WAMU...Applying Online

[Anonymous]

Take advantage of a 1.99% rate on balance transfers until March, 2009! For any balances you decide to transfer today, you'll receive a low introductory rate of 1.99% until your March, 2009 statement date. After that, your balance transfers will be at a variable rate of Prime + 18.99%. Using the Prime Rate in effect for billing cycles beginning in July, 2008 as an estimate, this APR would be 23.99%.

[timber]

Yep... I have received the exact same BT offer from Wamu numerous times since I opened my Platinum Visa last September from a pre-approved offer of 0% til Jan 2009, then 9.99% thereafter. This is the typical bait-and-switch you need to lookout for.

To me, Wamu is really not that excited that I'm not using my card until my 0% is paid off. So, they realize that I now have a large amount of available credit on my account that they would like me to make use of with this ridiculous offer of 1.99% for 6 months then 23.99% thereafter. No way!

That is why we need to carefully read the terms of any BT offer. But, when you first open the account the pre-app BT offer and welcome kit is much different than the later offers you have referred to.

[Anonymous]

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timber wrote:
Yep... I have received the exact same BT offer from Wamu numerous times since I opened my Platinum Visa last September from a pre-approved offer of 0% til Jan 2009, then 9.99% thereafter. This is the typical bait-and-switch you need to lookout for.

To me, Wamu is really not that excited that I'm not using my card until my 0% is paid off. So, they realize that I now have a large amount of available credit on my account that they would like me to make use of with this ridiculous offer of 1.99% for 6 months then 23.99% thereafter. No way!

That is why we need to carefully read the terms of any BT offer. But, when you first open the account the pre-app BT offer and welcome kit is much different than the later offers you have referred to.

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They have too many offers at once!  1.99% for so many months, then the next month they send you more offers for months in advance and before you know it, they have Custom A, Custom B, Cash Advance rates listed in their account summary for each of these transfers. 

My rate would have gone to 19.99% next month (August, 2008) if I hadn't read and inquired of their CS Dept as to what were they doing!  The CS Rep told me if I applied for balance transfers online then those would be handled correctly, but those balance transfers that came in the mail would go against my cash advance rate.   I noticed that my cash advance rate was getting smaller and smaller whenever I used the balance transfers.  

Anyway to make a longer story shorter (lol), I did something that will probably hurt my FICO score for a few months to get rid of these people.   I utilized 85% of my credit line to pay off WAMU this month and 70% of another card to pay them off as well.   My score is important true, but 19.99%,is ridiculous!  

[NICKI183]

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casinoannie97 wrote:

FUSED--they are BK friendly. AMEX and BOFA are not.  They are life savers for some people so why knock it if you haven't been there.

I started out with 700 now 8500 w/BK.  Their cs treats me just fine.

Message Edited by casinoannie97 on 07-16-2008 02:36 AM

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Casino- you say that they are BK friendly- was Wamu or should I say Providian one of the creditors you put on your BK?

[Math_Rocks]

timber, my cards finally came in and there were no checks.

I think they are forcing people to do BT over the phone. (I don't even have the option OL.)

[timber]

Cards and "Welcome Kit" are separate mailings. You indicated before that you were approved for the Wamu Platinum Mastercard... was this a pre-approval with BT offer? Mine was a pre-app for a Platinum Visa with 0% BT for 16 months, so I'm not sure if the process for their mastercard product is exactly the same.

Does anyone else have any info to share?

[Math_Rocks]

Then the welcome "kit" is what I got on Monday. It outlined the CL, rate and 0% purchases and BT through Jan 2009. (BT have to be first 30 days.) But no checks.