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WaMu AA

The last post in this topic was posted 4811 days ago. 

 

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I've had my WaMu Platinum card for ~10 mo or so...$2k initial limit, no CLI yet. It's seen fairly decent use, with BT offers and a month in my regular rotation.

 

Last week I was on vacation, and completely forgot when the payment was due. I realized 3 days after the due date passed, and went online to make the payment immediately. They had already lowered my limit to $45 above the balance ($500 or so).

 

I called and asked for mercy (1st offence, and all!) and got shut down. I said screw it and closed the thing... I have much better cards with better limits and terms. I basically just wanted this one for the PFICO.

 

Don't know if this is usual for WaMu to be quick with the AA, but thought I'd share a friendly warning for everyone. :dntknw:

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Don't forget that the old Providian folks are in charge over there now.

 

This is pretty drastic, especially considering your good history, but nothing would surprise me with Providian.

 

A while back, I had gotten my second B of A card. The first statement cut very quickly after I got the card. I missed the date somehow by a few days. Called them and they not only took it off, but I ended up with a nice CLI in a few months on the same card.

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im no wamooler ...but i missed payment is a missed payment...

 

in this day and age... missing a payment is not something easily waived...

 

set up alerts to your cellphone or something... internet access is everywhere...

 

why not just sockdrawer or shoebox the cc instead of close?

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I've had my WaMu Platinum card for ~10 mo or so...$2k initial limit, no CLI yet. It's seen fairly decent use, with BT offers and a month in my regular rotation.

 

Last week I was on vacation, and completely forgot when the payment was due. I realized 3 days after the due date passed, and went online to make the payment immediately. They had already lowered my limit to $45 above the balance ($500 or so).

 

I called and asked for mercy (1st offence, and all!) and got shut down. I said screw it and closed the thing... I have much better cards with better limits and terms. I basically just wanted this one for the PFICO.

 

Don't know if this is usual for WaMu to be quick with the AA, but thought I'd share a friendly warning for everyone. :lol:

Kinda' DRASTIC for a first offense

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I've had my WaMu Platinum card for ~10 mo or so...$2k initial limit, no CLI yet. It's seen fairly decent use, with BT offers and a month in my regular rotation.

 

Last week I was on vacation, and completely forgot when the payment was due. I realized 3 days after the due date passed, and went online to make the payment immediately. They had already lowered my limit to $45 above the balance ($500 or so).

 

I called and asked for mercy (1st offence, and all!) and got shut down. I said screw it and closed the thing... I have much better cards with better limits and terms. I basically just wanted this one for the PFICO.

 

Don't know if this is usual for WaMu to be quick with the AA, but thought I'd share a friendly warning for everyone. :lol:

Kinda' DRASTIC for a first offense

 

Mmmm...yeah.

 

2007...The Great Credit Depression...The Junami...What's next? :lol:

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My daughter did the same thing a few months back. They reduced the CL to just above the balance. We made the payment and a few days later they automatically gave her CL back to normal. If you did not close it yet I would just let it ride and see what happens.

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That is pretty much standard with WAMU. They arent very consumer friendly and wont hesitate to CLD or ratejack if given the opportunity. The only ting positive about WAMU is the pFICO score and other credit educational information that is on their website.

 

I would have probably kept the account open, only for the pFICO scrore. But whatever feels right for you.

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Last week I was on vacation, and completely forgot when the payment was due.

 

<stuff omitted>

 

Don't know if this is usual for WaMu to be quick with the AA, but thought I'd share a friendly warning for everyone. :aggressive:

 

Sorry this happened to you, Kate. But given that you "forgot when the payment was due," I'm not sure why you are upset with Wamu. You've only had the card for 10 months and you're now late on a payment. I imagine that, given this credit environment, you would have done the same thing to a debtor.

 

But I do get the gist of your message: don't be late on credit card payments or a creditor -- in this case Wamu -- could reduce your credit limit. Seems commonsensical, but I'll squirrel it away for future reference.

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Consumers Report rated Providian (WaMu) dead last in consumer satsifaction of the fifteen major credit cards. I concur.

 

I had a $5K CL Providian CC that WaMu acquired when purchases from $Providian. When other CCC awarded me some $50K in CCC Providian immediately reduced my CL to $2.5K and it has stayed there for about two years without a CL increase. This despite carrying a zero balance and never having missed a payment in years. Oh yes, the interest rate was raised to 24.99% from 9.9%. I told them if they didn't lower it that I would continue to not use their card. The customer rep told me that they was my decision.

 

What is so absurd about this is that I have cc's with CL over $120K and currently have promotional deals with BofA alone off $75K at 2%. FAKOs average around 660 because of taking advantage of all the low interest offers that I get (can invest the money and make profit off of low interest money). Also I have had a mortgage with WaMu for four years of 1.4M and have never been late.

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while the OP realizes that they should have made a payment....

 

 

how many of us would also take issue with the lender's reaction?

 

I mean really...come on...who here HASN'T forgotten, or made a payment at the last minute?

 

 

it's not like they were 30 days late....

 

 

Wamu overreacted...but a letter to the ivory tower would have likely have fixed it....and OP could have kept PFICO...

 

 

BUT....another thing I personally would have done, since there's no annual fee is to KEEP the card...pay it in full, and use it to buy a pack of smokes/gum/lunch or some such each month. Make them send out that statement for 3.49 every month...

 

 

wouldn't be noticed by them of course, but I'D feel better knowing that I'm "sticking it to the man" in some small way

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are you paying in full most months? I missed a payment by a few days (no more than 2) and was not AA'd - but i PIF most months and i PIF when i paid that payment late. they waived the fee for first late - i called after the payment posted to get credit.

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while the OP realizes that they should have made a payment....

 

 

how many of us would also take issue with the lender's reaction?

 

I mean really...come on...who here HASN'T forgotten, or made a payment at the last minute?

 

 

it's not like they were 30 days late....

exactly. I forgot twice with HDMC - found out when they sent me the email alerts so it was at least 5 days on the second late. Less than a few months later i got a 2K CLI... I think the lates were 6 months apart (and i now have BOA set to send them $100 a month automatically). I almost always PIF and the few times I didn't, i pif the next month.

 

BUT....another thing I personally would have done, since there's no annual fee is to KEEP the card...pay it in full, and use it to buy a pack of smokes/gum/lunch or some such each month. Make them send out that statement for 3.49 every month...

 

 

wouldn't be noticed by them of course, but I'D feel better knowing that I'm "sticking it to the man" in some small way

 

yeap. closing only hurts you and small bills make retaliation fun. :blink:

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sorry this happened to you OP. WAMU is known for this type of AA when a person is late, even if it's only ONE day late. It may seem extreme to some people but they do it because they can and the best thing you can do is avoid giving them reasons for AA.

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how many of us would also take issue with the lender's reaction?

 

Pryan, hope you're doing well, buddy.

 

On to my comment. Pry, implicit in your question is that you would be surprised by the lender's reaction.

 

See, I would only blame myself. I would not take issue with the lender's reaction. Why? Because I've already reconciled in my mind that lenders react this way when people are late -- even by just a few days. In other words, I've already analyzed the situation ex ante -- not ex post.

 

In this day and age, we should all expect this kind of reaction from lenders. That any of us is surprised is what should be surprising.

 

Anyhow, that still doesn't change the fact that it sucks. And for that I do feel for Kate.

 

OP, I'd call Wamu and see if you can find someone with a heart there. Amid that organization, someone has to have one (right?).

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Last week I was on vacation, and completely forgot when the payment was due.

 

<stuff omitted>

 

Don't know if this is usual for WaMu to be quick with the AA, but thought I'd share a friendly warning for everyone. :rofl:

 

Sorry this happened to you, Kate. But given that you "forgot when the payment was due," I'm not sure why you are upset with Wamu. You've only had the card for 10 months and you're now late on a payment. I imagine that, given this credit environment, you would have done the same thing to a debtor.

 

But I do get the gist of your message: don't be late on credit card payments or a creditor -- in this case Wamu -- could reduce your credit limit. Seems commonsensical, but I'll squirrel it away for future reference.

 

Well, I'm not upset with them, per se, but I do feel that it was a pretty big move for a first offense.

 

I take full responsibility for missing the payment, definitely my fault. I just thought I'd let everyone know that you can't play around with some of these people anymore.

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I just thought I'd let everyone know that you can't play around with some of these people anymore.

 

That's what I figured. A lot of us were already aware of the immediate moves that creditors make. But there are obviously newbies who come to this site who will not be aware. For that, you are making a public service announcement.

 

Thanks.

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while the OP realizes that they should have made a payment....

 

 

how many of us would also take issue with the lender's reaction?

 

I mean really...come on...who here HASN'T forgotten, or made a payment at the last minute?

 

 

it's not like they were 30 days late....

 

 

Wamu overreacted...but a letter to the ivory tower would have likely have fixed it....and OP could have kept PFICO...

 

 

BUT....another thing I personally would have done, since there's no annual fee is to KEEP the card...pay it in full, and use it to buy a pack of smokes/gum/lunch or some such each month. Make them send out that statement for 3.49 every month...

 

 

wouldn't be noticed by them of course, but I'D feel better knowing that I'm "sticking it to the man" in some small way

 

Thanks, Pryan, for the advice and for sticking up for me. :)

 

In hindsight, I suppose I probably should have kept it open, but I'm kind of sick of keeping track of all these small $1k and $2k limit cards that I opened left and right in the beginning of my credit repair journey. I've been trying to slowly downsize, and they gave me a good reason to do it! I think that's part of the reason why I missed the payment...I was on top of things for a long time, but once you start to go on autopilot, you can easily miss details like that.

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The last post in this topic was posted 4811 days ago. 

 

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