Walmart credit card limit is diverse and versatile although it is said to be rigid by some. After reading this article the biased curtains will open in front of you eyes and you will be able to see the Walmart world with a completely different outlook.
What is Credit Card Limit?
A credit limit is also known as a credit line. A credit card’s credit limit is the maximum amount you can spend before you need to pay off some of the balance. The percentage of your credit limit you use called utilization which is a major factor in credit scores.
Some credit cards start with small limits of just few hundred dollars. Others come with larger limits of tens of thousands of dollars. Your credit limits are important because they will affect your credit scores as well as how you use credit cards.
Maximizing out your credit cards is bad for your credit scores. By increasing your credit limits you can continue to spend and pay off the same amount each month while lowering your utilization. As long as you don’t use a high percentage of your credit limit, the extra available credit will help keep your utilization low. That’s a positive signal in credit scoring models it keeps your scores higher.
Walmart Credit Card Limit:
With its reputation made in low prices and 0$ annual fee and APR rate Walmart’s credit card comes with the credit limit of 75$ with the new card. You can get from 10$ to 25$ extra credit if you shop from Walmart credit card. As the time will pass your card limit can increase or decrease according to your performance as a credit card holder.
How to request for a limit increase?
Walmart Credit Card Limit Guide: If you are an impatient soul and you are unable to wait for the company to increase your Walmart credit limit, you can simply sign in your Walmart credit card account. After that go in the settings and search for the Request to Increase Limit tab and click it. You will be informed if you are worthy of that limit increase. You can also seek guidance from Walmart’s customer care services.
When to ask for increase in limit
You should know when you are eligible to ask for a limit increase to your Walmart credit card so don’t just rush towards the store and first read to know whether you can have a limit increase or not.
When you have a good track record
If your track record is satisfying to your credit card company, walmart will automatically give you an increase in the limit. Are you a regular and on-time payer? Then it is the right time to ask for what you deserve and to have the most of it.
Good credit score
Your good credit score is the proof of you being a responsible card holder. Obviously when you pay your bill on time and clear all the borrowed money with an agreed amount which you can easily afford and pay it accordingly, your credit score will raise eventually making you qualified to ask for a limit increase.
Recent income increase
Congratulations! You have just got an increase in your income. So what are you waiting for then? Now is the right time to apply for a request to increase limit. The income increase points out that now you will more easily manage all the credit card expenses.
Reasons of a denied credit limit increase
There is no need to be heart-broken if you are denied for the request of a credit limit increase. Acceptance and rejection are part to parcel to each other. Focus on the possible reasons as to why your request has been rejected.
Here you go! You do not make your payments on time and now you are sitting whining about that you didn’t get an increase in your Walmart credit card limit. Your card issuer has an eye on you and knows that you are not good at managing the obligations of your Walmart credit card.
Too much balance
High credit card balances (See: how to check Walmart balance?) may mean you’re already overextended. Walmart credit card will be hesitant to grant you more credit if it looks like you already have enough credit card in debt.
Too many credit cards
One of the reasons why your request has been cancelled can be too many credit cards. Of course it is difficult to manage, pay and keep all the credit cards debt free. These factors never go ignored from the Walmart credit card system and they somehow know that you will not be able to cope up with all and your request will be turned down.
Account is too new
If you are a new member and you have just opened an account for Walmart credit card, a credit score increase is still a far cry for you because the credit card will come to with the basic credit limit. Give it some time, go a little easy on it and its limit will increase if you show how responsible you are.
Applied for so many credit cards
Application of so many cards at a single time can create a trouble for you in giving you an increased limit. This indicates that you are probably in a financial fix or maybe have too much debt pending on your part.
What to do if limit increase request is denied?
These are the following steps you can follow in order to make your credit limit increase request accepted
- Always Pay bills on time.
- Don’t close unused credit cards as a short-term strategy.
- Check balance history regularly.
- Pay off debt.
- Manage your credit cards.
- Apply for and open new credit accounts only as needed.
- Do your rate shopping for a given loan within a focused period of time.
In case you are still blank and have no idea about Walmart credit card limit, you can contact Walmart customer services by mailing or calling. You can even meet the consultants in person by visiting Walmart’s headquarters.