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Frequent Contributor
Ortz33__
Posts: 286
Registered: ‎11-10-2010

Capital One Secured Interest Rate Increase (no reason)

Hi

 

I know there are a few CapOne Secured Card users roaming around here.  I was just wondering if anyone else had an Interest Rate Increase this month?  My limit is 2300 and I was increased by 2 points to 19.5%    On a Secured Card!?  Seriously? this is my money!!!!!

 

Thanks

 

John

Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Capital One Secured Interest Rate Increase (no reason)

 


Ortz33__ wrote:

Hi

 

I know there are a few CapOne Secured Card users roaming around here.  I was just wondering if anyone else had an Interest Rate Increase this month?  My limit is 2300 and I was increased by 2 points to 19.5%    On a Secured Card!?  Seriously? this is my money!!!!!

 

Thanks

 

John


 

Here is my rate on Cap 1 Secured Card CL 2500.

 

Purchases 19.80%
Cash           24.90%

 

It has been the same since the first statement in July.

Frequent Contributor
Ortz33__
Posts: 286
Registered: ‎11-10-2010

Re: Capital One Secured Interest Rate Increase (no reason)

ya. stinks. 

 

what also stinks is that my cash advance limit is only $100.  supposedly they set it at what half of your initial deposit was!!  and that will supposedly never change, according to multiple cap one reps.  hoping they give me another bump in the summer.  

Mega Contributor
Creditaddict
Posts: 16,884
Registered: ‎10-23-2007

Re: Capital One Secured Interest Rate Increase (no reason)

 


Ortz33__ wrote:

ya. stinks. 

 

what also stinks is that my cash advance limit is only $100.  supposedly they set it at what half of your initial deposit was!!  and that will supposedly never change, according to multiple cap one reps.  hoping they give me another bump in the summer.  


In my opinion a cash advance is something you NEVER take on a credit card!

 

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