Comments on: Is Capital One Raising Interest Rates? http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/ The Balance Transfer Credit Card Resource Fri, 20 Nov 2009 16:06:44 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: David from Minnesota http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-6212 David from Minnesota Thu, 22 Oct 2009 17:19:43 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-6212 Most consumer got rate hikes last spring, now the second wave is coming through. Ironically I just had my credit limit doubled and have had same card with CapitolOne for over 10 years. Just this week they are adding an additional 7% to the rate now at 17.9% to 24.9% in December. Good thing I dont use that card and will never in the future either. Most consumer got rate hikes last spring, now the second wave is coming through. Ironically I just had my credit limit doubled and have had same card with CapitolOne for over 10 years. Just this week they are adding an additional 7% to the rate now at 17.9% to 24.9% in December. Good thing I dont use that card and will never in the future either.

]]> By: CH http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-6037 CH Thu, 03 Sep 2009 19:18:40 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-6037 It is time we start an email trail like the one that got started to boycott gas on one day that hit the gas stations for around a billion dollars in one day. And it is time to start an email trail letter to Mr. Obama. Juniper screwed me with over 10% increase in rates for no reason. Chase screwed me by lowering my credit limits by enough to take my debt to limit form 60 percent range to 98 percent range (so did Juniper) I have no capital one card for all the reasons mentioned in this trail. Who wants to start the email trail? It is time we start an email trail like the one that got started to boycott gas on one day that hit the gas stations for around a billion dollars in one day. And it is time to start an email trail letter to Mr. Obama. Juniper screwed me with over 10% increase in rates for no reason. Chase screwed me by lowering my credit limits by enough to take my debt to limit form 60 percent range to 98 percent range (so did Juniper) I have no capital one card for all the reasons mentioned in this trail. Who wants to start the email trail?

]]> By: Chris Langerud http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-6029 Chris Langerud Tue, 01 Sep 2009 05:51:06 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-6029 I've already filed complaints with both my state senators as well and the senators from Delaware, all of which voted in favor of H.R 627, and have also filed complaints with the Attorney General of NC, as well ass the BBB and the FTC. While they may be following the letter of the law, the are trampling all over the spirit of it.. I’ve already filed complaints with both my state senators as well and the senators from Delaware, all of which voted in favor of H.R 627, and have also filed complaints with the Attorney General of NC, as well ass the BBB and the FTC.

While they may be following the letter of the law, the are trampling all over the spirit of it..

]]> By: Chris Langerud http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-6028 Chris Langerud Tue, 01 Sep 2009 05:48:15 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-6028 Got a letter in the mail today. My juniper mastercard rate will be going from 7.99% fixed to 12.99% variable. I've never been late, never missed a payment, and always keep a balance lower than 20% of the limit.. Called customer service and was informed it was an across the board rate increase and was affecting 5.5 million of their customers.. The rep even informed me that this rate increase was a direct reaction to the passing of H.R. 627. Effectively telling me that it'll be illegal soon so they have to do it now.. Got a letter in the mail today. My juniper mastercard rate will be going from 7.99% fixed to 12.99% variable. I’ve never been late, never missed a payment, and always keep a balance lower than 20% of the limit.. Called customer service and was informed it was an across the board rate increase and was affecting 5.5 million of their customers.. The rep even informed me that this rate increase was a direct reaction to the passing of H.R. 627. Effectively telling me that it’ll be illegal soon so they have to do it now..

]]> By: Balance Transfers Helper http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-6007 Balance Transfers Helper Wed, 26 Aug 2009 13:51:31 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-6007 Hope you chose the opt out or have a low balance. Might be time to get a new <a href="http://www.smartbalancetransfers.com" rel="nofollow">credit card</a> Hope you chose the opt out or have a low balance. Might be time to get a new credit card

]]> By: Balance Transfers Helper http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-6006 Balance Transfers Helper Wed, 26 Aug 2009 13:50:09 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-6006 A lot of people missed the Capital One notices. I swear they must have been disguised as junk mail. Have you tried to negotiate with them? Its seems really unfair to get charged an extra $2000 a year in interest, especially if you are just using the card to pay down balances. A lot of people missed the Capital One notices. I swear they must have been disguised as junk mail. Have you tried to negotiate with them? Its seems really unfair to get charged an extra $2000 a year in interest, especially if you are just using the card to pay down balances.

]]> By: Jeff T http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-6001 Jeff T Tue, 25 Aug 2009 00:35:47 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-6001 Just opened a Capital One statement and was shocked to see that my 4.99% "Fixed for the Life of the Account" rate had skyrocketed to 14.9%! Never late on a payment. I called and was informed that there was a notice of increase mailed in February and that nothing could be done now. I had an balance of about $21,000 on the card. I certainly would have opted out had I received the notice (or noticed the notice, as the case may be). I looked at previous statements and there was no reference to the pending rate increase - seems like a common sense thing to mention on an account statement, yes? So, it appears that over the past 3 months I have paid about a $480 extra in interest before I even figured out what was going on (spouse pays the bills). I will never use a Capital One card again. Moreover, I will actively support regulatory reform - something I never would have been inclined to do. Just opened a Capital One statement and was shocked to see that my 4.99% “Fixed for the Life of the Account” rate had skyrocketed to 14.9%! Never late on a payment. I called and was informed that there was a notice of increase mailed in February and that nothing could be done now. I had an balance of about $21,000 on the card. I certainly would have opted out had I received the notice (or noticed the notice, as the case may be). I looked at previous statements and there was no reference to the pending rate increase – seems like a common sense thing to mention on an account statement, yes? So, it appears that over the past 3 months I have paid about a $480 extra in interest before I even figured out what was going on (spouse pays the bills). I will never use a Capital One card again. Moreover, I will actively support regulatory reform – something I never would have been inclined to do.

]]> By: Michael Forbes http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-6000 Michael Forbes Mon, 24 Aug 2009 20:12:35 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-6000 My interest rate went up in August 2009 from 11.99 to 22.99% I have had no late payments and use 1/4 of my credit limit...They gave me the option to close my account or accept the new rate...Amazing! Just in time for the new laws to take effect! My interest rate went up in August 2009 from 11.99 to 22.99% I have had no late payments and use 1/4 of my credit limit…They gave me the option to close my account or accept the new rate…Amazing! Just in time for the new laws to take effect!

]]> By: Kathy Smith http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-5988 Kathy Smith Thu, 20 Aug 2009 17:26:48 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-5988 I have a Capital One card also and had a rate of about 6%. I have been trying to pay off the balance for years and have made more than minimum payments and have never been late. But I too got a lovely notice that the rate would go up to 15.99 in August. My understanding was this would be on any new purchases and since I don't use my credit card unless it is emergency, I wasn't worried. Imagine my surprise when I opened this month's bill! Almost $40 in finance charges based on the whole balance. I was told sorry for the misinformation and then went to supervisor who told me no lower rate was available. I have top credit all my life always paid more than minimum. I guess it doesn't pay to be a good citizen! I have a Capital One card also and had a rate of about 6%. I have been trying to pay off the balance for years and have made more than minimum payments and have never been late. But I too got a lovely notice that the rate would go up to 15.99 in August. My understanding was this would be on any new purchases and since I don’t use my credit card unless it is emergency, I wasn’t worried. Imagine my surprise when I opened this month’s bill! Almost $40 in finance charges based on the whole balance. I was told sorry for the misinformation and then went to supervisor who told me no lower rate was available. I have top credit all my life always paid more than minimum. I guess it doesn’t pay to be a good citizen!

]]> By: DonnaM http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-5870 DonnaM Tue, 14 Jul 2009 19:17:23 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-5870 I, too, am appalled by how I have been treated by Capital One. They sent me a new card in April 2009 because they have found accounts to be compromised - I'm sure somewhere there was hidden agenda - no where on this card shows I have been a Cap One customer for over 10 years. My rate increased to 17.99 from 9.99. I have an excellent credit score and this is the ONLY credit card I utilize - my payment doubled. They have members by their toes - they know the common consumer can't go out there and pay it off. Treatment of consumers like this, should be illegal. Instead of Obama helping out the banks, auto dealers, why not help out the common folk who work hard for a living... doesn't go on welfare... doesn't file for bankruptcy.... those of us that want to pay their debts but don't want to work to be paying interest. This is insane! I, too, am appalled by how I have been treated by Capital One. They sent me a new card in April 2009 because they have found accounts to be compromised – I’m sure somewhere there was hidden agenda – no where on this card shows I have been a Cap One customer for over 10 years.
My rate increased to 17.99 from 9.99. I have an excellent credit score and this is the ONLY credit card I utilize – my payment doubled. They have members by their toes – they know the common consumer can’t go out there and pay it off.
Treatment of consumers like this, should be illegal. Instead of Obama helping out the banks, auto dealers, why not help out the common folk who work hard for a living… doesn’t go on welfare… doesn’t file for bankruptcy…. those of us that want to pay their debts but don’t want to work to be paying interest. This is insane!

]]> By: Nate http://www.smartbalancetransfers.com/blog/2009/03/is-capital-one-raising-interest-rates/comment-page-1/#comment-5803 Nate Mon, 29 Jun 2009 15:43:17 +0000 http://www.smartbalancetransfers.com/blog/?p=150#comment-5803 I too was betn over by Capital One. My rate went from 5.5% to 15.9% in a matter of one month. I complanied and spoke to a manager and they said there was nothing they could do. I feel I am being penalized because other can't pay their biils on time. Something needs to be done. I too was betn over by Capital One. My rate went from 5.5% to 15.9% in a matter of one month. I complanied and spoke to a manager and they said there was nothing they could do. I feel I am being penalized because other can’t pay their biils on time. Something needs to be done.

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