Usury!!!

Date: 03/28/2007
Subject: Rate

I just did a quick calculation based upon the $50 in "purchase" interest rates. Looks like aprox. 2.5% per month.

Is that correct?

If so that too is unrealistic.

Steve

Original Message Excluded:
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Message Center
View Message

Date: 03/29/2007
Subject: Rate

Dear Steven G Shimer,

Thank you for your recent e-mail regarding your account.

Standard APRs are daily periodic rates for purchases, balance
transfers and cash advances (and corresponding APRs) stated in your
Account Agreement (or a Terms Sheet to your Account Agreement.) The
various rates are located on your statement under the Balance Category
section.

The information contained in this email is current as of the date of
your 3/8/2007 statement, and is not intended as a substitute for the
terms contained in your Account Agreement.

Your standard APR for purchases is 31.49% (variable). [emphasis added]

Your standard APR for the cash advance is 31.49% (variable).

Keep in mind that variable APRs may change due to changes in the Prime
Rate or as otherwise provided in your Account Agreement. In addition,
your Account Agreement may include a provision that would increase your
rates, including any introductory or promotional rates, in the event of
certain circumstances (for example, if your payments are late). Please
refer to your monthly billing statement each month to check for any
changes to your rates due to these events.

If you have further questions or would like additional information,
please e-mail us through our secure Contact Center or you may also call
our Customer Service Department toll-free at 1-800-356-0011.
Representatives are available to assist you 24 hours a day, 7 days a
week.

Thank you. We look forward to more opportunities to meet your financial
needs.

Sincerely,

Customer Service Representative

P.S. We hope you enjoy the convenience of online account access. Keep
in mind, at our website you can check your balance, pay your bill, and
more - - 24 hours a day!

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This is an actual, complete, email from myself to Washington Mutual credit card company, and their actual, complete reply!!

Of course I'll transfer all of my debt from there to SOMEwhere else, probably my local credit union but let this serve as a warning to all who read this. WAMU behaves immorally. This is wrong. It used to be illegal. Where are our legislators?

Now for one more point. I got this card, with a 1 year (or so) 0% interest rate. I'm not sure when it kicked over. Probably when I was late on my payment, but I would never have agreed to a 31 (and a half!) percent interest rate if I'd known.

So pay attention. Be smarter than me. And tell ALL of your friends that this business (for me its my PayPal credit card, but its run by some criminals called WAMU) is out there.

Shame on them. Shame!

I'm done now. But make me happy. Tell everyone you know not to do business with these people.