topic Re: Wamu/Chase Product Conversion Letter in Credit Cards

Wamu/Chase Product Conversion Letter

tatiana — Fri, 30 Jan 2009 06:14:17 GMT

Apologies if this has been posted already.

Today, I got a second note from Chase informing me that my Wamu Platinum Mastercard (w/Rewards) was being converted into the Chase Flexible Rewards Mastercard.

I think my existing card is a Flexible Rewards Mastercard, although when I asked the rep a few months ago, she claimed it was "a MasterCard Classic with rewards program attached." Same thing? LOL.

Anyway, come March I think I'm gonna ask them to change it to Freedom.

Re: Wamu/Chase Product Conversion Letter

Anonymous — Fri, 30 Jan 2009 14:34:09 GMT

ooooooooo exciting! Thanks for posting this. I wonder when I will get my letter.

Re: Wamu/Chase Product Conversion Letter

orl2185 — Fri, 30 Jan 2009 14:53:01 GMT

Thank you for your support of the ESPN Total Access Rewards Program. We have been proud to provide fans like you with a variety of unique sports rewards and experiences not available through any other program.

You will be receiving a letter from JPMorgan Chase informing you that certain WaMu assets, including your ESPN Total Access Visa® card, have become part of JPMorgan Chase and that Chase has decided to discontinue the ESPN Total Access Visa Card. ESPN will not be involved in the Chase program.

We value you as an ESPN Total Access Rewards member and fan and want to make sure that you are aware of the following transition information:

ESPN Total Access Rewards points are still valid. The transition to Chase Flexible Rewards will take effect as of the first day of the billing cycle that includes February 14, 2009. Points earned prior to this billing cycle will be earned as ESPN Total Access Rewards. Points earned in the billing cycle that includes February 14, 2009 (and beyond) will be Chase Flexible Rewards points. If you have any questions regarding this, please refer to the letter Chase sent or call Chase Customer Service at 1-800-280-0561.
JPMorgan Chase will convert qualified ESPN Total Access Visa® accounts into Chase Flexible RewardsSM credit cards by March 6, 2009. ESPN will not be involved in the Chase program.
You have until April 15, 2009 to redeem your ESPN Total Access Rewards points. You can either redeem your points online at www.espntotalaccess.com or over the phone by calling the ESPN Total Access Rewards Customer Service Center at 1-800-216-5325.
On April 16, 2009 the ESPN Total Access Rewards Program will be discontinued.
If you have redeemed points for a 2009 event, ESPN will honor the redemption. If you prefer to have the points credited to your account so that you can redeem them for another reward prior to the program end date, please call 1-800-216-5325.

We are truly sorry for any inconvenience that Chase's decision may cause. For more information, please visit www.espntotalaccess.com.

Sincerely,
The ESPN Total Access Rewards Team

Re: Wamu/Chase Product Conversion Letter

preci0uz — Fri, 30 Jan 2009 14:56:11 GMT

Tatiana,

I got the same letter yesterday.

However, this part of the letter worried me a bit....

it says "if you continue to meet our credit criteria, you should receive your new Chase card during the month of March".

Thank goodness my cards are now showing zero balance and only 2 balance reporting now.

Message Edited by preci0uz on 01-30-2009 09:56 AM

Re: Wamu/Chase Product Conversion Letter

oracles — Fri, 30 Jan 2009 17:18:38 GMT

Good for you preci0uz

Kudos to you

Re: Wamu/Chase Product Conversion Letter

timber — Sat, 31 Jan 2009 00:16:58 GMT

Same deal for the PetSmart Visa cards... I got same letter yesterday that my PetSmart card will be converted to a Chase Fexible Rewards Visa. Too bad, cause I really like having the customized photo card with a picture of my yellow lab on it. After I receive the new Chase card in March, I will probably call to see about converting it to a Southwest Rapid Rewards Visa, which I think has an AF. I also have another regular Wamu Platinum Visa with a 15K CL that I will convert to a Chase Freedom. Really looking forward to a Chase CC, since I bank there and also have my auto loan with them.

Re: Wamu/Chase Product Conversion Letter

Anonymous — Sat, 31 Jan 2009 01:40:32 GMT

I also got a second letter today. This one welcoming me to Chase. It has a similar statement regarding meeting credit criteria but the wording is:

"When your existing card expires, you will receive a new Chase card, subject to continuing to meet our credit criteria"

My letter does not specify what type of credit card it is. It just says "will be converted into a Chase credit card on March 9"

I called wamu/chase and asked them about this but they couldn't tell me anything. The only other thing I got was a Visa Guide to Benefits.

Maybe the "meeting credit criteria" is standard?

Re: Wamu/Chase Product Conversion Letter

oracles — Sat, 31 Jan 2009 02:00:24 GMT

@Anonymous wrote:
I also got a second letter today. This one welcoming me to Chase. It has a similar statement regarding meeting credit criteria but the wording is:

"When your existing card expires, you will receive a new Chase card, subject to continuing to meet our credit criteria"

My letter does not specify what type of credit card it is. It just says "will be converted into a Chase credit card on March 9"

I called wamu/chase and asked them about this but they couldn't tell me anything. The only other thing I got was a Visa Guide to Benefits.

Maybe the "meeting credit criteria" is standard?

I got the same thing today in the mail as well goingforadream.

You get a new card once the wamu card expires

Message Edited by oracles on 01-30-2009 09:00 PM

Re: Wamu/Chase Product Conversion Letter

tatiana — Sat, 31 Jan 2009 17:06:34 GMT

I agree with whomever surmised that the "subject to continuing to meet our credit criteria" is just blanket-CYA on their part.

I'm pretty much expecting more of the same from Chase - nothing amazing, but nothing ridiculous, either. After something like 8 years with them, Chase has never come after me, nor have they had any reason to. I guess folks with lots of debt or fresh credit blemishes might have something to fear, but that's par for the course with any creditor (even when the credit market isn't hemorrahging cheese).

Re: Wamu/Chase Product Conversion Letter

Anonymous — Thu, 05 Feb 2009 15:16:14 GMT

Timber wrote: "I also have another regular Wamu Platinum Visa with a 15K CL that I will convert to a Chase Freedom"

Guys, to the best of my knowledge, the Freedom card reports in the same manner Signature cards do, that is, they don't report the credit limit, just the high balance.

If you've got a 15K CL on the Wamu card, but only had a high balance on it of 2K, then the 2K will be used as your credit limit for the Freedom card. This could really put a dent in your score based on lower total limit/increased utilization.

Thought it was worth mentioning...

Re: Wamu/Chase Product Conversion Letter

Anonymous — Thu, 05 Feb 2009 15:19:44 GMT

Correction: I wrote "If you've got a 15K CL on the Wamu card, but only had a high balance on it of 2K, then the 2K will be used as your credit limit for the Freedom card." I meant to write "If you've got a 15K CL on the Wamu card, but only had a high balance on it of 2K, then the 2K will be used on your report in place of your credit limit for the Freedom card."

Re: Wamu/Chase Product Conversion Letter

Anonymous — Thu, 05 Feb 2009 16:35:44 GMT

Hi everyone...been reading these boards the past few days, I've learned alot...thanks guys! I wonder, when I opened the Wamu card, I did a bt onto it since it had 12 month no interest...will Chase still give me the no interest on that? Per my letter, all Wamu benefits will be cancelled and replaced with Chase benefits. I had until Sept. of 09 to pay it off, but will be paid off before then. I have had no purchases yet on the card, just the bt. Thanks.

Re: Wamu/Chase Product Conversion Letter

Creditaddict — Thu, 05 Feb 2009 16:44:59 GMT

@Anonymous wrote:
Correction: I wrote "If you've got a 15K CL on the Wamu card, but only had a high balance on it of 2K, then the 2K will be used as your credit limit for the Freedom card." I meant to write "If you've got a 15K CL on the Wamu card, but only had a high balance on it of 2K, then the 2K will be used on your report in place of your credit limit for the Freedom card."

The freedom card reports CL, the Chase Signature cards do only report high balance vs cl.

They make both kinds of freedom card, signature and non signature.

Re: Wamu/Chase Product Conversion Letter

oracles — Thu, 05 Feb 2009 16:58:16 GMT

@Creditaddict wrote:
@Anonymous wrote:
Correction: I wrote "If you've got a 15K CL on the Wamu card, but only had a high balance on it of 2K, then the 2K will be used as your credit limit for the Freedom card." I meant to write "If you've got a 15K CL on the Wamu card, but only had a high balance on it of 2K, then the 2K will be used on your report in place of your credit limit for the Freedom card."

The freedom card reports CL, the Chase Signature cards do only report high balance vs cl.
They make both kinds of freedom card, signature and non signature.

This is correct,

I had a chase freedom and then upgraded to chase freedom plus.

They both report the credit limit.

As creditaddict has already stated, there are the signature and regular version of the freedom card.

Just make sure you receive the regular version.

HTH

Re: Wamu/Chase Product Conversion Letter

Anonymous — Thu, 05 Feb 2009 18:52:03 GMT

A big "Thank You" to oracles and creditaddict!

I did NOT know this, and when I declined a Freedom card thru Chase, I did so because I was told by the Chase CSR that they did not report the limit, only the high balance. The CSR never told me there were, in fact, TWO flavors of this card! I would have accepted the regular version had I known.

Oh, well...

This is why I come here...I learn something new (or more accurate) every time I visit. Thanks, all.

Re: Wamu/Chase Product Conversion Letter

Anonymous — Thu, 05 Feb 2009 18:59:50 GMT

Welcome, danbaby98!

The WaMu benefits (rewards program) are going away, replaced by the Chase benefits.

The card won't switch over 'til your current card expires, at least that's what my letter said. It also said that all intro rates, etc. remain in force as long as you still meet the original terms (no lates, overlimits or bad payments).

You should be OK!

Re: Wamu/Chase Product Conversion Letter

oracles — Thu, 05 Feb 2009 20:30:03 GMT

@Anonymous wrote:
A big "Thank You" to oracles and creditaddict!

I did NOT know this, and when I declined a Freedom card thru Chase, I did so because I was told by the Chase CSR that they did not report the limit, only the high balance. The CSR never told me there were, in fact, TWO flavors of this card! I would have accepted the regular version had I known.

Oh, well...

This is why I come here...I learn something new (or more accurate) every time I visit. Thanks, all.

No problem Uborrow

We all come here to learn from each other