Fort Wayne, Indiana
Not resolved

I am a long time Capital One credit card holder, recently their board made a decision to more than double interest rates on the card I'm carrying making it next to impossible to keep up with payments. My payments doubled for no reason what so ever I have never been late, I've never missed a payment, now during a tough economy they are going to pull this scam.

I am outraged about this.

I want to spread the word about what their doing to people. I just want everyone to know Capital One is a greedy selfish company who is out to fatten their pockets and drain the pockets of the average consumer who loses his/her job when you're down on your luck they will kick you HARD!!!


Product or Service Mentioned: Capital One Credit Card.

Monetary Loss: $2.

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I have been a long time customer of Capital one and when we refinanced, a few years ago, I paid everyone off canceled all the cards, but kept Capital One because they were always so great to deal with. So to my surprise in June I get the mass mailing, I had to call in cancel the card to keep my same rate which was already a high 16% so it wouldnt jump up into the high 20's...I was never late, and never missed a payment.

So looks like I was getting screwed all along with the high rate, and they tried to make it even worse.

Canceled the card, will pay it down and that'll be it for me! No wonder the country is in such horrible shape, SHAME ON THEM for making it worse and taking advantage of loyal good customers.


I went from 11.9 to 29.9 no notice no reason given. Capone is an abbreviation for Capital one, appropriately. We're being shaken down by a legalized mafia Financial system


We had a Capital One Card was never late, when we got the card it was 7.9% and they raised it to 28% with no reason, they would not work with us now they are taking us to court because we can`t pay them and he lost his job.


Between capitol one and bank of america. screwing with my accounts (never late on a payment or over limit ...ever) I hate to think of the impact on my credit score.

they can all eat ***


i have also been abused by capital one...i have been a member since about 2002 and was at like 21% because of 1 missed payment when i was on bedrest due to high blood pressure being pregant with my son and then having to be out because a c-section and glabladder surgery 6 weeks after having my son. i was finaly able to bring it down to 14.5% only to be raised again with this past raise in rates...this is the only major credit card I have i hope that this lawsuit does good damage to them because it is just not right to do this to people..I sure hope the government does something soon or even have a big government offical open with bill with new hike and he sure won't like it..maybe then something would get down faster


I just noticed that I got nailed by them too. I called as well...they don't care.

Have been loyal, no late or missed payments and for that they jack up my rate to 17.99.

Was told by them that I should be happy, some rates are 24% or so. Will pay off and never do business with them again.


I too are a member of the screwed by Capital One club. I've had their credit card since 2003, have never been laid on a payment.

I apparently did not receive or did not open a mass mailing that they sent out to advise their card holders that their interest rate would be raised (in my case from 7.9 to 17.9%) unless they contacted them by a deadline and opted out.

When I received my first bill with this more than doubled interest rate increase, I was advised it was a business decision and there was nothing I could do.

Even though they could not prove to me that they notified me of the increase - they advised me the law is that they have to prove the mailings were sent not that they were actually delivered - there was nothing they could do. Suck it up and pay the increased rate.

I spoke with 3 people - the last being Frank and Account Manager. He said he is proud to work for them and supports their decisions. I asked how many other complaints he has received and he said none. He actually said that there are people out there that supported the rate increase. I asked why would anyone in their right, rational mind say "oh, please more than double my interest rate" .. he said you better get used to it b/c all credit cards will have rates that are a minimum of 17.9% interest. That's the way it is now.

I contacted the lawyer listed above with the class action suit. I'm so glad there is one filed. I told Frank that it wouldn't be long what they are doing is unethical and violating. He said that they are within their legal rights as it states on the back of the application that I signed when I applied for the card.

I said their new motto should be not what's in your wallet but what's in your mail!

I hope anyone that has been screwed by them like me joins this class action suit!


Check this out . . .

Lawsuit claims that Capital One engages in unfair and bad faith business practices with respect to its unilateral increases in the interest rates charged to consumer credit card accounts.

Atlanta, Ga. (PRWEB) August 14, 2009 -- Atlanta attorney E. Adam Webb has filed a class action lawsuit against Capital One Bank alleging that Capital One has operated in bad faith by unilaterally increasing the interest rates on consumer credit card accounts. Capital One has raised rates even for consumers who have always maintained their good standing by satisfying all account requirements, such as making all required payments and not exceeding credit limits. Furthermore, Capital One has taken such action even against those whose credit scores and general creditworthiness have not declined. The suit claims that Capital One, which is headquartered in McLean, Virginia, has engaged in improper and unfair practices in order to increase the revenue it generates via the interest rates imposed on consumer credit card accounts. The case, styled Lemond v. Capital One Bank (USA), N.A., is pending in the United States District Court for the Northern District of Georgia and has been assigned Case Number 1:09-CV-01582-RWS.

According to the suit, Capital One raised the interest rates associated with credit card accounts by over nine percent even though accounts were in good standing and had been at all relevant times. Although Capital One did not purport to impose these new higher rates on balances accrued prior to its notice to consumers, the effect is the same because of the Bank's practice of crediting all payments to the portion of the account balance with the lowest interest rate. In addition, the suit alleges that Capital One's offer that customers could reject this interest rate increase by closing their credit card accounts is inadequate because, as Capital One is well aware, closing a credit line has a negative impact on a consumer's credit score. A lower credit score can cost a consumer thousands of dollars over the term of a home mortgage or other loan. As a result, customers have been forced to accept Capital One's unilateral rate increases.

The Plaintiffs allege that Capital One is liable for all damages that have resulted from its bad faith and improper conduct, to include the differential in interest payments paid by the class members to Capital One.

If you wish to discuss this action or have any questions concerning this press release, please contact E. Adam Webb., Esq. by e-mail at contact(at)webbllc(dot)com or by calling (770) 444-9325.


I had the exact same thing happen to me. When I called to complain the response (by someone who has taken a job away from a U.S.

citizen) was that is just the way it is.

What a screw. Can't wait to get these sob's paid off.


If you are on Facebook...join the group "Boycott Capital One." Unfortunately there is more than one of these groups so join the one that is the largest.

And tell all your friends to join as well.


Capital One is a bunch of greedy SOB's. Amazing how interest rates are at an all time low yet they have to jack up interest rates on their GOOD CUSTOMERS to the highest rates we have seen on 25 years!

I hope EVERY Capital One customer closes their account and they go bankrupt! They deserve it!