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From Cabela's to Chase?

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Wow,

I applied for a Cabela's card in September, but my credit was bad so they sent me over to WAMU. Who issued me a card...

Well I get a letter form Chase saying in March they are changing over all of the Cabela's cards to Chase "as long as you meet our critera"

Is it possable I will get a Chase Card???

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I was wondering about that, too. My WaMu was never a Providian but I know it's "low-grade" because there is some code or something that the user is not supposed to see that says, "Brand name: Providian."

So I'm wondering if "meeting their criteria" means simply that the account is in good standing. You don't think Chase will go over all of us with a fine-toothed comb and separate the wheat from the chaff, do you?

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I'm really hoping not. If they just go by the history of the account I think a lot of us will be in good shape. I've been keeping an eye on soft pulls of my CR and haven't seen anything yet. Will keep you guys informed if I see any activity on their part.

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Same here. I hope they go on just account history. What sucks is losing the Cabela's reward points. I have a store an hour away from me and loved getting free stuff. Not to mention the free FICO they are taking away

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I was wondering about that, too. My WaMu was never a Providian but I know it's "low-grade" because there is some code or something that the user is not supposed to see that says, "Brand name: Providian."

So I'm wondering if "meeting their criteria" means simply that the account is in good standing. You don't think Chase will go over all of us with a fine-toothed comb and separate the wheat from the chaff, do you?

I understand your sentiments, but don't you think it would be foolish if they didn't? Providian being sub prime king and WaMu being not much better, it certainly makes sense to fully review not only the accounts, but also the account holders.

If I had any say in their portfolio management, I would do a thorough review of each account WaMu had. After doing this, I would:

1.

Cut all accounts that have been inactive for 6+ (maybe 12+) months. I don't even want to know anything else about them. Not enough current data to make any decisions and underwritten by those who are completely unreliable. Easier to cut these and move on rather than guess where the pieces might fit. If these account holders want a Chase card, they can apply for a new account separately.

2.

The worthy account holders with a good history fully assimilated to the Chase brand and added to existing Chase portfolios. Let these account holders Account Transfer to any of Chase's credit products, including the more than 200 affinity and co-branded products. It's one of the reasons they wanted to buy WaMu after all, FDIC benefits aside.

3.

The unworthy account holders packaged and sold at a firesale price to Juniper/Barclays or HSBC or First Premier or anybody else who wants them and can effectively service them.

I'd also consider instead of step 3 or maybe in addition to step 3:

4.

Packaging these accounts into a very closely watched portfolio, but letting them get a Chase branded card, at least temporarily. It avoids any negative press and at the same time makes these customers feel like they have a real Chase card.

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I'm not sure about any of you other guys with the old Cabelas cards but it's official that I was given a Chase card! I never received it so I had to call to have the card cancelled and a new one sent out. I like this deal better than the last, the account is now with a prime lender. Hope everyone got their replacement cards too!

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It's not my job to worry about what I think the credit card issuers should do. (That said, sometimes I do anyway, and I agree that I'd manage risk very carefully if I were the issuer! In fact, so carefully I would not lend enough to make a profit! :) )

I happen to know that I'm a great risk no matter what my profile, history, or current "portfolio" (LOL) of credit says. But yeah, I know that big companies don't know me as well as I or my best friend do...

It looks like I'm in group 4:

4.

Packaging these accounts into a very closely watched portfolio, but letting them get a Chase branded card, at least temporarily. It avoids any negative press and at the same time makes these customers feel like they have a real Chase card.

I actually called up on the first day of Chase online access and asked for a CLI (I know, I have a lot of guts.) I even took the credit ding of a hard pull for that. I got shuttled to about four people and the last one grilled me about everything including my underwear size (OK, she stopped short of that.) I felt like I was in court, with a judge asking me to explain myself. I was denied but I completely understand why (my utilization is too high - although she did ask why it is so high and at least I learned that is the only real reason for the decline) and I appreciate it that I got to talk to a person who gave it careful consideration and seemed to want to give me a CLI. It's better than getting a response back directly from a computer program! And I feel that if/when I get my utilization down, it will be E-Z to get a CLI.

I've had good luck lately with getting APR decreases by calling and asking. I called to ask about either of those but the decrease was not discussed. I guess that's a tough one in this economic climate. One issuer did drop my rate by 2%, but it was a high rate to begin with, and another promised that they noted my request and will consider it at the next regular account review in April.

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For the above posts about the WaMu to Chase or Cabela to Chase:

Chase is issuing cards out to the current customers whose banks/companies were acquired by the Chase transaction. After Chase updated the WaMu credit card websites, I still have the same account number, but all my rewards with WaMu (cash back) were transfered to Chase Reward points.

So yes, I believe we will "lose" our rewards, but we are getting Chase credit cards.

I'm pretty happy about this situation (sorry WaMu customers) because I've always wanted a Chase credit card, but I didn't have to apply for this one; it was "free".

I've had this "account" since my card was part of the Providian family, then WaMu, and now Chase.

I do hope everyone gets a Chase card that was affiliated with the "bye-bye" banks and companies; you should if your account was in "good standings". (and we all know what that means, especially in times like these :) )

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I'm with Esquire. I started from the begining and still am with them. I see the change for the good. The thing I worry about is I have a zero balance on my card. I was so miffed at WaMu who was charging me over 30% for one, three day late payment, that I signed up through my Credit Union and now have a Visa with them at only 10.2%. Guess I will go charge a few things that I can easily pay off each month on the Chase, but would like to keep that card for emergencies because it has a nice credit limit.

These days it's dammed if you do, dammed if you don't....

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I'm with Esquire. I started from the begining and still am with them. I see the change for the good. The thing I worry about is I have a zero balance on my card. I was so miffed at WaMu who was charging me over 30% for one, three day late payment, that I signed up through my Credit Union and now have a Visa with them at only 10.2%. Guess I will go charge a few things that I can easily pay off each month on the Chase, but would like to keep that card for emergencies because it has a nice credit limit.

These days it's dammed if you do, dammed if you don't....

Lordy! Don't be late on a payment...EVER AGAIN or I'll have to come kick you! :) At least you are still paying it off and have a better credit card. :)

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I actually called up on the first day of Chase online access and asked for a CLI

....

I appreciate it that I got to talk to a person who gave it careful consideration and seemed to want to give me a CLI. It's better than getting a response back directly from a computer program! And I feel that if/when I get my utilization down, it will be E-Z to get a CLI.

This is a good insight. I think you'll find dealing with a first-class company like Chase to be a dream compared to some of the other issuers you have listed in your signature. (This is provided you don't default on the account.)

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