confusing

Wannabedebtfree

clearing_out_my_pockets wrote: »

I don't think that's very helpful, to be honest. Contrary to public belief they are NOT increasing everyone's rates.

Possibly not, but what harm does it do to check the APR, especially if a few months down the line it transpires to be a "computer error".

If the amount of interest has gone down from the previous month by a considerable sum, I'd check it as they would have surely written to you about a rate change.

But there again, it's not just one company putting their rates up, not particularly helpful to their cardholders. :rolleyes:

http://www.timesonline.co.uk/tol/money/borrowing/article5606973.ece

clearing_out_my_pockets

Point taken about making sure it's not a computer error, but Cap1 (although they have been getting bad press for increasing interest rates) are assessing customers on a case-by-case basis.

The reason I say this is in my household, we have three capital one accounts; mine, my mum's and my dad's. All three are less than 5% APR having been reduced recently. All three interest rates were reduced by the same amount (1.5%) last month. It would be odd for this to be a computer error.

Wannabedebtfree

Plus the other thing that needs to be double checked is that it wasn't some sort of introductory offer.

And we'll all keep our fingers crossed that your family won't get the dreaded letters regarding interest increases.