WaMu/Providian has a long memory

[Magdalen77]

I was just denied a WaMu card and offered a secured card because "our records indicate that you had an account with us that was closed because it was not kept in good standing". I never had an account with WaMu. I did have a Visa from Providian that I settled for less than full balance back in November 2001. It's due to drop off my report and these jokers have me on some blacklist. Even though I'm a little grumpy about this (hey, where's the love??), I wonder should I get their secured card. What sez the forum???

[isislc]

Secured cards aren't a bad thing and they may eventually graduate you to a nonsecured card

[joanneb1253]

WaMu and Providian became one about two years ago so they are the same company now. I started out w/ Providian but my account is now under WaMu. Providian did help me get back on track and issued a secure card. It took about 4-5 years of not missing any payments and keeping the balace low before I was switched over to non-secure.

I continued with Providian/WaMu but the interest was still high. In the three years following I did have one late payment (5 days) and they whacked me big time and charged 32.79%. After a year plus of being very good and having a very good FICO, I went and asked for a lower interest rate and they dropped it to 28.93. (Whoopee....)

A WaMu branch manager did not believe the way I was treated after reviewing my credit history. She even called in my behalf. After that she advised me to look for another card. (I wonder if she's still working for WaMu....) I went to my credit union to see if I could have a card with them. Now I have a card with 10.28. Needles to say I don't use my WaMu card because I now have another card with a much better interest rate. But... Providian/WaMu did help me get my credit back so I could get something better in the long run.

Something to consider. I know that there are other secure cards that are more consumer friendly. Don't rememebr which ones. I know there are web sites that let you input a criteria you are looking for in a credit or secured card and then they show how cards are ranked, benefits, interest, etc. Good luck!

[Magdalen77]

Something to consider. I know that there are other secure cards that are more consumer friendly. Don't rememebr which ones. I know there are web sites that let you input a criteria you are looking for in a credit or secured card and then they show how cards are ranked, benefits, interest, etc. Good luck!

I'm not really looking for secured cards. I have a couple of non-secured cards. But I applied at BOA and they suggested their secured card and then I get this letter from WaMu suggesting their secured card. I do have one prime card (Chase) and a couple of borderline cards (Juniper and Hooters) and a subprime card (Tribute). I was considering getting BOA because people who've had it are happy with it. A couple of them have said that you go unsecured within a year or so with a good payment record. I was wondering about WaMu (and maybe I want to make nice with Providian). If they're gonna be horse's heinies though, why bother? Anyway, the nearest WaMu is about 50 miles away in NJ. The nearest BOA is less than a mile.

[Fozzle]

It's due to drop off my report and these jokers have me on some blacklist. Even though I'm a little grumpy about this (hey, where's the love??), I wonder should I get their secured card. What sez the forum???

There's not really a blacklist, because I also defaulted on a Providian card in 2001 but was able to get an pre-approved unsecured WaMu last year. If everything else on your report is good, send a recon letter explaining that your financial situation was much different all those years ago, and you've had a good credit history since then.

Also, a "horse's heinie" wouldn't have even offered the secured card, so it does sound like they are being fair to someone with a previous default with them. I'm just sayin'...

[Magdalen77]

There's not really a blacklist, because I also defaulted on a Providian card in 2001 but was able to get an pre-approved unsecured WaMu last year. If everything else on your report is good, send a recon letter explaining that your financial situation was much different all those years ago, and you've had a good credit history since then.

Also, a "horse's heinie" wouldn't have even offered the secured card, so it does sound like they are being fair to someone with a previous default with them. I'm just sayin'...

The horse's heinie comment was due to the previous poster's experience of them taking 4-5 years of perfect history before they left the card go unsecured. And the continuing high interest rate on the card (again according to the previous poster). I'll admit that I paid off for less than the full balance and though, in their minds, that might be the same as a default at the time I was doing the best I could to dig out of a situation with very little money. I worked my own heinie off doing overtime so I could make those settlement payments. Yep, it was my account and my fault that I fell behind (in bad situation at the time, but who hasn't been), no excuse.

I was just wondering if it's worth it to get a secured WaMu card along with the BOA card I intend to get. The point may be moot because the nearest WaMu is too far away (I don't want to make nice with them bad enough to drive 50 miles though Philly and Jersey traffic). The letter said I could apply for and get my card at the nearest WaMu.

One thing I did appreciate, WaMu did not pull my credit, even in the letter they said they did not and would not unless I went for the secured card and later went for an unsecured card. I appreciate that since my CRs are taking hit from my app spree. While at least EX is, the others I've removed or b*.