Has Capital One increased the interest rate of your Credit Card? Please let us know

Former_MSE_Wendy
Former_MSE_Wendy Posts: 929 Forumite
I've been Money Tipped! Newshound! PPI Party Pooper Best Buy Bear
edited 3 November 2009 at 9:24PM in Credit cards
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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Comments

  • woody01
    woody01 Posts: 1,918 Forumite
    Nope.
    Its gone down (Platinum)
  • finshe
    finshe Posts: 94 Forumite
    I got the letter too, they say i can contact them if i want to stay on the previous rate.
  • 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
    PROLIANT Posts: 6,396 Forumite
    Combo Breaker First Post
    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.
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
  • PROLIANT wrote: »
    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_2
    blue35_2 Posts: 77 Forumite
    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
    PROLIANT Posts: 6,396 Forumite
    Combo Breaker First Post
    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.
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
  • exel1966
    exel1966 Posts: 4,978 Forumite
    First Post First Anniversary Combo Breaker
    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
    Sweetsyd Posts: 53 Forumite
    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
    londonuk2008 Posts: 1,101 Forumite
    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.
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