I recently received an offer from Washington Mutual with blank checks. The letter stated in large blue font, that my credit limit was $8,000 @. 9% interest deferred until 1. I took advantage of what seemed to be a great opportunity to pay off some credit cards. I wrote myself a check for $8,000 and deposited it in my bank. A few days later, I was informed by my bank that this $8,000 did not clear. Consequently, I accrued $236.50 in overdraft charges and fees.
I wrote a letter to the Chairman & CEO of Washington Mutual, Mr. Kerry Killinger. I have been refused reimbursement because I "should have" called the bank to double check my available credit limit (in the fine print at bottom of offer).
The marketing practices of Washington Mutual to gouge its credit card holders are despicable.
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