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  • FIRST POST
    • Former MSE Wendy
    • By Former MSE Wendy 28th Oct 09, 1:29 PM
    • 868Posts
    • 1,782Thanks
    Former MSE Wendy
    Has Capital One increased the interest rate of your Credit Card? Please let us know
    • #1
    • 28th Oct 09, 1:29 PM
    Has Capital One increased the interest rate of your Credit Card? Please let us know 28th Oct 09 at 1:29 PM
    Capital One is currently writing to some of its customers with details of interest rate rises to come into effect in December?

    Have you had one? If so, please report your old and new rates below (and let us know what type of user you are and which card you've got).

    eg Card: Classic
    Old Rate: 30.9%
    New Rate: 34.9%
    Type of customer: Don't use the card anymore, have a balance on the card, pay off the card in full each month

    Thanks all

    This Forum Tip was included in MoneySavingExpert's weekly email

    Don't miss out on new deals, loopholes, and vouchers

    Last edited by Former MSE Dan; 03-11-2009 at 8:24 PM.
Page 1
  • woody01
    • #2
    • 28th Oct 09, 2:24 PM
    • #2
    • 28th Oct 09, 2:24 PM
    Nope.
    Its gone down (Platinum)
  • finshe
    • #3
    • 28th Oct 09, 2:28 PM
    • #3
    • 28th Oct 09, 2:28 PM
    I got the letter too, they say i can contact them if i want to stay on the previous rate.
  • mrburns
    • #4
    • 28th Oct 09, 2:41 PM
    • #4
    • 28th Oct 09, 2:41 PM
    Classic

    Old rate : 30%

    New rate: 39%

    Lost the letter so can't be sure of exact rate but it was at least 9% it went up.
    • PROLIANT
    • By PROLIANT 28th Oct 09, 3:07 PM
    • 6,045 Posts
    • 5,599 Thanks
    PROLIANT
    • #5
    • 28th Oct 09, 3:07 PM
    • #5
    • 28th Oct 09, 3:07 PM
    Classic Visa

    Old APR @ 30.04%
    New APR @ 39.9%

    I will be taking out a loan to clear my debts in Early 2010 and closing my Subprime Credit Card accounts.
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
    • bingy_burge
    • By bingy_burge 28th Oct 09, 3:27 PM
    • 613 Posts
    • 135 Thanks
    bingy_burge
    • #6
    • 28th Oct 09, 3:27 PM
    • #6
    • 28th Oct 09, 3:27 PM
    Classic Visa

    Old APR @ 30.04%
    New APR @ 39.9%

    I will be taking out a loan to clear my debts in Early 2010 and closing my Subprime Credit Card accounts.
    Originally posted by PROLIANT
    Did you not follow martin's advice and only put on a sub prime card what you can afford to clear each month?

    Have you got debt on these cards?
  • blue35
    • #7
    • 28th Oct 09, 4:09 PM
    • #7
    • 28th Oct 09, 4:09 PM
    Both me and my partner had a letter - 30% up to 34% for both of us.I pay mine in full every month. Its a Classic visa with a 500.00 limit.
    • PROLIANT
    • By PROLIANT 28th Oct 09, 4:23 PM
    • 6,045 Posts
    • 5,599 Thanks
    PROLIANT
    • #8
    • 28th Oct 09, 4:23 PM
    • #8
    • 28th Oct 09, 4:23 PM
    Did you not follow martin's advice and only put on a sub prime card what you can afford to clear each month?

    Have you got debt on these cards?
    Originally posted by bingy_burge
    I have about £450 on the card at the moment.
    I have hit a few cash-flow issues as of late and was unable to transfer the debt to a mainstream card due to a low credit score, nothing bad just too many searches in a short period of time.
    My last search was in September this year so will wait until late March before I apply for another card/loan.
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
    • exel1966
    • By exel1966 28th Oct 09, 4:34 PM
    • 4,815 Posts
    • 11,861 Thanks
    exel1966
    • #9
    • 28th Oct 09, 4:34 PM
    • #9
    • 28th Oct 09, 4:34 PM
    Card : Platinum Mastercard

    Old Rate Purchases: 9.510%
    New Rate Purchases: 16.94%

    Old Rate Cash : 23.29%
    New Rate Cash : 32.94%

    TYPE : Card never used 0.01 in credit. Account left open only to gain access to FREE Credit file alerts/2 FREE annual credit reports with Equifax. If that ceases then the account gets closed. Simples !
  • Sweetsyd
    My rate was increased from 12.5% to 22% in the last round of increases and to be honest it was the best thing to happen to me! I agreed to remain on the old rate, but make no further purchases. It doesn't half concentrate your mind and I'm paying it off in pretty nice chunks. I plan to keep my other cc going but for emergencies only.
  • londonuk2008
    I have had the classic card for two years , my APR has gone from 30% upto 39% - but to be honest I pay the balance off every month so it won't affect me.
  • izools
    Mother has Cap 1 Classic. Had it for 9 years, occasional use, sometimes paid in full, sometimes spread over six to nine months, not been used for about nine months at the moment.

    Zero balance, 1000 limit, no instances of overlimit or late in the 9+ years the account has been open.

    Old Rate 29.9%

    New Rate 38.9%

    Response? Closed.
    Cashback Earned Nectar Points 68 Natoinwide Select 62 Aqua Reward 100 Amex Platinum 48
  • LITTLEMISSDEBT
    Claasic Capital One
    Hi

    I have the classic card.

    BT on it for 6000 that I have been paying off for a yr. Don't use the card and rates have changed from 9.9% to 17.9%!!!

    Raging!
  • sde
    Platinum card. rate going up from 11% to 18.75%. Paying off the balance and only keeping the card for major emergencies in future
  • jay87
    Yeah i've had a rate rise;

    Capital One Classic

    Old Rate : 34.9%
    New Rate : 39.9%
    Limit : 1100

    I never pay interest on the card so hasn't effected me, i've cancelled the card anyway though as don't fancy paying that amount of interest if my circumstances mean i ever have to!

    Jake x
    • milliemonster
    • By milliemonster 28th Oct 09, 10:05 PM
    • 3,626 Posts
    • 6,279 Thanks
    milliemonster
    I have a Capital One Premier card which has been unused for a number of years, I phoned them a few months ago to close the acount but they offered me a life of balance transfer at 6.5% so I decided to do a BT from one of my higher cards with a view to paying it off. I asked them not to send me a new card as I didn't want to use it for purchases.

    I have made 3 monthly payments since the BT took place and received a letter last week saying my rate was being increased to 13.7% for the BT, 17.9% for purchases, or I could opt out by phoning them by the end of November and closing the account.

    I phoned them disgusted that they had told me it was a life of balance deal which they went very quiet on and couldn't give me an answer.

    When I told them I wanted to opt out, they tried to persuade me to stay saying it was ONLY a 7% increase and over the course of a year it was less than 1% a month, but I still declined.

    I am not happy
    • Mrs_Ryan
    • By Mrs_Ryan 29th Oct 09, 12:31 AM
    • 11,113 Posts
    • 21,026 Thanks
    Mrs_Ryan
    Mine is still at 34.9, although it is a very new card. Cleared in full via DD each month and then maxed out again by the time the next payment is due!
    Open University 2:1 Graduate 2017; MA graduate DMU 2019- MERIT!! Round 2 OU 2018- BSc Combined STEM (Sports Psychology) Year 1 PASS! E117 &DE100. Year 2- K220 & E235.
    Got Engaged 02/10/2018 Civil Partnership 15/02/20
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    Elle
  • mrbigd
    Platinum
    Old 14.88%
    New 22%

    Rejected increase and have about 3K in card which we are quickly clearing.
    • INT1
    • By INT1 29th Oct 09, 9:39 AM
    • 1,247 Posts
    • 635 Thanks
    INT1
    Yes
    World Mastercard which I think has now been re branded

    Old rate 15.9%

    New rate 23.9%

    Oh and I settle in full everymonth so why would I be a risk?! I escalated a complaint and got no where.
    • duggie1982
    • By duggie1982 29th Oct 09, 10:35 AM
    • 699 Posts
    • 362 Thanks
    duggie1982
    I have had the classic card for two years , my APR has gone from 30% upto 39% - but to be honest I pay the balance off every month so it won't affect me.
    Originally posted by londonuk2008
    Mines was the same rate increase. I also pay my balance off in full every month. Just as well I only use it for the green zero's.
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