Crazy WaMu CC Issues

[ficonovice]

Hey, just a crazy theory, but I do believe WaMu is very shaky in virtually every way.

We'll let Cheddar pipe in, but I think his scores were/are on the borderline between 600's and 700's.

If his are in the upper 600's, I'll let my theory stand for what it is for now...

[Anonymous]

I paid off a $3000 credit card balance with them. I sold an instrument to do it, it's not like I transferred a balanace or anything. What was my reward for doing this financially responsible thing? They lowered my credit limit dramatically which made my FICO plummet! FU WAMU!

Anyway, I do think WAMU is out there for the fair to good credit market. If you don't look at least a little risky, they are not going to make money off of you. That's what I think anyway.

[Anonymous]

Well, if that's the case, that makes perfect financial sense.(Sarcasm)

Let's take risks on people with so-so credit and shun consumers that are likely to pay back their debt. Maybe everybody is on to something. And perhaps I should just stay away.

No wonder they are reporting such huge losses.

[ficonovice]

Their losses are indicative of their overall indifference and ineptitude.

No offense at all to Cheddar, but when he was approved by WaMu in early April, his score was 696 (if WaMu pulled TU). 696 is a good score, and is close to very good, but I'll let my theory stand. WaMu probably looks to the fair to the high end of the good range of scores and they think that's where their profits will be generated from.

Yes, yes, I'm bitter at WaMu and hate them, but I think I'm onto something

[haulingthescoreup]

It's quite possible that WaMu's recent "difficulties" have it looking for those that it thinks might be more likely to carry balances, and thus pay interest. Not looking for problem customers, because it costs money to get delinquent customers to cough up, but maybe for those who might use part of a $10K CL to let a couple of thousand ride along for a while, giving them those nice little finance charges.

If this is true, I say let all of us here with WaMu cards break their hearts!

[ficonovice]

Amen hauling. I hate to see anyone give WaMu one single cent...they don't deserve it and don't know what to do with it....

Down with WaMu, Down with WaMu!!!! 

[unknown_entity]

I would imagine that it's pretty hard to hook a guy up with a 15-22% interest card when their scores are in the 700's.  The truth may be that they cater to the mid to low 600's for that reason. 

[Anonymous]

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ficonovice wrote:

Hey, just a crazy theory, but I do believe WaMu is very shaky in virtually every way.

We'll let Cheddar pipe in, but I think his scores were/are on the borderline between 600's and 700's.

If his are in the upper 600's, I'll let my theory stand for what it is for now...

---

They pulled EX on me, which was 741 at the time.  I'll let you decide whether that constitutes fair/good or good/very good.  Certainly not excellent.

Yes, they did give me $15K.

Edit: Correction.  EX was 737 at the time I apped for WaMu.  It was 741 a week later when I got the BofA Amex, which cost me 9 points.

Message Edited by cheddar on 04-16-2008 07:42 PM

[Anonymous]

Just as a point of reference, I also wanted to mention that my DF got a WaMu card last September, and they gave her $9K.  I don't remember her exact EX score at the time (WaMu always pulls EX on both of us), but all of her scores have been consistently in the 755-775 range for the last year.

[Anonymous]

Cheddar hope you don't mind me dropping your name. I remembered you getting decent limit thru WAMU with a score close to that of mrchase.

IMHO it ranks good-VERYgood~!

I can't wait to join that club!