CapitolOne Credit APR Increase

[Homerboy]

HSBC upped mine to 30.9% on my GMAC card. Luckily the only reason I have that card is for a low balance transfer that is (slowly) being paid off.

 

[SlowSpyder]

I just paid of the remaining $147 and closed my Capital One account. The more I thought about it the more it bugged me that they chose to more or less punish a good customer who always pays on time like me because of their poor lending practices as well as other people not paying. I doubt they'll miss me too much, they'll just get my tax dollars in the form of a bail out instead. :roll:

 

[zoiks]

Same here. Mine got jacked to 30% even though I have excellent credit. I won't cancel the card since I don't want a hit. But I think I'll keep the card just to make purchases when I'm travelling overseas. I think that's the only card that doesn't charge a conversion rate fee. But I wouldn't be surprised if they started charging for that now.

They sure have a lot of money to keep on playing shitty commercials on tv.

 

[UsandThem]

They upped my from 11% to 18% on mine and the wife's card. Luckily we don't have a balance and don't use them. Just keep them for emergencies and such. I have been a cardholder with them since 2000, and have never missed a payment or anything.

This reminds me when the car insurance companies started factoring in your credit scores instead of your driving record/car accidents to determine your premium. Just a way to get more money.

 

[Rubycon]

IF they want to start making money even those who pay their balance in full they can just drop the grace period so your (insert shark rate here) interest starts the minute the transaction is posted! Imagine that! :Q

 

[Deeko]

Mine went from 7% to 10%, and if I miss a payment it immediately jumps to 24%.

However, this is an old card with no balance that I haven't even touched in about 3 years, so while I was annoyed when I read the letter, I quickly realized it doesn't matter.

 

[Hayabusa Rider]

They bumped mine from 4.99 to 15.6%, and I have first rate credit. BTW it applies to the entire balance regardless of when you made purchases. I spoke to a rep and he told me that 80% of cardholders were having their interest rates jacked up. I told him that means that 80% of their customers ought to lose them. I called the special number and canceled my account.

 

[CptObvious]

Unrelated question: Is Capital One still waiving foreign transaction fees on their cards? Last I checked they were the only card issuer to do this and I was thinking of applying for a card just for this.

 

[zoiks]

Originally posted by: CptObvious
Unrelated question: Is Capital One still waiving foreign transaction fees on their cards? Last I checked they were the only card issuer to do this and I was thinking of applying for a card just for this.

Yeah. That's the only reason I have their card.

 

[SampSon]

I received a notice from Capital one. The increase on my card has to do with my Default APR, not my normal APR.
I will never hold a balance on a credit card, so they can kiss my ass.