capital one upped my already high apr!

xgingerx

Hi , they have told me you have to close the existing card first, wait for a letter to confirm this and then reapply.

Nice try though!!!

Thks

BONJOEY

HI XGINGERX, i just got a platinium, from classic,

i phoned up and they said they will order me new cards but they will be platnium visa card?

my apr is 15.9% anyway so now difference.

girltuesday_2

OH got the same letter - 29.9% rising to 34.9% on a £500 balance.

"your card and rates are still based against the first application"

That explains a lot - OH had an apalling credit rating at the time, but shouldn't have a big problem getting a new card now.

Taadaa

c8ndice wrote: »

I received the same letter this morning.

They are raising the interest rate after my april statement.

This is the first time this has happened since I got my card two years ago. Still it beats vanquis... They have raised my interest rate to 47% :eek:

Ohmigod....please tell us you have told them where to go?

On a serious note, I spoke to a financial advisor and he said that cc companies are going to introduce tiered interest rates alot more often in the future. So if you have a bad credit history, or you miss/are late with a payment, they will automatically but the interest rate up. The more times you can't pay, the higher the rate will get. Which of course will hit the worst off people the hardest.

I am beginning to think that ccs are the spawn of the devil.

DropDebtFred

BONJOEY wrote: »

HI XGINGERX, i just got a platinium, from classic,

i phoned up and they said they will order me new cards but they will be platnium visa card?

my apr is 15.9% anyway so now difference.

I've just called them, and been told that i have to apply in writing to change from classic to platinum? Mind you, it was speaking to one of the indian call centre people - that shouldn't make a difference, should it?

tweep

Hi all,

Four years ago my partner applied for his first credit card a capital one classic we didnt know much about credit cards it was just for the internet. He has never had bad credit, new to credit no loans ect. He applied for this as we didnt know much........jump forward 4 years it is now a capital one gold card, limit 2400 never missed a payment current balance 1400.

Does anybody know the possibility/outcome of asking to transfer from his classic card to the new platinum card without paying the balance of in full (ie) transfere the 1400 onto the platinum? or has anyone done this?

tweep x

frugalpam

Capital one sent my statements through this morning and I've counted up £240 of late payment charges, which I'm about to reclaim.
Do I send a similar letter to the bank charges one, quoting the bit about the Unfair Terms in Consumer Contracts Regulations 1999 ? Any other tips?

thanks
Pam

BONJOEY

tweep wrote: »

Hi all,

Four years ago my partner applied for his first credit card a capital one classic we didnt know much about credit cards it was just for the internet. He has never had bad credit, new to credit no loans ect. He applied for this as we didnt know much........jump forward 4 years it is now a capital one gold card, limit 2400 never missed a payment current balance 1400.

Does anybody know the possibility/outcome of asking to transfer from his classic card to the new platinum card without paying the balance of in full (ie) transfere the 1400 onto the platinum? or has anyone done this?

tweep x

what apr does he pay? at present?

Grahamo_3

Miss_H wrote: »

47%!!!! :shocked: OMG! Is that legal?

It does sound like you're borrowing from a loan shark????:eek: I would get rid of that asap


Graham

tweep

Hi Bonjoey,

We do not know I think it was reduced two years ago when it went to a silver card then Gold card. I tryed to research capital one gold card but couldnt find anything anywhere I just assumed it was a fad, I looked on his statements it doesnt say what apr it is?