I just logged on to the WaMu credit card website and they havent changed it like the WaMu online account website. I just wonder when it changes to Chase will that mean the end of free monthly PFICO score????

o0oo I just went to wamu.com and it said "Welcome to JP Morgan Chase"... I guess they are doing the CCs as well! Same goes when you go to chase.com, theres a banner welcoming WaMu customers.

http://www.chase.com/welcomewamu/

What stays the same?


Continue to bank just as you usually do

• same account numbers,
• same Washington Mutual name on your account,
• same checks, debit cards, credit cards, deposit slips,
• same online banking website and passwords,
• same branches & ATMs,
• same familiar bankers, and
• same great service!

What will change?


Soon

• You'll be able to use over 9,300 Chase ATMs fee-free - jointly, that's 14,000 ATMs for your banking convenience!

In the future

• You'll begin to see the Chase name on your statements, online, and on your credit cards as they reissue.
• Your branch will be re-named Chase and you'll be re-issued new debit cards with the Chase name. Until then, bank as you do today.
• As our systems merge, you'll be able to use any of the Chase branches nationwide. This won't take place this year, and we'll let you know well in advance of any changes.

I also have a WaMu CC and I wonder if they are takin over them as well.. I guess I will look very closely at my next statement

If they do this, it would b my 3rd CC w/ Chase. I bank with them and so far all my problems that I did have been resolved. So I am satisfied with them.

I for one am looking forward to Chase taking over the credit cards. I have had my Wamu card for a year and have not had an increase. Whenever I call them, they tell me they don't give cli's when a customer asks for one. To me chase is tier one and if this gets me a chase card I will be glad. Funny how Wamu wouldn't give a guy, who pays on time and more than the minimum, a cli but would extend billions in credit to people who were going to default on their mortgages. :

I use WAMU as a secondary bank and DH and I have a few credit cards with them. I saw this coming months ago and was irked when I was rate jacked from 11.99% to 23% last month and DH who has a 697 score was rate jacked from 17% to 29%(prior card was Providian which WAMU purchased).

They have treated theri good customers like dogs to cover their sub-prime losses. The banking branches are very good on customer service and I have no problems with the bank it self but the credit cards are a nother story.

They don't give consumer requested CLI and they only rarely give increases over and above one.

I suspect that Chase bank may sell of the card accounts that they consider risky and or subprime. I hope that they don't close the account or CLD.

p.s I am not for this $700b bailout. I'm for a limited, targeted bailout. I'm tired of the big guys getting helped while us little people are hosed.

I bank with WaMu and could only say good things about the bank and its services. It sucks that they will be dissolved and turned into Chase. Not too many people in my area like Chase and I dont approve of them either form my brother's past exprience with them. I will soon be changing over to a Credit Union once the changes take effect. I also have two credit cards with them and i am worried about what changes will be in store being that Chase is known for not extending credit to people who are rebuilding their credit. We will see wher this goes.

I feel you ... I love my wamu card, besides the paper statements

"For all depositors and other customers of Washington Mutual Bank, this is simply a combination of two banks," Bair said in a statement. "For bank customers, it will be a seamless transition. There will be no interruption in services and bank customers should expect business as usual come Friday morning."
Looks like everyone who banks with Wamu has just become a Chase bank customer. I don't bank with Wamu but I do have a credit card. I am wondering if Chase is taking over Wamu's credit card business and will everyone who has a Wamu card will get a Chase card?

I bank with WaMu and could only say good things about the bank and its services. It sucks that they will be dissolved and turned into Chase. Not too many people in my area like Chase and I dont approve of them either form my brother's past exprience with them. I will soon be changing over to a Credit Union once the changes take effect. I also have two credit cards with them and i am worried about what changes will be in store being that Chase is known for not extending credit to people who are rebuilding their credit. We will see wher this goes.

This Wamu Visa that I am receiving does not have an annual fee but they are charging me $7.95 per month for credit protection which I think is excessive (they have to make their money somehow). But I will not have a card without it so it is necessary expense in my opinion. Wamu also said that they will periodically review my account and give credit limit increases if I meet certain criteria.

I got the same deal I just canceled it and kept saying no..
do you need credit protection? doesn't wamu give you a credit score every month after 3 months? I know mine does for free

As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks — Washington Mutual Inc. has collapsed under the weight of its enormous bad bets on the mortgage market
The Federal Deposit Insurance Corp. seized WaMu on Thursday, and then sold the thrift's banking assets to JPMorgan Chase & Co. for $1.9 billion.
Seattle-based WaMu, which was founded in 1889, is the largest bank to fail by far in the country's history. Its $307 billion in assets eclipse the $40 billion of Continental Illinois National Bank, which failed in 1984, and the $32 billion of IndyMac, which the government seized in July.
One positive is that the sale of WaMu's assets to JPMorgan Chase prevents the thrift's collapse from depleting the FDIC's insurance fund. But that detail is likely to give only marginal solace to Americans facing tighter lending and watching their stock portfolios plunge in the wake of the nation's most momentous financial crisis since the Great Depression.
Because of WaMu's souring mortgages and other risky debt, JPMorgan plans to write down WaMu's loan portfolio by about $31 billion — a figure that could change if the government goes through with its bailout plan and JPMorgan decides to take advantage of it.
"We're in favor of what the government is doing, but we're not relying on what the government is doing. We would've done it anyway," JPMorgan's Chief Executive Jamie Dimon said in a conference call Thursday night, referring to the acquisition. Dimon said he does not know if JPMorgan will take advantage of the bailout.
WaMu is JPMorgan Chase's second acquisition this year of a major financial institution hobbled by losing bets on mortgages. In March, JPMorgan bought the investment bank Bear Stearns Cos. for about $1.4 billion, plus another $900 million in stock ahead of the deal to secure it.
JPMorgan Chase is now the second-largest bank in the United States after Bank of America Corp., which recently bought Merrill Lynch in a flurry of events that included Lehman Brothers Holdings Inc. going bankrupt and American International Group Inc., the world's largest insurer, getting taken over by the government.
JPMorgan also said Thursday it plans to sell $8 billion in common stock to raise capital.
The downfall of WaMu has been widely anticipated for some time because of the company's heavy mortgage-related losses. As investors grew nervous about the bank's health, its stock price plummeted 95 percent from a 52-week high of $36.47 to its close of $1.69 Thursday. On Wednesday, it suffered a ratings downgrade by Standard & Poor's that put it in danger of collapse.
WaMu "was under severe liquidity pressure," FDIC Chairman Sheila Bair told reporters in a conference call.
"For all depositors and other customers of Washington Mutual Bank, this is simply a combination of two banks," Bair said in a statement. "For bank customers, it will be a seamless transition. There will be no interruption in services and bank customers should expect business as usual come Friday morning."
Besides JPMorgan Chase, Wells Fargo & Co., Citigroup Inc., HSBC, Spain's Banco Santander and Toronto-Dominion Bank of Canada were also reportedly possible suitors. WaMu was believed to be talking to private equity firms as well.
The seizure by the government means shareholders' equity in WaMu was wiped out. The deal leaves private equity investors including the firm TPG Capital, which led a $7 billion cash infusion in the bank this spring, on the sidelines empty handed.
WaMu ran into trouble after it got caught up in the once-booming subprime mortgage business. Troubles then spread to other parts of WaMu's home loan portfolio, namely its "option" adjustable-rate mortgage loans. Option ARM loans offer very low introductory payments and let borrowers defer some interest payments until later years. The bank stopped originating those loans in June.
Problems in WaMu's home loan business began to surface in 2006, when the bank reported that the division lost $48 million, compared with net income of about $1 billion in 2005.
At the start of 2007, following the release of the company's annual financial report, then-CEO Kerry Killinger said the bank had prepared for a slowdown in its housing business by sharply reducing its subprime mortgage lending and servicing of loans. Alan H. Fishman, the former president and chief operating officer of Sovereign Bank and president and CEO of Independence Community Bank, replaced Killinger earlier this month.

As more borrowers became delinquent on their mortgages, WaMu worked to help troubled customers refinance their loans as a way to avoid default and foreclosure, committing $2 billion to the effort last April. But that proved to be too little, too late.
At the same time, fears of growing credit problems kept investors from purchasing debt backed by those loans, drying up a source of cash flow for banks that made subprime loans.
In December, WaMu said it would shutter its subprime lending business and reduce expenses with layoffs and a dividend cut.
The bank in July reported a $3 billion second-quarter loss — the biggest in its history — as it boosted its reserves to more than $8 billion to cover losses on bad loans. Over the last three quarters, it added $10.9 billion to its loan-loss provisions.
JPMorgan Chase said it was not acquiring any senior unsecured debt, subordinated debt, and preferred stock of WaMu's banks, or any assets or liabilities of the holding company, Washington Mutual Inc. JPMorgan also said it will not take on the lawsuits facing the holding company.
JPMorgan Chase said the acquisition will give it 5,400 branches in 23 states, and that it plans to close less than 10 percent of the two companies' branches.
The WaMu acquisition would add 50 cents per share to JPMorgan's earnings in 2009, the bank said, adding that it expects to have pretax merger costs of approximately $1.5 billion while achieving pretax savings of approximately $1.5 billion by 2010. "This is a definite win for JPMorgan," said Sebastian Hindman, an analyst at SNL Financial, who said JPMorgan should be able to shoulder the $31 billion writedown to WaMu's portfolio.

Dpes anyone know if WaMu puts a limit on the amount of cards you can have with them?????

I believe their limit 2 cards. Also, they do not combine accounts.

I'm sure most of you remember Providian Cards. Okay. So I get this letter in the mail from Wa-Mu explaining that I was denied because I had a previous account with them and that this reason will not be reported to any credit bureau. So I called the number listed in the letter in an attempt to get a reconsideration. The rep. researched their accounts, using my SSN. Comes back that in 1998(yes 10yrs ago), I had a Providian account that charged off in 1999 and, get this, date of last non-payment 2007
She goes on to explain that Wa-Mu bought the Providian accounts or was the Parent to them and any and all history follows you. Wow

So I am guessing, that for some banks, there is no sunset on your mis-hap in life. So be sure to research the banks holdings before you apply just in-case that in some way they own one of your former card issuers.

I wrote this post to give another possible reason for denials with this and other Big Banks.

Disclaimer]

Dpes anyone know if WaMu puts a limit on the amount of cards you can have with them?????

Kellbell, my mom applied for the ESPN Visa which is issued by WaMu and received an instant denial. I never saw the denial letter but I think she had late payments with them but Providian agreed to her settlement offer.

It is my understanding that WaMu used to be Providian.

I was wondering of WaMu blacklisted?

I ask because I received an invite for WaMu, but I have a Providian charge off, went into collections, and then my wages werer garnished to pay off that debt.

Would Wamu issue me a card with a paid judgment from an old Providian account??????: