topic CAP ONE CHANGED MY INT. RATE in Credit Cards

CAP ONE CHANGED MY INT. RATE

Anonymous — Thu, 17 Apr 2008 11:47:26 GMT

Got my statement today and rate went down 2 points. Wonder why???????

Re: CAP ONE CHANGED MY INT. RATE

unknown_entity — Thu, 17 Apr 2008 11:51:46 GMT

Variable Rates went down because the Feds dropped the prime rate.

Re: CAP ONE CHANGED MY INT. RATE

Anonymous — Thu, 17 Apr 2008 11:52:12 GMT

casinoannie97 wrote:
Got my statement today and rate went down 2 points. Wonder why???????

The rate is probably tied to the Prime or other Federal Funds rate, and since the Fed has been cutting, the rate on your card is going down too. Viva la Fed.

Sovi

Re: CAP ONE CHANGED MY INT. RATE

Anonymous — Thu, 17 Apr 2008 11:57:40 GMT

I've had them for six years and this is first time they ever went DOWN.

Re: CAP ONE CHANGED MY INT. RATE

Anonymous — Thu, 17 Apr 2008 17:15:33 GMT

My last statement from them (with interest rate decrease) shocked me.

When I got the card, it had a paltry $300 limit, but no interest for 6 months. After 6 months, the rate was supposed to be up near 20%. But on my last statement, when the 6 months w/o interest expired, my rate was 13.74%.

Not that it makes a huge difference since I charge up maybe $280/month and PIF.

Lots of people on these boards hate Cap One, but they've been ok for me.

Re: CAP ONE CHANGED MY INT. RATE

Anonymous — Thu, 17 Apr 2008 21:10:44 GMT

I PIF ALSO. SOMETIMES I MAKE BIGGER PURCHASES FROM MY 0% acct and take two months or so to pif. never never with CAP ONE.

Re: CAP ONE CHANGED MY INT. RATE

Anonymous — Fri, 18 Apr 2008 02:51:00 GMT

I received the prime rate reductions + an additional 2.5% reduction.

Re: CAP ONE CHANGED MY INT. RATE

athensguy — Fri, 18 Apr 2008 14:33:11 GMT

Yeah, wow I just looked at my CapOne statement from yesterday.

Purchases-- $0.00-- 0.02068%L-- 7.55%-- $0.00

It was like 9.8% last time.