I recently again contacted (by e-mail) Washington Mutual about lower the interest on my Providian credit card.
Please drop my interest rate and in exchange I will pay off the balance of this account by the end of the year.
Let me word that another way. I would like you to lower my interest rate, and in exchange for you doing so, I WILL pay off the balance by Dec. 28, 2007. Which I figure to about $260/month (and 3 payments) if you will lower that interest rate.
Surely we can work together, you get your money and I get relieved of this debt. Can you arrange this please. Thank you.
After several days and one e-mail apologizing for the delay, I finally received an answer.
Thank you for your e-mail regarding your account. We apologize for the delay in responding to your message.
We received your request for a lower interest rate, but we are unable to meet your request at this time. We do evaluate our customers accounts on a periodic basis. If your account becomes eligible for a better interest rate you will be notified by mail and your account will reflect the change immediately. We are sorry we are unable to meet all of your account needs at this time.
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!
I never agreed to the 36% interest and unlike other personal finance bloggers who have said they were successful in getting their interest rate lowered (with WaMU), I have had the opposite experience. Still, I intend to get this loan debt paid off by the end of the year. Along with the Black Gold insulation and the 2nd (and final) mortgage (home improvement).
If you like this post, buy me a coke
Sorry, I am with WaMu. You did agree to the ridiculous interest rate, and why should they lower it? If you don't like it, move it to a 0% card like everyone else does.
ReplyDeleteWe had a very similar problem with American Express. They absolutely refused to lower their interest rate from 19.24%
ReplyDeleteI admire your conviction to pay it off.
I'll be rooting for you.
Anonymous -
ReplyDeleteactually the interest rate I agreed to was about 19%, that was before WaMU purchased Providian. I have been fighting the interest rate ever since they raised it, without my agreeing to it.
But if you are really with WaMU, it goes to show how little you can be trusted when you hide behind the word Anonymous, and won't even give yourself a nickname.
JW -
thanks....I not only want this debt gone, but also all my others...and I will succeed, even as some creditors like this one try to work against me.
I'm with you on this one. Credit card companies are sharks with large, pointy teeth in the form of extraneous interest rates that just garner them more and more money. I have two via Visa and Bank of America, and they recently jumped by 10% - no reason why, just BAM. 10% more on the interest rate. I've had these cards for years, since before I was in college, and I'm a faithful payer. But? The BOA people? Yeah, they say that no, there's no way they'll lower the interest rates. ...Nice. Thanks, guys! Way to help a girl out!
ReplyDelete