Complaint Review: WAMU Washington Mutual Bank

After being a good customer of providian Bank, my 2 credit cards were sold along with others to WAMU, Washington Mutuuak Bank out of Henderson Nevada a few years ago.

2 months ago when I received my statement, there was a notice regarding change of terms. It showed my interest doubling on one account and near tripling on the other. I phone WAMU immediately, and was assured the changes were for new purchases ONLY.

A few weeks after my reassuring call, I called again to re-verify the facts and terms. I was again told that the interest would change only if the accounts were used.

I received my statements this week. One account went from 13.06% to 26.01% on full amounts due. The other went from 9.6% to 21.70%.

I called WAMU and was informed that when I made my previous 2 called inquiring about interest changes, I was given the wrong information. There is nothing they can do to reduce my rates. Period.

Both accounts contain balance transfer rates that were to remain in effect for the life of the loan.....

I closed the accounts, but will never be able to handle the increase in payments needed to keep my account under limit. I am terrified that I will end up in bankruptcy and am physically ill over this situation.

There are mony others facing this with WAMU and I believe we need relief and agree that we in turn are bailing our the banks' bad decisions.

Virginia
Cowpens, South Carolina
U.S.A.