"WAMU - UPDATE!"
WaMu Platinum MasterCard® Review
Written by: louise on 2008-04-07
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
louise's review: 
WAMU has just received 5 Billion from the private equity firm TPG thus a takeover from Chase is highly unlikely. So soothsayers like Porgy who were adamant about Chase taking over WAMU and closing all sub-prime customers accounts need to clean their crystal balls. Moreover, shares of WAMU increased by 10.6% to 11.25 after plummenting 70% 6 months ago. This is an indication that WAMU can rebound from its current financial crisis and keep customers who are also rebuilding too.
WAMU has just received 5 Billion from the private equity firm TPG thus a takeover from Chase is highly unlikely. So soothsayers like Porgy who were adamant about Chase taking over WAMU and closing all sub-prime customers accounts need to clean their crystal balls. Moreover, shares of WAMU increased by 10.6% to 11.25 after plummenting 70% 6 months ago. This is an indication that WAMU can rebound from its current financial crisis and keep customers who are also rebuilding too.
11 Comments
Comment 1 by hjm331
That's Great News 
on 2008-04-07
My mom received a pre approval credit card offer from them that offered her no interest until October 2009. When I saw it, my jaw dropped and got upset because I wanted the same offer lol
on 2008-04-07 My mom received a pre approval credit card offer from them that offered her no interest until October 2009. When I saw it, my jaw dropped and got upset because I wanted the same offer lol
Comment 2 by jeremy
Ok To Submit The Preapproval? on 2008-04-07
Well definitely some good news!
i have been ignoring the pre approved mail for quite some time now since this chase takeover rumor
on 2008-04-07 Well definitely some good news!i have been ignoring the pre approved mail for quite some time now since this chase takeover rumor
Comment 3 by lyyssa01
I'm Surprised... on 2008-04-07
Wamu was my first bank, back in the day when it was a rinky dinky teeny tiny north western bank. In fact, that's what the commercials prided itself on. Now it's trying to wrestle it's way in with the big boys. Oh, how times change...
I also got the preapproval in the mail for no interest for over a year and a cl of $3000, or something like that. It was written that on the average people are approved for $2000. Funny thing is I JUST canceled my Wamu in Feb, and I just received the offer last week.
on 2008-04-07 Wamu was my first bank, back in the day when it was a rinky dinky teeny tiny north western bank. In fact, that's what the commercials prided itself on. Now it's trying to wrestle it's way in with the big boys. Oh, how times change...I also got the preapproval in the mail for no interest for over a year and a cl of $3000, or something like that. It was written that on the average people are approved for $2000. Funny thing is I JUST canceled my Wamu in Feb, and I just received the offer last week.
Comment 4 by hjm331
RE: Lyyssa on 2008-04-07
The WAMU card that you closed, was it your oldest credit card?!
on 2008-04-07 The WAMU card that you closed, was it your oldest credit card?!
Comment 5 by lyyssa01
Yes... on 2008-04-07
It sure was. :(
I was still in the mentality of only keeping two cards at any given time, and it's probably what hurt my score the most.
on 2008-04-07 It sure was. :(I was still in the mentality of only keeping two cards at any given time, and it's probably what hurt my score the most.
Comment 6 by crazy2k5
RE: on 2008-04-07
If that was your oldest account maybe you should have put it up and not used it. If I am not mistaken you have a certain amount of time after you close an account to reopen it. Thats what orchard told me after I closed my account with them. I just closed my account with them my scores did go down a little but not as much as I thought. But I think that's because I have accounts that were opened up around the same time.
on 2008-04-07 If that was your oldest account maybe you should have put it up and not used it. If I am not mistaken you have a certain amount of time after you close an account to reopen it. Thats what orchard told me after I closed my account with them. I just closed my account with them my scores did go down a little but not as much as I thought. But I think that's because I have accounts that were opened up around the same time.
Comment 7 by hjm331
RE: on 2008-04-07
I believe that you have 90 days to re-open a card that you closed.
on 2008-04-07 I believe that you have 90 days to re-open a card that you closed.
Comment 8 by lyyssa01
Thanks... on 2008-04-08
But I'm really not too interested in reopening them. We had some 30 day payments a couple of years ago, and by the time we closed it our apr was at 30%. Plus we replaced them with prime cards and one from a CU, so we're pretty content.
on 2008-04-08 But I'm really not too interested in reopening them. We had some 30 day payments a couple of years ago, and by the time we closed it our apr was at 30%. Plus we replaced them with prime cards and one from a CU, so we're pretty content.
Comment 9 by palten
Isn't WAmu A Prime? on 2008-04-08
Isn't Wamu a prime card?
all the while I thought it was
on 2008-04-08 Isn't Wamu a prime card?all the while I thought it was
Comment 10 by mark
I Believe So! on 2008-04-08
I believe so.
because they don't charge you with account opening fee, activation fee etc etc.
on 2008-04-08 I believe so.because they don't charge you with account opening fee, activation fee etc etc.
Comment 11 by eric
Wamu on 2008-04-22
WAMU is a prime card... They don't have any opening fee, closing fees, monthly account fees, etc etc.
on 2008-04-22 WAMU is a prime card... They don't have any opening fee, closing fees, monthly account fees, etc etc.
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Disclaimer: This content is not provided by Washington Mutual Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Washington Mutual Bank. Review content is powered by Finance Globe.
