What Credit Bureau Does Walmart Use in 2024? The Complete Guide

Walmart offers shoppers the enticing option to sign up for a store branded credit card and earn ongoing rewards. But before applying, many smart consumers wonder – what credit bureau does Walmart actually check?

With over $400 billion in annual revenue, Walmart has the scale to negotiate spectacular financing offers. By partnering with Capital One Bank to issue their co-branded Mastercard, customers can save money with low ongoing APRs.

However, you need good enough credit to qualify for Walmart‘s card perks in the first place.

This in-depth guide examines Walmart‘s credit card eligibility requirements in 2024, including:

• Details on Capital One‘s application criteria
• The credit bureaus checked by Walmart
• Ideal credit scores for approval odds
• How using the store card impacts your credit
• Expert advice to manage your finances

Let‘s dive in to what credit bureau Walmart uses to screen applicants wanting retail therapy on store credit.

An Overview of Walmart‘s Store Credit Card

Walmart and Capital One Bank issue a co-branded store credit card that offers cardholders special financing and discounts for shopping at Walmart.

The Walmart Rewards Card provides the following key features:

• 5% cash back on Walmart.com purchases
• 2% cashback in Walmart stores
• 2% back on restaurants and travel
• No annual fees
• Financing offers on big purchases

With over 11,500 Walmart stores across North America, the store card gives dedicated customers savings on an enormous range of everyday items from groceries to apparel.

Walmart Credit Card Checks Major Credit Bureaus

Walmart‘s application process involves Capital One Bank pulling your credit file from Equifax, Experian, or TransUnion – the three largest credit reporting bureaus.

Often more than one bureau is checked to get a complete view of the applicant‘s financial history, including:

✔️ Credit card balances
✔️ Loan payment history
✔️ Credit age and variety
✔️ Hard credit inquiries
✔️ Public records

These details contained in your credit file help Capital One evaluate income, debts, payment behaviors, and ultimately your credit risk to set an appropriate APR and credit limit.

What Credit Score Does Walmart Look For?

The average FICO credit score in America is 716, but Walmart wants to see applicants with FICO scores of 690+ for the highest approval odds.

var ctx = document.getElementById("chart").getContext(‘2d‘);
var myChart = new Chart(ctx, {
type: ‘doughnut‘,
data: {
labels: ["Exceptional (800-850)", "Very Good (740-799)", "Good (670-739)", "Fair (580-669)", "Poor (300-579)"],
datasets: [{
label: ‘Credit Score Distribution (% of Consumers)‘,
data: [40, 22, 15, 14, 9 ],
backgroundColor: [
‘#008000‘,
‘#00FF00‘,
‘#90EE90‘,
‘#FFA500‘,
‘#FF0000‘
] }] },
options: {
responsive: true
}
});

While you might get approved with a 670 FICO, experts strongly recommend being in the "very good" credit category before applying for Walmart‘s card to maximize approval chances and credit line amount.

Check for Walmart credit card pre-qualification on Capital One‘s site to estimate your eligibility. This avoids a hard credit check until formally submitting an application.

Walmart Credit Card‘s Impact on Your Credit Profile

Opening a new credit card account and responsibly managing payments builds your credit history over time. Walmart‘s card from Capital One Bank operates similarly to any major rewards cards in this regard.

Here are some scenarios showing the Walmart credit card‘s effect on your credit score:

✔️ Making monthly payments on-time builds positive payment history with your credit report and may increase your credit score by 10-30 points per year.

❌ Late payments get reported to credit bureaus and can reduce credit scores quickly by up to 110 points with just one 30-day late payment.

❌ Excess balances carried month-to-month leads to higher credit utilization. Experts recommend keeping this below 30%. High credit usage can reduce your credit score gradually.

✔️ After 12 months or more of positive payment history, ask Capital One for a credit line increase. This keeps your utilization lower as your spend increases over time.

So while Walmart‘s card can certainly help build your credit profile with responsible use over time, late or missed payments can damage scores quickly.

Expert Tips on Managing Your Walmart Credit Card

To manage your Walmart credit card wisely, consumer finance experts recommend:

• Pay at least the minimum monthly payment on-time
• Setup autopay with Capital One to avoid late fees
• Keep overall credit utilization below 30% across all cards
• Check your credit score every 6 months to monitor changes
• Apply for CLI to lower utilization ratios
• Contact Capital One support if money gets tight

Building credit takes diligence across all your lending relationships. But consumers who manage credit well get access to the best rewards cards, lowest loan rates, apartment rentals and more.

The Final Takeaway

Walmart leverages your credit data from Equifax, Experian and TransUnion to determine approval eligibility for their popular store branded credit card issued by Capital One Bank.

To qualify for the best rates and highest limits, applicants should aim for credit scores of 690+ before applying in 2024. Using the card properly also lets responsible customers build positive credit history over time.

So review your latest credit report and FICO score to estimate your approval odds before filling out Walmart‘s quick pre-qualification form online. The store card‘s dining rewards, discounted financing promos and up to 5% cashback makes this an attractive option for frequent Walmart shoppers.