Capital One APR increase

[jacetx]

Well I guess Capital One jumped in the .25% fed rate increase bandwagon. Both Ventures APRs went from 17.9% to 18.15%.

[gibeon]

Did they notify you by email or SM, or did you find it on your own.

I only use my Cap One cards for subscription stuff, and they're on auto-pay, so I almost never log in.

Thanks,
Gib

[jacetx]

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@gibeon wrote:
Did they notify you by email or SM, or did you find it on your own.

I only use my Cap One cards for subscription stuff, and they're on auto-pay, so I almost never log in.

Thanks,
Gib

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No notice. I just found out looking at my statement.

[Anonymous]

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@jace8602 wrote:

Well I guess Capital One jumped in the .25% fed rate increase bandwagon. Both Ventures APRs went from 17.9% to 18.15%.

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It the rate hike, it was bound to happen t some point...

[takeshi74]

Shouldn't be surprising given:

https://www.capitalone.com/credit-cards/venture/

This APR will vary with the market based on the Prime Rate.

[Anonymous]

Yeah my QS1 went from 9.8% to 10.13% and my V1 22.9% to 23.15 

[jacetx]

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@takeshi74 wrote:

Shouldn't be surprising given:

https://www.capitalone.com/credit-cards/venture/

This APR will vary with the market based on the Prime Rate.

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Never said it was surprising, just that they seem late to the rate increase party. Most big banks did it immediately, even my credit union made the change before Capital One  did. 

[Turbobuick]

The current interest rates charged on some cards are borderline criminal. Most have variable rates based on prime. In the past cards had rates like prime + 5%. Prime has been historically low for 7 years, hence current cards are something like prime + 15% or more.

Wait til prime hits 8-10% again... and it will. These cards will have rates of 25-30% for folks with good credit. Ridiculous.  

Obviously, the only way to beat these crooks is not to carry a balance. 

[gingerflower]

Yup, I to was surprised. Called and ask for lower Apr and was told No! So I transferred all two cards to my lower Apr card. No bal on venture so into sock drawer.

[degs138]

I could care less, I never carry a balance unless I have 0 apr.