@Anonymous wrote:
Thanks for the replies! To haulingthescoreup ... ironically I just got a credit card application in the mail yesterday from WAMU (Washington Mutual). Now, it's not a pre-approval ... and I'm not going to apply until I've got my husband to take me off of the one AU that's at high utilization right now, and my scores update (also with my Orchard Bank reporting at $0), but once my scores are back up ... would this be a good card to apply for? Is it considered subprime?
Also, I'm just curious ... WHY did I suddenly get this in the mail 3 days after my Ch. 13 discharge. Do these CC companies buy lists of people with new discharges (figuring they won't default because they can't refile for awhile)? I haven't gotten a credit card appl in the mail in years ...
Also I've "opted out" on my CRAs, so I thought I wouldn't get these things anyways?
Your thoughts? Thanks again!
Opting out only prevents contact by companies that you're not already with. Are you AU on a WaMu card? Otherwise, opting-out stops most stuff, but some occasionally sneak through.
We've had an awful lot of members here get burned on WaMu pre-approvals. The way that these mailers work is that they buy lists (as you mentioned) of consumers who fit certain basic criteria. Some companies like WaMu use very broad guidelines, so many who bite on the pre-approvals get shot down. WaMu is sort of quivering on the edge of prime-ness, IMO. Many people have them and love them, but sometimes they seem a bit squirrelly. So, at least in my eyes, they're neither prime nor sub-prime. They are starting to offer better cards recently, so they might be trying to shine up their image.
Again, I'd check out local credit unions. CU's aren't in it for the money, and they are generally happy to work with those who are genuinely working on getting their credit lives back. I will keep some of my bank cards, but my real money is with my CU cards!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007