Capital One
High Interest Rates

With the way the economy is right now you would like that these credit card companies, all of them, would not raise their rates to 24.95% and higher. People are struggling to pay their bills and keep their heads above water and this is what they are doing. One would think that these companies would have some compasion for people who have lost their jobs and work with them so they can pay their bills off. But instead the opposite. They have raised the interest rates so high that many people are just saying who cares and filing bankruptcy to get rid of the credit card debt. I have written hardship letters to these people at Capital One showing them my financial status and asking them to please lower the rates back down to what they were originally so I can pay the debt off. Their reply was that I accepted the contract with them for whatever the rates were. I could cancel the cards and pay off the debt; use the cards until the term was up and pay off the debt; or legal action would be taken. I am just trying to protect my credit that I have built up and want to pay these people off but they are making it impossible for me to do so. Why can't they just decrease the interest rates and when the economy is back on its feet again raise it to where they want and then I can decide whether I want to keep them? Is everyone getting so greedy out there that they don't care about anything except the almighty dollar in their pocket!

Company: Capital One
Country: USA

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