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Established Contributor
Posts: 519
Registered: ‎05-09-2008
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Chase to purchase Wamu?

There has been some talks/speculations that Chase might buyout Wamu (Wamu got themselves into a heap of financial trouble over all the sub-prime mortgage loans they handed out a few years ago). This would also be a strategic move on Chase's part to expand Chase into the West Coast since they're predominantly East Coast based bank.

So if Chase purchases Wamu, does that mean my cruddy little Wamu card will potentially become a Chase card?
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Barclays US Airways Premier World Mastercard $14500
Chase Sapphire Preferred $5000
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Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
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Re: Chase to purchase Wamu?

IMO- it is posible - bit I think Chase has looked at it and will wait for the stock price to go even further down.
 
Stockholders at at the bottom of the list if FDIC were to move in.
 
and at -$10 EPS I woould not touch them with a 10 ft pole.
 
3.3 Bil loss 2nd QTR is 1/2 of the total value of their stock.
Established Contributor
Posts: 971
Registered: ‎01-13-2008
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Re: Chase to purchase Wamu?

I certainly hple not. WaMu bought Providian I think. I was relying on chase for my first high prime in just a few months and I was denied by WaMu in my earlier rebuyilding days for the Providian I had in a BK long ago.
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
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Re: Chase to purchase Wamu?

I definitely see it as possible. WAMU has reported some substantial losses, but as Timothy said, I think Chase might bide their time for the stock to plummet further.
Here we go again...
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Posts: 16,383
Registered: ‎03-12-2007
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Re: Chase to purchase Wamu?



aftermath wrote:

So if Chase purchases Wamu, does that mean my cruddy little Wamu card will potentially become a Chase card?

I say let's hope not.Smiley Happy
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Established Contributor
Posts: 519
Registered: ‎05-09-2008
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Re: Chase to purchase Wamu?



fused wrote:







aftermath wrote:

So if Chase purchases Wamu, does that mean my cruddy little Wamu card will potentially become a Chase card?



I say let's hope not.Smiley Happy






Why not? I would think people would prefer having a Chase over a Wamu, especially if it is automatically converted over.
American Express Blue Cash Everyday $6600
Barclays US Airways Premier World Mastercard $14500
Chase Sapphire Preferred $5000
Chase Freedom Visa $1000
Chase United Explorer $8500
Citi AAdvantage Platinum Select Visa Signature $7500
Citi ThankYou Premier World Mastercard $7500
Established Contributor
Posts: 683
Registered: ‎04-05-2008
0

Re: Chase to purchase Wamu?

Oh my. Say it tisn't so!

I included Chase Auto in my BK. Repaid it in the BK but I don't want them to try to oust me like WaMu does Orchard CC holders. Smiley Sad

Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


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Starting Score: 708
Current Score: 743
Goal Score: 800


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Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
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Re: Chase to purchase Wamu?



Uniqua wrote:
Oh my. Say it tisn't so!

I included Chase Auto in my BK. Repaid it in the BK but I don't want them to try to oust me like WaMu does Orchard CC holders. Smiley Sad

Providian

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Established Contributor
Posts: 683
Registered: ‎04-05-2008
0

Re: Chase to purchase Wamu?

Whoops! My bad, Providian.

I hear so many bad things about the two I can't distinguish one from the other!

Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


Take the FICO Fitness Challenge


Starting Score: 708
Current Score: 743
Goal Score: 800


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Established Contributor
Posts: 971
Registered: ‎01-13-2008
0

Re: Chase to purchase Wamu?

Yep. Happened to me. I'm grateful now as I really don't want to have anything to do with WaMu now that I know better.

cheddar wrote:


Uniqua wrote:
Oh my. Say it tisn't so!

I included Chase Auto in my BK. Repaid it in the BK but I don't want them to try to oust me like WaMu does Orchard CC holders. Smiley Sad

Providian

 



1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
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