Who raises interest rates on a customer with a great payment history. Apparently WAMU.
I have had a WAMU card for about two years now. I have never had a late payment and I have always paid more than the minimum. Imagine my surprise when I opened up my statement this month and it included a notice that my already high interest rate of 19.99% was going to become 29.99%.
Upon calling and speaking to many CSRs about my account I was told they made the change because I had become a risk. When I pressed further I found out that because I had opened two store cards in the last two months I was now considered high risk by WAMU. Keep in mind that I have barely used my new accounts so I cant imagine how that makes me at risk.
Of course WAMU would reconsider right?
Wrong! In fact I have never been treated with such disregard as a customer. I was even told that they did not care if I remained a customer, or even if I closed by other bank accounts with them as a result. During the entire interaction with the reps on the phone I just kept remembering their commercials where they say they treat different than other banks. Funny because other banks these days seem to be slashing my interest rates and increasing my credit lines. I guess they really dont treat you like other banks they treat you worse.
If you are considering getting this card think twice because your reward for paying on time and being a good customer will be a higher APR and abusive reps. If you have this card and are experiencing this kind of treatment make your voice known. People must know that WAMU will jack up your rate any time they feel like it and you wont be able to do a thing about it.
I have closed my account, pulled my saving out of their bank, and taken my business where my good payment record will be appreciated.
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