What credit score do I need for a Walmart credit card? (What are my approval odds?)

By Laura Mack

Earlier than we discuss credit scores and approval odds, you need to perceive how the Walmart credit card software course of works.

Walmart gives two totally different credit playing cards issued by Synchrony Financial institution (though these playing cards will quickly be transitioning to Capital One). There’s the Walmart Mastercard (accepted at Walmart and at some other shops that settle for Mastercard) and the Walmart retailer credit card (accepted solely at Walmart and Sam’s Membership).

Once you apply, you do not select which card you need. As a substitute, you’ll first be thought of for the Walmart Mastercard, which requires a higher credit historical past. In case your credit historical past is nice sufficient, you’ll be accredited for that card. In case your credit historical past is less than the requirements set for that card, they are going to then contemplate you for the Walmart retailer card, which doesn’t require pretty much as good of a credit historical past. You could then be accredited for that card, or after all you may be rejected for that as effectively.

So what sort of credit scores do you need to qualify for these playing cards? What are your odds of approval?

Clearly the upper your credit score, the higher your probabilities for approval, and the higher your probabilities for being accredited for the Walmart Mastercard versus the store-only card. Utilizing some somewhat extensive credit score ranges, right here are estimated approval odds:

  • Credit scores above 750: Odds of approval are very excessive, 85% ought to qualify for the Walmart Mastercard, 97% ought to qualify for not less than one of many playing cards.
  • Credit scores between 700-749: Odds of approval are about 70%-80% for the Walmart Mastercard, and about 90% to qualify for not less than one of many playing cards.
  • Credit scores between 650 and 699: Odds of approval are about 65% for the Walmart Mastercard, and about 80% to qualify for not less than one of many playing cards.
  • Credit scores beneath 650: Odds of approval are about 50-50 for the Walmart Mastercard at or close to 650, and about 65% to qualify for not less than one of many playing cards. The chances of approval for both card go down very quickly past that time.