Capital One Purchase Rate Credit Card Cheques

rbulph

I've just had a letter from Capital One saying that from 20 Feb 08 they're going to start charging 3% plus 33.94% p.a. (!!!) on the lovely purchase rate credit card cheques which they've been sending me over the past few years and which I've been hoarding. For those not familiar with these cheques there were no charges associated with them - they worked like purchases. I shall miss the big chunk of free cash sitting in my bank account for 56 days out of every 60.

Capital One say the change is because they are "upgrading [their] systems". Ho ho ho!

relay

As far as i was aware they have always charged the same rate as cash withdrawal for those cheques. That's why i never use them.

Moggles_2

Originally Posted by rbulph
I've just had a letter from Capital One saying that from 20 Feb 08 they're going to start charging 3% plus 33.94% p.a. (!!!) on the lovely purchase rate credit card cheques which they've been sending me over the past few years and which I've been hoarding.

Need any help using 'em up before 20 Feb 2008? :j

rbulph

Moggles wrote: »

Need any help using 'em up before 20 Feb 2008? :j

Thanks for the offer, but I think you'd take me over my credit limit...

BernardM

rbulph wrote: »

I've just had a letter from Capital One saying that from 20 Feb 08 they're going to start charging 3% plus 33.94% p.a. (!!!) on the lovely purchase rate credit card cheques which they've been sending me over the past few years and which I've been hoarding. For those not familiar with these cheques there were no charges associated with them - they worked like purchases. I shall miss the big chunk of free cash sitting in my bank account for 56 days out of every 60.

Capital One say the change is because they are "upgrading [their] systems". Ho ho ho!

Just looked back over my Nov 07 Dec 07 spotted this in the corner of statement did not have a letter. They say 25 february and please destroy all cheques with a p , b or c.
Will they honour these cheques if you pay em in before then RBULPH.
mine are all p

BernardM

BernardM wrote: »

Just looked back over my Nov 07 Dec 07 spotted this in the corner of statement did not have a letter. They say 25 february and please destroy all cheques with a p , b or c.
Will they honour these cheques if you pay em in before then RBULPH.
mine are all p

Good news this morning A&L sent me some 0% for ten months credit card cheques.