- Report: #336478
Report - Rebuttal - Arbitrate
Complaint Review: WAMU Washington Mutual Bank
WAMU Washington Mutual Bankwww.wamucards.com Henderson, Nevada U.S.A.
WAMU Washington MutualWAMU Washington Mutual Bank Unexplained Exorbitant Interest Increases DallasHenderson Nevada
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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.
Cowpens, South Carolina
This report was posted on Ripoff Report on 06/02/2008 04:49 PM and is a permanent record located here: http://www.ripoffreport.com/r/WAMU-Washington-Mutual-Bank/Henderson-Nevada/WAMU-Washington-MutualWAMU-Washington-Mutual-Bank-Unexplained-Exorbitant-Interest-Increa-336478. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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