I applied for and received a credit card that was issued by Washington Mutual. It was 0% for 6 months on balance transfers and putchases. I did one balance transfer when the card was first opened last September and a number of purchases. I did carry a balance up until March when I paid the balance noted on the statement in full. Each month since then I have paid in full. I just noticed that this month and last month, they have charged me a fee for balance transfers. When I called up it was explained that I still had a balance on the balance transfer, even though it was never shown on my statement which was paid in full each month!
It seems that they keep applying your payment to the purchases, both on the statement and the new ones that haven't been on the statment yet. Whatever amount is left over after that gets applied to the balance transfers. Talk about creative acounting! This company needs to be investigated about their accounting practices, no wonder they can pay high dividends. I'm a shareholder only because I owned Dime stock but I will be selling my shares of this thieving place pretty soon. I have also closed my charge account.
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