Pre approved Wamu Card?

Question

Is anyone else upset with Washington Mutual Bank sending them so called pre-approved credit card letters when in fact you are not pre approved? Does anyone else feel the verbiage is misleading and should instead say something like Invited to apply or Pre-selected to apply like Amex and other reputable lenders do? I was under the impression that by law if you're pre-approved it’s just that and that the lender could not turn you down?

I understand I'm not the onlyone this is happingi to and it's hurt my credit score. Anyone have any suggestions as to what to do? Should I contact an lawer and try and start a class action law suit?

Thanks

Answer 1

What exactly does the item say? They have the right to refuse "service" to anyone they want. It is not like a contract or anything. I would say it was very deceptive but not illegal. Remember, these people have lawyers that tell them exactly what they can do within the law. Sorry.

Answer 2

Deceptive advertising is a horrible thing in my oppinion. I do get frustrated by these things as well.
Unfortunately they get away with it by putting some small print somewhere ont he advertisement taht says you're not guaranteed credit.