Capital One

[AR182]

I've had a Capital One card for about 10 years & have always either made a partial payment (always more than the minimum due) or have paid the full amount due. My account has never been delinquent.

The interest rate has varied over the years, but never higher than 8.9%....until now. The statement that I just got today shows an interest rate of 17.9%. Of course I called Capital One & cancelled the card.

Has this happened to anybody else?

 

[Cie]

Same thing happened to me with Bank of America. Rate increased to near 20% out of the blue. I called to complain, and it was lowered to 14.99%, which is still too high.

I kept it though, because I have an excellent frequent flyer deal through this card, so I run a bunch of my monthly expenses through it and pay it off monthy.

 

[AR182]

Same thing happened to me with Bank of America. Rate increased to near 20% out of the blue. I called to complain, and it was lowered to 14.99%, which is still too high.

I kept it though, because I have an excellent frequent flyer deal through this card, so I run a bunch of my monthly expenses through it and pay it off monthy.

Cie, you would think that these companies would want to keep people who make payments on time....can't figure out why they did it.

 

[MadJack]

Cie, you would think that these companies would want to keep people who make payments on time....can't figure out why they did it.

They did the same thing to me. I didn't even notice until you mentioned it and I checked my account online. I don't care because I never carry a balance and the only time I use it is when a place doesn't take American Express.

If you cancel a card it will drop your credit rating.

 

[Cie]

Cie, you would think that these companies would want to keep people who make payments on time....can't figure out why they did it.

They are greedy as all hell.

 

[AR182]

I don't care because I never carry a balance and the only time I use it is when a place doesn't take American Express.

If you cancel a card it will drop your credit rating.

For me that's not the point. I don't like sneaky people or companies. They should note it in the statement that they raised the rates. I am not worried about hurting my credit rating because I will have a zero balance with this card & I will have a new card by the end of the week.

 

[MadJack]

For me that's not the point. I don't like sneaky people or companies. They should note it in the statement that they raised the rates. I am not worried about hurting my credit rating because I will have a zero balance with this card & I will have a new card by the end of the week.

They're all sneaky. About a year ago BP tried to sneak in a $40 yearly fee for the 'convenience' of using their CARD. I did cancel that thing!

 

[smurphy]

I've had a Capital One card for about 10 years & have always either made a partial payment (always more than the minimum due) or have paid the full amount due. My account has never been delinquent.

The interest rate has varied over the years, but never higher than 8.9%....until now. The statement that I just got today shows an interest rate of 17.9%. Of course I called Capital One & cancelled the card.

Has this happened to anybody else?

It will probably jump to 29% for no reason before you know it. Credit cards are nothing more than loan sharks at this point.

 

[RAYMOND]

It will probably jump to 29% for no reason before you know it. Credit cards are nothing more than loan sharks at this point.

I AGREE WITH THE SMURPH ON THIS ONE!

GREAT POINT MURPH:00hour

 

[gardenweasel]

didn`t they used to send a statement out when they pulled these shenanigans?...in print that was so small it made a pdf look like it was printed for the nearly blind?....

my doctor is now receiving a yearly surcharge.....

apparently things are tough all over...

carrying credit card balances is akin to playing russian roulette these days...

 

[smurphy]

And whatever you do, don't ever write one of those checks to yourself that they like to send out regularly.

 

[yyz]

Cie, you would think that these companies would want to keep people who make payments on time....can't figure out why they did it.

Actually, you are the customer they are glad to get rid of. They don't make much money off of you.

 

[jr11]

I have not carried a balance on one of these cards for years now, probably 8-10 to be exact, and I use a credit card for everything. Bill comes in and I pay it the next day. I maximize every fucking thing I can get from them, flights money or whatever. They must hate me. I have about 80,000 points on my sony visa card now, time to get a new tv on them.

 

[jmsclark]

me tooooooooooooooo

me tooooooooooooooo

spam banned:admin

 

[Morris]

Actually, you are the customer they are glad to get rid of. They don't make much money off of you.

Exactly, I listened to a guy on the radio the other day and he said that credit card cos. refer to people that pay off monthly balances as free loaders. Believe me they are working very hard to change that if they can.

 

[MadJack]

Exactly, I listened to a guy on the radio the other day and he said that credit card cos. refer to people that pay off monthly balances as free loaders. Believe me they are working very hard to change that if they can.

AMEX loves me :0008

 

[Old School]

Actually, you are the customer they are glad to get rid of. They don't make much money off of you.

TRUTH....


free loaders...THAT'S ME...:0028

 

[Morris]

TRUTH....


free loaders...THAT'S ME...:0028

Me too!!

 

[AR182]

AMEX loves me :0008

They love me also....but need another card when the AMEX is not accepted.

 

[marine]

hate to burst your bubbles ladies, but you are off base with your hypothesis that credit card companies hate you because you pay off your balance.

Credit card companies recieve money from the merchant every time their card is swiped through the little plastic box that you check out at. It is in a credit card company's best interest for you to have their card at the FRONT of your wallet and the card you go to when you need to make purchases every day.

CC companies will normally get a flat fee, plus a % of the sale for each transaction their card is used for.
Remember when you used to see signs at gas stations, cash price was a few points lower than the price if you paid with a CC? it wasn't just because they had to print off that little slice of paper for a reciept for you. it was because that money went to the credit card company.

enough regulation has been passed through to make it unallowable for businesses to offer two different prices on items.

sorry to bust that bubble.

Also - you may notice that some places don't accept amex. that's not by chance either. Amex has higher merchant fees than visa or mastercard.. hence most business cringe when you pay with amex vice that cheap visa or mastercard.