Washington Mutual / &Pre-approved& Offer Rejected
I'm sure everyone gets these "pre-approved" credit card offers once in awhile. We've received hundreds from Washington Mutual in the past couple years. We decided to "accept" the "offer" [note: we did NOT "apply"] because the terms were better than our other cards and our plan was to transfer the balances. We were rejected.
We have had a credit monitoring service since early 2006. It alerts us to ANY changes in our credit. So when WaMu stated in their rejection letter that the initial offer was made based upon a "preliminary review" of our credit, then went on to state that it was an issue on our credit that led them to reject our acceptance of their offer, we scratched our heads. Our credit score has done nothing but go UP in the last 2 years. We have had no derogatory info whatsoever posted since January 2006 when my score was about 615. as of May of this year, my score is 688, my husband's score even higher (the "offer" was in my name).
It's my humble conclusion that Washington Mutual is LYING. I think they send out scads of these "pre-approved" offers just to see who will bite. This actually violates Texas law [see link below] and there are dozens of pending complaints against WaMu for this deceptive practice.
If there had been no harm, I wouldn't complain. I just would never do business with WaMu again (and I won't!). But every time a creditor checks your credit report, a note is made. If the number of inquiries don't match the number of new accounts proportionately, that is a negative.
Washington Mutual did damage to my credit. Take care that they don't do the same to you! I think it goes without saying that a business that conducts itself in such a way does not deserve ANY of your business.
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