Transfer balances, 0% interest! That was a Wamu offer to me. Hurray! I did a little research and found out they employed sketchy practices re: fooling with credit limts etc., but thought "the rates are good and I pay on time and I don't plan to charge anything" so who cares?
Dramatization
First question on application - how much would you like to transfer? Answer: $3,500
... Fill in other information including account numbers for transfers...
Response: "You've been approved for a $3,500 credit limit!"
Yay! Except that won't cover the fees. I can't get through to wamu - since I don't have an account yet, so I pay down my transferring accounts so there isn't $3,500 to transfer and check daily on-line to see what is happening.
Well, what do you know I have $3,500 transfer fees OVER BALANCE CHARGE on my first statement (and credits on my other accounts). Now that my account is active, I can contact Wamu - operator snarkily chides me for not considering the transfer fees. I am livid and explain the process, they accepted the transfer and set the credit limit and I had no opportunity to change anything. Then she says "Oh, that was a mistake, your fee will be credited in the next few billing cycles". Hmmmm... Why not immediately? Now that three cycles have come and gone, I know why. They are hoping I forget and they will make me call and explain yet again.
Their plan - Step 1. Add bogus charge, hope he doesn't notice. Step 2. If he notices, blame it on him and see if he accepts the blame. Step 3. If he doesn't accept the blame, promise to resolve it in the future and hope he forgets. Step 4. (to come) — bottom line - charge interest on the bogus fee and maybe even keep the fee if the customer wears down.
Love doin' business with Wamu. Oh by the way, by the first statement my credit limit had been increased by $1,000.
0 comments