I opened up an acct over 5 years ago after my bankruptcy, granted they were the first to give me a card however it was all a ploy for them to TRY to make me maintain bad/no credit. For 5 years they did not increase my limit, it stayed at 500.00.
During the course of the 5 yrs i used the automated request for a limit increase and was denied. About 2 months ago i called in and spoke with someone to request a credit limit increase and again i was denied. I asked why and was told that "YOU DON'T SPEND ENOUGH" now i could have hit the floor. Now i advised him that if my limit is only 500.00 how much do u all think i'm suppose to be spending. But this is what i mean when i say "they are trying to make me/us have bad/no credit. With that kind of limit i should not spend no more than 175.00 at a time.
So at that point i closed my account with them. I just have had enough. About a month prev i had them drop my interest rate from 18% to 14%. As if that still isnt high enough, after i closed my acct they increased my interest rate to 15%. How the hell can that be done on a closed account. As well still tacking on interest... I need to know am i liable by law to pay the interest on this balance even though i am not using this card and the account is closed? Also i would like to know if they are permitted by law to increase my interest rate on a closed account... Capital one SUCKS!
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