Capital One Raises Interests Rates Without Warning
By Jay Fleischman, New York Bankruptcy Lawyer on Aug 9, 2007 in General Bankruptcy Information
Our friends at The Consumerist are reporting that Capital One, the folks who brought you David Spade television commercials that served only to mask their anti-consumer lending practices, have struck again. This time, they’ve raised interest rates across the board for its customers. One reader says his wife’s rate went from 9.9% fixed to a variable rate, making it about 15%.
She called customer service, and after getting a “It’s a business decision that was a reflection of current economic conditions”, she finally got a manager who said that she had been getting these calls all day.
So what does this mean for the average consumer, carrying a balance on their Capital One card? It means you will be paying that balance off for a far longer time, assuming you pay only the minimum amount due. Do everything possible to pay that balance off in full, and tell Capital One what’s NOT in your wallet - their card.
If you liked that post, then try these...
The One Thing I really Want Bankruptcy Clients To Do Is . . by Kurt O'Keefe, Attorney at Law
Objecting to Claims: Standing 101 by Michael G. Doan, San Diego Bankruptcy Attorney
Documents and Bankruptcy by L. Jed Berliner, Massachusetts Bankruptcy Attorney
You must be logged in to post a comment.