Capital One - "no interest rate decrease ever"?

circuit

has anyone had a credit limit reduced by capital one?

i have a card with £1000 limit and 29.9% apr, which i am using for bouncing debt and generally rebuilding my rating. i always pay it off.

nontheless i asked about reducing the limit and was told:

"Because your APR was calculated only when you opened your account, it will always remainthe same rate. Please refer to your EIR to understand your interest rate."

is this definitely the case?

nomoneytoday

I'll wager they offer to reduce it when you wanna close the account

Andybez38

I asked capital one for an intrest rate reduction after havin the 29.9%apr card for 16 months, they told me they couldn't reduce the rate and told me to close the account and apply for one or their lower rate cards. I closed the account but never bothered applying.