Financial Anger Part 2: WaMu MasterCard

Switching banks or juggling credit cards is a trap. I got my WaMu Mastercard because it had a 0% APR which I could carry some larger balances on and have more spending power by breaking a large amount of debt into two interest free payments. Sadly having your credit card and ATM through the same bank can have some confusing ramifications, especially when your ATM card has just been changed to a mastercard as well.

Long story short: I used my credit card at an ATM, incurred a 10$ cash advance fee and had to pay off the whole 1,000$ balance in order to avoid being further charged interest on the $60 I took out, (as cash advances aren't 0% APR). That utterly invalidates the entire point of having the card in the first place.

Shameka, the agent I spoke to, was less than helpful. I didn't push the issue... yet. They do have the power to waive the transaction, that much I know. I don't think it was acceptable of them to use my bank pin for my credit card to begin with. That doesn't seem very secure. (I would never set a pin on a credit card precisely because cash advances are such a ripoff.)

After the transaction clears, I'm going to call back to cancel. If they give me my 10$ back I'll keep it. Or at least I'll consider it. I thought I could use the system to my advantage but I slipped up. At the very least, it will be a ten dollar lesson in the importance of simplicity.