i have NO credit i just applied for a walmart credit card. can n e 1 tell me if i get it how much my limit will likely be? i make 40,000 and have no savings or anything
i have NO credit i just applied for a walmart credit card. can n e 1 tell me if i get it how much my limit will likely be? i make 40,000 and have no savings or anything
They won't accept your application since you don't have credit history. You need to have alot of credit history. I tried applying last year and I got denied thats why I'm telling you this. So don't even apply for it because a hard inquiry will occur and its worse than not having credit at all. But what you can do is get a bank secured credit card which is a card that you open with a deposit and depending on how much you deposit thats going to be your credit limit. But do not spend more than 30% of your credit limit, avoid using credit unless you need to, pay on time and in full every month, avoid applying for credit needlessly. Check your credit reports every 12 months at www.annualcreditreport.com to see if there is any innaccurate info (which can be signs of identity theft) Also in order for your application to be accepted for a secured credit card you need to open a checking and savings account too. Also once you have built a credit history and would like to know what your credit score is you can purchase your credit score but only the fico score is the one that lenders go by other credit scores are worthless. You can purchase your fico score for $15.95 at www.myfico.com, www.transunion.com and www.equifax.com (Note: The credit reporting agency Experian does no longer offer fico scores)
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Those credit card limit formulas are well kept secrets by the credit card issuers.
I would expect your starting limit to be about $500 to $1,000 since you have no previous credit.
Note: Any time you use more than 30% of your limit, your credit rating starts reducing.
Ex: $1,000 limit, never use more than $300 at any time during the month.
That is why some experts stress to pay in full each month for best credit ratings...
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WALMART credit card limit?
i have NO credit i just applied for a walmart credit card. can n e 1 tell me if i get it how much my limit will likely be? i make 40,000 and have no savings or anything
They won't accept your application since you don't have credit history. You need to have alot of credit history. I tried applying last year and I got denied thats why I'm telling you this. So don't even apply for it because a hard inquiry will occur and its worse than not having credit at all. But what you can do is get a bank secured credit card which is a card that you open with a deposit and depending on how much you deposit thats going to be your credit limit. But do not spend more than 30% of your credit limit, avoid using credit unless you need to, pay on time and in full every month, avoid applying for credit needlessly. Check your credit reports every 12 months at www.annualcreditreport.com to see if there is any innaccurate info (which can be signs of identity theft) Also in order for your application to be accepted for a secured credit card you need to open a checking and savings account too. Also once you have built a credit history and would like to know what your credit score is you can purchase your credit score but only the fico score is the one that lenders go by other credit scores are worthless. You can purchase your fico score for $15.95 at www.myfico.com, www.transunion.com and www.equifax.com (Note: The credit reporting agency Experian does no longer offer fico scores)
i'm i still able to use my credit card to get gas and other things with the card