Anyone else's Minimum payment go up 4x?

[AI_JMV]

My latest statement from capital one sure isn't messing around.  My minimum payment is through the roof from what it normally is ($39).  I pif, but still, they are not messing around making sure they are getting paid back. 

[Gmood1]

Just checked Walmart Cap One.

Looks normal.

[Anonymous]

My latest Cap One statement still looks normal. I am carrying a balance with 0% BT.

[Jnbmom]

So does mine, never got a notice of them upping the min payment either all looks normal on my accounts.

Something seems wrong with yours?

[Guyatthebeach]

No. I just checked mine for my Savor and Walmart cards, they are the same. 

I think you may want to contact CapitalOne and inquire if a payment was missed or not posted correctly.

Guyatthebeach

[Anonymous]

I just checked and my minimum is still $25. I would definitely contact them. 

[AI_JMV]

Thanks.. yeah not sure why it is so high.  I definitely didn't miss any payments. I pay multiple times a month, so never have a balance forward. Oh well.. guess they just don't trust me? lol Seems weird. 

[sarge12]

I don't even know what my minimum payment is on any of my cards. To me, minimum payment and balance are the same thing. In the OP's case however that looks like a mistake. I am not even sure they legally can increase the minimum payment without notice in a change of terms and conditions. I am pretty sure such a drastic chang could be stopped by closing the card rather than agree to such a drastic change. I think if you did so they would have to honor the originally agreed to terms until paid in full. That is about 35 percent of the balance, so I think some keyboard warrior might have misplaced a decimal.... 3.5% maybe?  That would be my guess.

[Anonymous]

Very odd.  I would call and ask their reasoning for this.  Obviously it is related to the current economic crisis but interested to hear what they say themselves.  Some cards have decreased limits but this is the first I've seen of raising minimums. 

[Anonymous]

That's insane. I never seen anything like that with capital one. My balances are currently 0 with both capital one cards but I usually let a balance post. Keep us updated when you speak to customer service.