My credit score 758. My Capital One CC went from 6.49% to 15.99%. No late payments.

[L0oniX]

Yep. Been reading about it happening to others here but didn't think it would happen to me with a credit score of 758. What they don't know is that I always have enough money in my checking account to pay off all my CC debt at anytime. You can bet that Capital One will be paid off and the card will go into the CO folder and sit idle forever.

Hey congress ...how that bail out working for ya?

Hey Capital One ...look at what I have in my wallet...

[ixion]

1. yeah, I'm in the 750's, too... and Citibank et. al. have raised rates

along with the utility companies.

[L0oniX]

3. Raising them is one thing. Going from 6.49 to 15.99 is loan sharking.

[smoogatz]

2. You and a hell of a lot of other people.

They're basically killing the revolving-credit goose in the interest of short-term profit, and taking the rest of the economy down with them. You can't have a debt-driven economy very long if no one can pay the interest on that debt. This is what deregulation of the credit card industry has done for us.

On edit: we've gone 100% to debit cards, and keep a CC only for emergencies and travel stuff like car rentals, where debit cards aren't accepted. We have zero revolving debt.

[L0oniX]

5. Ah yes ...the gift that keeps on giving from Phil Gramm n/t

[ecstatic]

4. I have a similar story with BoA. When I called them on it they

tried to act like it had been that way all along and insulted my intelligence. I told them lower it back or I'm moving on. They didn't, so I did.

[L0oniX]

7. I dumped them 2 years ago because they wouldn't lower the rate like my other cards had.

Nasty bastards. I also closed a checking account with them. I'll never do business with them again.

[county worker]

6. Here's the rub.

People with lower credit scores have always paid excessively high rates so it isn't a shock to them to see you join the crowd. They also didn't lose as much in the market because they didn't have any excess cash to invest.

What this poor economy is doing is making us all a little more even financially! We've been down so long bottom looks like up!

[terisan]

8. Your credit score is so good they figured you could give them more money. nt

[L0oniX]

12. Well they can have my automatic Vonage monthly bill charge. n/t

[LiberalEsto]

9. Look for a credit union.

I switched to one for banking and credit cards last year. The only requirement was that I live or work in my home county. Credit card interest rate is a steady 9.9%.


Try this:
http://www.creditunion.coop/cu_locator/index.html

[L0oniX]

10. I still have 3 CC's with lower rates than that n/t

[Warpy]

11. This will happen across the board

and if you didn't have a great payment history, you could expect a rate in the high 20s or even 30s.

Banks are desperate for assets right now, bailout and all. Jacking up card rates is only the first salvo. They'll be calling loans later.

(Love the crowd giving the one finger salute)

[marshall]

13. Pay it off every month, then it won't make any difference.

That's what I do.

[L0oniX]

15. I just payed it off. n/t

[elocs]

14. My credit score is nearly exactly the same as yours and I have Capital One also.

A few months ago my interest rate dropped from 7.75% to 6.67%. I just got my bill, so before I typed this post I checked and to my amazement it says my APR is now 4.90%. Don't know why, don't know how, but I'll take it.

[L0oniX]

16. No rhyme or reason to it I guess. n/t

[jsamuel]

17. Same thing happened to me and my wife, but not with Capital One, but with Chase

[L0oniX]

20. I have a fixed rate 7.9% with Chase. They better not try to change that or I'll pay off that one...

too and it will sit idle forever. I never needed CC's except to build a credit score so I could buy a house which I did and my mortgage is now paid off too.

[Barack_America]

18. My Citicard rate doubled. Also no late payments.

But they also give me waayyy more credit than I should get based on my income.

Solution? Keep a low balance so the increased rates don't mean shit, while keeping the card open with that fat line of credit raising my credit score.

Same deal with BoA. They've now rescheduled my payment due date to the beginning of the month, trying to trap me into a late payment. They've also got me scheduled for two due dates in the same month a couple of times this year. But they've given me an even crazier line of credit, so I'll play ball for now.

[hunter]

19. Maybe they know something you don't...

I'd be worried about my job or my health.

:yoiks:

[L0oniX]

22. Job is totally secure and I never had a serious health problem. n/t

[Sen. Walter Sobchak]

21. atleast I know why it happened to me - universal default

A collection agency says I owe AT&T money, AT&T says I don't owe them anything except "another opportunity to earn my business" (AT&T canceled my cellular service because their coverage was so bad I was always roaming on T-Mobile),

I have no debt and can't find the time to care enough to fight it.