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Washington Mutual APR complaint
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Jun 23, 2008 Washington Mutual complaint by Jeff K |
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I have 2 credit cards with WaMu. I was offered a promotional 5.99% APR on all purchase on my credit card. I was unaware of this promotion, though I do not doubt they sent me appropriate notification. I made a $2,900 purchase on my card; the card's credit limit is $3000. I was shocked to receive this month's statement with my purchase being charged 31.74%. When calling the customer service rep this evening, he indicated that my promotional 5.99% APR had expired by the time I had made my purchase. To further my disgust, I was informed that my May 16th purchase missed the promotional APR by merely 1 day. He informed me that the promotional rate was available only from March 5th to May 15th, 2008. I was certain that with a good diplomatic demeanor, I would be able to resolve the situation with the customer rep. Lo and behold, after about 1 hour of moving up the food chain to speak with the supervising rep. I was told there was nothing that could be done. Words could not express my frustration. Furthermore, I notified them that I had a conversation with a rep at the beginning of May explaining that I was about to make a large purchase and wanted to make sure the rate still applied. In this initial conversation, I was never notified that the rate had a set expiration date. I have been a customer with WaMu for nearly 3 years and I have 2 credit cards with them. Their inability to be flexible has resulted in me cancelling both credit cards this evening. I am only left with this entry and perhaps a letter of correspondence to ease the frustration.
Furthermore, I had paid off the balance in April to make room for this purchase. At this point I was paying an APR of 14.74% on a vast majority of the balance. Had I not even bothered to pay off the balance to make room for this May 16th purchase, I would have still had the original balance at a much lower rate than the 31.74% I am now stuck with. I will never use Washington Mutual again in my life and would encourage all others to join me. I cannot recommend any other credit card companies with perhaps the exception being Capital One. Given their marketing campaigns and my experience with them, I would have to portray them in a positive light. Although, given their competition, that is not saying much.
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1. Written by wamu ***, on 21-07-2008 15:20
wamu raised my apr from 16%24%.When I called they said it was because my credit score had dropped. I checked my credit score, it was 753. I have two cards with them. The other card they reduced my credit limit to the balance owed. I always pay more than the minimum and never had a late payment. I went to the bank to close my checking account and remove my $50,000. The manager did not want me to do so and said she would call the credit card on my behalf. When she called they were very rude to her and said they could not do anything about it and closed my account for complaining. The manager called back and after talking to several rude people reactivated my account. I was pissed so I removed my $50000. I started to pay large payments to pay off my balance, so they rewarded me by lowering my credit limit with each payment.This is lowering my credit score. So now I pay only the minimum because paying more lowers my credit score more than having high balances. Thanks alot wamu you suck! I was a good loyal wamu customer for over 5 years.
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2. Written by flight line, on 10-07-2008 21:41
do not use this airport transportation co.they ripped me off for one hundred dollars and the bbb did nothing about it.the bbb is a total waste of time.90608
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3. Written by rebecca, on 10-07-2008 21:26
i have been a WaMu customer for about 2 years, since they purchased my Providian card. now i would say that i have seen a number of improvements in their customer service over the last two years and i have had a couple of times where they bent over backwards to help me especially on a few recent balance transfers (200 where the other bank was holding the payment for 24 days (no doubt so they could charge me interest on it) and would not release the funds. HOWEVER their are some "guidelines" they cannot alter or budge in any way. this is true of most credit card companies - none of them are really too customer friendly. the 31% apr seems excessive, and surprises me, since i have had mostly good experiences with them. i have had many companies that have arbitrarily reviewed my account and jacked up my rates for no reason, and these guys have never done this to me, so…
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