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capital one credit card

ihendo
Posts: 6 Forumite
in Credit cards
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.
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Comments
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Declining balance?0
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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!0 -
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.0
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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?0
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