Wamu Credit Report Cards
2010
Am I the only person who has had the intrest rates raised on a WAMU CC?
I just open my statement and have had my rates raised by 20%. When I called I was told there was nothing they could do, it was in my contract they could raise my rate anytime. When asked why so much they tried telling me they reviewed my credit report and I was a risk. This after several yrs of good standing. I checked my report before I called and there’s nothing there that raises any red flags. They refuse to lower the rate so away the card goes. I call this Highway Robbery!
I pay my cards off every month and I’m never late. Thinking of cancelling the card completely.
This is one of the reasons I don’t utilize credit card debt. They really do have the power to raise interest rates whenever they feel like it. I was reading an article on CNNMoney.com stating that more lenders are just increasing the rates to make up for losses they incurred because of the problems noted in the economy.
So I believe it wasn’t anything that you did to make the interest rate rise.
Credit Card Minimum Payment Increases
Comment