I recently received an offer in the mail to apply for this card. I have bad credit so I just wanted to know how legit this is. I have looked at poor credit card offers in the past but I don't want to pay $150 to $250 just to reveive a card. I want to build my credit back up. How can they send me an offer for this card when I cannot get approved elsewhere?
2006-07-01 04:16:53 · 8 answers · asked by gmckfanusc 2 in Business & Finance ➔ Credit
Its not that we don't have the $200 or so to get the card, we just don't want to pay that just to receive the card. I think we are just going to get a secured card to build our credit up. Thanks for all the responses!
2006-07-02 16:01:43 · update #1
They probably pre-approved you. Which means they got your address from something else and wanted to send you an offer. The best choice for you would probably be an Orchard Bank credit card. They offer credit to people with low or poor credit scores. They interest will probably be higher because credit cards companies feel that they are taking a bigger risk by offering credit to you. But if you keep your account in good standing and make your payments, then you will eventually qualify for lower interest levels and better credit card offers. Try Capital One too. Good Luck!
2006-07-01 04:21:39 · answer #1 · answered by Anonymous · 0⤊ 1⤋
I bank with WaMU, and they recently informed me that they are switching my Visa over to a Mastercard. I like banking with them, if you want to make sure it is legit I suggest visiting a local branch and talking to someone there. I've never heard of paying $150 for a credit card, so check it out.
2006-07-01 11:25:33 · answer #2 · answered by alcachofita 3 · 0⤊ 0⤋
If you have bad credit, you won't get the card from Washington Mutual. Practically everyone receives these preapproval letters from Washington Mutual, Capitol One, etc.
If you have bad credit, apply for a card with Orchard Bank.
2006-07-01 19:25:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
All these cards are bad. I suggest Household Bank for credit repair. They report to all three credit agencies and the fees are good.
2006-07-01 12:27:30 · answer #4 · answered by Jkasc 1 · 0⤊ 0⤋
If you don't have $150-250, you certainly don't need a credit card. How will you pay the bill when it comes in? Try putting money in a savings account and paying cash for the things you want. You should ALWAYS have money in savings for emergencies (they WILL happen).
Don't worry about 'repairing' your credit. If you have money in savings, you won't NEED credit. And when you get over $10,000 and go to buy a house, that money in savings says more about your creditworthiness than any credit score.
2006-07-02 19:40:10 · answer #5 · answered by homeschoolmom 5 · 0⤊ 3⤋
I am in the same situation as you. WaMu sent me a card (pre-approval), even though I couldn't get approved for a loan (even with a co-signer). I decided to try it and they approved me. My card arrives next week.
2006-07-06 07:27:32 · answer #6 · answered by shawonda 3 · 0⤊ 1⤋
wm..is a good company...they used to be Providian..but they changed names. They did a credit pull on you...a soft pull...and they feel your good enough. I'd say go for it...they charge you a fee..$29.00-$59.00 per year but it's worth it...you'll probably start with $1000 credit limit!
2006-07-01 12:55:10 · answer #7 · answered by Anonymous · 0⤊ 0⤋
wamu is a very good bank. an offer doesn't mean you'll be approved.
2006-07-01 11:20:42 · answer #8 · answered by Anonymous · 0⤊ 0⤋