topic Re: WAMU PRE APPROVAL QUESTIONS in General Credit Topics

WAMU PRE APPROVAL QUESTIONS

Anonymous — Thu, 26 Apr 2007 02:59:02 GMT

I just got two more pre approval offers from wamu today and would like some advice.

One was a generic offer with 0% balance transfer until June 1 2008 and one was a ESPN total access visa card with 0% balance transfer until March 2008. I have been getting various versions of these offers for about the last month and they are wearing me down. A while ago, before I started learning about credit, I foolishly closed my BofA credit card with a $11,700 limit and still had a balance on it. I have not missed any payments on it within the last couple years and recently paid $4500 on the balance, which leaves me with about $2100 remaining. I would like to apply for one or both of these offers but am concerned that I may not get approved. My scores range from 602,608,637. I also would like to reactivate my BofA card but think that may be a bit harder to do. By the way, BofA is still reporting my payments monthly even though the account was closed and they still show a credit limit of $11,700 so I think my large payment should drop my utilization % alot. My question is, should I wait until my payment posts, and hopefully improves my score, to CRA and then apply and/or reopen my BofA?

Also, does anyone have a wamu card and use their Free credit score access? If this is from myfico it would be a nice benefit.

Thanks for any help

Re: WAMU PRE APPROVAL QUESTIONS

Anonymous — Thu, 26 Apr 2007 11:16:06 GMT

I got an ESPN pre-approval from WaMu yesterday and although I'm not a big sports fan, I figured if I got a pre-approval, then I had a good shot. My scores are mid-600's. I applied and it was a no-go. However, I don't have any existing revolving credit, only installment loans. I think that is playing a huge part in my inability to get a line of revolving credit because I've seen on these credit pull sites that people with scores far lower than mine are getting approved for cards with sometimes high CL's. Since you already have CC history, even with your scores being lower than mine, you may be more likely to get approved. Check out this site http://creditboards.com/forums/index.php?autocom=creditpulls and search for WaMu and see if you can find someone who's applied with scores similar to yours. Try this one as well - http://www.whogavemecredit.com/.

Do a little research before you apply or else you may just end up with only a ding on your credit report.

Re: WAMU PRE APPROVAL QUESTIONS

Tuscani — Thu, 26 Apr 2007 11:16:21 GMT

HEPS wrote:
I just got two more pre approval offers from wamu today and would like some advice.
One was a generic offer with 0% balance transfer until June 1 2008 and one was a ESPN total access visa card with 0% balance transfer until March 2008. I have been getting various versions of these offers for about the last month and they are wearing me down. A while ago, before I started learning about credit, I foolishly closed my BofA credit card with a $11,700 limit and still had a balance on it. I have not missed any payments on it within the last couple years and recently paid $4500 on the balance, which leaves me with about $2100 remaining. I would like to apply for one or both of these offers but am concerned that I may not get approved. My scores range from 602,608,637. I also would like to reactivate my BofA card but think that may be a bit harder to do. By the way, BofA is still reporting my payments monthly even though the account was closed and they still show a credit limit of $11,700 so I think my large payment should drop my utilization % alot. My question is, should I wait until my payment posts, and hopefully improves my score, to CRA and then apply and/or reopen my BofA?

Also, does anyone have a wamu card and use their Free credit score access? If this is from myfico it would be a nice benefit.

Thanks for any help

Call BofA and see if they will reopen the account. Some creditors will depending on your history with them and how long it has been closed. Are the scores you posted from myfico.com? The scores you are getting from WAMU are not your FICOs. And definately wait for that util to drop before doing anything.

Re: WAMU PRE APPROVAL QUESTIONS

Anonymous — Thu, 26 Apr 2007 12:58:39 GMT

Thanks for your input. It is very helpful

Re: WAMU PRE APPROVAL QUESTIONS

Anonymous — Thu, 26 Apr 2007 13:09:22 GMT

Yes these scores are from myfico.

If I call BofA and try to reopen will they repull my credit just like if I apply for one of WAMU offers?

I called before and asked two different account reps about when they post to CRA and they told me two different answers. I figured if I waited until they update with them it would increase my score which in addition to making that $4500 payment, would make them very interested in reopening my account. I have a checking and savings account with them and really like their online banking feature.

Thanks again

Re: WAMU PRE APPROVAL QUESTIONS

Anonymous — Thu, 26 Apr 2007 17:07:07 GMT

True, I think Wamu likes to see other revolving cc, before they approve you. 626/636/674 are my scores and i was approved with a cl of 750.

Re: WAMU PRE APPROVAL QUESTIONS

Anonymous — Thu, 26 Apr 2007 19:00:25 GMT

I have wamu CC with 750 cl, my scores were a little bit lower than yours when i got it. they do not use myfico for there free credit score access, its TU so its fako score.

Re: WAMU PRE APPROVAL QUESTIONS

Anonymous — Thu, 26 Apr 2007 22:27:05 GMT

Thanks very much for your help

Re: WAMU PRE APPROVAL QUESTIONS

Anonymous — Fri, 27 Apr 2007 12:36:11 GMT

WaMu is tightening its standards and getting a little stricter on their approval guidelines. I'm not sure what the score required now is. I got in almost a year ago with a lower score and a 1k limit with no open revolving accounts but since that time they have definitely tightened up. Selling off some the lower scoring accounts. That's what has me on edge about TU not updating. It looks as if my scores haven't improved for months.

It was a big todo on MSN about how WaMu was moving from the subprime portfolio purchased from Providian to a near prime status.

But of course, I've been saying that for months

Message Edited by Brammy on 04-27-2007 08:36 AM

Re: WAMU PRE APPROVAL QUESTIONS

Anonymous — Fri, 27 Apr 2007 22:06:43 GMT

Thanks Brammy

I think I will wait before trying to open.

My Equifax just went up to 619 and my large payment that I made to BofA has not even posted yet. How much, in your opinion, will my score increase with me paying my card down from $6600 to $2100 with $11,700 limit. Just curious.

Thanks again