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.
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.
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 03-26-200811:46 PM
---------------------------- App free since 7/11/08. TU 744 / EX 710 / EQ 694 (Starting to slip. )
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.
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.
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
Starting Score: 615 Current Score: 709 Goal Score: 750