capital one credit card

ihendo

I have a capital one credit card with £6000 balance and few months ago I was paying £185 minimum payment each month, now its £110 but I don't know why. Can anyone advise? It's not PPI as I have never taken out insurance with any credit cards or loans.

[Deleted User]

Declining balance?

YorkshireBoy

Looks like they've changed the way they calculate it. This will have been notified by letter/e-mail, notice of variation, or message on a statement.

Previously you were paying 3%, but now it looks like the more usual 1% plus interest.

But...are you saying you now only pay £110, or have you left it at £185 (by making an additional payment if the minimum is collected by DD)? If you're now paying £110 that's a bad move!

ihendo

Unfortunately due to circumstances since then I have welcomed the reduction but yes you are right not a good move. I hoped it would be some sort of insurance reduction that I wasn't aware of. I had a ppi reclaim company telling me Capital One had built in insurance that customers werent aware of so hoped would be that.

planteria

can you confirm whether they are right, or whether they are telling you that so that you will appoint them to claim on your behalf?