Crazy WaMu CC Issues

[Anonymous]

I wonder if anybody out there is having problems with getting approved for a WaMu card. (Perhaps because of the state of WaMu right now.)

Anyway, I received a denial letter, which did not specify why I was denied, only stating that you can call or write to get specific reasoning. I called and asked to speak to an underwrite to see about a reconsideration. I was told flatly, twice, there are no underwriters!?!?

I've been in the finance industry several years and I'm still scratching my head. I believe she meant there were none with available extensions, but I'm still lost. I asked if they even do reconsiderations, and she said that they could send a letter stating why the app was declined but that was all. She could not/would not help with a recon.

The CRA they pulled was Transunion and my score there is 746-with no derogs at all and less than 10% util. All my other credit cards at below 9.24% and yet, I can't even get this one.

Anybody got a clue what is going on over there?

[unknown_entity]

Try this number 1-800-345-8403 from 6am-5pm mon-fri pacific time.  I think you have to fax them an updated Experian report in order to get reconsidered.  I have one in right now, called them this morning and no word yet  

Message Edited by unknown_entity on 04-16-2008 04:49 PM

[ficonovice]

No clue, but take it as a sign to stay away. I hate WaMu and there are several other cards that will approve you, give you a healthy credit line and provide good customer service....just move on to the real prime cards such as BoA, Citi, Chase, AMEX and Discover (in that order in my opinion)...

Sorry if my response seems a little snide, but when I even see the name WaMu, my skin crawls....

[Anonymous]

Yeah, I was really taken aback when I was told that by the CSR. I have Awesome prime rewards cards at 8.25% & 9.24% with Chase and BOA and love them. I really wanted the WaMu card so I can monitor my score (fico nerd!) and I've heard they provide very healthy credit lines.

It boggles my mind because I've got friends in the high 500's/low 600's that have crazy credit lines, and yet, nothing for the guy over here with good credit. It makes no sense.

The reason I want to pursue is that I don't want that inquiry to die in vein! If I have to have an inq. I want an approval!

[unknown_entity]

Try this number 1-800-345-8403 from 6am-5pm mon-fri pacific time.  I think you have to fax them an updated Experian report in order to get reconsidered.  I have one in right now, called them this morning and no word yet  

[Anonymous]

That was the number I called. I don't know that it's worth me paying to pull another credit report so they can see it. Considering my TU is basically perfect, can't they just do another soft pull of that if/when they do a manual review?

Should I try to send in a letter instead of calling?

[unknown_entity]

You can pull your EX report for free since you were denied.  There is an option on that number to get the fax number and if you got a letter you can enter the code in the bottom left hand corner and get a CSR.  Sometimes calling back and getting a different person can make a world of difference.

[ficonovice]

I could be wrong, but is it possible (seeing as they're at best a mid-prime card) that they cater to the fair to good credit market and stay away from those with very good to excellent credit? Probably a crazy thought, but I've seen enough here that almost indicates that scenario.

I know I can't get them to give me a CLI and my scores are in the high 700's. I even tried using their stinkin card the last few months to see if they'd perk up, but nooooo. All it got me was a FICO decrease when they reported a $4.00 balance that I was assured from their "great" CSR team wouldn't be there....

Has anyone here with excellent credit recently received a card from them with a good limit?

[Anonymous]

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@ficonovice wrote:

I could be wrong, but is it possible (seeing as they're at best a mid-prime card) that they cater to the fair to good credit market and stay away from those with very good to excellent credit? Probably a crazy thought, but I've seen enough here that almost indicates that scenario.

I know I can't get them to give me a CLI and my scores are in the high 700's. I even tried using their stinkin card the last few months to see if they'd perk up, but nooooo. All it got me was a FICO decrease when they reported a $4.00 balance that I was assured from their "great" CSR team wouldn't be there....

Has anyone here with excellent credit recently received a card from them with a good limit?

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You know, you may be onto something f.n. I received a pre-approval in the mail last October. They approved me for $6,500 cl and my scores TU PFICO score was651.

I have to admit though, I had an old Providian card for 8 years prior to that though. Maybe that had something to do with the approval.

Who knows about them now days? I heard yesterday that in the first quarter, they lost another 1.14 billion, with a B dollars due to their sub-prime mortgage mess they got themselves into.

[Anonymous]

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@ficonovice wrote:

I could be wrong, but is it possible (seeing as they're at best a mid-prime card) that they cater to the fair to good credit market and stay away from those with very good to excellent credit? Probably a crazy thought, but I've seen enough here that almost indicates that scenario.

I know I can't get them to give me a CLI and my scores are in the high 700's. I even tried using their stinkin card the last few months to see if they'd perk up, but nooooo. All it got me was a FICO decrease when they reported a $4.00 balance that I was assured from their "great" CSR team wouldn't be there....

Has anyone here with excellent credit recently received a card from them with a good limit?

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I think Cheddar is in the 700's and didn't he just get a 15K recently from WAMU. I am almost positive he did. And that was very recent.