I will guess that the Walmart credit card would be considered a bankruptcy friendly credit card, just because it’s Walmart and Walmart loves some broke people. I generally love Walmart right back.
I was approved for the regular Walmart card about a year after my bankruptcy was discharged. I have not used this card much as I can’t find much reason to use it except to add more debt to my slightly sloppy financial picture.
Walmart offers a store credit card and a Walmart Discover credit card. If you must have a Walmart credit card, I would definitely try to get the Discover, but if you’ve filed bankruptcy, Discover is not usually very forgiving or bankruptcy friendly. Here is the comparison of the two cards:
As you can see, the only clear benefit to having the Walmart store card is that you save 3 cents per gallon at participating Walmart gas stations. I don’t think I’ve ever even seen one of these, and to be honest didn’t know this was a benefit of the card. The interest rate on both cards is 22.90%, which in the case of the store card and saving 3 cents on gas, makes it not really worth it. At least with the Discover version of the Walmart card there is a rewards program that consists of 1% cash back.
If you noticed at the top of the graphic, you can receive $20 if you get a card now and spend $100. Still don’t think that’s worth it. The few times that I have used this card, I make sure I pay it off. I am keeping it for the open line of credit, which helps my debt to credit ratio a little, but as I said, I still don’t see any real reason to have this credit card. There are other cards that would give you cash back on all purchases, even Walmart purchases, and would probably be a better deal.