Wamu
Interest rate

Okay, these are hard economic times. Fortunately, my credit has no negatives, however, I am leveraged. I reviewed my WAMU statement and was shocked to see that my interest rate had been increased to 31.99%, with the effective APR being 34.69%. My other credit cards charge an average of 16.5%. So, I call WAMU. The nice lady reviewed my account and tells me she had no idea why I was being charged such a high rate. So I playfully ask her if WAMU is now in the loan shark business. She responded by tellng me i will receive a letter from WAMU informing me why. Anyway, I received their letter which informed me that I am a risky customer so they raised my interest rate. Well, WAMU is now in the loan sharking industry. The bright side is that they will not break your legs if you don't pay.

Company: Wamu
Country: USA

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