CapitalOne sucks!

[No DUplicitous DUpe]

Last month they offered 0% (really 3%, cause that was their fee to make the loan) for 10 months...today I received a "change of terms notice" that states beginning January 2010, their APR on the account will go up to 14.65% over prime, or 17.9% at today's current interest rates. And if I am late 3 days twice in 12 months, 26.15% over prime. And I am a customer with very good credit who has never been late on a payment.

I'll be transferring my balance and shredding their card, in the very near future.

CapitalOne, YOU SUCK!

[Critters2]

1. I got a change of terms notice from Capital One Auto Finance

sent out the day after I paid off my car loan. LOL!

And yesterday, the Credit Union lady told me she could get me a good rate if I want a new car. I don't, yet, but it's good to know.


Buh-bye, Capitol One! :hi:

[No DUplicitous DUpe]

4. You said it all! Buh-bye, Capitol One! nt

[yodoobo]

22. They make changes to the -car- loan terms??

Wow.

I've seen their ads for car loans. Figures that they would have a slimey way of applying their credit card tricks to car loans.

[Critters2]

23. Yep. I thought it was a contract with a fixed rate, but no, they wanted

to change the rate. Just as I was about to pay it off anyway. And I was only late on one payment in 4 years. That was during Advent one year, and I was just very busy and forgot. And it wasn't very late. This is how they treat their good customers.

[Warpy]

2. Yeah, but THEY ALL SUCK

and they're all going to be pulling this shit and worse in the months to come.

They're getting very nervous about getting paid back. In addition, they want to encourage "deadbeats" who pay the whole balance off every month to leave ASAP.

[OKNancy]

3. I got the same one. I haven't heard any complaints about Discover

Isn't Discover just a credit card and not tied to a bank? I bet they could make some big bucks if they would offer some low and stable rates.

[Mojorabbit]

20. Discover did the same thing to me

back in the 80's recession. I have never done business with them again.

[flvegan]

5. Double check that it's Prime and not LIBOR.

[truebrit71]

6. I got a similar notice yesterday...Bunch of bastards...

...I thought you were supposed to REWARD your good customers? AS soon as it's paid off it;s getting binned...

[radfringe]

7. my partner did that last week

her rate went up despite she's on time and paying more than minimum. they hiked the rate, she called them - they wouldn't lower the rate.

she paid them off - adios

[ozu]

8. I got the same notice

Not going to bother me as I barely use that card anyways.

I'll still keep it open because closing the account would cause my percentage of balance to available revolving credit to increase, which would probably decrease my credit scores.

[No DUplicitous DUpe]

11. I'd go from "Barely" to Never....

ever use that card again.

I'm happy I'm not the only one who got their notice. :hi:

[AlCzervik]

9. they've sucked for a long time and their Vikings, that's about dead on.

[TahitiNut]

10. Does that mean ...

... I should carry their card in my FRONT pocket?? :dunce:


:hide:

[Old Codger]

12. Dumped them

About 2 months ago, then got the same stuff from Chase so dumped them too...If having less credit cards hurts my credit rating too bad,,... I refuse to be blackmailed that way.

[SOS]

13. Bernanke calls for end of deceptive practices by credit card vampires

In today's testimony Bernanke called double billing cycles "deceptive".
He said even he did not understand this scam and that deceptive practices by credit card companies should be stopped.

Hopefully the parasites at Capital One were listening.

Congress needs to authorize some of these in their new banking legislation:

[tjwash]

14. Sounds about right. Your 10 months at 0% will be up on Jan 2010.

Then they can do whatever they want. You just need to pay it off by then, or transfer the balance to a different 0% balance card right before that.

[No DUplicitous DUpe]

17. Exactly. nt

[closeupready]

15. It took you THIS long to figure that out?

??

[Stinky The Clown]

16. What een Yaw wullet?

[ejpoeta]

18. capital one is a bad apple for sure. they are one of the worst.

their commercials may be funny, but their cards suck. good riddance, i say.

[GentryDixon]

19. Go to a Credit Union.

[Best_man23]

21. I'd rather take a loan from a loan shark than Capital One

At least you know where you stand with the loan shark.

[high density]

24. So don't carry a balance?

My card company could raise the rate to 400% and I wouldn't notice. 'Default' rates have always been higher. Sen Dodd reintroduced some legislation to fight some of this credit card madness: http://ctlocalpolitics.net/2009/02/16/dodd-tackles-credit-cards-and-executive-compensation/