I was shocked to discover that the aforementioned credit card company increased my interest rate in excess of 50%. More importantly this increase occurred without my knowledge. To date I've never been late on a payment. Additionally, I always pay a significantly more than the minimum payment.
Currently my credit score is higher than when the company issued me the card! When I inquired about the rate increase WAMU could not provide me with adequate justification. Their response was ' We sent out a letter in April'! It is my intent to pay off this card as soon as possible!
I have filed a complaint with my state representatives urging them to support HR 5546, The Credit Card Fair Fee Act. Please pass the word; acts of consumer abuse such, as this should not be tolerated. Without the consumer this company would cease to exist.
Additionally, I will do what ever I can to help stop these abusive practices. If an individual or family were experiencing financial difficulties these practices only compound the issue! This is criminal. If you have been victimized by this company please consider utilizing the following is the link to contact your representative:
UnfairCreditCardFees.com
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