Washington Mutual Credit Card

Posted by pjsurette
on January 09, 2008

I was paying my Washington Mutual credit card every month and heard about the universal default that credit card companies were imposing on their customers. I thought I was being pretty vigilant about scrutinizing my bills and then I noticed that my interest rate spiked from 15% to 28.9%. I called Washington Mutual for an explanation and they told me they sent me a notice advising that this rate increase would take effect. I asked them to send the notice again. Apparently they had put a tiny sentence on my monthly statement advising of this change and didn't send it as a separate notice. I think if companies are going to make such a drastic change to your financial well being, then they should be required to draft this change in a separate mailing and not try to squeeze it in with your monthly statement hoping that you don't see it and therefore, won't be able to opt out within the required timeframe. They are very deceptive and are basically robbing us of our money.