Washington Mutual
High jump in interest rate for no reason

Wa Mutual raised my credit card interest rate from 16.99% to 27.35% for no other reason than (what I was told) "they did a risk analysis on my account which told them to raise it" I have never been late, over the limit, and I often make more than the minimum payment. I am also not late or over the limit on any other cards or accounts. I also have another Wa mutual card that has a interest rate of 12.9% and have been told the rate on this card is not increasing at this time. I have talked to customer service three times as well as my branch office and have not got one reason other than the risk analysis to why my rate jumped 11% also they want to increase this rate to 31% as of January unless I close my account. I keep telling them this does not make sense (oh my default apr is lower than my everyday apr) I am wondering is this a legal way to rob people of money? Is Washington Mutual trying to get money back from their loss in the Mortgage market? I did close this account and will transfer its balance to another card but it makes me wish to no longer do any transactions with this bank. Maybe I will switch all my banking to a smaller hometown bank if this is how they treat good customers who always pay their bills on time.

Company: Washington Mutual
Country: USA
State: Texas
City: Dallas
Address: Po Box 66059
Phone: 8003560011

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