topic Re: WAMU Platinum Pre-Approval Question in Credit Cards

WAMU Platinum Pre-Approval Question

BRH3 — Thu, 27 Mar 2008 00:19:23 GMT

I just received a WAMU Platinum Pre-Approval for the first time. Yeah! The offer is for 0% on new purchases thru Jan.2009 and then 9.9% after. Also 9.9% on balance transfers requested within 30 days. Does this mean I am good to go if I accept/apply? Should I transfer the $250 dollars I have on 2 other cards with a higher rate? Would that help or hurt my case for WAMU to give me a higher CL? Thanks everyone.

Re: WAMU Platinum Pre-Approval Question

BRH3 — Thu, 27 Mar 2008 00:42:19 GMT

Also, how is WAMU with initial Cl's and future CL's?

Re: WAMU Platinum Pre-Approval Question

Anonymous — Thu, 27 Mar 2008 00:50:59 GMT

I personally don't have any experience with WAMU but some of the folks here are pretty loyal to them.

If I recall correctly WAMU will give you a CLI at 6 months with responsible account history, or will rate jack you to 31.9 percent and CLD every time you make a payment if you leave it maxed out for prolonged periods of time.

Re: WAMU Platinum Pre-Approval Question

BRH3 — Thu, 27 Mar 2008 01:29:29 GMT

Anyone? I see alot about Wamu on this board. Can anyone help with my question? Thanks!

Re: WAMU Platinum Pre-Approval Question

Anonymous — Thu, 27 Mar 2008 03:46:32 GMT

BRH3 wrote:

Anyone? I see alot about Wamu on this board. Can anyone help with my question? Thanks!

I don't have a WaMu card, but DF does, and I am AU on her card (and actually manage the account because I manage all the HH finances).

If you apply, expect a hard pull and even possible denial. A preapproval does not mean you are "approved before you apply." It means, in a sense, that you have been approved to apply (if that makes any sense). Your chances of approval with a preapproved offer are better than if you were apping cold, but it's not a guarantee.

They are good with initial CLs. The 6 month CLI is also not guaranteed, but they do review every 6 months to see if you are eligible for CLI. DF got $9K on her initial app with scores in the 760s, but she did not get a CLI after 6 months. (She did get 18 months @ 0% when she was approved, though, so we're not complaining.)

The 9.9% fixed rate is the best rate they offer, so the preapproval you received is a good one. I have received preapprovals from them for about twice a week for a few months now. The offers started around 12% variable with a CL up to $7500. Now they routinely send me offers for 9.9% fixed with CL up to $30K.

Their customer service is awful. The PFICO score that comes with the card is a cool little feature. They use two-cycle billing.

Having an existing checking and/or savings account will not help you get a CC wit them if you don't otherwise qualify for one. The left hand at this company (banking branch) often doesn't know with the right hand (CC branch) is doing.

The WaMu Platinum MC and Visa are not rewards cards. WaMu does have rewards versions of these cards, but they will only extend the invitation to receive them after you have had the non-rewards version for a while.

Let's see.....I think that's about all I can think of right now.

Message Edited by cheddar on 03-26-2008 11:46 PM

Re: WAMU Platinum Pre-Approval Question

Anonymous — Thu, 27 Mar 2008 03:48:57 GMT

well if you ever had a providian account that wenr sour, odds are it's going to be an instant decline. most report a tu pull, but pulled ex on me.

Re: WAMU Platinum Pre-Approval Question

ccaddict — Thu, 27 Mar 2008 05:56:57 GMT

I recieved 2 offers every week for almost 2 months now and finally took the bait yesterday. I was to wait a couple more moths actually but my scores weren't moving in either direction.. so I thought why not.

No instant approval. Got a call from them today, asking specific questions about my application. The person on the other end didn't seem too enthused that I was a grad student with a part-time job that earned peanuts and told I will get "something" from them in 7-10 days.

Sounded like a no, but we'll see.

Re: WAMU Platinum Pre-Approval Question

Anonymous — Thu, 27 Mar 2008 07:12:19 GMT

i have gotten 2 clis in the past year. my rate is 12.49. got 0% for a year. I've never had reason for customer service yet so dont know but they have treated me fine for 4 years now. started out with providian.

Re: WAMU Platinum Pre-Approval Question

BRH3 — Thu, 27 Mar 2008 14:04:11 GMT

Thanks for your help. I am not a former Providian customer. No history with them good or bad. My TU is 649 and income is fairly good. Hopefully, I got it but not sure. Got the 2-4 week message.

Re: WAMU Platinum Pre-Approval Question

happy0510 — Thu, 27 Mar 2008 15:01:10 GMT

I got the exact same offer.....I dnt knw what my TU is but my EQ is 631...my TU's were always bigger in the past...I do have one big baddie though....so i'm not sure if I wanna go for it...I just got denied for a Mervyn's...have 1 open Secured CC 6 mos with Orchard

Re: WAMU Platinum Pre-Approval Question

Anonymous — Thu, 27 Mar 2008 15:12:35 GMT

@Anonymous wrote:

@BRH3 wrote:
Anyone? I see alot about Wamu on this board. Can anyone help with my question? Thanks!

I don't have a WaMu card, but DF does, and I am AU on her card (and actually manage the account because I manage all the HH finances).
If you apply, expect a hard pull and even possible denial. A preapproval does not mean you are "approved before you apply." It means, in a sense, that you have been approved to apply (if that makes any sense). Your chances of approval with a preapproved offer are better than if you were apping cold, but it's not a guarantee.
They are good with initial CLs. The 6 month CLI is also not guaranteed, but they do review@ every 6 months to see if you are eligible for CLI. DF got $9K on her initial app with scores in the 760s, but she did not get a CLI after 6 months. (She did get 18 months @ 0% when she was approved, though, so we're not complaining.)
The 9.9% fixed rate is the best rate they offer, so the preapproval you received is a good one. I have received preapprovals from them for about twice a week for a few months now. The offers started around 12% variable with a CL up to $7500. Now they routinely send me offers for 9.9% fixed with CL up to $30K.
Their customer service is awful. The PFICO score that comes with the card is a cool little feature. They use two-cycle billing.
Having an existing checking and/or savings account will not help you get a CC wit them if you don't otherwise qualify for one. The left hand at this company (banking branch) often doesn't know with the right hand (CC branch) is doing.
The WaMu Platinum MC and Visa are not rewards cards. WaMu does have rewards versions of these cards, but they will only extend the invitation to receive them after you have had the non-rewards version for a while.
Let's see.....I think that's about all I can think of right now.

Message Edited by cheddar on 03-26-2008 11:46 PM

This is a very thorough synopsis of how WAMU gets down. Thanks Cheddar.

Re: WAMU Platinum Pre-Approval Question

BRH3 — Fri, 28 Mar 2008 02:04:01 GMT

Wow! Called today to check on my Wamu app from last night after I got the 2-4 week message. The customer service lady asked to verify some personal information and then finished my app. She says congrats you are APPROVED! I say great, can I ask what my initial CL is? I almost passed out when she said $8500. My highest regular card was Hotters @ $1000 and a store card (Kay's @ $5000). Wamu stepped up big time!

Re: WAMU Platinum Pre-Approval Question

Anonymous — Fri, 28 Mar 2008 02:06:23 GMT

BRH3 wrote:

Wow! Called today to check on my Wamu app from last night after I got the 2-4 week message. The customer service lady asked to verify some personal information and then finished my app. She says congrats you are APPROVED! I say great, can I ask what my initial CL is? I almost passed out when she said $8500. My highest regular card was Hotters @ $1000 and a store card (Kay's @ $5000). Wamu stepped up big time!

Congrats!

The last thing I need is to see a post like this, though. It's all I can do to avoid apping every time one of those Wamu preapprovals arrives in my mailbox every three days or so.

This news doesn't help.

Happy for you, though.

Re: WAMU Platinum Pre-Approval Question

Anonymous — Fri, 28 Mar 2008 02:11:44 GMT

Wow! Super congrats BRH! Fantastic opening cl.

It should be moved to the top of your list.

I too responded to a pre-approval like that last October. A visa with 9.99% APR. Was approved for $6,500. My highest cl ever on a card at that time.

A word of caution though: NEVER go near your credit limit, ALWAYS pay well before the due date. That card will serve you well for years.

Re: WAMU Platinum Pre-Approval Question

Anonymous — Fri, 28 Mar 2008 02:51:18 GMT

cheddar wrote:

BRH3 wrote:
Wow! Called today to check on my Wamu app from last night after I got the 2-4 week message. The customer service lady asked to verify some personal information and then finished my app. She says congrats you are APPROVED! I say great, can I ask what my initial CL is? I almost passed out when she said $8500. My highest regular card was Hotters @ $1000 and a store card (Kay's @ $5000). Wamu stepped up big time!

Congrats!

The last thing I need is to see a post like this, though. It's all I can do to avoid apping every time one of those Wamu preapprovals arrives in my mailbox every three days or so.

This news doesn't help.

Happy for you, though.

Cheddar -- AHEM!

Re: WAMU Platinum Pre-Approval Question

Anonymous — Fri, 28 Mar 2008 03:12:11 GMT

WhirledPeasPlease wrote:

Cheddar -- AHEM!

Yes, Miss Peas.

(Sitting on hands.)

Re: WAMU Platinum Pre-Approval Question

Anonymous — Fri, 28 Mar 2008 03:16:07 GMT

cheddar wrote:

WhirledPeasPlease wrote:

Cheddar -- AHEM!

Yes, Miss Peas.

(Sitting on hands.)

Peas is Pleased.

Re: WAMU Platinum Pre-Approval Question

Anonymous — Fri, 28 Mar 2008 03:21:03 GMT

Peas, I think you should go for it. If you've received more than one, they are courting you. I personally think you stand a very good chance of getting it.

Re: WAMU Platinum Pre-Approval Question

Anonymous — Fri, 28 Mar 2008 03:30:56 GMT

Sylviatob wrote:
Peas, I think you should go for it. If you've received more than one, they are courting you. I personally think you stand a very good chance of getting it.

No no no no no no! No more apps until AFTER the mortgage! That's why I'm living off of the vicarious apps on here!

It's funny, I don't REALLY want WAMU, I would just like to prove I could get it AND get the PFICO. I don't want another non-rewards CC. My largest CC TL (HSBC/UPC) does not have rewards (not my version at least), I don't really consider the 10% coupon at Target a reward, either. I don't want to touch my Amex and I had a hard time getting miles @ 1k anyway. My Cap1 is no-rewards, too. LOL -- Life's too short to have silly cards!

This is the first WAMU I've rec'd after opting back in. I app'd in July 06 (denied) and July 07 (denied) -- both with pre-apps in the mail. I'm getting called up, but I'm not getting any at bats!

Re: WAMU Platinum Pre-Approval Question

Anonymous — Fri, 28 Mar 2008 03:35:26 GMT

Chosen wisely you have, young Skywalker. May the force be with you.

I'm glad you said what you said then.