.01 to $3,000
    • 1.00% on total annual spending over $3,000
    So the max you can earn with it is 1%... what a joke. Recently I was speaking with a relative who said she wanted to apply for a Walmart credit card. When I asked her why, she said “Because Walmart is a good place to save money.” Well, you can’t deny that, but that same philosophy doesn’t apply to their credit card.

    Something else to keep in mind is the this Discover credit card is not issued by Discover! It only operates over the Discover payment network (like a Visa or MasterCard). The actual card itself is issued and managed by GE Money.

    Interest Rate?
    As I write this review, the APR on this credit card is a crazy 22.90 percent on both the regular and Discover card. We all know carrying a balance is a bad idea, but is it really fair for us to pay through the nose if we do?

    Customer Service?
    As mentioned, their cards are issued by GE Capital Retail Bank (formally known as GE Money Bank) which is a big issuer of store cards and are notorious for their subpar service. The number of negative GE Money Bank card reviews posted on this website and elsewhere speaks volumes as to the service (or lack thereof) they offer.

    Acceptance?
    The regular Walmart card can only be used for purchases at their stores. Everywhere else it’s totally useless. On the other hand the Discover can be used elsewhere, but with no bonus categories for higher rewards it's not too exciting, is it?

    Benefits?
    The Walmart credit card benefits are lacking, to say the least. There isn’t an annual fee (whoop de doo) and other than that, the only benefit I see worth mentioning is that once per day, you have the ability to get cash back at the register when paying (similar to what you can do with an ATM card).

    Verdict?
    It’s hard to find one good reason to fill out an application for the Walmart cards. At my local store they were trying to convince people to apply for the card by giving them a free 2 liter bottle of soda (and that probably costs what, a $1.29 or so?!). I don’t know about you, but It’s going to take a heck of a lot more than that for me to ever consider this piece of crap!

    More recently during 2013 I've seen they're offering a $25 bonus after you open an account and spend $75. Why care about $25 when you can earn a much higher bonus with so many other credit cards!
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  2. #2
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    Default cancel Walmart credit card

    I signed up for a walmart credit card about 6 months ago and then I realized it was dumb so I cancelled it. I bought one chair on it for $100. Then I paid the card and then I waited about 5 months and cancelled the card..

    How will this affect me? I'm only 21 and I didn't really know I was signing up for a CC, the guy at the cash register tricked me.
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  3. #3
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    Default

    @credit card guru- why do you hate on EVERYTHING? Wal*mart employs thousands of people and gives many americans jobs. While they may not pay alot NO ONE MAKES ANYONE work at wal mart. If you work at wal mart THAT IS YOUR CHOICE. No one makes you work there. Its better than working for a company that is laying off and is going under. Plus they have excellent prices. And in this economy EVERYONE can benefit from that. So I don't know why you are hating. Who are you to bash wal mart? You don't work there. So unless you HAVE worked there and have experienced what its like.... well you can figure out the rest. Wal mart was my first job when I was in high school. It was fine. I wanted a job with more pay.. so I left... and every employee that works there has the SAME opportunity if they don't like it. AS far as the credit card.... it is issued by GE MONEY bank. Not directly from wal mart. And as a former account holder of the GE MONEY BANK wal mart credit card... Yes... it does suck.
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  4. Centurion Member Pete838's Avatar
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    Default

    Quote Originally Posted by hotboidrvsf150 View Post
    @credit card guru- why do you hate on EVERYTHING?
    I didn't read that as bashing Wal-Mart at all. He even said Wal-Mart is a great place to save money. The post was a review of a sub-par credit product, probably aimed at people with poor credit and little sagacity to choose a better product. From what I gathered, the criticism was of the reward structure and of GEMBs customer service.
    Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
    Ronald Reagan
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  5. #5
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    Default

    I am not critical of the Walmart credit card but would like to know why people get all types of random cards for every place they shop. If the reward programs are similar why would you need to get a card for each place. Can't one credit card do the trick just fine?
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  6. #6
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    Default Walmart Card

    Ok, totally agreed here. Not so much on Walmart, JCPenneys etc. etc. it is GEMB in my opinion. Look, there is a way to use these cards and there is a way to not use these cards. If you are loyal to Penneys or Walmart and responsibly use these two cards in a charge card manner without running a balance: more power to people like us. If you are building credit and are not loyal to these two stores and want to carry a balance etc. maybe to lock a debt-to-credit ratio the guru is correct do not bother with this junk.

    My Walmart card is my gas card straight and simple. No balance, no interest. My mother works a JCPenneys, same bank GEMB and same setup, I have her as an authorized user and instead of her swiping her debit card she uses my Penneys card racking up rewards and discounts etc. and just writes me a check for the statement balance. Given there are NO rewards for having a walmart card, BUT it is better than having a stupid gas card which is even more hoki-dok than having a Walmart card in my opinion haha.

    Hey if you have a charge card mentality and you have store loyalty to a Walmart/Pennys etc. go for it. Do not try and establish good credit by running balances on junk like this. The cost for doing that is high, 29%/23%, and the reward is... basically nothing. I am a BIG charge card mentality consumer, my AMEX is my goto, I have two major credit cards cap one was my first which is junk, but I will never close my first card for length of history purposes and my citi forward card. Both are locked at 7% debt-to-credit with Penneys, Walmart, AMEX @ zero. I am under three years for length of history so I am just locked up getting time under my belt, when I cross three years I will be doing great. Inquiries 0/1/1, Sometimes in the credit game you just have to sit back and grow a little.

    If you are thinking of a GEMB and you are not a big pay-in-full guy or gal do not go for a GEMB you will get your lunch eaten with interest.
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  7. #7
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    Default Walmart Card Questions

    Question for those who have the Walmart card:

    1. On the online bank page, does it have the option to autopay the entire balance?

    2. Does it charge a fee if you don't use the card for X months straight?

    3. How often do they close cards/lower CL due to lack of activity?

    4. In general, would it be worth it to sign up for it just for the FICO TU scores?

    Main Card: Amex Platinum
    For gas: Penfed Platinum Cash Rewards
    For travel & dining: Chase Sapphire Preferred
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  8. Centurion Member
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    Default

    1. Autopay in terms of setting it up monthly to deduct from your checking account? Not sure. Pay in full online? Yes.

    2. No, this would be illegal as part of CARD Act unless they gave you notice 45 days in advance that there would be a fee. And even then, due to CARD Act they could not do this in the first year of cardmembership. Regardless, GECRB does not charge inactive fees.

    3. This card is issued by also-ran GECRB. GECRB is NOTORIOUS for CLD's to $124 within 6-12 months of inactivity. Generally a call to customer service can get the limit raised.

    4. It depends. A new account can kill your Average Age of Account (although it looks like you've already gone app crazy this year) and the inquiry doesn't help. On the other hand, if you are rebuilding it could be good for that. But based on the cards you have in your signature you really don't need a free TU score.

    I also see that you have a Barclays. Based on your other approvals recently, adding another account could cause them to close your US Airways card.
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  9. #9
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    Default

    you are correct because Walmart owns that card. even though it has the Discover logo on it, walmart owns the card, like you said and a couple of other posters said it doesn't have any good rewards it's because wal mart owns the walmart Discover credit card.
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  10. #10
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    Question Rebuilding! Is Walmart still a bad choice?

    I am rebuilding my credit. I currently hold no credit cards and frankly really don't want one; My income is not large. However those Fico numbers seem to make the world go round.

    I do 98% of my shopping at Walmart and shop once monthly. In this situation would it be a reasonable thought to apply for this single card so that I have something other than my home mortgage listed in my credit report? My risk of default is greatly minimized if it is restricted to a single store where I already make most of my purchases and I would simply be changing the form of payment from my debit card to the Walmart card then making a payment for the same amount on the card a couple days later.

    I'm not really looking for rewards, high limits, or any of that. I just want something with zero or very low fees that I can use to show regular purchases and payments for current history.

    I had a difficult time purchasing my home because I hold no other credit or loans and had no current history. I tried to go through my bank for a card but got the same response about having no history and was offered cash advance services or a secured card. The secured card however had no fraud protection. In this case which would be better?

    I'm open to suggestions.
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