I have had many credit cards, and I have never had the experience with any that I have recently had with WAMU.
I had signed up for the card just so that I could get there free fico score. My husband had a card with them and I seen he could get his score free whenever he wanted it or needed it, I like that idea, so when they send me the pre-approved letter in the mail, I took them up on there offer.
When I received the card I had 6 months interest free on all purchases, and an interest rate of 10.99%. I have had the card now for over a year, and just the other day, along with my statement I got this important message. My interest rate as of June 1-2008 will increase to 19.99%.
I called them right away demanded an explanation, the letter said to call to get the information as to why they are doing this, of course I had to go through 3 different people before someone would give some sort of an explanation, and even then all she could tell me was that they did a credit check last month and there is something with my credit report. But at this time I had the option to opt out of accepting these new terms and close my account with the terms which I had originally accepted. So since I couldn't get no explanation I did just that and closed my account.
Next call to trans union credit to order a credit report. My report came within 3 days, and there is nothing wrong nor changed on my report and my score has actually increased by 26 points in the last 3 months. When I tried to get info from WAMU again about this I was left sitting on hold for over 30 minutes till I just hung up.
This wouldn't have been such a bad thing had this been effective on purchases made as of June 1-2008, but it wasn't and they wanted to make it effective on the balance I already owed them.
Now that my account is closed, I don't think I will ever deal with WAMU again, not even if it was a lifetime of free interest.