I have had a Washington Mutual Credit card for about 10 years now. I never had a problem with them until the card changed over to Providian.
I had a 19% APR on the card.in the past 4 months, the APR has been increased to 33% without warning or in writing. I called to their "outsourced" call center and was told that when my credit score goes down, then my APR increases.
Hmmm... So they keep jacking up my rate, which puts more money on my credit card, which puts me over the 50% limit of my credit card, which in turn decreases my rate. I have been scammed and from what I am reading it's completely legal because of legislature.
I want to get a loan to pay it off so I can cancel it, but I can't because my credit score keeps going down. Although I have never missed a payment or payed late, I have a decreasing credit score. Which is also causing my APR on this credit card to increase as I speak.
Can anyone offer advice on getting them to decrease the rate, which I have already tried to no avail. Or how I can take legal action, I mean when does the APR stop at 100%??? I need out of this credit card and as the minimum payment keeps increasing, I can only imagine sooner or later I will be over the limit because of the charges.
0 comments