I have been a long standing customer of Capital One and was advised that a letter was sent out last month stating that the rates could increase, not that it would but it could. I did not see the letter at that time.
I recieved the bill this month and not only did it increase but it incresed to the point where it doubled my monthly payment.
I had a rate of 6.58% with a payment of $280 now I have a rate of 17.90% and a payment of $466 and with very few charges on it for last month.
Wasn't a new law made so that the banks could not raise the rate over a certain percentage? I think this is banks behaving badly.
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