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

izools

Mother has Cap 1 Classic. Had it for 9 years, occasional use, sometimes paid in full, sometimes spread over six to nine months, not been used for about nine months at the moment.

Zero balance, £1000 limit, no instances of overlimit or late in the 9+ years the account has been open.

Old Rate 29.9%

New Rate 38.9%

Response? Closed.

LITTLEMISSDEBT

Hi

I have the classic card.

BT on it for £6000 that I have been paying off for a yr. Don't use the card and rates have changed from 9.9% to 17.9%!!!

Raging!:eek:

sde

Platinum card. rate going up from 11% to 18.75%. Paying off the balance and only keeping the card for major emergencies in future

jay87

Yeah i've had a rate rise;

Capital One Classic

Old Rate : 34.9%
New Rate : 39.9%
Limit : £1100

I never pay interest on the card so hasn't effected me, i've cancelled the card anyway though as don't fancy paying that amount of interest if my circumstances mean i ever have to!

Jake x

milliemonster

I have a Capital One Premier card which has been unused for a number of years, I phoned them a few months ago to close the acount but they offered me a life of balance transfer at 6.5% so I decided to do a BT from one of my higher cards with a view to paying it off. I asked them not to send me a new card as I didn't want to use it for purchases.

I have made 3 monthly payments since the BT took place and received a letter last week saying my rate was being increased to 13.7% for the BT, 17.9% for purchases, or I could opt out by phoning them by the end of November and closing the account.

I phoned them disgusted that they had told me it was a life of balance deal which they went very quiet on and couldn't give me an answer.

When I told them I wanted to opt out, they tried to persuade me to stay saying it was ONLY a 7% increase and over the course of a year it was less than 1% a month, but I still declined.

I am not happy

Mrs_Ryan

Mine is still at 34.9, although it is a very new card. Cleared in full via DD each month and then maxed out again by the time the next payment is due!

mrbigd

Platinum
Old 14.88%
New 22%

Rejected increase and have about £3K in card which we are quickly clearing.

INT1

Yes
World Mastercard which I think has now been re branded

Old rate 15.9%

New rate 23.9%

Oh and I settle in full everymonth so why would I be a risk?! I escalated a complaint and got no where.

duggie1982

londonuk2008 wrote: »

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.

Mines was the same rate increase. I also pay my balance off in full every month. Just as well I only use it for the green zero's.

minxie

I received a letter stating a rate hike, i called them to so called 'opt out'. I told them it's no better than legalized extortion and i will close the account as soon as i pay it off, at the old rate. I also asked for a letter to confirm this. luckily its only a smallish balance.

I have never missed a payment or been late paying, what a way to treat customers