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Have you had a rate increase on cc lately?


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In the past month or so Cap One informed me that my rate was being increased from 12.99% to 19.99% because..... (drum roll please), "we haven't raised your rate in a long time". Fortunately I was able to bt the balance to another account.

Then I found a thread here where a Wamu account had their account rate jacked.

Please report any other rate increases you have found.

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Don't get me started on Cap One. $500 CL for past 16 months, no CLI. APR at 19.9%, but I've never actually paid any interest as far as I know. I always PIF, and I've never had the util high. Which is why I prob still at $500. Spoke with CSR about the CL and the APR, and was told it was the best they could offer at this time. So I politely told him The best I could offer was not to use the card until I get an increase.

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When your credit is poor, you just have to deal with it. When you get better credit, you tell them "Fix the rate" or "bye-bye".

Credit cards are a convenience and a method of building credit. If you base any financial decisions on them, you will get burned at some point.

-r

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When your credit is poor, you just have to deal with it. When you get better credit, you tell them "Fix the rate" or "bye-bye".

My EQ Fico the month this was mailed out was 730. The only reason I don't close the account is it is my oldest account and utilization.

I just called Cap One, the retention rep said this was a "blanket" decision. They did offer to lower my rate back to 12.99, but this would no longer be a fixed rate as I had previously. I declined the offer. But he did refund me my annual fee that had already been paid in July.

I declined the offer and told them I would still consider using the special interest rate checks mailed to me.

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My EQ Fico the month this was mailed out was 730. The only reason I don't close the account is it is my oldest account and utilization.

Screw that! The whole prupose of getting better credit is to improve your life. Apply for some better cards and kiss CapOne goodbye. You'll still have the history on your CR.

-r

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