Unfortunately, many other credit card issuers continue with this practice and WaMu charges 26% for my former Providian account. I called to have the rate lowered, they denied my request.
I don't have a single derogatory item on my credit report, but my credit score was low in May when they increased the rate. The FICO score was low due to inquiries, new accounts and high balances. In October it was over 700, yet WaMu still charges me 26%.
