I have been customer of Capital One for years.I always paid my bills on time and always in excess of the minimum payments.
Originally I got sucked in by one of those 0% teaser rates. I knew my rate would go up a few points at some time in the future however; I had no clue that this company would later, suddenly significantly increase my rate by 7 percent in a month. Over the years and months Capital One kept raising my rates a little bit at a time. Last month it had reached a peak rate of around 10 plus percent.
On my last bill, this company raised my rate 7 percent to 17.9%. I must've talked to 6 or 7 customer service agents in 3 different countries (India, Canada and US)!. None of these customer service agents could tell me specifically "why" my rate was significantly increased". All of their standard, programmed answers were "because of the economic
Not only could they not tell my why my specific rate was increased so dramatically, they added that some customers had their rates increased to over 30% (like that was going to make me feel better!),. I was "floored"?. I immediately got online and paid off my $4!.3k balance and cut up my card".
I'll NEVER do business with Capital One again and will never recommend this company to anybody..These are obvioiusly preditory business practices and the customer service personnel were "clueless".