levibo
New Member
Cash: $ 1.00
Posts: 4
Joined: 19 Jul 2005
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Last August, I applied for a Providian card with no interest until 8/06. My wife subsequently obtained a similar deal with Providian a couple of months later. In December, Washington Mutual bought the accounts and all of a sudden, they began imposing interest on our accounts!! When I called, they just said, "If you have written proof of what you're saying, we'll consider it." Well, my wife and I threw away the welcome letters, so we're out of luck... Washington Mutual gave us the shaft!!!!!
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Fri Feb 24, 2006 2:51 am |
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rockhound
Preferred Member
Cash: $ 26.45
Posts: 132
Joined: 03 Feb 2006
Location: West Virginia
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I guess that is just one more good reason to not depend on a credit card to bolster personal finances. The murderous question: has the imposition of interest altered your financial situation? In other words, were you counting on that 0% interest enough that it is causing you other payment problems? If it hasn't altered your financial picture, you may consider yourself lucky to get off with such a cheap lesson. Not long ago, PBS had a good Frontline episode on credit cards. They point out that credit cards are essentially like approving your own loans (I would say like a junkie writing their own prescriptions), but the markers are held by a loan shark who can change the interest rates and unintelligible contract terms at will without notice. I would definitely pay off and cancel any card that pulled that stuff on me, and let them know exactly why I was cancelling.
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Fri Feb 24, 2006 3:37 am |
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