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Washington Mutual

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Hrishikesh of Iowa City, IA September 13, 2008

Hrishikesh of Iowa City IA (09/13/08)
There was a change in my credit card agreement with a change in APR from 11.99 to 19.99% without nay notice. According to the company they had send me a notice with my bill asking me if to mail them back if I did not agree with their new terms but I don't remember getting any such notice in my mail.

I am paying an interest of around 20 every month instead of 9 which I used to pay earlier.

Mark of Mountain View, CA September 13, 2008

Mark of Mountain View CA (09/13/08)
 I received a WAMU card account and transfered some balance over to it for the initial lower interest rate. On this card I went over balance (never missed a payment mind you). They raised my interest rate to 29.99%. I called and asked them to reduce the interest since my account was not over limit and I had been paying it down (no chance of that). Got upset with them so I just paid it off. Zero balance on the account. The next month I had no bill to pay but the month after that I had a bill of 36 that I missed (unintentionally and not because I couldn't pay 36).

Here is what WAMU did after being a customer for a few years. Over 36 they dropped my credit line to 60 over my current balance (this way any fees they charge would send me over the limit so they could charge me another fee). Their collection calls started immediately which so upset me I told them I had initiated a balance transfer that should be there in 7-10 days. Yet they call 4 or 5 times a day even though I told them they are not getting a penny from me before that balance transfer goes through. They've already charged me a late fee so I basically told them they can wait. I tried sending email to their help from my personal email account but the emails bounce back to me as undeliverable. I sent information through their internal online mail system and they sent a reply to my regular email account that indicated I had a reply in my online account. Went to my online account but they had locked me out of it.

They control this system so I do not want my communication occuring through their system. They say they do it to protect my privacy. They do it because they have control over the system. I have never been treated so poorly by a credit card company all over 36. Oh and by the way when I called them to ask why my credit line was dropped they told me that my bill went from 36 to 161. Let's assume for a second I was someone who couldn't pay. If a person couldn't pay 36 they sure as heck are not going to be able to pay 161. I recognized this immediately and it was what set me off. I knew exactly what they were doing and why they were doing it and it made me not want to deal with them at all. I have already shifted my checking account. This credit card account is closed and they have lost any future business from me or anyone else I can talk out of doing business with them.

My credit score has dropped 36 points but it is no big deal because this will be paid off quickly and I will never deal with them again.

Peggy of Elma, WA September 12, 2008

Peggy of Elma WA (09/12/08)
I went in last week to close my account because there are some automatics that won't stop even though I have requested. The bank refused to close if because there was a pending - I left the money for the pending and they were to close it in the next morning (actually when it posted) Took two days for it to post and then other things had come through so I was overdrawn so they didn't close the account. In the meantime - fees fees fees fees.... They won't reverse any of them because they aren't bank errors. Even though I demanded they close the account when I was there - and told them I would not be responsible for anything that came in.

1000 in NSF and overdraft fees.

Al of Sylmar, CA September 11, 2008

Al of Sylmar CA (09/11/08)
This financial institution (WAMU) continues to hike up their interest rates on a variety existing accounts (credit cards, business credit-lines etc.).

This is a shameful practice, and will likely equate to a linear relationship between WAMUs plummeting stock prices and the amount of remaining customers. There is little to go WooHoo about at WAMU!

Rosemary of Bartlett, IL September 11, 2008

Rosemary of Bartlett IL (09/11/08)
I asked if they could lower my interest rate on my account (which I closed months ago because they kept raising the interest rate) and was told they never lower interest rates. I had this account for close to 10 years, originally with Providian. Never late, never missed a payment, never exceeded my credit limit. Now that I'm out of work, its difficult to maintain, but I am.

Neither customer service rep could tell me what their criteria is for lowering interest rates; in fact, I was disconnected by Les, probably because he didnt know what to tell me. Making minimum payments each month in excess of 150 is a hardship. I want to keep my good credit rating, but they make it very difficult to do. The media tells you to contact your creditors to see if they are willing to work with you, but WAMU is the worst. Obviously they'd rather you filed bankruptcy than try to obtain their money

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