topic Re: WaMu Pre Approved Offer in Credit Cards

WaMu Pre Approved Offer

Anonymous — Fri, 07 Dec 2007 01:33:50 GMT

Good Afternoon

I received a pre approved offer today from WaMu and I am trying to decide if I should accept. Are they prime? Who do they pull from? Do they pull on pre apporved offers? I applied for them in July, but was denied. Since them my situation has improved. Please ring in with your experiences.

WBLAKE

Re: WaMu Pre Approved Offer

SmartCookie — Fri, 07 Dec 2007 01:38:32 GMT

Sub prime but not horribly. They pull from EX typically if not always these days. Yes the pre-approved letter you got was from a soft promo INQ... when you apply you will get a hard INQ. Approval is instant and they tell you your CL right on the screen usually.

The majority of people I've heard of get this offer got approved. Some did not. They do give a nice starting limit compared to other cards in the same range.

If you had any major credit downswings or large amounts of apps in the past 4-6 weeks I would hold off.

Re: WaMu Pre Approved Offer

Anonymous — Fri, 07 Dec 2007 01:42:27 GMT

I think people onfused WaMu with the company they purchased,Providian. Don't think they are sub-prime but near prime. They are not Amex Discover Citi or BofA all prime issuers but they are NOT subprime. I don't know which offer you received but your decision should be based on the T&Cs of your offer. Some peopel love them some hate them. I got lucky with my T&Cs, others not so lucky. Look for key words like UD, two-cycle billing..etc.

I have had two CLIs each at 6 mos marks. first one was 1k second was 2.5

Message Edited by Brammy on 12-06-2007 08:42 PM

Re: WaMu Pre Approved Offer

Anonymous — Fri, 07 Dec 2007 02:12:58 GMT

WAMU is still the best looking card on my Credit report-

Highly recommended- if your credit profiles has not changed- you will be approved.

Amount of time, payment history, CL.
It gets it's $400 a month and PIF.

Message Edited by Timothy on 12-06-2007 06:12 PM

Re: WaMu Pre Approved Offer

Anonymous — Fri, 07 Dec 2007 04:43:09 GMT

WaMu is mine too Timothy.

I had a Providian card before WaMu bought them. had $3,200 cl on it. After the buyout, WaMu decreased cl to $1,320. Almost closed the acct. because of that. Glad I didn't.

To original poster: I too got a pre-approval letter in early October. I applied over the phone, was told to expect their reply in 30 days. Uggghhh.

3 weeks later I received a new WaMu Platinum Visa with $6,500 cl. By far my highest cl card.

If you apply, keep low balances on it, and pay WELL before the due date. They will treat you well.

Good luck and do please keep us informed as to how it went.

Re: WaMu Pre Approved Offer

nathan — Fri, 07 Dec 2007 15:22:53 GMT

Yes they will still do a hard if you apply. Many people from this forum have indicated that wamu usually fulls from tu. As Tuscani always says, preapproval does not neccessarily mean a guarantee.

Re: WaMu Pre Approved Offer

Anonymous — Fri, 07 Dec 2007 19:43:36 GMT

I received a pre-approval from Wamu about a month ago for 0% interest for 12 months with a balance transfer. I applied on-line and in 60 seconds it came up approved with a $2000.00 credit limit. They pulled Transunion for me and I live in NY. Maybe you should try looking at your soft inquiries on your reports to see who they may pull for you. Good Luck!

Re: WaMu Pre Approved Offer

Anonymous — Fri, 07 Dec 2007 19:52:47 GMT

Glad to see other people actually like WaMu. I can't complain,even though Wamu isn't the highest limit in my wallet, it has been the most generous. Just do what you are supposed t do and they will be very good to you.

Re: WaMu Pre Approved Offer

Anonymous — Fri, 07 Dec 2007 21:18:55 GMT

I got that pre-approval offer and got denied. Apparently they liked my number but not the details behind it.

Re: WaMu Pre Approved Offer

Anonymous — Fri, 07 Dec 2007 21:24:56 GMT

WAMU pulled TU for me.

Re: WaMu Pre Approved Offer

ccaddict — Sat, 08 Dec 2007 02:27:18 GMT

I'm in CA and waamu pulled TU for me.

Got denied though.

Good luck!

Re: WaMu Pre Approved Offer

Anonymous — Sat, 08 Dec 2007 13:56:39 GMT

Update:

I was approved with a 1500 credit limit. That is now my highest non credit union CL. I'm pretty psyched.

WBLAKE

Re: WaMu Pre Approved Offer

Anonymous — Sat, 08 Dec 2007 14:26:13 GMT

I really like my WAMU card and used it alot this past month. It has a credit limit of 1000 dollars right now and like the fact that paying them is very easy online and where I live (many branches). I remember when I received my pre-approved offer in the mail and they stated that they gave out CL up to 7500 dollars on the card. Well, at least I know how high the CL can be on the card. I don't like the fact that the credit protection is so high (approx $7.50 per month) even though it is necessary. I guess that is their way of compesating for the fact the card has no annual fee. It doesnt matter, I am keeping the card.

Re: WaMu Pre Approved Offer

Anonymous — Sat, 08 Dec 2007 15:43:18 GMT

Credit Protection necessary? Somebody help!!!!!

Re: WaMu Pre Approved Offer

Anonymous — Sat, 08 Dec 2007 15:44:06 GMT

WBLAKE wrote:

Update:

I was approved with a 1500 credit limit. That is now my highest non credit union CL. I'm pretty psyched.

WBLAKE

Congrats WB,,,,,be good to them and wait!!

Re: WaMu Pre Approved Offer

Anonymous — Sat, 08 Dec 2007 16:17:14 GMT

Should I not have credit protection, Brammy?? Is that not prudent given many our prior experiences and the fact that emergencies can and do occur??

Re: WaMu Pre Approved Offer

Anonymous — Sat, 08 Dec 2007 16:19:54 GMT

I will have to agree-
Very few people need to have this-

@Anonymous wrote:
Credit Protection necessary? Somebody help!!!!!

Re: WaMu Pre Approved Offer

Anonymous — Sat, 08 Dec 2007 16:22:23 GMT

Can someone give me an explanation as to why I might not need this? I am still learning about all of this and will for sometime to come.

Re: WaMu Pre Approved Offer

Anonymous — Sat, 08 Dec 2007 16:23:45 GMT

landocalrissian wrote:

Should I not have credit protection, Brammy?? Is that not prudent given many our prior experiences and the fact that emergencies can and do occur??

JMHO....

For emergencies a person should have a cash savings set aside. Infrequent events is another thing. The only problem I have with credit protection insurance is that it has proved difficult to collect on. Many horror stories about people being told their credit protection was in force only to find 30-60-90+ day lates reporting to their bureaus.

Now, if you find yourself needing to live off credit cards and you don't have enough reserve to at least make the min payments, then you have an issue. Credit protection used to make you min payments but nowit just suspends your obligation to pay.

In my case, being self employed, except in the case of death, it would most likely be impossible to cash in on that benefit. Put your 7.50 a month in a savings account per hundred. In case of emergency, use it for your min payment since that is more than the min payment on 100.00 in any and all cases. If the emergency doesn't arise, you hv pary fund.

Re: WaMu Pre Approved Offer

Anonymous — Sat, 08 Dec 2007 16:26:23 GMT

Who needs Credit Insurance?

Anyone currently working in the Real Estate or mortgage business

People that can not get life insurance (maybe)

People that may get laid-off (or anticipating it)

If you PIF- you don'y need it
If you know how to save (emergency accts and regular saving) you don't need it.

@Anonymous wrote:
Should I not have credit protection, Brammy?? Is that not prudent given many our prior experiences and the fact that emergencies can and do occur??