Capital One interest rate increase

[Anonymous]

I know they base on prime interest rates, but anyelse find out that CapOne rates are going up by .25%? 

I got notice from Mint, not Capital One, that they were going up today on both my cards by .25% each. 

Just wondering if anyone else got notice since I suspect this is due to interest rates going up in general right now.

[gdale6]

The Fed raised interest rates 25 basis points earlier this month so it makes sense they would raise the rate, its going to affect just about everyones cards.

[Gregory1776]

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@gdale6wrote:

The Fed raised interest rates 25 basis points earlier this month so it makes sense they would raise the rate, its going to affect just about everyones cards.

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Yea, noticed on my PCR yesterday. 😥

[UpperNwGuy]

Both Navy Federal and PenFed have recently increased interest rates on most of their cards.  No special notice was given.  I think that's because the interest rate in the terms and conditions is described as "prime plus x percent", so as far as the credit unions are concerned, they didn't change any terms and conditions.

[Anonymous]

While I haven't looked, I'm certain the APR's on my cards have been changed as a result of the Fed's recent action. In all candor, though, I'm not that bothered since whatever balances I'm carrying at the moment are so small that the interest charge is only going up by a few cents a month. (Another good argument for keeping utilization low not just across your cards but on each individual card!)