WAMU now Chase....Uh Oh

[Brendon]

Just curious if anyone has had any repercussions from this change. I have a WAMU card, which is now owned by Chase. I did not bk a Chase card, but worried they may cancel my account because of the bk regardless. So far everything looks good, but you never know. Anyone else have any thing to report or advice to look forward to? Thanks!


Sorry, I should have used the search function first....I found lots of information regarding the switch....

[mgmadara]

We included Chase in our bankruptcy and I have a WAMU/Chase card. So far everything is the same with Chase as it was with WAMU, but I'm not getting my hopes up.

[BassBoy]

Me too. I got their latest "Changes to your account agreement" crap, but so far, nothing has happened to my account. The openeing letter did say something to the affect of honoring existing terms and conditions. I plan on stuffing this card in my sock drawer when I make my next payment and payoff the balance. I'll keep the account open though for the tradeline.

[Flamingo]

We've had a WAMU Visa since 1/07. We have had no problems arise and our bill and online account informatoin now indicates Chase. We too had Chase in our filing. Unless you have been bad with this account and may have had some late payments, there should not be a problem. However, as most of us in BK have found out, nothing is guaranteed when it comes to credit cards with a BK on your records.

[erinmi]

Yeah. We BK'd Chase on both a cc and a car loan but got a wamu card before it got bought out with a great low interest rate of 9.9%

I got my "Changes to your account terms" paperwork the other day. They changed the rate to variable currently 10.24% plus they added a variety of crap to the terms and conditions. My favorite added lines were:

"We can change this agreement at any time, regardless of whether you have access to your account, by adding, deleting, or modifying any provision"

"At our discretion, we may increase, reduce, or cancel your credit, or the cash advance portion of your credit, at any time"

"You agree that we are authorized to allocate your payments and credits in a way that is most favorable or convenient for us. For example, you authorize us to apply your payments and credits to balances with lower APRs (such as promotional APRs) before balances with higher APRs"

So helpful

[StartingOver08]

Well, maybe if EVERYONE with a credit card stopped paying the cc' co's would bring in the changes that are to happen in 2010 a little quicker! LOL.

[DisneyGirl]

Just a heads up if you have a Wamu PetSmart visa, Chase is not supporting it. I just got an e-mail saying they are pulling out and that card will no longer be good. However, they did say that Chase will offer the chance to convert to a Chase visa card. We'll see if that really happens or not.

Edit: I just talked to Customer Service at Chase. According to the CS Rep. the card will still be good and they will honor any promotional rates. The only thing stopping is the rewards program at this time. However converting to a Chase card is in the not so distant future. I hope he was right and the card itself is still good. I'll miss the reward points but I'd miss the zero interest even more.

[krielly]

I got the same email, but I understood it to say as you intially did, they will no longer be supporting the Pet Perks card.
They had stated in the email that we would be given an opportunity to transfer to another card. I'll bet that means re-applying. YAY!

I would be skeptical about what the Chase rep told you. They may not be well informed about the different WAMU cards, and speaking of a straight WAMU Visa/MC Transfer vs a Petsmart Card transfer.

I hope you are right, but I'm not holding my breath!

I believe they said more information would be forthcoming soon!

K

[AMISLANDER]

Yeah. We BK'd Chase on both a cc and a car loan but got a wamu card before it got bought out with a great low interest rate of 9.9%

I got my "Changes to your account terms" paperwork the other day. They changed the rate to variable currently 10.24% plus they added a variety of crap to the terms and conditions. My favorite added lines were:

"We can change this agreement at any time, regardless of whether you have access to your account, by adding, deleting, or modifying any provision"

"At our discretion, we may increase, reduce, or cancel your credit, or the cash advance portion of your credit, at any time"

"You agree that we are authorized to allocate your payments and credits in a way that is most favorable or convenient for us. For example, you authorize us to apply your payments and credits to balances with lower APRs (such as promotional APRs) before balances with higher APRs"

So helpful

Ditto for me....I've made way over min. payments, always ahead of time...blah blah blah...oh I'm SO EXCITED ABOUT THE NEW CHANGES WITH CHASE.....(right...)

9.9 to 10.24......just jack it to 29% and get it over with!

[DYLAN150]

I had two WAMU credit cards that I have not used in over 6 months ( no balance) They cancelled both last month for what they called non-use. They said it would not hurt my credit score but thats bull cause it does.

[Logan]

I had two WAMU credit cards that I have not used in over 6 months ( no balance) They cancelled both last month for what they called non-use. They said it would not hurt my credit score but thats bull cause it does.

This is why I rotate my Credit Cards.

[FLBK7]

I had two WAMU credit cards that I have not used in over 6 months ( no balance) They cancelled both last month for what they called non-use. They said it would not hurt my credit score but thats bull cause it does.

I believe you. I make a point of charging something to each of my credit cards each month, on a rotation basis. I already had an experience similar to yours when Crap1 tried to charge me an annual fee because (paraphrased from the letter) "it costs us money to maintain a non-active account." I cancelled immediately.

[lostinmich]

I'm not confident that I'll be able to keep my card with Chase. I currently have an ESPN rewards card, have always paid more than minimum due, maintained a low balance, and have never been late. I received a letter yesterday stating that the ESPN rewards will be discontinued and that the card will be converted to a Chase Flexible Rewards card. Here's the kicker though....the second paragraph says "If you continue to meet our credit criteria, you should receive your new Chase card during the month of March". I'm betting I won't be getting one since I BK'ed on Chase.

[magyar123]

Just wondering - will Chase online payment options remain the same as they were/are with Wamu before - that you can make an online payment whenever you want to and whatever amount you want to over and above the minimum required? And NOT sign up for automatic withdrawals.

[lostinmich]

Just wondering - will Chase online payment options remain the same as they were/are with Wamu before - that you can make an online payment whenever you want to and whatever amount you want to over and above the minimum required? And NOT sign up for automatic withdrawals.

My GF has 2 Chase cards and she is able to schedule payments whenever and for how much she wants. Automatic withdrawals are not required.