Capital One has changed their interest rates on me

[VinylxScratches]

I have a $500 dollar limit with Capital One, they just sent me a notice that their changing their percentage rate.

It says I can decline. If I do, will this affect my Credit?

 

[CRXican]

breaking news!

 

[SagaLore]

That's cool. Most vendors don't even tell you, or hide it in the fine print of the bill.

 

[Jmman]

Originally posted by: VinylxScratches
I have a $500 dollar limit with Capital One, they just sent me a notice that their changing their percentage rate.

It says I can decline. If I do, will this affect my Credit?

Everyone is getting similar notices, not just from Capital One. The only way you can decline it is to cancel your card, which usually doesn't help your credit.......

 

[destrekor]

Yeah, I'm glad I just paid off my Capital One card. I'll keep it open, but I'm only going to use my USAA MC now that I just scored that. Prime + 1.75% FTW. And they would be the last company I'd ever expect to just randomly raise rates. It could happen, but I plan to be smarter with this one and pay things off, not even worry about letting APR even mess with my balance anyhow.

 

[HardcoreRobot]

you can probably opt out of the change, which means when your current annual agreement is up, the card will be closed.
opting out wont affect the credit, but the card closing will.

 

[NFS4]

We're already discussing it here:


http://forums.anandtech.com/me...=2253274&enterthread=y

 

[Newbian]

Originally posted by: VinylxScratches
I have a $500 dollar limit with Capital One, they just sent me a notice that their changing their percentage rate.

It says I can decline. If I do, will this affect my Credit?

If you close your card by declining then yes it will hurt your credit score.

Nothing like getting rammed on either choice huh?

 

[erub]

I just got another $107 in rewards from Chase. Non-subprime lenders FTW!