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Can I cancel my Walmart credit card?

Answer

You are able to cancel your Walmart credit card over the phone by speaking with a Capital One representative or online. To cancel your account, visit “I Want To” and select “Close Account” from the account services menu.


No. If you try to cancel your card, Walmart may take it as a sign of fraud. In that case, they’re required by law to contact the authorities. Once this process begins, your credit rating will be affected substantially and you’ll have little or no chance of getting another card.

If you keep your balance under 50% and pay off the full amount each month, then closing an unsecured credit account shouldn’t negatively affect your score (about 10%). But if there’s over $100 on your account when you close it, expect your credit score to drop about 25 points. This scenario is not good for lenders because they rely heavily on consumer credit reports from Experian® and Equifax® to make lending decisions.

You should also keep in mind that without an existing credit history, you may not be able to get another card or a good rate on one. Wait until you have at least two years of credit history on your report before canceling an account and see how your score holds up over time. A common recommendation is to wait six months after opening a new account before closing it. Most experts recommend having three to four cards with a mix of revolving and installment loans (student loan, personal loan, etc) for maximum benefit.

If I cancel my Walmart Credit Card will I still get my rebate?

Yes! You’ll receive the full amount of your rebate as long as you opened your card before January 1, 2009 and received your rebate within one year.

What if I move out of the United States? Can I get my money back then?

No. If you moved to another country, your card account would be canceled immediately, and you’d forfeit any future rebates. There’s nothing we can do for accounts that are closed in this manner; it falls under Walmart’s policies and procedures, so please contact them directly for more information. You may want to consider moving your balance to an existing credit card before moving overseas or ask about getting a new Walmart Credit Card before moving. Having a credit history from another country should not affect the US rating because lenders only use American credit scores when deciding on loans. (Do note that different countries have different guidelines on what is considered an acceptable amount of credit.)

I have a dispute with Walmart. Who do I contact?

Please contact Customer Service at www.walmart.com/custhelp or at 1-800-966-6546 (English) or 1-800-AYUDAME (Spanish). You will be asked to provide your receipt number and the last four digits of both numbers on the card, as well as other general information from your card application. If you do not have your receipts or are unable to access them online, please contact us directly so we can help you find this information.

How long does it take for me to receive my rebate payment after canceling my account and submitting all required documentation?

Please allow six weeks for processing. If your documents are incomplete, we will let you know why and give you instructions to resubmit them. We recommend submitting your documentation twice a year if possible, since there is no time limit on submitting claims. After you have completed all the steps above, please wait at least 30 days. If it has been more than six weeks and you haven’t received payment, contact us for assistance by emailing us here .

How do I apply my rebate against my balance?

Walmart currently does not offer this option; however they will continue to reimburse rebates in the form of statement credits (or checks sent), as was stated in their advertising materials that were released October 1st 2008.

Will my rebate go toward any charges that are currently on the account?

No. Walmart will reimburse you for rebates once your account is closed out in full (with no balances). If there are outstanding balances, they will not be paid off by the rebate. If you close the account and leave a balance, then pay it off with another card, they still will not pay the rebate to you – since technically you never closed your original card.

What do I need to provide when contacting Customer Service about my credit score?

In order to best assist you with any inquiry related to your credit history, we ask that you make sure all of these documents are available: 1) The last four digits of each of your new account numbers from this promotion, 2) the card receipt number for each of these accounts (if available), 3) a legible copy of your credit report showing all three Walmart Credit Card accounts listed and 4) any correspondence related to any action on your Walmart Credit Card.

Will my existing credit cards be impacted in any way?

No. The addition of a new card does not affect other credit lines you have with us.

Are you still giving out rebates for non-Walmart CCs that are applied for from the same day as being approved for the “Walmart Save Money, Live Better” Visa?

Yes! All applications received between October 1st 2008 and December 31st 2008 are eligible for a $100 rebate check, regardless of whether they were on the same day as being approved for the “Walmart Save Money, Live Better” Visa.

What if I already have one? How can I receive this $100?

The answer to that question is answered here: http://slickdeals.net/forums….php?t=1419821. The short answer is – it’s easy! Just go in and pay off your balance, then call customer service and tell them you want to close your account. They will take your info and give you a number and within 4-6 weeks (could be longer depending on when you apply) you’ll get your check 😀

Are there any other Walmart credit cards?

Yes. There is the Walmart Mastercard, which was recently discontinued and then there is the old Walmart Rewards Visa, which I believe are still open to new applicants (unless you have an empty slot from this offer). If they offer either or both of these again in future offers – it’s worth signing up as it will help your credit score. Make sure to always pay on time and carry a low balance!

DETAILED INFORMATION ABOUT WALMART’S CARD OFFER:

What is required once I am approved for the card?

When you are approved for the card, you will need to sign electronically online at www.walmart.com/cpc/ReceiptLock.

When will my rebate statement credit appear on my account?

The statement credit or check will show up on your billing statements after you have paid off the entire balance of all three new accounts. You can pay these with first a Savings Catcher and then this card too – if you want to avoid interest charges from carrying balances.

How do I know when my payments have posted?

You can go into online banking at www.walmart.com/cpc; click on Account Management, then click on Payment Activity. Each payment will be listed with its date, amount and the reference number used by Walmart for that particular payment. If it says “Pending” then it has not been processed yet, but probably.

How do I close my Walmart credit card?

You can cancel a Walmart Credit Card online or by calling Capital One customer service number on the back of the card. To cancel your Walmart Credit Card online, click “I Want To…” (near the top of the page when you sign in), then select “Close Account” from the account services menu.

How much does closing a store credit card hurt your credit?

Closing your credit card won’t affect your credit score unless you’re closing it to open a new account. We want to impress upon you that being in the process of building healthy financial habits means sometimes deciding not to take on new accounts

Is it better to cancel credit cards or let them expire?

Provided that you’re not opening new accounts, cancelling your credit card shouldn’t have an impact on your credit score.

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