Capital One Classic Card - Dropped Interest Rate!

skyrider007

Up on inspecting my statement I have noticed that Capital One has reduced the interest rate of my Classic card from 34.9% to 28.00%.

A message to Capital One Classic Card holders: if you manage your account well, they will give you higher limit and reduce your interest rate!

Ofcourse I won't be carrying balance on this card (it is set to be paid via Direct Debit in full anyway) but the lower the rate the better!

DeltaDawn

My MasterCard is paid in full every month, but I have recently received a letter from them, saying that interest is to be paid on all purchases I make on the card.

Somebody recommended Capital One.
Do you have to pay interest on purchases made on your card?

PROLIANT

skyrider007 wrote: »

Up on inspecting my statement I have noticed that Capital One has reduced the interest rate of my Classic card from 34.9% to 28.00%.

A message to Capital One Classic Card holders: if you manage your account well, they will give you higher limit and reduce your interest rate!

Ofcourse I won't be carrying balance on this card (it is set to be paid via Direct Debit in full anyway) but the lower the rate the better!

Yea, they reduced mine from 34.9% to 30.00% last month, credit limit is stuck @ £500 though.

clio

MR P how long you had your Cap 1 card m8, if skyrider has had his longer perhaps your limit will be raised shortly.
If he has had it less than you your f00keeeed ....

skyrider007

I've had my card since November 2007. Limit upped to £1,500 in February 2008 and interest rate dropped this month. Great service!

Tori_Bellatrix

I've had my Cap 1 card since Sept 07 and only got £300 limit and that's with a £200 increase. I don't have any adverse credit.

Halifax gave me £1000 straight off ....

PROLIANT

clio wrote: »

MR P how long you had your Cap 1 card m8, if skyrider has had his longer perhaps your limit will be raised shortly.
If he has had it less than you your f00keeeed ....

Hallo, had my Cap 1 Visa since July 2007, started @ £200 then went up to £500 a couple of months dafter.

clio

P:
Your due another rise then i reckon, Pints are on you lol Bigg Market here we comeeeeeeeeeeeeeeeeeeeee

jimpix12

DeltaDawn wrote: »

My MasterCard is paid in full every month, but I have recently received a letter from them, saying that interest is to be paid on all purchases I make on the card.

Somebody recommended Capital One.
Do you have to pay interest on purchases made on your card?

Just a question, I've opted to pay by Direct Debit.. When is that set to go out?

I was told by the clerk it was the 25th of every month, but what happens if I spend money on it in the period thereafter up to the end of the month? Or does that continue over to next month automatically?

Volcane

spunko2010 wrote: »

Just a question, I've opted to pay by Direct Debit.. When is that set to go out?

I was told by the clerk it was the 25th of every month, but what happens if I spend money on it in the period thereafter up to the end of the month? Or does that continue over to next month automatically?

Yes it does.

Chrysalis

mine is quoted as this on my last statement.

Purchase Interest 30.340%
Cash Withdrawal Interest 30.340%

I think it started at 34.9% so has dropped, although I am paying full each month so isnt applicable at the moment. I am hoping my limit doesnt get raised again as its a way to get trapped having large limits available.