anyone get a capital one letter today?

arknor

arknor

arknor

Caporegime
Joined
22 Nov 2005
Posts
46,812
me and my wife both got letters saying they want to rape us more :eek:

they put my wifes card upto 33% and mine upto 27.9% lol
i guess its safe to say most if not all capital one customers will be getting similar letters so it would be intresting to see what rates other people get set to.
it would love to know how they came up with these rates which are so different when neither of us have owed capital one money for over 2 years and we have made no purchases in that time if anything you would think they would be lowering the rates in an attempt to get us to spend?

neither me or the missus actually use our capital one cards so it wont effect us my wife has a fairly low lloyds tsb credit card and i have a barclays one.
 
OUCH! My Capital One card was always the lowest APR of all my cards but I cancelled it a while back anyway, simply because I don't use it. Pretty sure it was 12.9% most of the time and went up to about 16.9% just before I cancelled it.
 
arknor said:
neither of us have owed capital one money for over 2 years and we have made no purchases in that time if anything you would think they would be lowering the rates in an attempt to get us to spend?
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Sadly it doesn't work like that. By not using the card, you're costing them money but they're not making any back on you.

Hence the huge hike.

You'll find those who are responsible with their credit will get punished and those who run interest charges through the roof will most likely get the best deals to try and get them to stay.

Sucks, but that's the way it is. I'm constantly getting harassed by my bank because I don't make them any money.
 
I got a letter last week saying my account had been reviewed and due to account inactivity, my APR would be going up to 34.7%!!!

So guess what? Capital One got a letter from me yesterday! :D

I shall stick to my Barclaycard Platinum and Virgin card should I ever need them! :)
 
Whoah, my capital one is at 13.6%, or was. I wonder what it's been hiked too.

Never had any problems with them and I like their online service. Still, if its gone above 15% I will look around.
 
Got one last week, the limit is only £100 as they keep putting it down to low (nil) usage, 36% IIRC as its "costing them more to lend"
 
If you don't use the cards, I'd cancel them (or shop around). I had a Crapital One card and they royally screwed me in the wotsit one time when they promised to refund some charges then didn't. They referred me to a debt collection agency, and when I queried it with Cap One, turns out they'd 'lost' 2yrs worth of records (showing regular payments). When I started looking on sites like Consumer Action Group and MSE, there were loads of people who'd had problems.

I'm not sure how they work the interest out, TBH. There's some comments on MSE about it here.
 
neiljung said:
I don't own a credit card and never intend to. If I want something I'll save for it or be sure I have the money now.
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you can pay of the balance of your credit card in full each month, thus paying no interest, in some cases you get vouchers and stuff.

one of my friends doesnt have a credit card or overdraft either, he had no money for food the last two days, thats his lesson, now he got declined because his credit rating is nothing and he owes me money now!
 
MBNA did that to me quite a few months ago when all the proverbial started hitting the fan..
30 odd % interest :eek:
Thankfully I only had 500 or so quid in it..
 
platinum87 said:
one of my friends doesnt have a credit card or overdraft either, he had no money for food the last two days, thats his lesson, now he got declined because his credit rating is nothing and he owes me money now!
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So you would suggest that a person that demonstrably can't manage their finances get's a credit card? I don't get it.
 
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