I read about this on another board that anyone who has a Mypoints card or other Wamu branded card was getting their Interest Rate hiked up to 25.99%, first thoughts to me was maybe they were late payers etc. well today I get my Wamu statement with the letter we are changing the terms and they are increasing the interest rate effective Jan 1st, 2009 to 25.99 %.

This is ridiculous to double the interest rate on a credit card, I used to pay mine off in full, but haven't since DH went on disability but I make more than the minimum payment on it and its always early never late and this is not right. So I guess I have to do as they say if I want to keep my terms as is send them a letter and my account will be closed, I knew as soon as Washington Mutual was sold to JP Morgan Chase there would be changes but not this soon after takeover. Oh well I guess my Credit Union will be getting my business from here on out and come tax time this card will be paid off in full so I dont have to prolong being a customer of Wamu's for more than a few more months.

Anybody think other Credit Card issuers are going to go to this and raise interest rates on all customers even the loyal good paying ones?

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~ Christine ~
DisAbled SAHM to Stefan 9/30/1998
RIP Daddy~ 01/24/1930-06/01/2007 I miss you !
Dont Think you Can .. know you can ~ Jeff Hardy