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Thread: Interest Rate Hike?!!
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20th October 2009 #1
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Interest Rate Hike?!!
Anyone else got a Capital One credit card and have they been told of interest rates going up? I have a Mastercard Platinum (yeah I know, posh git) and have been paying between 20-30% of the balance each month, always on time, done a few Balance Transfers, etc, then I get a letter yesterday, the interest rate on my card is rising to 26% from the current 18%. I called them, said no thanks, so the card is destroyed and I will be paying back the remaining balance (at the old rate of 18% - you can "opt out" of the new interest rate by not using the card) over the next few months. Looks like tough times ahead for credit cards.
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20th October 2009 #2
Most have gone up already so those that do pay, cover the losses for those that don't Capatalism...great eh?
Keith Driscoll - Administrator
Managing Director, Win2Win Limited
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20th October 2009 #3
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20th October 2009 #4
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20th October 2009 #5
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20th October 2009 #6
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20th October 2009 #7
It is simple. They had to reduce their charges for going over the limit to £12, so they are clawing the money back in other sneaky ways.
It's time to kick ass and chew bubble gum. And I'm all out of gum.
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