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Contributor
myficomatt
Posts: 119
Registered: ‎01-03-2008
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Capital 1 Increasing Credit Rates?

I was expecting this somewhat but I've been hearing more and more people who are "prime" receiving letters of interest rate increases.  I got a letter the other day stating that because they've reviewed my credit, they're increasing my interest rate to 28% ABOVE the WSJ interest rate.  So basically over 30% lol...  Mind you, I've increased my credit scores by about 100 on each of the bureaus.  What gives?  I mean talk about excessive!
Senior Contributor
score_building
Posts: 3,560
Registered: ‎01-10-2008
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Re: Capital 1 Increasing Credit Rates?


myficomatt wrote:
I was expecting this somewhat but I've been hearing more and more people who are "prime" receiving letters of interest rate increases.  I got a letter the other day stating that because they've reviewed my credit, they're increasing my interest rate to 28% ABOVE the WSJ interest rate.  So basically over 30% lol...  Mind you, I've increased my credit scores by about 100 on each of the bureaus.  What gives?  I mean talk about excessive!

are you sure that is not the new default rate?

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