topic Re: WaMu I could use input on this CC in Credit Cards

WaMu I could use input on this CC

Anonymous — Fri, 20 Jul 2007 21:50:04 GMT

I received invatation for new account.0% apr till 8/2008. I know nothing about this bank.I would like info. from anyone that has delt with them. anyone know who they pull or what scores they like?

Message Edited by HappyDays on 07-20-2007 02:19 PM

Message Edited by HappyDays on 07-20-2007 02:50 PM

Re: WaMu I could use input on this CC

Anonymous — Fri, 20 Jul 2007 21:59:59 GMT

I used to have them... They're great, but for some reason, they said that after my intro rate is over, it's going to the default rate which they said I agreed upon during my app process. I probably did since I didn't read it... at 28% or somewhere along that line. paid that **bleep** off and canceled it. lol.

Re: WaMu I could use input on this CC

Anonymous — Fri, 20 Jul 2007 22:36:25 GMT

any idea who they pulled or what you score was? Im not worried about default says 9.99 - 23.99 after intro. I figure that I can pay down faster with no int.

Thank you

Re: WaMu I could use input on this CC

Anonymous — Sat, 21 Jul 2007 00:26:05 GMT

I just got a WaMu card...don't know what the interest rate is and don't care, since I'm only going to be carrying single to low double-digit balances anyway.

That is the next to the last CC I'll be applying for this year. Sometime this autumn I'm going to go for Hooters, just as a conversation piece.

Re: WaMu I could use input on this CC

Anonymous — Sat, 21 Jul 2007 02:00:44 GMT

@Anonymous wrote:
I received invatation for new account.0% apr till 8/2008. I know nothing about this bank.I would like info. from anyone that has delt with them. anyone know who they pull or what scores they like?

Do you know the name of the specific card? WaMu Platinum Visa? WaMu MasterCard?

They pulled Experian for me (N. California). They pull TU about 85% of the time, mostly EX for others - it depends on your location. For the Platimum Visa, I think they look for 640+ and your CL will probably depend on your score. You might want to check some of the credit pull databases such as whogavemecredit.com.

Re: WaMu I could use input on this CC

Anonymous — Sat, 21 Jul 2007 03:17:13 GMT

Thank you very much. I will check out that site.

Im in Ct. so will see who they pull. My scores are about 650 & above. I might try tonight.

Re: WaMu I could use input on this CC

Anonymous — Sat, 21 Jul 2007 15:00:45 GMT

I have had WaMu for approx. a 18 months. I do know they have been great with me as every six month, they increase my CL $1500.00. My FICO score has steadily increased so that I am very close to approaching the 700 (EX)!!

Re: WaMu I could use input on this CC

Anonymous — Sat, 21 Jul 2007 15:24:53 GMT

My credit scores are high. They turn me down every time. The CLI dept told me it had to do with balances. They like to see very very very little to no cc debt when you apply. Your credit score and income will not help you if debt is too high for Wamu's scale. As a rule, pay off cc debt before applying for credit cards.

I want it for the free PFICO scores. I am applying again next month after debt is paid off. I have always carried debt for my business. Never knew it was hurting me so much with clean credit. Wamu doesn't go by UTL either. They go by UTL or debt which ever is higher for their scale. If you apply with low or 0$ balances your chances go way up for getting the card from WAMU.

They are mid prime, low for prime, high for subprime. They have lots of bank branches all over. Interest rates can be higher than comp.

Re: WaMu I could use input on this CC

Anonymous — Sat, 21 Jul 2007 18:40:11 GMT

Maybe I will wait till next month lmao. right now my utl is reaching for the sky. Im hoping to pay more down soon.

Thank you very much for the heads up!

Re: WaMu I could use input on this CC

Anonymous — Sun, 22 Jul 2007 01:41:55 GMT

@Anonymous wrote:
My credit scores are high. They turn me down every time. The CLI dept told me it had to do with balances. They like to see very very very little to no cc debt when you apply. Your credit score and income will not help you if debt is too high for Wamu's scale. As a rule, pay off cc debt before applying for credit cards.

I think the CSR might have been lying to you (or guessing or just didn't really know), and that the real reason for the decline was the number of inquiries (I think you said you had 12). At the time I applied last month, my utilization was around 30%, but my number of inquiries was 0, and I got an instant approval for 30K. DW applied a month earlier, with about 20% utilization and 4 inquiries. She was also approved, but for a lower CL.

So I wouldn't say everyone needs to have all $0 balances before they apply. It definitely seems to be a YMMV situation.

Message Edited by Revike on 07-21-2007 06:41 PM

Re: WaMu I could use input on this CC

Anonymous — Sat, 21 Jul 2007 22:38:02 GMT

WAMU was the first CC we ever gat that came with a CL higher than $1k... Good start to a great future. We recently shredded it though. No more using it, just reaping the rewards of the open TL with perfect payment Hx.

Rob

Re: WaMu I could use input on this CC

sar1961 — Mon, 23 Jul 2007 00:51:13 GMT

I just got declined online for a WAMU, probably because of inq. I have several on there so I think I better quit letting my fingers wander around on my keyboard. But, I did apply for the CCCU on 07/13, they say they are behind and mine had just gone to a loan officer on Friday, so I am hopeful on that one. I did get the Hooter's (CL-??). I have some CC I would like to close but I want my total CL up first.

Re: WaMu I could use input on this CC

Anonymous — Mon, 23 Jul 2007 03:51:48 GMT

im only guessing but I think my utl is about 60% so i will wait. not many ings so I don't want to blow it.

Re: WaMu I could use input on this CC

Anonymous — Mon, 23 Jul 2007 04:55:25 GMT

CLI dept over the phone at Wamu told me they decline for UTL over 25-30%. I have been declined for years by them. My UTL is always high. My credit was perfect/clean when I applied, still always denied by Wamu. I never knew high UTL was looked at as a big giant negative. I tell everyone now to pay off UTL below 10% even better if down to 0% before applying for anything. The only company for me that didn't mind my high UTL was Advanta.

Re: WaMu I could use input on this CC

Anonymous — Mon, 23 Jul 2007 05:17:09 GMT

@Anonymous wrote:
CLI dept over the phone at Wamu told me they decline for UTL over 25-30%. I have been declined for years by them. My UTL is always high. My credit was perfect/clean when I applied, still always denied by Wamu. I never knew high UTL was looked at as a big giant negative. I tell everyone now to pay off UTL below 10% even better if down to 0% before applying for anything. The only company for me that didn't mind my high UTL was Advanta.

Well, like I said, I think they lied to you. They approved me for maximum CL, and my utilization was more than 30% at the time I applied. Didn't you have a large number of inquiries the last time you applied? Was that also the case for previous applications? And how could you be declined for years - WaMu has only offered CCs for a relatively short time.

I really enjoy your detailed research and agree with most of your conclusions about what actions affect FICO scores, but I think you're wrong about WaMu this time. I believe they weigh a combination of factors (score, utilization, negatives, etc.), and the number of inquiries is one of the more important factors.

Re: WaMu I could use input on this CC

Anonymous — Mon, 23 Jul 2007 07:57:08 GMT

I just received my Wamu plat mc, they pulled TU (647) for me. My utl is very low.

Message Edited by Lori344 on 07-23-2007 12:57 AM

Re: WaMu I could use input on this CC

Anonymous — Mon, 23 Jul 2007 17:26:57 GMT

@Anonymous wrote:
@Anonymous wrote:
CLI dept over the phone at Wamu told me they decline for UTL over 25-30%. I have been declined for years by them. My UTL is always high. My credit was perfect/clean when I applied, still always denied by Wamu. I never knew high UTL was looked at as a big giant negative. I tell everyone now to pay off UTL below 10% even better if down to 0% before applying for anything. The only company for me that didn't mind my high UTL was Advanta.

Well, like I said, I think they lied to you. They approved me for maximum CL, and my utilization was more than 30% at the time I applied. Didn't you have a large number of inquiries the last time you applied? Was that also the case for previous applications? And how could you be declined for years - WaMu has only offered CCs for a relatively short time.

I really enjoy your detailed research and agree with most of your conclusions about what actions affect FICO scores, but I think you're wrong about WaMu this time. I believe they weigh a combination of factors (score, utilization, negatives, etc.), and the number of inquiries is one of the more important factors.

Recently there were many inq with apps, older apps had fewer to no Inqs. Still declined. Before that Providian always declined me too. Score were about 720-760 with decline. High UTL always.

You could be right, the person at Wamu might have lied or did not know correct info. Wamu/Providian would never approve me. When I challenged the real reason I am repeated denied from a person in a CLI dept recently I was told it was because of UTL, 25-30 ect.... Just passing that along as well as where I heard it. I am just relaying info from a person at Wamu.

Re: WaMu I could use input on this CC

Anonymous — Mon, 23 Jul 2007 19:18:49 GMT

@Anonymous wrote:
Recently there were many inq with apps, older apps had fewer to no Inqs. Still declined. Before that Providian always declined me too. Score were about 720-760 with decline. High UTL always. You could be right, the person at Wamu might have lied or did not know correct info. Wamu/Providian would never approve me. When I challenged the real reason I am repeated denied from a person in a CLI dept recently I was told it was because of UTL, 25-30 ect.... Just passing that along as well as where I heard it. I am just relaying info from a person at Wamu.

Hmmm, weird. Might be harsh to say the CSR lied, probably more likely they didn't know the complete reason and were throwing excuses around to see what would stick. DW and I have similar scores to you, so it's hard to find any other cause that could explain the different result. Oh well, another CC puzzler.

One thing ... Since WaMu now offers some cards with decent features, I sure hope they dumped as much of the leftover Providian guidelines and other cr*p as possible, and installed their own approval criteria, policies, and management. If so, maybe a lower number of inquiries will get approval at a later date, instead of what you encountered with Providian.

Message Edited by Revike on 07-23-2007 12:18 PM

Re: WaMu I could use input on this CC

smallfry — Mon, 23 Jul 2007 20:48:35 GMT

WaMu like Juniper/Barclays is very strange. I've heard of people with scores in the high 700's getting declined or getting very low limits like 1-2K while some others with scores in the low 600's getting limits well over 5K. No rhyme or reason to those two companies at all in their approval process. I've had the WaMu card for over two months and have yet to get an updated PFICO score. With a 2K credit line it doesn't even help with utilization. On top of that a hard inquiry. Not happy. Looking for the free score.

Re: WaMu I could use input on this CC

Anonymous — Mon, 23 Jul 2007 21:59:30 GMT

I've had a WAMU mastercard since 9/06. I have absolutely no clue what my scores were when I got it...as I hadn't yet found this site...but I can tell you it was 630'ish on May 31...When they gave me the card, I got a $2500 limit. Last month, after nine months, they raised my limit to $5,000. They have been very easy to deal with...pay online...pfico scores...no problems...