Capital One BIG interest rate hike

Hank_Marvin

so hax i'm paying 34.9% even though statement shows 30.340 is that right. Ive allways thought that was the case. Because working the figures out allways showed 34..%

hax_2

yes that's correct

panholio

I have politely told them what a bunch of idiots they are and cancelled my card.

I suggest that all of us do the same.

PARIS_5000

My interest rate has been increased from 30.340 to 39.94.

kindofaverage

panholio wrote: »

I have politely told them what a bunch of idiots they are and cancelled my card.

I suggest that all of us do the same.

silly question - how do you cancel your card? do you just ring and tell them? or do they want it in writing and the cards cut and sent to them?

bodeia

mine increased from 18% to 26.4% but my hubby's increased to 31.4% same card same Cap One both balances clear in full every month.

panholio

kindofaverage wrote: »

silly question - how do you cancel your card? do you just ring and tell them? or do they want it in writing and the cards cut and sent to them?

I sent them an email via the secure message centre under "account maintenence" when you log in.

I pointed out the BofE base rate etc. in my first mail. They sent me a reply saying yeah but f off. So I sent them a second reply saying close my account immediately and they sent me an email saying "we have replied". I went to log in and my account was closed! Told me to call immediately.

I called and spoke to a woman who couldn't actually speak English so I gave up.

Cut my card up and that was that.

bingy_burge

Don't understand why people are getting so upset if they have classic cards.

Martin's advice clearly says only put on it what you can afford so if you have been borrowing at 34.9 you need your bumps felt. How do these people expect to get out subprime market if they keep borrowing money at ridiculous rates.

I don't see a mass account cancel of vanquis cards some of which charge 59.9%!

If you have a classic card or vanquis chances are your sub-prime just for what you can afford each month and pay it in full that way the apr doesnt matter and its doing its job create a positive credit history.