Consumerism Commentary - Latest Comments in Washington Mutual (Chase) Drops Interest Rate as Expected

Re: Washington Mutual (Chase) Drops Interest Rate as Expected

TheMightyQuinn — Tue, 26 May 2009 17:47:05 -0000

You're not alone Marisa. I can't believe my once proud 4% interest is now at 0.01%.

Be careful if you try to transfer your money to another bank (like ING), since Chase appears to charge $3 to transfer money to another bank.

Re: Washington Mutual (Chase) Drops Interest Rate as Expected

Marisa — Tue, 26 May 2009 17:27:39 -0000

My WaMu online savings rate just dropped to .01%! And I can't even find out what their other current rates are. I may just switch banks all together.

Re: Washington Mutual (Chase) Drops Interest Rate as Expected

purpelnoon — Tue, 23 Dec 2008 20:53:55 -0000

I looked at my CD recently that was paying 5% and it looks like it still is. The 5% rate is still listed.

Re: Washington Mutual (Chase) Drops Interest Rate as Expected

phil — Tue, 23 Dec 2008 17:53:57 -0000

i got the wamu online savings account when it was at 3.5%. now it's dropped to 1.5%.

Re: Washington Mutual (Chase) Drops Interest Rate as Expected

Mike — Mon, 22 Dec 2008 18:59:46 -0000

1.5% and dropping ...

Re: Washington Mutual (Chase) Drops Interest Rate as Expected

Kevin — Fri, 31 Oct 2008 11:41:06 -0000

Newsflash: It's now at 2.5%... how low will it go?

Re: Washington Mutual (Chase) Drops Interest Rate as Expected

jesse_simms — Thu, 09 Oct 2008 22:55:25 -0000

I purchased CD's last Spring at my Credit Union at a set term and interest rate. The following week the rate was halved, yet I had 'locked' into the higher rate per the terms of the CD Agreement.

Not the first time this has happened, and I have been in a reversed situation before as well.

Re: Washington Mutual (Chase) Drops Interest Rate as Expected

TheMightyQuinn — Thu, 09 Oct 2008 12:48:32 -0000

I noticed that too on Monday, when I deposited a large check in my savings hoping to reap that 4%. I wonder how long until it's 2%? If that happens I'll just move it to ING.

As for CDs, it's my understanding if they change the terms of your CD you'll have the option to withdraw without penalty, is this correct? I have a number of these 4-5% CDs with WaMu, but if they change the rates I'll probably just pull them out.

Re: Washington Mutual (Chase) Drops Interest Rate as Expected

purpelnoon — Thu, 09 Oct 2008 07:30:43 -0000

I had a 5% Yield on a CD I had with WAMU, right before the whole debacle. It looks like my "reward" for taking the extra risk will be a lowered interest rate too. You just cant win!