I've been a faithful paying client to Washington Mutual Mastercard for over 2 yrs. I've been late once - two times - and also have been careful with this specific consideration because of the good rate of interest of 9.99%. I received my assertion today showing that my rate of interest has doubled to 21.04%. After I named to discover why, they explained it had been because of "observed danger" centered on my credit score. I came across this complicated as my rating is good-and is approximately just like it had been after I requested the card. They offered me two choices: 1. Shut the consideration and obtain my 9.99% price back or 2. Maintain the bill available and consider the DOUBLED price. This, obviously, quit me no option and so I shut the consideration.
The issue I've is how can a lender do that to clients who make funds promptly every month, don't review restriction and also have a great credit rating?
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