Capital One
Rate jumped from 6.58% to 17.90% doubling my monthly payment

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 received the bill this month and not only did it increase but it increased 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.

Company: Capital One
Country: USA
State: Utah
City: Salt Lake City
Phone: 8008670904
Site: www.capitalone.com

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