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Applied for a Walmart credit card in December 2008. Charged approximately $600. in merchandise. Throughout spring and summer have paid 2 to 3 times the minimum payment on a card that was above 19 percent.

I wanted to pay off as quickly as possible at such a high rate. Down to about $200. at this time. Two months ago I recieved a letter stating since I was such a great credit customer they were raising my credit limit. I did not request nor desire this. Last month I received a letter stating Walmart was raising my interest rate to 22.9%. How they justified this when I called to inquire why? They couldn't.

I told the representative I have always paid all my bills on time, always paid 2 or 3 times the minimum balance. They did not care and told me this was the new rate. I am paying off the last $220. this month and already told them to close my account. This is an outrageous way to do business. The largest company in America and they are robbing the people who can least afford it. The arrogance of the company not to offer an explaination or justification for raising the A.P.R. to loan shark status is disgusting.

I don't shop at Walmart often and they have convinced me along with hundreds of thousands of others not to do business with them at all. America consider your choices carefully who you have credit with. We do not have to put up with such treatment.

Product or Service Mentioned: Walmart Credit Card.

Monetary Loss: $22.

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Anonymous
#112997

Thats a great story, I too have been discusted with Walmart credit cards. I was issued one a month ago, and thought revolving credit with a store I buy my everyday things seemed like a good idea.

I made two 300.oo dollar payments in one month and was surprised to find that Walmart would not let me use my card after the 2nd payment. When I called to inquire why, they told me it was unusual for someone to make 2 large payments in the same month and that I'd have to wait a week before I could use the money in my account so they could investigate my payment history.

What?!, I paid that payment out of my checking account, since when are credit companies worried about where their money is coming from. This is terrible business and I wish I'd never got the card in the first place.

Anonymous
#76967

The problem here is not with Walmart it is with GEMB. They issue you the credit and raise the interest.

Walmart has nothing to do with this.

The country is going through tough times right now. Most credit card company's are raising interest rates, if not just cancelling credit cards without notice.

Hate Walmart
#76285

Can't agree more. I don't do business with them either :(

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