News

**MSE Wendy** · 28-10-2009, 1:29 PM

Capital One is currently writing to some of its customers with details of interest rate rises to come into effect in December?

Have you had one? If so, please report your old and new rates below (and let us know what type of user you are and which card you've got).

eg Card: Classic
Old Rate: 30.9%
New Rate: 34.9%
Type of customer: Don't use the card anymore, have a balance on the card, pay off the card in full each month

Thanks all

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woody01 · 28-10-2009, 2:24 PM

Nope.
Its gone down (Platinum)

finshe · 28-10-2009, 2:28 PM

I got the letter too, they say i can contact them if i want to stay on the previous rate.

mrburns · 28-10-2009, 2:41 PM

Classic

Old rate : 30%

New rate: 39%

Lost the letter so can't be sure of exact rate but it was at least 9% it went up.

PROLIANT · 28-10-2009, 3:07 PM

Classic Visa

Old APR @ 30.04%
New APR @ 39.9%

I will be taking out a loan to clear my debts in Early 2010 and closing my Subprime Credit Card accounts.

bingy_burge · 28-10-2009, 3:27 PM

Quote:

Originally Posted by PROLIANT

Classic Visa

Old APR @ 30.04%
New APR @ 39.9%

I will be taking out a loan to clear my debts in Early 2010 and closing my Subprime Credit Card accounts.

Did you not follow martin's advice and only put on a sub prime card what you can afford to clear each month?

Have you got debt on these cards?

blue35 · 28-10-2009, 4:09 PM

Both me and my partner had a letter - 30% up to 34% for both of us.I pay mine in full every month. Its a Classic visa with a £500.00 limit.

PROLIANT · 28-10-2009, 4:23 PM

Quote:

Originally Posted by bingy_burge

Did you not follow martin's advice and only put on a sub prime card what you can afford to clear each month?

Have you got debt on these cards?

I have about £450 on the card at the moment.
I have hit a few cash-flow issues as of late and was unable to transfer the debt to a mainstream card due to a low credit score, nothing bad just too many searches in a short period of time.
My last search was in September this year so will wait until late March before I apply for another card/loan.

exel1966 · 28-10-2009, 4:34 PM

Card : Platinum Mastercard

Old Rate Purchases: 9.510%
New Rate Purchases: 16.94%

Old Rate Cash : 23.29%
New Rate Cash : 32.94%

TYPE : Card never used £0.01 in credit. Account left open only to gain access to FREE Credit file alerts/2 FREE annual credit reports with Equifax. If that ceases then the account gets closed. Simples !

Sweetsyd · 28-10-2009, 4:38 PM

My rate was increased from 12.5% to 22% in the last round of increases and to be honest it was the best thing to happen to me! I agreed to remain on the old rate, but make no further purchases. It doesn't half concentrate your mind and I'm paying it off in pretty nice chunks. I plan to keep my other cc going but for emergencies only.

londonuk2008 · 28-10-2009, 6:58 PM

I have had the classic card for two years , my APR has gone from 30% upto 39% - but to be honest I pay the balance off every month so it won't affect me.

izools · 28-10-2009, 7:13 PM

Mother has Cap 1 Classic. Had it for 9 years, occasional use, sometimes paid in full, sometimes spread over six to nine months, not been used for about nine months at the moment.

Zero balance, £1000 limit, no instances of overlimit or late in the 9+ years the account has been open.

Old Rate 29.9%

New Rate 38.9%

Response? Closed.

LITTLEMISSDEBT · 28-10-2009, 9:08 PM

Hi

I have the classic card.

BT on it for £6000 that I have been paying off for a yr. Don't use the card and rates have changed from 9.9% to 17.9%!!!

Raging!

sde · 28-10-2009, 9:46 PM

Platinum card. rate going up from 11% to 18.75%. Paying off the balance and only keeping the card for major emergencies in future

jay87 · 28-10-2009, 9:56 PM

Yeah i've had a rate rise;

Capital One Classic

Old Rate : 34.9%
New Rate : 39.9%
Limit : £1100

I never pay interest on the card so hasn't effected me, i've cancelled the card anyway though as don't fancy paying that amount of interest if my circumstances mean i ever have to!

Jake x

milliemonster · 28-10-2009, 10:05 PM

I have a Capital One Premier card which has been unused for a number of years, I phoned them a few months ago to close the acount but they offered me a life of balance transfer at 6.5% so I decided to do a BT from one of my higher cards with a view to paying it off. I asked them not to send me a new card as I didn't want to use it for purchases.

I have made 3 monthly payments since the BT took place and received a letter last week saying my rate was being increased to 13.7% for the BT, 17.9% for purchases, or I could opt out by phoning them by the end of November and closing the account.

I phoned them disgusted that they had told me it was a life of balance deal which they went very quiet on and couldn't give me an answer.

When I told them I wanted to opt out, they tried to persuade me to stay saying it was ONLY a 7% increase and over the course of a year it was less than 1% a month, but I still declined.

I am not happy

Mrs_Ryan · 29-10-2009, 12:31 AM

Mine is still at 34.9, although it is a very new card. Cleared in full via DD each month and then maxed out again by the time the next payment is due!

mrbigd · 29-10-2009, 7:36 AM

Platinum
Old 14.88%
New 22%

Rejected increase and have about £3K in card which we are quickly clearing.

aldo · 29-10-2009, 9:39 AM

Yes
World Mastercard which I think has now been re branded

Old rate 15.9%

New rate 23.9%

Oh and I settle in full everymonth so why would I be a risk?! I escalated a complaint and got no where.

duggie1982 · 29-10-2009, 10:35 AM

Quote:

Originally Posted by londonuk2008

I have had the classic card for two years , my APR has gone from 30% upto 39% - but to be honest I pay the balance off every month so it won't affect me.

Mines was the same rate increase. I also pay my balance off in full every month. Just as well I only use it for the green zero's.