I just received a notice today that my rates were being raised by 10% on my Capital One credit card. I have been a customer for about 8 years now with no lates or overlimit charges and yet they raise my rate by 10%. When I called and asked for the reason the person continued to give me a read response of due to market conditions... So what your telling me is that others are not paying their bills and since you have been paying yours on time for so long we figured we would let you help pay their bills to! This is not what they said but in a round about way what she was trying to say. Even after talking to a supervisor I was told to pay off my card and use the opt out and then in about a month to apply for a different card and I could get one of their promotion rates. What kind of BS is that.
Anyways after looking at Capital Ones home page new customers are getting rates as low as 9.99% well over what they are trying to change my rates to. This is ridiculous that they are doing this after receiving $3.55 Billion from the government. I can no longer continue to take the greed of these financial company's. They wonder why they got in this position this is why by purging the loyal paying customers and keeping the toxic ones. I am closing all my accounts with this company and will no longer have part in a company that does not care for itself nor it's customers. Their greed has deepened much like the oil companies hopefully our government will finally take a step back and let them fail to prove a lesson.
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