Complaint / Review
WaMu
Raises interest rates for no reason

Washington Mutual raised my credit card interest rate for no reason to 31.99%. I have paid above the minimum always before the bill is due. My credit score is 17 points higher than when I received the card. I called to aks them why and the response was that there was a notification in one of my previous bills. I asked again what was the reason and the woman on the phone said there was none and they would send me a letter.

I received a letter a week later stating it was based due to my credit risk. Because of amount owed on revolving accounts and balance to credit limit ratios.

I haven't used this credit card in several months because I received a new one at 7.99% (evidently they didn't think I was a risk) and paid off and closed two old cards (one for a store). Thw WaMu account is closed and I am paying off the balance.

So my credit score is higher, I own my own home, have a steady career, married for 20 years and owe less than when I first received the card. I guess being a responsible adult who pays their bills on time makes me a bad credit risk to WAMU.