I recently opened a Walmart card account last week with the promotion they had going on. Today I got a credit alert and when I checked it, I noticed my score was a few points lower, seven to be exact.
While I'm aware that this usually happens, I've read a lot of bad reviews for the Walmart card. Especially the one about how they raise and lower your limit without warning, even when your payments have been paid on time. It's just a lot to take in. But it's just that when I was asked, the clerk made it seem like it was so great, no justification here. Although I'm a very frequent Walmart shopper, I feel that it wasn't the best thing to do.
So my question is, would it do my credit score greater damage if I close it?
I mean it's so new that I haven't even received my card yet. I feel so stupid because I could've easily paid the bill that was accumulated that day in the store, and I don't know why I didn't. I'm going to call Walmart customer service to pay it, but my question still stands if it's going to be a bad move or not to close it. Any advice is greatly appreciated.