I say this as a warning to consumers. I have had a Platinum Credit Card through Washington Mutual for 3 years, and never was I once late for a credit card payment. It turns out that even with a flawless payment history they are unwilling to reverse any late payments. WAMU acquired Providian Financial, I wish that I had realized that before I had signed up for a 1 year of 0% interest.
This is a brief synopsis of the events that transpired:
Signed up for e-pay with Bank of America and my payment was not made on the due date since they also like to change their due dates occasionally . My payment was not made on the due date and I called to explain the situation to the customer service representative (bit of irony) because she was far from friendly or helpful. She was extremely rude and unaccommodating. I decided to cancel my account since I hardly had enough on the card to worry about the monthly hassle of making payments. In the sales world, which I guess their CSR, who lack any real world training are unaware of this fact. It is much easier to accommodate a customer by voiding a late fee of $35 then allowing them to walk away. Apparently they do mind losing customers. This may be why their shares are trading at such a dismal price compared to the other big banks in the US. I have even written an email to Kerry K. Killinger Chairman and Chief Executive Officer, not that I am expecting any response. 
I am positing this simply as a caveat to potential customers of WAMU. Here is a funny video of WAMU and their beauracracy , something they state in their commercial that they are not supposed to be. Although this is a parody, employee comments seem to justify the video.
1 response so far ↓
buggie78 // March 26, 2008 at 11:31 am
I don’t doubt what you are saying. I was with Providian before the WAMU buyout and now I wish I would have just paid off my card.
I have asked WAMU to lower my APR since I have been a CC holder for 7 years and over that time they have gone up without reason, I have never been late with a payment. But I get the same canned answer to my email. “We can’t lower you r ate because your account does not warrent that at this time.” WHAT DOES THAT MEAN?? I have other cards and I have not been late, a car payement and a house, same with those. Never been late!!
So I asked them in my latest email if I will be recieving an APR increase due to wanting a decrease. Still waiting on that answer.
Here is some good advise to other CC companies. If you have someone who able to keep up their payments, WORK WITH THEM. I would have been happy with a 3 percent decrease in my APR. How much would that really have cost them since I do carry a balance every month??
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