CAP ONE RATEJACK

[Anonymous]

Went to 17.90%. OMG!!!! I'm carrying a balance for the first time. 

Guess I'll have to pif.  Anyone else have this happen?

[DI]

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@Anonymous wrote:

Went to 17.90%. OMG!!!! I'm carrying a balance for the first time. 

Guess I'll have to pif.  Anyone else have this happen?

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I noticed mines sittting at the rate too. But I never carry a balance.  The lowest it ever been was 10.90 back in 2007.  

[Anonymous]

Di--Do you mean the 17.9?

[GregB]

They just RJed me from 5.99% to 15.9%. I was shocked. They claim they sent me a letter last year saying that there were new terms effective February, 2010. Interesting thing is that they did send me new terms on my CapOne Business account saying there was a rate change from 9.99% to 17.9% effective September, 2011 which was more than two years after the date of the letter.

The RJ on my Cap One personal takes it from my lowest regular interest rate to my highest on a non-store card.

In the last 60 days I used the 5.99% to pay off a 10% private money loan that didn't appear on my reports in order to save interest. I also paid the 9.99% CapOneBus to $0 to eliminate my other high interest loan. At least I won't have to pay a fee to use one of their checks out of the 9.99% account to get me back to where I was, paying 10% on the money owed.

[DI]

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@Anonymous wrote:
Di--Do you mean the 17.9?

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Yes, I'm currently at the 17.9 APR.  I'm not sure how long its been at that rate. I wouldn't consider it a RJ because the rates with Cap One always fluctuate. 

[score_building]

casinoannie97 wrote:

Went to 17.90%. OMG!!!! I'm carrying a balance for the first time. 

Guess I'll have to pif.  Anyone else have this happen?

yes 11.xx >>> 17.xx

I placed them in the SD for taking this adverse action.

Dl- As you know, all issuers' rates fluctuate from time to time, cap1 is no different than others in that regard.

[laz98]

mine went from 7.9 to 14.9 a while back

[Romeoo47]

I haven't carried a balance on my "former" CAP 1 card for 2 years.  And my APR has been ratejacked several times.  I finally closed the card last week after they refused to waive the AF. 

[Romeoo47]

Oh yeah and it went from something like 11 to 17.9.

[Uborrow-Upay]

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GregB wrote: 

At least I won't have to pay a fee to use one of their checks out of the 9.99% account to get me back to where I was, paying 10% on the money owed.

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I'm using a couple of those checks myself this month, and that 0% transaction fee is a key benefit of that Cap One account for me as well.

But I got ratejacked too, still not as bad as Chase.