Capital One
Fixed 12% rate changed to variable 22.9% despite good payment history

As with many other people (as can be seen on this website and others), I too received a mailing, very generic looking that only through luck I happened to open and read. The mailing is a Notice of Changes in Terms and advises that your interest rate is being changed - in my case from a fixed rate of 12% to a variable rate of 22.9%!!

When I called Capital One, I spoke to a very nice young man by the name of JD who stated he does not know how Capital One chose the accounts to make changes to but that I should not view the change as being penalized!

I thanked JD and then promptly closed my account. Everyone recognizes the economy is hurting but punishing those of us that have maintained a positive payment history for several years is not the way to improve conditions. One would think this company would strive to maintain relations during our economic crunch - especially when there are businesses by the dozen vying for our patronage!

I will no longer give my business voluntarily to Capital One! An increase such as the one they are forcing on their loyal and good customers is not a fair business practice and if ALL customers would respond the same we might be able to force change!

Company: Capital One
Country: USA
State: Utah
City: Salt Lake City
Address: PO Box 30285
Phone: 8002310789

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