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Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?


broncoman wrote:
they FINALLY told me that even though I had the account for 2 years with wamu, it wasn't long enough for chase to want to keep it. 2 years? geez. i'm just glad they re-opened it.

 

Now this is an interesting admission (if it isn't just more noise)! This would make it much more likely that my banged up old account will be retained. It is ten years-old.
New Contributor
akindofmagic
Posts: 56
Registered: ‎08-14-2007
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Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?


DRWHOFAN wrote:

For all those who have had their wamu/chase cards cancelled, what was the date closed?  I have seen july 7th for a few.  So has everyone that has had a cc closed been on july 7th.  Im freaking out worrying about mine but i called on the ninth about another issue and it was still open and fine.  Im hoping this means im ok.

 


Mine was cancelled on July 15th.

Senior Contributor
fishbjc
Posts: 3,414
Registered: ‎11-30-2007
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Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?

Boss' has his limit slashed by 10k
Valued Member
gnetiv
Posts: 30
Registered: ‎10-30-2007
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Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?

My wifes was just canceled 7.16.09:

broncoman: If at all possible could you PM in regards to what steps you took to get yours open.  This is my wife's longest standing credit and with it being closed it could/would damage her score thus making it that more difficult for us to get in a house.

 

Thanks in advance... 

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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?


gnetiv wrote:

...This is my wife's longest standing credit and with it being closed it could/would damage her score thus making it that more difficult for us to get in a house.

Just as an fyi, the card will continue to report for up to ten years after closing, factoring into her account history. So the only thing that she has lost is the credit limit.

If she doesn't carry balances, she should have no score change. And no one should be carrying balances these days. :smileytongue:

For more explanation, read fused's "Closing Credit Cards", linked in my siggy below.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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bugheman
Posts: 25
Registered: ‎07-16-2009
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Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?

Mine cancelled as well - I would suggest for everyone involved to send official notice to atty generals office as well as log complaint with the BBB on this. I logged 3 complaints against chase this morning and will log 3 per day until the situation gets resolved.  Here is the proper BBB to log a complaint against chase

 

BBB of Delaware (New Castle, DE)
60 Reads Way
New Castle, DE 19720
Phone: (302)230-0108
Fax: (302)230-0116
Email: info@delaware.bbb.org
Web: www.delaware.bbb.org

 

If not when you put the proper information in the system this is the bbb local office that should pop up. Flood the gates with propaganda and things will change.

 

 

Valued Member
gnetiv
Posts: 30
Registered: ‎10-30-2007
0

Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?

[ Edited ]

haulingthescoreup wrote:

gnetiv wrote:

...This is my wife's longest standing credit and with it being closed it could/would damage her score thus making it that more difficult for us to get in a house.

Just as an fyi, the card will continue to report for up to ten years after closing, factoring into her account history. So the only thing that she has lost is the credit limit.

If she doesn't carry balances, she should have no score change. And no one should be carrying balances these days. :smileytongue:

For more explanation, read fused's "Closing Credit Cards", linked in my siggy below.
Thanks for the info on that haulingthescoreup.  I'll pull up that thread and read more about that. 

 

Message Edited by gnetiv on 07-17-2009 09:56 AM
Valued Member
gnetiv
Posts: 30
Registered: ‎10-30-2007
0

Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?


bugheman wrote:

Mine cancelled as well - I would suggest for everyone involved to send official notice to atty generals office as well as log complaint with the BBB on this. I logged 3 complaints against chase this morning and will log 3 per day until the situation gets resolved.  Here is the proper BBB to log a complaint against chase

 

BBB of Delaware (New Castle, DE)
60 Reads Way
New Castle, DE 19720
Phone: (302)230-0108
Fax: (302)230-0116
Email: info@delaware.bbb.org
Web: www.delaware.bbb.org

 

If not when you put the proper information in the system this is the bbb local office that should pop up. Flood the gates with propaganda and things will change.

 

 


Thanks bugheman for this info.  I also saw it on my other thread...definatley will do all I can to resolve this!

 

Frequent Contributor
rubaty
Posts: 380
Registered: ‎11-18-2007
0

Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?


creditwherecreditisdue wrote:

broncoman wrote:
they FINALLY told me that even though I had the account for 2 years with wamu, it wasn't long enough for chase to want to keep it. 2 years? geez. i'm just glad they re-opened it.

 

Now this is an interesting admission (if it isn't just more noise)! This would make it much more likely that my banged up old account will be retained. It is ten years-old.

 

Very interesting and I hope that it's true so I don't have to worry!  I have had my providian/wamu CC for 14 years.

Current Score: EX 718 EQ 689 TU 757 23 Jun 13
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TomKo
Posts: 3
Registered: ‎07-18-2009
0

Re: QUESTION FOR THOSE WITH CANCELLED WAMU/CHASE?


score_building wrote:

broncoman wrote:
I didn't get a letter either, and they said they had no way to fax me a copy, and that they kept no records of it. is that legal? don;t they have to keep proof that they sent it, or else be in violation of the FCRA?

1.  yes it's legal.

 

2.  no- card cancellation is not governed by the FCRA.  an issuer can cancel a cc acct. at any time for any   

     reason.  credit is not a right, it's a privilege.


What I question is the legality of their letters. Mine says "This decision was made in whole or in part by information provided by..... Experian (TRW)...." The problem is that they never requested any information from Experian. I suspect that they are closing all these accounts without even requesting any information from Experian. One would think that their letter constitutes fraud as their decision was not even partially based on the credit report.


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