Capital One Bank
Rate raised from 9% to 21% with letter citing economic downturn

Capital One had the nerve to send out to all of it's loyal customers this ridiculous reason for it's recent rate increases, although it's not word for word since I did throw the little 'advertisement' out, it read something like this: "So, since we are in a economic downturn we are feeling the pinch and regrettably must inform our Capital One Credit card users that we must increase the percentage rate for all" So, I went from 9% on my card to a whopping 21%!!! Are these yo-yo's kidding me or what? What a bunch of B.S. That is, do they really think we consumers are going to buy that line of baloney hook, line, and sinker? They then went on to say that if we don't agree, they will close our accounts and let us pay them off at the 'old' percentage rate! So, in other words, if you don't like it, buzz off! The gall is incredible. I would like to keep the card, just for good credit's sake. I won't use it though for anything other than a $10-20 item every other month, because if you don't use the card for 6 straight months they close your account. Well, now they'll get hardly anything from me except a few pennies on a small purchase. Screw you too Capital One!!!

Company: Capital One Bank
Country: USA

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