Help Capital One Increase APR

tetley

no problem,good thats sorted :T

thehippo_2

Letter today says my rate is going up from 14.8 to 22.88 variable for purchases!
That's some increase by any standards!

It seems that you can continue to pay off your account at the old rate providing you call them first by 20th Feb and then make no new transactions.
(BTW the call costs to do this are 7p connection fee plus up to 2p a minute from BT Line. That sounds like a nice little earner...)

Personally, I'd get a loan and pay it off and tell them to shove it where the sun don't shine!

wr1ght

and me mines going up to 34.94 % i have never spent on it and nor will i at that rate.

clearing_out_my_pockets

Odd. My account (platinum) has had the APR reduced

Wannabedebtfree

I've had the same letter, can't remember what the new APR was but definitely over 30%.

I rang them and told them I've shredded the card and have opted for option 2, rate stays the same and I close the account once it's clear. He asked me why I was choosing that option and I replied "I haven't the money to clear it now and I feel so sorry for your company now it's costing you more money to lend to us poor people!" :rolleyes:

Just a small step closer to being DF!

TheExpert

thehippo wrote: »

Letter today says my rate is going up from 14.8 to 22.88 variable for purchases!
That's some increase by any standards!

It seems that you can continue to pay off your account at the old rate providing you call them first by 20th Feb and then make no new transactions.
(BTW the call costs to do this are 7p connection fee plus up to 2p a minute from BT Line. That sounds like a nice little earner...)

Personally, I'd get a loan and pay it off and tell them to shove it where the sun don't shine!

tetley wrote:

A friend of mine has just got a similar letter from capitalone ( today),but his a.p.r has gone up to 32.81% :eek: :mad: from 14.9% due to the current credit environment,off course he is a valued customer blah blah blah.
Anyway he has just done a balance transfer to mbna for 0% for 6 months then 14%.
so up yours capital one

You guys sure about your starting and ending APRs? Seems like they applied really weird increases!

janie63

Yup just got the identical letter.................

TheExpert

janie63 wrote: »

Yup just got the identical letter.................

What did they change your APR from and to?

janie63

31.77 %p.a variable for purchases, 29.75% p.a variable for balance transfers and 30.80% p.a variable for cash withdrawals.- can't find what they are currently......................

Lois_and_CK

Do you think other credit card companies will give us the same option - to pay off the cards on the old rate so long as we don't spend on them?

I had the letter too - 18% to 26%.