I had a credit card with Providian through Pay Pal and a low interest rate. All of a sudden I received a new card from Washington Mutual stating they had taken over and replaced the account. They neglected to let me know they were raising my interest rate substantially.
Since this occurred my husband had major cancer surgery and I was spending all my time at the hospital with him. I called Washinton Mutual to let them know my payment would be late (first time) and they said ok. I then asked if I could make the payment over the phone and they said ok.
They then charged me a late fee, and a fee to pay over the phone. When I received my next statement my interest rate had jumped again... Now to 29%.
At that time I had never gone over my credit line nor had I been late. The next saga was they changed my due date which made my next payment late. I called to no avail.
I have called and called and sent e-mails to them begging them to reduce my interest rate... No luck AT ALL. Something must be done by the federal government to keep this from happening. We are getting screwed by the government and banks once again.
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