Capital One Reviews

After being a great customer of Capital One for years, never missing a single payment, they have notified me that they are raising my interest rate to a whopping 22.9%. My only option is to close the account, no negotiations are permitted. The ironic thing is that Capital One does not understand the most basic laws of business, which is to make the customer happy. They instead seem to be happy to treat their customers like dirt unless they can make a ton of money off them. This is certainly a signal that Capital One is in dire straits. My bet is that Capital One won't be around much longer. Rather than us taxpayers paying to bail out companies like this, I think we should just let them fail and make them erase the debt we owe them on the way down the drain. That seems more fair to me. At any rate, I'm choosing to pay off my balance with Capital One and keep the card open just to make more work for them. Maybe I'll call a couple times a week and act like a complete moron, something they certainly are well versed in.

I am yet another recipient of the Capital One rate increase mailing (10 from 3.99% to 13.9%) even though I have an excellent credit rating and have never been late on a single payment. As another respondent put it, this is truly insulting. If the Fed rate was 8% or 10% I could understand it, but it's literally almost as low as it can go. The very least they deserve is bad press, and I hope this causes an uproar leading to a tremendous loss of business. The people this is going to hurt are those who are suffering hardship and have no options. I agree. SHAME ON CAPITAL ONE! If this isn't against the law, it should be.

I have had a card with Capital One for approximately 5 years. I have never carried a balance on the card and use it once every couple months just to keep it active, always paying it in full. My Equifax FICO is 765 as of February 18th. Basically, I have amazing credit and never mess around with this card, or any of my credit for that matter. Yesterday, I became one of many people that received the change in terms letter. It was the typical due to the changing economic environment letter and they changed my purchase APR from 4.99% to 17.99%! Seriously, with my credit score and perfect payment history across the board on all my credit accounts, they jack my rate up like that?

I recently applied online for the Capital One credit card that offers 2% cash back rewards on all purchases. I have always had an excellent credit score (I currently have a $60,000 credit limit) and have 100s of thousands of dollars of CDs at their bank. I was shocked to receive a rejection letter. The reason they gave was: too many past or present revolving acct. delinquencies. I have had credit cards for 50 years and never once made a late payment nor carried a balance to the next month, and all 3 credit reports clearly show this. I have never had a loan - I pay cash for my houses and cars, and never buy anything I can't afford to pay cash for. Do they only give credit to people they know will have to pay their exorbitant loan rates?

They increased APR effectively doubling a longstanding low interest rate - from 5.69% to 13.9%. This increase is in effect subsidizing those accounts that are in arrears by penalizing those of us who maintain good standing by paying in a timely fashion and in my case paying much more that the minimum required (sometimes 5-10 times the minimum payment due). Capital One was unable to specify why some accounts were targeted for this increase but only acknowledged that it will affect millions of cardholders. This is poor business practice for a company that I otherwise had no previous complaint about.

I have been paying my card on time for years and I got a letter, saying they are going to raise my interest rate to 17%. I am a good customer and yes, with the economy, you would think they would leave us alone. It's a shame our politicians can't control the banking and credit card industries.

I too received a notice yesterday that Capital One is increasing my rate due to economic conditions. I have had my card since 2002 - excellent credit, no late payments and had a fixed rate of 7.9%. They are going to increase it to 17.9%! What's great is that I used my tax return to entirely pay off my card. So when I called Capital One, I couldn't help but laugh. I told him to cancel the card. He said they could extend my current rate for another 10 months (i.e. until 2010). I told him to do so as it will give me time to find a better credit card. :)

I too was scammed by Capital one and their rate changes. I have tried to call them and they are just like it's no big deal. Well, it's a big deal to me when you are raising my rates for no reason or asking me to opt out and close my account which will hurt my FICO score. This is unfair and what I consider entrapment. Oh, by the way Capital One, I hope you enjoy you bail out money because you are going to need more than that to survive after you just lost all of your customers over this. I have contacted the Federal Trade Commission and I'm waiting to hear back... You should all do the same.

Make Capital One pay! On Feb. 26, I got a letter from Capital One raising my purchase rate almost 10%. I've never been late on a payment or been over my limit. I called customer service and raised hell. I didn't get my rate lowered but I did get the promise of a $50 credit to my card. Everybody needs to call and stay on the phone with various supervisors until you get a credit too. If everyone does this, maybe it will cost Capital One so much they'll reverse this anti-consumer policy.

C1 gave us in writing that after 90 days of good payments they would increase the credit limit from $500 to $750. They never did. They broke the contract and continually add all their penalties and late fees to keep us over the $500 limit. We have paid more in their stupid fees than charges that were ever made on the card. Also, we have repeatedly tried to cancel the card with no success.

Today, I received a letter from Capital One credit cards notifying me that my current interest rate of 9.9% would be raised to 17.9%. Needless to say, I was outraged and immediately placed a call to customer service. I did not bother with the formality of speaking with their representative but chose to demand to speak to a supervisor that spoke proper English. Now of course you know I still ended up with some broken English ** on the line, but that was not going to deter my wrath or rage that had boiled over by now. So, this so-called American named James listened to my complaint and told me over and over again there was nothing he could do which ticked me off even more. I then decided to go on a full on torrent and offloaded a 15-minute barrage of how this was completely unfair to punish those who bailed their ** out with 3 billion dollars of hardworking taxpayer money just to turn around and stick it to their so-called valued customers.

I got nailed by Capital One too. This is the financial equivalent of taking it in both ends. There are numerous websites with similar tales of woe and, for whatever good it will do, I have written to my Congressman and suggest you all do likewise. Their e-mail addresses are easily found by Googling them. My letter to Frank LoBiondo, 2nd Dist, NJ was as follows:

I have a 825 FICO and got notice today telling me they were going to raise my rates on a card that I use but I keep paid off, to 29.4%. I declined, but here is my response to them:

I, like many others, was very disappointed in Capital One. I currently work for a bank, not going to mention names to prevent any arguments, that has done this sort of stuff to consumers with the change in the economy. There are so many reasons that we should not be here right now but that is another subject. I opened my mail today and saw a lovely letter from Capital One assuming that it had information about the 0% balance transfer I had just completed within the previous weeks.

I paid $75 security deposit to get a $200 credit card with Capital One. Five years ago, I moved, gave them my new address and I received no bills. I continued to make payments online anyway and actually thought I had overpaid the account. When I didn't hear from the company, I got rid of the card and sent no more payments. Two years later, I got a letter from a collections agency saying I owe $400.90 on a $200 card.

As noted on the main site, I received today a notice stating that my credit card's normal purchase rate would jump from 14.15% to 22.9% effective April 17, 2009. This is on top of a $35 annual fee. I've had the card for quite a few years (about 5), and never had more than $400 balance at any given time. I'll be canceling my account with Capital One - this action against consumers after taking $4 billion in government funds is unacceptable.

At a time when the economy is being shaken and good people who value their credit standing are trying to get through this crisis, they get their interest doubled if not tripled. HOW DARE THEY! What incentive is there but to close the account? What incentive is there to always do the right thing? I am appalled at this. I am being punished for being good.

I would also like to join any class action lawsuit. I'm a Capital One customer for many years. A couple of years ago, they raised my credit limit. Then they raised the interest rates for no good reason when interest rates everywhere are declining. Then, a Feb. 09 payment was made online on due date. It did not credit to my account by them until the next day. So $39 late fee was assessed. I called to complain. They agreed to remove the $39 late fee as a once-in-a-12-month period courtesy. When the next statement was received, I found another $39 fee for being over the limit which was only over the limit because they charged the $39 late fee that they waived. It took 10 actual minutes of arguing with Jordan to get a supervisor on the phone. They would not waive the $39 overlimit fee as they only do it once in a 12-month period?! It was only over the limit because of their fee that they charged due to problems that were not my fault. Ridiculous, unfair, and oppressive! They do it because they can. They don't care, and then spend lots of bucks advertising for new customers.

They have raised my rates from 8.99% to up to $29.00%. I've had the card several years and have faithfully paid on time, and now I am being forced to close my account if I don't want to be taken advantage of. What a bunch of junk! I guess it doesn't matter how much money the government gives them. They will always need more due to their intense greed!

I received a letter stating that they were increasing my interest rate to almost 30%. Of course, they did give me the option of closing my account, while I continue to pay. Given the state of the economy, I do not understand the mentality of those making these kinds of decisions. I closed my account, thus, ultimately they are losing a good customer, like others who have reported the same situation. I wrote a letter to the President, but you know where that will land. One vote counts? Whose vote might that be?

After reading all the comments from customers of Capital One Credit, I decided to call the company and add my two-cents. Of course, I was directed to a pre-recorded message about economic conditions. When I spoke to a live person, I talked and the only conversation on the other end was, "I am sorry." I did have the satisfaction of saying that I hoped Fairchild could sleep at night and that all of his bonuses, stock options, etc., would give him comfort! I have had a Capital One credit card for years, always paid within 30 days, no late fees but I am considering closing the account so that the balance can be paid according to original terms but fear that it will impact my good credit rating.

Capital One raised my rates too. I never had one late payment. Corporate Crime! Where is the government when you need it? Oh, that's right; they're bargaining with the second largest lobbyist group. Can you guess which one it is? If you said Credit Card Lobbyist, you're right!

I'm just another consumer taken advantage of by Capital One. They jacked my credit card interest rate up from 6.4% to 19% forcing me to close my account. But before that, they sent me an invitation for a car loan. I submitted an application which they declined. Without any notice to me, they sold my personal information to a company that is all over the internet as a predatory lender with several D/B/A names. After I contacted Capital One, they told me they have a right to do this and to read the fine print. I know I'm not alone in this scam. Justice needs to be served! All the while we, taxpayers, bail out these thieves with our hard-earned money.

I wish to join the group complaining about Capital One. I have had an account for years (either 2003 or 2004). I joined with a 4.9% rate. For no apparent reason, in 2007, the rate increased to 9.9%. When I asked about it, a very rude young lady stated I was lucky that the rate didn't increase to 24.9% like it did for other customers. I kept the account open, but immediately transferred the balance to another account with a lower interest rate that was stable. A few weeks later, Capital One sent me a transfer option with an interest rate of - you guessed it - 4.9%. I called asking why I could not keep my original 4.9% if all they were going to do was raise it and then offer me this low rate again for all transfers. They had no real reply.

Like many others, I was also raped by Capital One. Due to the economic conditions, my interest went from 9.9% to 17.9%. And like many others, I called Capital One to opt out. Surprise, surprise - not everyone is being affected by this. Guess who is? Not that they will admit it - but it is clear from reading all the complaints against Capital One that it is those of us who have excellent credit scores and always pay our bills on time. Yes, opting out will affect our credit score but you know what? Better to have a small blemish on our score than to cave and pay the higher interest which will bail out the losers who are not paying their bills... I hope everyone who got this notice will Opt Out and therefore not give in to their terms.

I have had Capital One credit card for six years. I always paid the bill in full. I haven't used the card in a few years and last week, I received new terms effective May, 2009. They are raising my interest from 6.9% to 17.9%. I called them and asked why (I have a FICO score of 775) and they read word for word from the company headquarters that they are doing this to everyone due to the economy. I told them I felt my good credit should allow me a better rate and they stated I could close the account. Then they stated, "By the way, if you don't close your account, we are closing it in 2 to 3 months as we froze your account for non-use." I stated that this would be detrimental to my credit score and they said that it's my choice which way to close it. I am really upset because I would like to refinance my house in the next six months. I can't believe they are getting away with this after receiving bail out money. Can the government do anything about this?

Like everyone here, I received my notice from Cap One upping the interest rate on my purchase charges, cash advance, and whatever else they could think of from 13.5% to 24%. I rarely carry a balance on the card, and when I do, it's paid within 2 payments. Two years ago, I was late with an online payment. Payments made by 3:00 pm get credited the same day. I made my payment at 3:02. I did manage to get the late fee waived, but only after finally getting to talk to a manager. I was so mad then; I should have cancelled the card on the spot. With these new term limits imposed by Cap One, I DID cancel my card, along with a wonderfully therapeutic ** online message. I promptly went down to my Credit Union, where I have done business for years, and got a new and improved Visa - one with 9.5%. So take heart, people. Cancel the card if you can.

I've been an account holder of Capital One since Mar. 07. I have never been late paying my account and have always paid more than the minimum amount due. When I signed my payments to be taken from my account electronically in January that was when the trouble began. I tried using my card to find out that it was declined - reason unknown. When I called Capital One, I was informed that my account was late due to the bank not taking funds in time. I was not aware my payments had changed from 15 dollars a month to 33 dollars a month. Also I was not aware that my due date changes each month.

Like all the others, I received a notice of a rate increase, and I have closed my account. I have another card with a different bank and if this other bank does the same as Capital One, I will be forced to see an attorney. I am laid off at this time and just trying to keep my head above water. I have worked hard my whole life, and now with the government on the side of the banks, I have very limited opportunity on how to deal with this. The banks and government go hand in hand with destroying people’s lives and not helping them. Where is my bailout? I’m almost bankrupt.

I worked for them for about 7 years ago for 5 years. I was a supervisor that dealt with all of the people calling that had received change in terms. It's been going on for years. The cardholders that pay well, that don't incur late/over limit fees, and don't have high interest rates, or annual fees, are not profitable to them so they change the terms to try to make you close your account. It is widespread now, and shows that they are in dire straits. The best thing to do, if you can, is pay it off before the change in terms but leave the account open. It costs them more money that way. Call often to ask stupid questions. That will cost them more. You will surely be speaking with someone from India, though. By the way, I am also a great customer, with no late and over limits, and I received the change in terms as well.

I have 3 cards with Capital One. They just sent me letters stating that because of economic reasons, they were raising ALL my rates. This is a company that I've dealt with for years and have always paid and was late maybe once on one of the cards. Charging me more takes more money out of my economic situation. How are you expected to just adapt to the whim of a company after you've acted in good faith for many years? I think this company just raised rate on everyone because they could.

I received a notice in the mail stating my 8.99% fixed interest rate was going to a rate of 17.99%. My FICO score is 785 and I have this card for the last ten years, always paying on time. I am going to pay them off and never deal with them.

The same thing happened to me as to everyone else. We have excellent credit, have never ever been late with a payment to anyone in 45 years, and always pay more than the minimum or pay it off in full every month. Now we get the same we're raising the rates that other people are getting. I will never do business again with any company that pulls this crap off their good customers.

I opened a Capital One account and paid it off completely in Aug. 2008. All of a sudden, 5 months later, I received a notice in the mail stating that I was behind 5 payments but It's Still Not Too Late. I called Capital One immediately but could not get a rep on the phone. When I finally got a rep on the phone to discuss the phantom $139.54 balance, I was told that the balance was now zero and not to worry about it. I then proceeded to question the charges on my account which were all fees by the way & find out how the charges had just disappeared, why I was not notified earlier, if it had gone to a creditor, was it affecting my credit score, what's going on?... The rep had no answers for me. Finally, I supervisor got on the phone who assured me that the account was now truly closed & that the back payments had not impacted my credit rating. I know this money did not just disappear. I do wonder whether or not Capital One was using my & other closed or zero balance accounts full of hidden fees to make a case to the federal government for more of our tax dollars. Something is shady here. It is just not sitting right with me.

I just received notice from them that due to the tough economic times, that they will be raising my interest rate from 11.9% to 17.9%, despite me being a good customer since 2002 and having a good credit score above 750. Luckily, I don't have a large balance on the account and plan to pay it in full before this rate change occurs.

I received a notice telling me that the APR on my account will increase to 17.9% and become variable after January 2010. This account was supposed to have a fixed interest rate. In addition, I received an email telling me that I could transfer balances to this account for a 0% interest rate. Since this didn't make any sense to me, I called and spoke with three different people. I said, "If you can afford to offer me 0% on what could be a large sum of money, why do you need to increase my interest rate on a small balance?" I was told that there was no connection between the two situations, even though they involve the same account, the same account holder, and the same wallet that the money for payments is going to come from.

In this horrible economy we are facing, with people losing their jobs and homes and more than 50% of their retirement, how dare Capital One Bank send out a notice to double the interest rate I'm paying on my credit card for no other reason than for pure greed on the part of this bank. Banks have taken bailout money, but they still want to stab the consumers in the back with a change in terms notice. President Obama is constantly talking about the Stimulus Package, and he wants to get people to spend more money to increase the economy. But how will I be able to do that with whatever extra I might be able to spend instead is used to pay a higher amount of interest on my credit card?

I received a letter on 2/24/09 that my APR is being raised from 13.01% to 22.9% due to the current economic conditions. Why not raise the APRs on people who AREN'T paying their bills? I've paid my bills on time since I've received their credit card. I always pay more than the minimum payment.

I received the notice of interest rate increase. I have been a loyal customer for over 10 years and have always paid my bill on time and more than the minimum amount. For them to increase my rate from 10.9 to 17.9 is ridiculous and for them to quote “because of the economic environment” is even more so. In this economic environment, they should be doing whatever they can to make sure their customers can pay their bills. I called their customer service and asked to have my rate reduced to what it was before and was told under no circumstances would that happen. I then asked for reason why my account was being affected and they replied they did not take credit history or length of relation into effect. How could that be? They punish their good clients - what type of business is that? I informed them I just took a 20% pay cut and if I had to file bankruptcy, they would not get a dime. They had no comment for that.

I too have been screwed with a massive increase to my rate (17.99). The sad part is they will get away with it.

I have had a Capital One Credit Card for the past eight years. I received a notice recently that they were raising the rate (again). The rate increase seemed excessive since most months I pay my card in full. My time, like most people, is precious. So like most people, I didn't call a company representative to find out why or to ask for a reduction - I just cancelled the card. I did not owe much. I paid it off. I have another card.

I received a mail notice that my interest rate was going up 22.9%. I have been paying the bill on time or early. I am retired. I cannot afford that rate.

As with most, if not all Capital One Card holders, I received an important change of terms notice notifying me that my Fixed 9.9% APR rate will change to a variable rate equal to 14.65% APR plus prime. It is unbelievable that an account that has been open for nine years in good standing can change so drastically. I called and was informed that all accounts were being increased. I asked twice to confirm I heard the representative correctly and was told that it was all credit card accounts.

I have forever been flooded with Capital One balance transfer checks junk mail. Has Capital One been trying to draw in loyal customers with good history, knowing the interest rate would double (9.4% to 17.9%)? Opt out is their answer. Looks like it is only getting worse. A setback in how I spend my paycheck for sure. I will stop using the card and make monthly payments. I will try to pay off before the deadline. For purchases, I'll use debit card and cash only.

Please note that I have asked this Capital One company to cease and desist as I owe them nothing. Over the past year, I have received several notices from them from various collection services... My credit rating is ruined by constant harassment, etc..

I have been a Capitol One customer in good standing for 7 years, and I have NEVER had a late payment on my account. I suddenly was informed that my rate was going up for no other reason than 'extraordinary financial circumstances' in this country. I now have an APR that goes from 4.9% to 14.9% for absolutely no reason at all. This is a joke. They're a joke. I have never been treated so poorly by a company that I thought I was in good faith with. Well, I have no other choice now but to close my account and transfer my balance to a different company that does not employ these types of unfair and outrageous business practices.

I also received my extraordinary changes in the economic environment rate increase notification from Capital One. My rate will be increasing to 22.9%. I have been a good customer for many years, and I can guarantee that I will not be giving them the satisfaction and the financial benefit of raising my rate. I have other cards I can use.

I had 2 cards with Capital One Bank. One had an interest rate of 6%, and they raised that to 15.9%. I had one with 15%, and they raised that to 29.4%. I had been with them for 9 years, never been late, never missed a payment. I own my home (paid off 15 years early). I have a credit score of 760. I called and talked to a $3.00-per-day Indian woman who a third-grader has better command of the English language.

I fell behind 5 months in my bill through Capital One credit card. I have been a customer for over 5 years, and also pay for payment protection. I called in January and spoke to one of the representatives. I told her my new address and that I was experiencing hardship due to death and my family and so forth. She said no problem and that she would credit me the finance charges and late fees.

After several years of excellent payment history, Capitol One sent me a notice raising my interest rate from 9.95% to 29.4%. I had no choice but to close the account to keep my balance owed at the current terms. I've never been late and have faithfully used this Capital One Platinum card. I had to reduce my available credit by $2,500 and have lowered my credit score by closing this account. But I cannot let myself be a victim of yet another bank taking advantage of the consumer.

I was notified that my credit card rate would increase from 9.9% to 17.9%. I have no balance on the card and, having just refinanced my home, know that my FICO score is almost 800. I'm leaving the card open to maintain my score, but will not be using the card EVER. This seems illegal, especially since I've just paid to bail them out. Capital One is obviously failing. I can't wait.

I just received a letter from Capital One that they are raising my interest rate from 11% to 22% due to the economy. Didn't they receive TARP money??? I will be paying more money each month for the Capital One card.

Capital One has totally lost it. As to what happened... On 6/19/08, we paid off in full our Capital One Credit Cards totaling approximately $17,000. On 7/12/08, we received a charge of $49.95 for a Card Secure. I called the 800# listed next to the charge numerous times. I tried to reach a human being but the system is only automated. One needs a pin number, which we do not have. I have made calls to Cap One Customer Service trying to dispute this charge. On 7/19/08, I filed a fraud report with Capital One and was denied because in 1992, my husband did sign up for an annual charge of $49.95.

I have been a Capital One cardholder for 8 years. I received a note from them last week saying that my fixed 7.9 was going to 13.9 variable!!! My questions and finally complaints fell on poor India workers. I was not allowed to talk to a supervisor, only given the opt-out number. What kind of organization treats its good clients like this? I thought I DID everything right. I charged, never a late payment, never over limit, exceptional FICO score. Man, this has burned me up! Of course, I'm opting out and I will not watch or do anything that has Capital One for a sponsor, and there's word of mouth. I have contacted my government officials. Thank goodness for credit unions.

They have decided to change my rates on purchases from 14% to 17.9% variable on purchases and from 17% to 24.9% on cash advances effective April 17, 2009. For months now, whenever I make a payment, they always apply it to the purchase amount so the cash advance and higher interest rate never go down. I am always current on my bill and do carry a balance that I cannot afford to pay, which is the way they tell you if you do not know what to expect the new terms is what you have to do. Pay them off and cancel your account is what the back of the mailer says. How is it that a company is able to do this to so many people and still operate in this country with Federal dollars nevertheless and stake claim it's due to the economic environment. This company is putting an extra burden on people that can just not afford it right now. The new terms are not what I signed up for and to change them in the middle of an agreement is an outrage.

Just like the rest of the massive amount of complaints against Capital One that has been flooding your website, my interest rates have been raised for no reason from 7.8% APR to 29.4%. My payments have been paid the day the bill has been received and has always been more than the minimum amount due. Last month I sent $500 for my regular payment. I have a $3,900 balance. By cancelling the card to keep the current rates, this will lower my FICO scores. This is called credit card extortion. With regard to real estate lending practices, the legal term is called usury fees, which is illegal.

After having a Capital One Platinum credit card for over 3 years (no late payments), I received a notice from them of a change in terms. Great, the Feds beef-up and my interest rate goes from 12% to 22.9%. Guess I should be glad that I only carry about a grand balance. I'm going to have to search for a truly low interest rate card that doesn't have a murky past of raising rates on the sly. Wish me luck.

On February 23rd, I received a notice from Capital One that both of the credit cards I hold with Capital One are increasing the APR to 17.9%. One of my cards is currently at 11% and the other is at 12%. The notice explained that the reason was due to the economy which sounds to me like usury (a.k.a. loan sharking). We saw construction companies do it after hurricane Katrina. Capital One is no different. They saw a way to make a buck. Changing terms in this manner should be illegal. What's to stop Capital One from making the interest rate 27.9%? Nothing! I am beyond outraged at Capital One's treatment of long time customers.

I too have been an outstanding paying customer since 1993. I received the same letter as everyone else. I called and got the same lame excuse. We all need to stick together and force them to go under. We can continue to comment online and get everyone of us to close our accounts. I am so pissed off right now, I could bite nails!!! Here I used to praise them to people. Unfortunately, both members of our household are unemployed. I wish I could get a loan to pay off the card. Steaming in N.J.

I just received a notice of an interest rate increase of over 10% (Prime rate + 10.65%). They said it was due to the 'changes in the economic environment'. I have had the card for 10 years at a fixed 3.99%. I was told when I first got the card they could NEVER raise the rate or change terms. I have never been late and always pay more than the minimum payment. Can they legally do this? Is there a class action lawsuit that can be brought against them as it looks like they are getting away with this? No help from their customer service dept. In fact, they hung up on me. Interesting observation is that the envelope the notice came in looks like the kind you get with most credit card solicitations and I bet a lot of people tossed it and will be in for a big surprise when the rate increases.

I received a letter from Capital One stating a change in terms on my 9.9% fixed rate account to 17.9%. I’ve had the account over 10 years, paid off balance and never had a late payment. My credit score is 780. I can only assume they put little value on good customers. I will pay my balance and opt out of their offer. What they are doing may not be illegal but it sure seems immoral to punish responsible people because it’s more profitable to gouge the irresponsible. I certainly would not recommend or do business with this company again.

I am a Capital One Visa Platinum cardholder for over 5 years. Never missed a payment, impeccable credit. On 2/23/09, I received a letter saying my interest rate was increased to 17.9% due to extraordinary changes in the economic environment. The very next day, I receive a What's in Your Wallet promo letter stating "You're one of our most valuable customers....." This interest rate is ridiculous and I will be closing my account. Idiots, all of them. The credit reporting companies try to play God with people's lives. They are unfair, unscrupulous and detrimental to the survival of this ecomonic climate. The fact that they can change the terms of their agreements any time they want is outrageous. I hope Capital One crashes and burns.

I received a notice last night that they are raising my rate to 17.9% Variable. I am shocked. I don't understand how they can accept money from the government, paid by taxpayers, then hit us again by more than doubling the interest rate they charge. Unethical, greedy, evil. If your insanely high interest rate takes you over your limit, you'll get charged a fee, then interest for the fee, and round it goes. That's when people become unable to pay their bill at all...

Buyer beware! Capital One has mastered the art of swindling the consumer out of every dollar with a little 0% APR smoke and mirrors. In these tough economic times, I was seduced into believing that their supposed 0% APR balance transfer offer was legitimate. Boy, was I wrong! All I can say to anyone believing that all those blank checks will save you money is READ THE SMALL PRINT!! TWO COSTLY LESSONS WERE LEARNED.

I too, have a Capital One account, but not for long. My fixed rate of 9.9% just changed to 17.9% due to the economy. I have ALWAYS paid on time and have never been late paying, so I do not have any over-limit fees or late fees. I will have to close my account to keep my current interest rate on my balance. There is a phone # to contact about help with my credit and it is 1-866-941-1030. They offered to waive my finance charge for 3 months and I accepted, and I sure hope it went through! We will see.

I received a notice from Capital One Bank stating that the 4.9% APR on the Mastercard I have had for 6yrs will be increasing to 13.9%! I have always paid my bill in total and on time, if not early. I called the customer service line and they very politely read the cue cards stating it was a business decision due to the current economy. Obviously, this is unacceptable to me and I went online to see what banks are offering, and lo' and behold, there is Cap One Bank offering 0.0% APR until Feb 2010 and 11.9% thereafter! How can they do this?? They increase my rate for no good reason and offer 0%. Is there anything that can be done about this?

I too received the APR rate increase notice in the mail today. I immediately went to their website and saw that I had a rate that varied between 4.5% and the current 2.9%. Their offer to me: accept an increase to 29.4% or OPT out. I called customer service and requested someone to speak to about this. They said no one was available, so I'm stuck talking to an Indian explaining to me the economic issue in my country. I found this quite amusing. I explained I had been a customer for over 8 years and this is how I get treated. I have a FICO score in the 780 range, have zero balance on my card, have paid in full every month except for a $4.85 balance that was days late in Dec. 2008.

I also received a notice in the mail today increasing from 9% to 23.99% effective April 17, 2009. So I either agree to pay this outrageous interest rate or close my account and affect my credit rating. Our tax dollars saved this company and this is what it does to its loyal paying on time customers. This should be illegal to do after they received the bail out money. So make it impossible for most everyone to pay these new rates and ruin everyone's credit score. Only in America can things be so backwards and backstabbing by Capital One. So for all these increases to everyone, are the big bosses going to get a nice really big bonus in the millions? I bet they are going on some tropical vacations too while we are suffering the real economic environment. We are the victims here and someone needs to step in and help the middle class now. Everyone needs to close their account if they can and see how long there is a Capital One bank. What are the requirements for a class action lawsuit and would it do any good?

Increase to 270% interest, I just received statement for Feb 2009 w/ increase in rate!!!!! I can forward a copy or send the original to an attorney for lawsuit on usury rates!!!! I have always paid my balance in full for 2 yrs & have an excellent FICO score.

Same rate jacking attempt on our accounts. I found their "Due to extraordinary changes in the economic environment" excuse to be insulting. They must have a pretty low opinion of the average intelligence of their customers. The quoted phrase translates to Greed. It costs them no more to service our accounts in this environment than it did before. We too are canceling both our accounts. What was in my wallet can now smooch my butt!

I received a generic letter today saying that they are increasing my interest rate. It was 8.90% fixed and now it has suddenly changed to 17.9%. I have been a customer in good standing, and when I called to inquire about the changes, I was told by customer service that there was nothing that they could do. When I asked to speak to someone who could answer my questions, I was told that their managers could not answer my questions either. I asked to speak to a supervisor and was told that they would transfer me, but I was on hold for ten minutes before the line went dead. I assume that I was hung up on. I was told that if I did not like the new rate that I had an option. I could decline and close my account.

I had a Capital One credit card. In 2005, I encountered some late fees/overdraft fees in the amount of $500. After I made arrangements and paid the fee in full, my next month's statement incurred another late/overdraft fee and a higher monthly payment. I told the representatives that I was not going to pay those fees as they were inaccurate and I wanted them corrected. They said there is nothing they could do about it and I would be responsible for the fees.

I received a notice that my APR was going to increase to a variable rate equal to 9.9% as of 1/28/2009. I received the notice on February 22, 2009. When I called, they said nothing was going to happen until May 17th. I have been an outstanding Platinum customer since 2004. I told them that what they are doing is wrong. They made poor underwriting decisions to individuals who don't pay their financial obligation and are offsetting it to people like me who are good standing customers. I am furious that they will get away with this. Of course, I am going to decline and take my business to another bank, but which one? They are all corrupt today. It really stinks for people who are financially responsible.

They increased my interest rates to 17.99 from 9.99. I always paid on time and paid min. + double interest. How can this be fair? Only option was to opt out. I think every Capitol One cardholder should minimize their spending to necessities for the next 60 days, further declining the economy until government realizes that this kind of behavior is unacceptable.

I received notice in February 2009 that my APR was increasing from 12.24% to a variable 17.9%. It states that the following charges will be effective after April 17, 2009. However, below where it describes the terms, it states increase as of 1/28/09. This is hardly a 15-day notice. I contacted Capital One, to be told that it was a typo. So I will be watching this account to see when they make the changes. As with a lot of people, I too will be closing my Capital One accounts. I am curious, however, as to how much difference there will be to my credit score if I close the account vs. just not paying the card off. It will be negatively affected either way. I just do not understand how arbitrarily raising rates is supposed to help the economy (which is why they state they are increasing rates). Will these rates be reduced once the economy is stabilized? Most of our economical problems were created by unscrupulous credit practices and unethical predatory lending. I fail to see the difference.

On January 6, I made arrangements to pay off the credit card and close the account. I asked the representative how much money it would take to accomplish this. She quoted me an exact figure, and I authorized that amount to be withdrawn at once from my checking account. Two weeks later, I get a bill from Capital One saying that I still owe more than one hundred dollars. When I called on the phone, I spoke to someone who could not help me and would not put me through to a supervisor. It is reasonable for a consumer to believe that when they ask a company representative for a pay off amount, the amount will indeed pay off the account. This game they are playing is illegal, and they need to be held accountable.

I received a change in terms notice recently as well. I've had my 30K credit limit card with Capital One for 7 yrs. Even though I have several other cards, Capital One was my card of choice because of the 8.9% rate and the cash back rewards program. The notice stated my rate is increasing from 8.9% to 17.9% with the option of opting out and having my account closed. I have a 790 FICO score and made large payments on my account every month. My current balance is only $700. I have never, ever been late on this account or any other account. I, like everyone else, was really angry when I received my notice. I was even more angry after calling 3 different days only to be told this was a business decision with no exceptions. I spoke w/a customer service manager as well as a rep. in the Executive Response dept. (1-800-955-1455) today who conveyed the same info. Boy, they sure have the script down packed.

I have again tried calling 1-800-231-0789 to opt out of my credit card account. Again, I am getting the same reply that they cannot identify my credit card number. Since I must have entered my card number over 10 times, I couldn't have made the same mistake every time. I have made a complaint with the Office of the Comptroller of the currency with my suspicion that Capital One is deliberately not allowing card holders to opt out. I have also called the number on the back of my card to no avail.

I've had a Capital One card for years - since the early 90s at least. The card was opened with a fixed 9.9% APR. I have enjoyed this for the entire life of my card. I received a letter yesterday stating that this will be increased to 29.4% in the next two months!!

I transferred balances from other credit cards with a 0% intro APR and then a low fixed APR of 7.9% offer in July 2002. I have made well more than the minimum payments, all on time. In my February 2007 statement, there is a note stating: *** Please Note *** Some of the terms of your account are changing. Please read the enclosed notification? The letter states: Your account is changing. These changes will start with you April 2007 billing cycle: Annual Percentage Rate (APR). In light of rising interest rates over the past few years and the rate currently applied to your account balance, the APR on your account is about to increase. Your new rate for purchase and cash advance balances will be as follows: 12.9%? APR.

I have had a Capital One card since 1999 (10 years). At that time, it was at a 9.9 FIXED interest rate. A couple years later, it was dropped to 8.9% FIXED. For the last five years, it has been at 7.9% FIXED. I just got a letter stating that they were raising it to 17.9% VARIABLE. I am sending a letter to Capital One, copying the Comptroller of the Currency and writing my two state senators and my state representatives. I refuse to call their customer service line anymore! Their Indians don't understand English worth a darn. They don't listen to what you are saying and they hang up on you all the time. This company received $5.6 billion on TAXPAYER bailout money. What the heck do they think they are doing!? I pulled my credit reports to see if there was anything bad on them. Nothing. Nada. My credit is SPOTLESS including my rating from Capital One themselves! So I want a REAL justification for their interest rate increase.

I received a notice in the mail in February 2009 that due to changes in the economic environment, my account purchase rate at Capital One will increase from 9.9% to 17.9% as of April 17, 2009. My wife and I use the card and have almost the highest credit score possible. We generally pay off all cards each month, but have used this card over the last year and paid some interest. We have had this card for several years and used it on and off. I called Capital One to see what they could do about the rate. Nothing could be done. At the risk of hitting our credit score, I immediately shut down the account to show my disgust with their business practices.

I, too, recently received a notice that my APR is going to increase substantially. I believe the increase will be from approx 5+% to 15+%, but have lost the notice. I am awaiting a response to my message to Capital One to confirm this increase and the effective date, as I plan to close my account and cease doing business with Capital One before the increase takes effect. I have already filed a complaint with the FTC and advise everyone else affected to do so. I believe my taxpayer dollars through the TARP bailout should have been more than enough to prevent this rate increase. This kind of bait and switch by Capital One flies in the face of the purpose of the TARP bailout. Our tax dollars are being wasted on fancy, personalized notices telling us our rates are increasing. This is NOT what the government had in mind when it gave billions to Capital One.

I believe we have seen the end of the America we once knew. Our government has gone berserk, allowing every special interest group to get their needs done. The only consequences seem to be upon us, the soon to be extinct, working American. Capital One, as every other bailed out bank by taxpayers' monies, is only doing what is being allowed by our Government. Yes, we all have similar stories (good credit, well paid history) and yet we are surprised in what these parasites are now doing! Wake up America. This is only the beginning. I have used the offers given (0% 12 months 1% transaction fee) on $30,000.00. I'm not the smartest guy around, yet knowing in the end I have the ability to pay this off after 12 months, I'd been a fool to pass this insanity up.

I had received a notice that my longstanding card from Capital One (since 2004) was raised from 9.9% to 17.9%. Their toll-free line to deal with the change of terms only lets you accept or deny. If you denied, then you closed your account. There was no option to protest the increase. I called customer service who were not helpful. I asked to be sent up the chain to those further in charge. I was told they were my supervisor and there was no other person to talk with. I pressed and they refused to transfer my call or provide me the name of an officer to protest.

They are increasing my APR through no fault of mine. It is increasing from 11.52% to 29.4%. I called customer service, spoke with a manager and I was told that there was nothing they could do for me. That the new APR rate will begin in April 2009. I have an excellent credit rate and this should count for something when they decide which accounts should be raised. The economy is poor, yes, but raising rates will not help it. If these companies really want to help the economy, they should lower the rates so it makes it a little easier for THEIR CUSTOMERS to pay off their accounts. Because these companies are so greedy, I hope that people like me close their accounts OR file for bankruptcy so that Capital One loses money all around and they have to go out of business.

Capital One bank, who took millions in Bailout money, is raising interest rates by 7%. In their explanation, they said this is caused by economic conditions. We all are hurting by the economic conditions. This probably happened because I went over the limit. How can they do this to the hardworking taxpayers whose tax dollars paid for their bailout? Is there no justice left in this world? I cannot afford these increases. I am worried about losing my home.

This is the second time in two years that Capital One jacked up its interest rate to me. I suppose I am one of the fortunate ones that had a $0 balance on the card, so no harm no foul. Needless to say, I put the card in a drawer and will wait for the next time a rep calls me and tells me that they miss my business. For anyone who does not need a high limit card, I can highly recommend Simmons First, an Arkansas based bank, with terms of 7.25% fixed for a platinum Visa. And guess what? Every time you call, you get a very courteous southerner. They were inundated with requests last time Capital One went on a whoring spree. I'm sure they will this time also. You must have excellent credit and as far as I know, the maximum limit on their Visa is $5,000. Here is their link: http://www.simmonsfirst.com/

Once again we are victims of another loan shark practice. This time, my wife received a generic notice from Capital One raising her interest from 8.15% to 17.99% effective May 2009. This will be the fifth account we've been forced to close in the past 18 months with a perfect payment history. A reduction in credit score we have worked so hard to maintain over the years. Higher interest and insurance rates due to closing of another card.

Capital One is lying if they say they are not raising rates. I have had a Cap 1 account for over 7 years - always paid on time and never late. They gave me a fantastic rate and I transferred balances. Now for no reason other than the current economy, they are tripling unless I close the account. Then and only then can I continue to pay at my current terms. Oh and they also just charged me an annual fee, which they cannot reverse even though I am opting out to keep lower rate and must close account. Citi tried the same thing last month and when I said I was going to opt out, they decided to give me a lower rate so I would keep the account open as they had just raised my limit and want me to use it!

I have had a Capital One account since 2001. Always paid on time. Just got a notice that they want to raise my rate from 9.9 to 17.9. When I called to complain, they made a misleading offer to keep the rate lower for ten more months. They neglected to mention, until I asked, that any balance left after 10 months would then be locked in at 17.9%. It really bugs me how greedy this company is. They are having some financial problems because of the economy and bad management decisions, and they want the government and their customers to bail them out. I started wondering why they are so desperate for money and found the following information about how much their top executives made in 2008 in pay or stock options exercised:

Obviously, hundreds of Capital One users are being subjected to increased interest rates. When you cancel your card, send letters to all three Credit Reporting agencies and Capital One stating you are closing your account at customer's request due to a change in terms. Make sure these letters are attached to your credit report. This advice comes via my banker. I too thought Capital One was swell, no more. The only power we the people have is cancel accounts. Do it. Check with your bank for an open line of credit for emergencies. I run a small business and use my credit card for business. I will use my small local stable bank instead. Good luck, everyone!

My rates went from 6.99% to 15.99%. Is there something wrong with this picture? After being disconnected several times, I gave up. Stress, anger, disbelief that a company could change my rate because they lost their investment. I wish I could charge someone else when I lost money.

I got my CHANGE OF TERMS notice today. They want to raise my interest from 11.4% to 17.99% after years of good service and timely payments. Of course, I opted out and my account will close as of May 17th, 2009, as per the two choices given. Pay up or close out. My concerns are how this (coerced) closure will affect my credit rating. If this will reflect adversely on my credit rating, then I find this to be an appalling act that should NOT be occurring, especially after years of paying faithfully. Please, can someone tell me that this will NOT affect our credit ratings? We shouldn't have to get lowered scores because we refuse to accept outrageous and unjustified interest hikes.

So, like so many other good customers, Capital One has sent me a notice that due to the extraordinary changes in the economic environment, they're reviewing our existing credit card accounts. Then it went on to say, "We will be increasing your Purchase rate. We're also raising your Cash Advance and Default Rates." I have an excellent credit score and have worked hard to keep it that way. Both my husband and I work hard for what we have as middle class, and have gone without many times to make sure our bills are paid on time and over the minimum amount due. So, we're good credit card customers, still have a balance on the old Capital One card and pay on time and they are GOING TO RAISE MY INTEREST RATE FROM 6.85% TO 15.9%! That's ** any way you look at it!

I have been with Capital One for 7 or 8 years. My rate has been 8.99% for quite a while. I have EXCELLENT credit scores, as does my spouse. Two months ago, Capital One LOWERED my rate to 6.9%, and I thought that was due to my on-time payments and my great credit history. Today, I received a letter in the mail stating that they are raising ALL rates to 15.9%! That is outrageous!!! I called and asked them if their loans from the government are at the lowest in history. Why are OUR rates so high? The literature I received said that "due to extraordinary changes in the economic environment, we are reviewing our accounts, and we are raising rates".

I made a mistake in my $708.68 December bill by $2.00. They charged me $25.34 fees on my January bill. I paid the bill in full. They then charged me $16.24 on my February bill for a total of $41.58 in fees for a $2.00 error on my part. I have a 9.9% interest rate card and am never late. This won't break me, but how do folks who live very near the breaking point survive? If there ever is a class action suit or such, please count me in.

I just got a letter from Capital One stating that the interest rate on my credit card will go from my current rate to 22.9%. I have had this card for years and have only been late, maybe twice. The letter says I have the right to decline these changes, and if I do so, my account will be closed, but I still have to pay the balance. I am mad as hell!!! How can Capital one do this???

I made a payment to keep my credit card under the limit. Then the company applied charges to my account taking me over the limit and they applied more charges and kept doing so even after I had already made arrangements for this not to occur. I told the company that I could not afford the rip-off scheme that they were presenting and that I would only pay the amount of money that I borrowed and no more in the month of April 2009. I received constant phone calls from their company all hours of the day and night and they are becoming threatening. I am a nervous wreck because they call very early and very late. I get calls from them all day long it is disrupting my family life. I told them to stop the calls, that I will pay them in April. I don't have a job right now and my husband just got laid off. I will get some money in April and I will send it to them then. But they won't stop calling and I refuse to pay more than I owe!

Uncalled for and unfair interest rate increase due to Economic Environment. I'm a very good customer, pay on time and much much over the minimum every month. The customers shouldn't have to pay for the company's mistakes and shameless greed. My interest rate suddenly went up to 17.9%. This is OUTRAGEOUS!

I overlooked a payment, first time I can remember, so got late charges. I called on January 28, 2009, and they removed the late charges. They said if I paid $40 on the phone, I would be caught up until my 3-9-09 payment, and that the $40 included the February payment; that was with Chris. I asked several times if I was all caught up until March because I couldn't afford the charges. My payment is normally $15. Okay, I went on the computer to pay the March payment and it said I owed $80. They deleted the late charges again, but said I still had to pay the $80.00. I was apologized to by all supervisors because Chris had given me the wrong information, and there was nothing they could do. Chris, Michael and Cristol were 2 supervisors up from the phone answer; Kimberly was 3 up. I spent nearly 2 hours on the phone and got the same answer from every one of them. They all apologized for Chris, but there was nothing they could do. Thanks for listening.

I made a complaint earlier regarding Capital One raising our interest rate because of the state of the economy, and no fault of our own. We paid the account off in full and asked that they close the account. Today, one day after I paid the account in full, there is a charge for $17.54 interest, and they have re-opened the card. If you are actually tied to attorneys, why haven't these attorneys filed a suit against Capital One? Who do we complain to to rectify this crap?

On 5-15-08 at 4:00 pm, I called and spoke to Carlos at Capital One and was assured if I send in $232.73, my account would be paid in full and card cancelled. I am separated and husband used this card but my name is on it. So in good faith, I thought I took care of this and explained my husband was restrained from home and they were sending bills to him in AZ, so I never saw them; therefore, supposedly they waived late fees and told me to send $232.73 which I did and the check marked paid in full and posted to my bank on 5-19-08. Then this month, 2-09, I received a call from a collection agency. They sent back to Capital One as dispute. I called Capital One and they claim I owed them over $200. They stated after I paid the $232.73, there was $34 remaining on the account and I never received another statement as they mailed to ex-idiot in AZ where I told them not to send as he would not pay.

Like others who have used this venue to express their outrage at Capital One's issuance of the Change in Terms and increase in interest rate, we too have always handled our account responsibly, have a high FICO score, and have been told by Customer Service in India that the rate increase is non-negotiable. This is how we elected to handle the matter: 1. We opted-out. 2. To protect our FICO score, we contacted another company with which we have had a long term relationship and requested an increase in our credit limit with that company equal to the line we had with Capital One. 3. We contacted both of our state Senators in Washington and urge strong oversight of the TARP money received by Capital One since we, who are the tax base paying for their bailout, are the same people who have been notified of an interest rate increase of approximately 240%. 4. Finally, we have sent a letter to Richard D. Fairbank, Chairman and CFO (Capital One Financial Corporation, 1680 Capital One Drive, McLean, VA 22102), politely expressing our opinion regarding this idiotic decision to alienate their strongest client base. Perhaps there are others of you who will find this course of action effective.

I have had a Capital One credit card for about 10 years, signing on at that time because they advertised a 9.9% fixed interest rate. I was a loyal customer for years and as a mid to high income individual with sizable business expenditures, I flowed quite a bit of cash on my card. When I met my husband three years ago, he also had a Capital One card and his interest rate was also 9.9%. In the summer of 2007, our interest rates jumped to 13.99% and I regret to say that I did not call personally to give them my two cents about what they had done, but I did see that lots of people seemed to be making a stink about it on different blogs and financial websites, and that the media had picked it up as well.

Well after 10 years with this credit card company, I have finally had enough. Raising my rate from 9.9% to 17.9% was the last straw. This is not the first time they have done this. But it is the last time I will get a card from them.

I thought I was golden having a credit card with 4.9%. I always made sure I made my payments on time to keep it at that rate. Now I’m informed it’s going to 13.9%. So it didn't matter how responsible I was with this card; they got me anyway with their greed. I’m paying it off and paying cash for everything from now on. I’m done!

As with many people, Capital One raised my credit card interest rate to 24.99%. We have had this account with our business for 9 years and have only started encountering problems with them in the last 6 months. We decided to close the account, but we're having a hard time doing that! Capital One does not add their finance charges until the following month. So what happens is that we pay our balance in full and think that the account will now have a zero balance. But we get a statement the following month with the finance charge related to the balance from the previous month (the one that was paid in full long before the statement end date).

I'm being charged for a Capital One credit card which is under my name; however, I never had a Capital One card. I provided a copy of document your office requested for and I am still receiving calls from collection. Somebody, please help me out. I would never get approved for $3,000. I need history of charges and first billing address.

I have two Capital One credit cards. I received a letter today, as many others have, increasing my percentage rate to 17.9%. I have always paid on time. In fact, I recently had my rate lowered because of my good payment history. A company should never have the ability to adjust rates at will. There should be a law that prohibits this kind arbitrary rate adjustment. I’m paying more for services in tough economic times that were not originally agreed to and unable to close account because of the effect it will have on my credit rating.

They recently sent (and from my research, they sent it to nearly everyone) a change in account terms raising my rate from 8.9% to 17.9%. Some have said on the internet they were jacked up to as high as 29%. They are forcing us to either pay the new interest rates (I had transferred a balance with purchase rate to Capital One a few months ago but they do not consider that promotional, so it will also increase) or close the account. This is obscene and they should not be able to ruin our credit when we have been an outstanding customer and have excellent credit.

Capital One informed me they are raising my rates from 6.99% to 17+%. This is on a business card I always pay on time and I never really carry more than 10% of the $20000 credit limit. I talked to 2 people who couldn't speak English. Finally, the second supervisor (third idiot I spoke with) gave me the economy this and that... blah, blah, blah. I said that I was extremely aggravated that they got my tax money for a bailout and then now they are hitting me again from another direction. He claims they did not get bailout money which means they bought up toxic assets which is equally stupid. I told him, "You have two kinds of customers right now: Type 1, like myself who will pay the bill and then close the account and Type 2 who will rack up their card to the max because of this hike and then default. Either way, you guys will go down in flames." All he could say was, "Is there anything else I can help with?"

I received a notification that my credit card interest rate was raised from 3.25% to 9.99%. I have my original contract with Capital One. It specifies "Prime Rate for Life" and with that statement, that the rate will be changed only if the customer's account is not in good standing. I have had this account for many years and have never had a late payment. I have used the card because of the rate, which was better than other cards I have or bank loans. I do have a balance on the card of $9,500. This rate change is substantial, and I believe illegal, based on my original agreement with Capital One.

I received notice that my APR will be raised from 13.9% to 29.4%. I have had this credit card for a long period of time. I have always paid in a timely manner, and for the last few months, have paid it off completely each and every month. This is the only credit card that I have and I will be unable to get another once I cancel it.

I've submitted a complaint earlier about Capital One's rate hike. I transferred over $3,000 of debt from my credit union of over 10% variable rate to Capital One this month of February 2009. I got a notice from my credit union's variable rate card shortly after that, which downsized the rate to 9.5% on it. My credit union apologized for not lowering the variable rate sooner and has credited my account. Capital One Usury, anyone?

I became a member of Capital One credit card in 1997 for the going rate of 9.9 percent fixed. I've occasionally paid the balance in full in thousands of dollars. I'm currently using them now for revolving account of new house expenses. They raised the rates to 17.9% from 9.9%. I recently was requesting a transfer rate from a credit card to Capital One for 0% for six months and then the going rate of my current rate. I'm not too sure if all the terms would be legitimate to the agreement of 9.9 percent going rate. I've recently written a letter to their department about this increase. It is usury, in my opinion. Did they hire AIG **?

I received the same notice that many others are describing over the past few days. I am angry!

I checked my bank account this morning and there was an $81 authorized debit on my account from Capital One. I called Capital One to find out who authorized this payment and I was told by an account manager that the primary cardholder did authorize it at my home phone number at 8:32am. There are two problems with this. First, I was at work, not home at 8:15am, so there is no way I could answer my phone. Second, my landline is not working and all of my calls go directly to voicemail. The manager I explained this to said there was nothing she could do without proof because they gave me an authorization # so she would not give the money back. I did yell at her because there is no way someone at Capital One could have spoken to me and of course, there was no recording of this conversation.

I received notice yesterday that due to economic conditions, crisis, etc. that my interest rate would be increased to 17.99%. I opted out and my account will be closed. I have a balance and it will affect my credit score, but I won't pay that exorbitant fee. I do wish that Americans would take the time to research the Federal Reserve. I recently began researching them and let me tell you, they are not on your side. They are run by 5 banks. No one really knows which banks they are because they won't release it; they, repeat, are not on your side. Please research it. You will see that the Fed prints our worthless money, loans it to the Government, with interest, who uses it to bailout these banks (the case of TARP). We pay them an interest, then bail them out and then they increase their interest rates on everyone. Please research it.

I have had and used two Capital One credit cards - one I use for personal business expense (MasterCard) and one I use for personal use (Visa). The Visa I have had for nearly twenty years and the MasterCard for over 10 years. The MasterCard carried an APR of 9.9% with Rewards and the Visa carried an APR of 7.9%. I have never missed or been late on a payment and I usually pay well over the minimum payment due. My FICO credit score is 786.

My partner and I have had a credit card account with Capital One for about 8 years. It's always been current and in good standing. We're now retired and although we live on a fixed income, we have worked to maintain good credit scores which are excellent. For the 2nd time in about 2 years, Capital One is trying to raise the interest rate (from 9.9 fixed to 17.9 variable!) effective in May. When I spoke to an account representative, she told me this was a business decision on the part of Capital One due to current economic conditions and not reflective of our account history. (She also added that this 17.9% variable rate is the highest they are allowed to charge!) The only thing they'd offer was to change the new rate to 15.9% variable effective in September. This is just not acceptable.

As so many others, I received a notice of change in terms. My rate was 5.9% fixed, and it went to 15.9% variable. I have had my card for 14+ years and have paid it off numerous times from balance in the thousands of dollars. Not late and mostly paid over the minimum due. With a FICO score of 810, I am disgusted and revolted that this can be done. This country is in an economic crisis and it started with the financial industries. Our representatives should be making the new credit card law change effective immediately and not give an out to screw the taxpayers further. I will not accept the new terms. I know this hurts all of our FICO scores; however, keeping this card open would damage all of our credit scores even more.

I'm putting out a challenge to all the millions of hardworking, everyday men and women who are Capital One customers! Let's stop being sheep! I was told by their reps in India, of course, that over 50% to 100% of their customers received notification that their accounts were being increased, a lot! I truly believe 20-50 million sheep can take down an 800-lb. gorilla. Most of you sheep are smarter than I am, so use the internet (YouTube), a 42 cent stamp (while you still have money left) and anything else 20-50 million people can come up with to bring this gorilla down or at least make it cry uncle!

I have a business credit card account. I am a small business owner with a DUNS number. DUNS has not been receiving credit reports on my business. I called Capital One to find out why. The first set of calls, I spoke to Christopher, Ron, Tanya, and then was disconnected. The second set of calls, I spoke to Mary, Nancy, Mike. I told Mike I had been disconnected. He promised I wouldn't be. He put me on hold and then I was disconnected. Neither he nor any of the previous people knew what a DUNS number is and those a lot of time was taken up explaining that this is a business account, not a personal account (although they should have known that). My statements do reflect, after all, that this is a Visa business card account.

I received a letter stating that my interest rate will be going from 12.9% to 17.9% on May 1, 2009. Like so many others on here, I am a customer in good standing. I pay every month, on time, more than the minimum due; I carry a balance - unfortunately for me, but they love it. I have been a customer of theirs for at least 10 years. They even told me on the phone that I am in good standing with them. I can't believe that they are receiving federal bailout money and yet have the nerve to blame our economy for this travesty of justice. I am having a difficult time financially too and there is no bailout money coming my way! How can they be allowed to get away with this? What can be done aside from cancelling my account and reducing my credit score?! This just isn't right!

I just got the notice about fifteen minutes ago and it took me all of two minutes to close the account. My credit score is close to 800; I have never missed a payment and have had this card for 8 years. Capital One can take a flying leap! I will make sure that everyone I know or that I am even acquainted with does not do business with this ridiculous company.

They are increasing the interest rate on my grandmother’s card too. I feel sorry for all the other older people who have Capital One and do not understand the bill. My grandmother handed me the paper because it said important notice, but she did not understand what it said. I read she is going up from 13.4 to 17.8. I am definitely making sure her card will be switched over before April 2009. She makes sure the bill is paid on time every month for the past 5 years. And like the guy below, we played by the rules too and we get punished as well. And just a rule of thumb for you all, close the account yourself; don’t let Capital One do it because it looks bad on your credit. Not really, really bad, but it is better when you close the account.

Capital first sent someone else’s car note to my home back in September of last year. Thereafter, I started receiving an enormous amount of phone call at both my home and office. My office has a no tolerance policy for personal business. After writing, calling, Fed Ex and asking the caller what payment because all of my payments have been made and current. After contacting the BBB, I was stopped that October ‘08 payment was not received!

Massive interest increase due to economic times. Note: excellent credit rating, account in good standing and increase to 17.99%. Three months ago, it was 9.99, now 12.99 and moving to 17.99. Almost 10% in three months! I will have to close account. If government can protect companies, why not protect consumers from loan shark practices?

My credit limit has been reduced; my interest rate I am sure will increase and if I am not keeping up with my statements, I will find myself over the limit. Capital One is not giving me the opt out on this account which will affect my credit report and score. I have hardship issues due to the economy and trying to keep a roof over my children’s heads. I have been hit real hard. They were given help with bailouts; where is the help and justice for the consumer? Who is looking out for the consumer and these unfair credit conditions being inflicted on to so many like myself? With the limit set, my account will be in default and accumulated penalty charges will be added on. I was considering refinancing my home to get out of debt, but the banks are in no way being fair to consumers. I would love to hear from an attorney on what rights I have and what can be done.

Capital One raised my interest rates from 16.9% to 29.4%. I've never been late on my payment schedule. In fact, all my payments are early. Not only do they get bailed out by the US taxpayers, but the greedy monsters running that company want to extort more money from loyal customers. Should there be any class action lawsuit, I want to be involved.

I received a letter, about changes in my credit card, raising the spending amount and also interest rates, due to the amount on my credit card. I have had this card for 12 yrs. and have made on time payments above the amount due, for at least the past 5 yrs, having only one late payment last month by one day. After reading many posts on here, I realize that even if I was going to ask for lower interest rate, they will turn around and raise it later on. People who pay on time and more than the amount are being punished for those who choose to not make any payments at all. This is wrong and highway robbery and something needs to be done about it.

I got my letter for an interest hike last week as well. The pattern seems to be if you pay your bill on time, then you must be willing and able to pay more, right? We plan on making a major purchase this summer on credit through a finance company. I'll keep the Capital One MasterCard until that goes through so it won't affect my credit score, and I have no intentions of applying for any other loans for quite some time after this summer. I have one other credit card, so I'll cancel the card through Capital after that loan goes through. I've had the card for 10 years at least. I never had a problem with them until the last year.

On 2/17, I received change in terms notice. "Rate increase: 6.85 to 15.90%. Due to extraordinary changes in the economic environment, we're reviewing our existing credit card accounts. Having considered these economic conditions, your account's current purchase rate, and the length of time you've had this rate and account, we will be increasing your purchase rate. We are also raising your cash advance and default rates." (Oh, you are? That’s great, thanks!) I've never missed a payment in 5 years, and this is how they treat loyal customers. I'm forced to accept the new terms because if I don’t accept, it will have a significant negative impact on my FICO. My recommendation is to file BK and ** them just like they’re ** us. This is extrusion!

I've had Capital One for years and never used the card. I received a letter saying the default interest rate was going to 29%, and I called the number they listed to decline these new terms of service. End result? Card cancelled, who cares right? Wrong. I received a letter from them saying that they are cancelling my card because they have learned of my bankruptcy plans. These are bold-faced lies! My credit score has never been better! I have zero plans to file for bankruptcy.

I, like most of the previous people, have been targeted for this increase in interest on my Capital One card. I am currently paying 6.9% fixed but was told it would go to 16% in May. I have always paid early and more than minimum. My credit rating is in the high 700s. Needless to say, I told them to cancel it. I hope they are punished some kind of way.

I received a notice of account changes on my Capital One MasterCard. The notice informed me that Capital One was raising my interest rate from 13.4% to 24.9% as of April 2009, almost double. I have had this account for almost 10 years, have paid my account on time or before every month, and paid it off on several occasions. When I call to find out about it, I was told because of the current economic crisis and the current economy that they are raising all the customers’ rates. Customers that are already in the default rate of 24% are going to 29%. I told them this was not right and it’s not!

Like many other Capital One card holders across the nation, I received the interest rate hike notice. Capital One had always been my emergency card. I had used this account and paid it off over the years. However, I closed the account and have opted to take a hit to my credit instead of taking the chance that someone may abuse my account and run up the balance, thus hiking the rates up. I have a standing balance that I pay 4 times a month (in increments). I pay over the minimum balance. My interest rate is 8.5.

Capital One is increasing the purchase APR on my account from 8.9% to 17%. Also, it is effective 01/29/09 about 2 weeks before they even notified me. That is 8 percentage point increase. It is just crazy. It is companies like Capital One that continue the downward spiral of the economy. They make people that are already struggling have that much harder of a time. I personally will be okay but I feel so bad for people that had it increased to 29%. I will pay off my card asap and will never ever use that card again. In fact, I already cut it up. They are a horrible company and I wouldn't recommend anyone bank with them.

Like everyone else on the site, after paying both my Capital One cards on time and above the minimum every month, my interest rates are suddenly being raised significantly. In addition, on the card where I wasn't carrying much of a balance, they lowered my credit limit almost to the remaining balance and didn't even bother to advise me first. I received a letter a few days later explaining that I was carrying too much credit among other things, so they made the decision to cut my credit. Imagine my amusement today when I received a pre-approved offer from Capital One saying that since I am so creditworthy, I can take their pre-approval to my local car dealer and buy a car up to $30,000. These people are nothing more than thieves and should be stopped.

I have taken over many of my parents’ accounts including my mother's Capital One account. For whatever reason, the statement for her credit card didn't arrive and we have called several times to have a new one mailed out. Mom is from the old school that she won't pay a bill until she receives the statement. We have been promised the statement within a couple of days, and now it takes 14 days to arrive. In the meantime, Capital One has suspended the use of my Mom's card because she is 28 days late. I have explained over and over she is late because the statement didn't arrive. Capital One says that she should have known she owes the bill and paid it.

Capital One repossessed my car on 1/19/09 and overnighted a letter to my residence describing what the stipulations for reinstating my car and loan were. The next day, 1/20/09, I spoke to the Capital One representative about how to get my possessions that were left in the car and also that the money/ documents for getting my car back would be sent to them on or before 2/9/2009. However, the document from them stated that I have until 2/10/09 to send them the money and documents before my car will be auctioned off thereafter. The representative told me that my car possessions would not be able to be retrieved immediately, that they were taken out of the car and stored in a secure place, never indicating that I would have to pay a daily fee for their storage or the location of my possessions even though I asked several times throughout the conversation that day.

My rate also went up. I have been a customer for over 9 years, was never late, always over the minimum payment and never over limit. But they did try in the past to put me over my limit. All the credit card companies are doing the same thing. Shame on them. They are trying to hurt the people that are trying to pay their bills. They are the ones (Capital One) that have messed up with the bad loans and we are the ones that are getting the shaft. They need to go after the ones that did the wrong.

I have had a Capital One credit card now for many years. Today, I received a letter from Capital One stating a change in my account terms. They are going to jack my rate from 8.9% fixed to a variable 17.9%. The letter states that it is due to extraordinary changes in the economic environment. I have never missed a payment and I have never gone over my limit. How do these companies get away with this? All I can say is goodbye, Capital One. Never again!

I call to pay this account over the phone and for the past few times, I was told that I was late. So I decided to pay the account in full. Then, I received a bill stating that I owe two months’ past due bills. I called and spoke to a lady named Kitty who told me that was charged final charges that Capital One cannot remove. I have been a customer in good standing and pay all of my bills on time. However, I will not pay for a credit card’s final charges which I do not deserve. The balance owed on the account is $36, $28 to be paid by March 2, 2009. Please help. I would like this account to reflect a zero balance.

As with many of you, I also received the rate hike notice. They want to increase my basic interest by 4% and my cash advance by 6%. It's funny how the going blanket rate for everyone seems to be 17.9%. These are the same kind of rates charged to regularly delinquent or defaulting cardholders and are blatantly usury. I have only missed one payment in three and a half years. The contract does not allow a rate hike for a one-time mistake. They blame economic conditions for this. I don't believe that for a second.

They are raising my interest rates from 15.9% to 29.9%?! I will have to cancel my credit card and hurt my credit history. I only applied for this card to improve my credit score!

My Capital One Visa account was automatically closed due to bankruptcy, which my husband had to file. Problem is I had a credit balance on my Capital One Visa of over $120.00 and I have rewards points. Capital One refuses to send me my credit refund. It has been over seven months and when I call, I get shoved from one representative to another until the line mysteriously disconnects after 45 minutes of holding. I have attempted these calls about ten different times. Capital One Visa is withholding my money and rewards points, which I earned. I cannot estimate the amount of damage related to stress that they have caused me.

They increased the interest rate from 8.9% to 17.9%, an approximately 200% increase! I always pay my statement on time, or early. My payment is in full, or nearly so each time. I have charged thousands of dollars in service and products, just this last year alone. All are paid on, or ahead of time and never a minimum payment! My home mortgage is low; I have lived in my home for over 22 years, and been employed by the same employer for over 34 years. I have solid long-term bank/checking accounts that go back nearly 40 years. There is no excuse for this usury.

They keep calling at early and late hours even on Sunday and do not leave a message.

I have been disputing a charge on my account since May of 2008. I cancelled a trip and was charged travel insurance of $314.79 on a trip we never took. They will not give me the credit. Please help!

Capital One made a decision to raise the interest rate on my MasterCard from 6% to 14%. This change had nothing to do with anything I did; I have an excellent credit rating and my payments are current. Capital One is raising the rate because of the economy. After receiving thousands of dollars in taxpayer bail out money, now they expect people who pay their bills on time to pay more to make up for their losses? This is beyond outrageous. I am Latina and cannot help but feel this is discriminatory. If they are doing this to me, then I imagine they are doing this to thousands of people. I am outraged!

It seems a lot of other customers from Capital One are getting the same notice we received on 2/14/09. Our interest rate is also being raised to 17.9% from 11%. We also paid more than the asked amount but did run a balance. We were trying to keep our credit good but don't know whether to cancel out or keep going with the hope they may bring it back down. Ha!

I, like a lot of other people, received a letter from Capital One on Feb. 10, 2009. It informed me that my credit card annual interest rate was going from 9.9% to 17.95% on April 17, 2009. Cash advance of rate of 24.95% and a default rate of 29.4%. I've seen some stories on TV about Capital One really raising the interest rates on people, but it usually showed that they had missed three payments or so. Like other people on this website, I have made much more than the minimum payment. Next month, I will have my card paid off and will be cancelling it. I called customer service and was given the same spiel that other people have gotten is that “it is the way the economy is” and “the bank is having a tough time.”

I have had accounts opened in my name using my social security number only with Cap1 about three times now. I hassle to every degree trying to get them to close the account. I told them repeatedly I would never do any kind of business with them. Yet, somehow they keep reporting to my credit agencies that I opened a new account. I have no fraud with any other bank!

Like so many others I see on this site, we received change in terms notices regarding our two Capital One cards. Our rates are 14% now and they will increase it to 22% or 29% if we are late on a payment. I did a search for Capital One on Google and found a story about the bailout. Capital One is number 10 on the list of banks getting money. As of November 2008, they have received more than 3.5 billion dollars!

How dare they? I have been a customer with Capital One for almost 10 years. I considered this card my primary card. I have always paid on time (early, in fact) and always way more than the minimum payment required. I received a letter this weekend stating that my rate of 8.9% will be going to 17.9% in May. How dare they? They would rather lose a valuable customer than leave the interest rate to one that I originally signed up for? And one final note, the statement in the mail said, "Having considered these economic conditions, your account's current purchase rate and the length of time you have this rate and account, we will be increasing your purchase rate. We're also raising your cash advance and default rates. Wow. So they're punishing me for my good standing? I will never ever bank with them again. Ever.

Capital One uses tactics that I have not seen with any other credit card company before. They give you a credit limit. However, if you ever use the entire limit, you will be assessed an overlimit fee. Nowhere in any fine print does it say that fees will be assessed from day one, but that is what they do. Terms on paper are: you have a 25-day grace period before interest is accrued. Not so. Then there is the minimum amount due. Do not believe this to be what you owe! I had a limit of $500 on my card. I used it. On my very first bill, they assessed the interest and a $39 over the limit fee because the interest took me over the limit! They stated my minimum amount due to be $10. But when I paid that, I was still over the limit. It is a continuous cycle keeping me paying more and more.

Changing my rate to 13.9% for no reason except to rip off customers. I think they should be put in jail.

We also received the change in terms notices on our personal and business accounts. We have paid on time, held the accounts for over four years, and have FICOs in the upper 700's. We are choosing to decide to pay off the accounts and keep them, but never use them again as to not hurt our FICO further with closed accounts. Wide brush strokes increasing everyone's term limits without taking into account their personal records will not help Capital One stay a viable company. Capital One took over three billion of our tax dollars in November of last year and are asking us to ante up more. This does not include what they could be asking for during this next stimulus round. Good business does not mean humane/fair practices. Interested in helping with a class action suit if necessary.

I too received notice (as did a lot of other family members and friends) that my interest rate was going from 9.9% to 17.9%. I've been a long term customer with this company and find it totally unacceptable that they are getting away with this. I pay on time the full balance due on the charge. Senator Dodd and his group will be getting letters and emails regarding this latest scheme by the very people who are holding their hands out for bailout money. We cannot let this corruption go on. Enough is enough and I am not going to take it anymore! I too believe there should be a class action suit brought against Capital One. And if they received any of the bailout money, we want it back now.

I just got my notice of the increase from 5.1% to 15.9% after years of being a loyal customer. I canceled the card already and will never do business with these guys again. I feel for the people that cannot afford these ridiculous rates. It’s just perpetuating the death spiral the economy is in.

People, you are sheep. Capital One writes you and says that because times are hard, they are raising your APR from 6% to 15% (that was my jump). That is beautiful logic: a just and fair reaction to hard times is to pass the burden onto the consumer. Capital One is a huge corporation that can weather the hard times. Each of us is one person who is kicked in the teeth when our APR is tripled and our rates go up.

Add me to the list of customers who have received the rate raise letter (to 17.9%). Like others, I have had this account for years and have never missed a payment on any type of account. It disgusts me that Capital One was part of the taxpayer-sponsored bailout and is now abusing its customers this way. While Capital One's actions are morally revolting, they're not illegal. But I'll still be contacting the comptroller and my representatives, and I encourage everyone to do the same.

I have been a Capital One card member for 9 years. I have never made a payment late and in the last year, pay my balance in full each month. Honestly, I have hardly used my credit cards in the last 6 months. Like many others, today I received notice that my Purchase APR will rise to 17.9% and the default APR will rise to 29.4%. I won't even bother detailing the cash advance rate as I would have to be an absolute lunatic to even consider borrowing cash from Capital One. This is just outrageous. These actions by Capital One are going to ruin so many people who are already on the edge. And as already mentioned, if I close my account, my FICO goes down; thus they have me boxed in. I am truly ashamed to be a Capital One cardholder.

I received notice of Visa card rate going from a fixed rate of 6% to 15.99% or higher variable rate even though I have paid the card on time and never maxed out in 11 years. I have 750+ credit scores. I called and was told that I could opt out to be able to pay balance under my current terms and they would close the account. However, closing the account will mess up my credit by looking like it is maxed out until I pay it off. It is unfair and bad business to treat good customers this way and our credit should not be dragged down by them closing our account and showing the available balance as 0. It will take me several months to pay it off and until then, I am stuck. The new laws that congress passed should have been immediate, not 2010 to give the companies time to mess everyone up. Thank you.

I received the important notice of a change in terms today. I called Capital One customer service and was hung up on. I called back and talked with Rad in India. He got impatient with me, so I asked to talk to his supervisor and he transferred me. Denetta was American speaking and gave me the answers I needed. Basically, as of May 17th, all past purchases (balance on card not paid) and new purchases will be charged at 17.9%. The April 17 to May 17 timeline is for customers to pay balances off before the entire balance is charged at the new purchase rate. I suggest people ask for the supervisor. She was easy to understand, answered my questions, and didn't get impatient with me as Rad did. The last time I called, I was on hold for 45 minutes. No one ever picked up and the situation wasn't resolved. I sent letters to the Board of Directors at Capital One complaining about the hold time. I don't know if it worked, but at least I tried.

I received a notice in the mail raising my rate from 7.9 to 15.9 percent effective 5/1/09, unless I cancel by 4/17. I am a 10+ year customer, have paid off the card numerous times, maintain a $3k balance now and have a 700+ credit score! The reasoning I was provided was the difficult economic climate. No ability to negotiate a lower rate, so I'll be cancelling. Talk about an anti-stimulus plan. This puts funding my kid's college education in further jeopardy because this card was the safety net to pay for books, etc. I am fully planning on receiving similar notices from Chase any day now since once one vulture, blood-sucking bank gets a great idea to gouge the American middle class further, the others will follow shortly. From this point further, I will not use any credit cards and will continue to bank with my local credit union only.

A week ago, I received a notice from Capital One stating they were raising my rates from 9.9% to 18% due to extraordinary changes in the economic environment. I have been with Capital One since the early 1990s, and I figured it was worth a call to customer service to straighten out the matter. I made calls on two different occasions, both in India. The Capital One representative and his supervisor stated they had no authority to make any changes in the interest rate. When I asked if they were purposefully trying to get rid of customers, they had little response. Count me as one of the thousands of others that will close the account and never do business with Capital One.

They are raising my rates after almost 10 years of perfect payments and use of their credit? This company has got to be the worst of the worst as far as customer service. For ten years of on time payments, they are raising my APR to near 19% due to tough economic climate. Cry me a river, you scumbags. Are you taking our hard-earned tax dollars and enriching yourselves unjustly? Not only are they raising rates, my wife who did not use her Capital One card but had one with a $10k limit was stripped of it for no reason? Due to inactivity was what the paperwork said. When wife contacted Capital One and said she will use it and wants to keep it, they told her too bad. Are you serious? Ruin my wife's credit? For what, too risky, looks bad on their balance sheet? These guys are leeches and when everything turns around, you can bet any Capital One offer will be returned with a big fat middle finger attached. Deeply troubling is an understatement.

I just received the notice today raising my interest from 9.9% to the new variable 17.9%. I usually pay off the full balance every month, but last month, I charged an expensive car repair I planned to pay off over the next six months. My new plan is to pay it off before May, then never use it again! My wife also has a Capital One card. This month, she had no balance. She also received a notice, but it did not raise her purchase interest rate of 9.9%, only her default interest rate. Apparently, they wait until you have a large balance before they pull the ol' switcheroo. Thanks, Capital One!

Add me to the list of incensed Capitol One cardholders. I rec'd notice of change in terms on my account... which has a 0 balance. Rate increased by 8%!!! I called and spoke to supervisor who is Stepford Wife at Work. Change due to "changes in economy"… "to align Capitol One with other lending institutions", blah, blah, blah (!) and (this is rich) that they are anticipating a reaction due to these recently mailed Change in Terms Notices - ya think! This is CRIMINAL... What about the unemployed who are already struggling to meet their families’ needs much less put more $ into the hands of a greedy financial institution???

I received notice today that effective in May my rate is increasing from 9% to 17.9%. Completely unacceptable as I have been a customer for more than 10 years and always paid far more than the minimum payment and always at least a week before the due date. Usually as a matter of fact, I pay off the balance at least every quarter. Obviously they are attempting to gouge existing customers under the guise of economic distress. I think they have signed their death knell... but of course that won't happen because my tax money will bail them out. They need not worry that I will ever do business with them again. I will be contacting all my legislators to complain of this company's actions.

These are the stupidest and most incompetent people I have ever dealt with at a credit card company. They are so sleazy. Every person you talk to gives a different story. My credit card account had a fraudulent charge on it so I contacted Capital One to cancel the card and issue a new one. I never received the new one, and they told me that if I paid using my old account number, it would not be credited to my account. They wouldn't give me the new number over the phone and so I wasted three hours on the phone trying to make a payment on my account which I cannot make. What a bunch of morons! I am cancelling my card immediately.

I noticed that Capital One had added credit card protection to my card without my permission and they have been charging me since the day I started using my card. When I asked them to cancel the fee and to reimburse what they charged me, the representative told me that they would only reimburse the last three months and told me I could call a lawyer if I would like. He was smug and cocky about the whole thing. I have been trying to get the card paid off but they said that I went over limit which I didn't; but between the card protection fees and over limit fees each month, my bill is actually going up instead of down.

Well... this starts out as my own stupid fault. I was a sophomore in college with NO job and received a pre-approved credit offer from Capital One. As you can guess, I rationalized to myself that summer was coming up and that I could get a part-time job. So I got the credit card. It had a $300 limit. About a month later, my fiance's dad had a heart attack. He lives 14 hours away so we rented a car (using my card) and went to see him. We also paid for gas with the card. The balance was around $270 when the trip was over. I made the minimum payment until the middle of junior year when I began student teaching and did not have time to work. I will admit that I did not pay on the card regularly until graduation. I did pay sporadically, however.

Capital One was charging me credit protection on a card I did not use. I cancelled the protection several times, only to have the bills show up again overdue with new charges... and interest! Once, they apologized and issued a check refund. After that… the bills appeared again! Almost every time you call, you are routed to a call center in India who says the system is down and they cannot check. Sometimes you can call again, 10 seconds later, and get through. Finally, I got through and the system was up again. They saw the problem and fixed it again.

I received a notice by mail today that Capital One is increasing my APR from 6.24% to 15.9% in May 2009. I have always been on time in my payments and pay many times the minimum payment. I will likely decide to cancel the card so I can retain the lower rate. If I do so, I'll never apply for credit again with Capital One. Their treatment of loyal customers is outrageous. It is appalling the nerve of the banks, granting millions of dollars in bonuses to their executives and then crying about what a crisis they find themselves in. They should be ashamed of themselves.

My story is similar to others posted. After years with Capital One and an excellent record, I opened up the mail today to find they are increasing my fixed rate of 7.9% to 17.9%! Speaking to a supervisor was useless; she just parroted the same lame statement about the economic climate. As I told them, this is a blatant attempt to gouge customers before a new law forbidding such actions takes effect in July! I believe this action by Capital One deserves a class action suit. Did this company receive bailout funds? Capital One's behavior flies in the face of anything intended by Congress. Does everyone understand that cancelling our accounts immediately hurts our credit scores? I'm caught between having my debt substantially increased or my credit score seriously hurt!

Add me to the list of those who have received a notice from Capital One in the past week advising of changes to terms of service. My APR will go from 6.99% to a ridiculous, usurious 29.4%! This is not a textbook example of how to treat a 10-year Platinum customer with a FICO score of 760+ who has never missed a payment. I'm going to transfer my balance to another card and stick this card in the drawer indefinitely. This move absolutely defies logic. A reasonable approach would be to analyze the customer base, determine which customers should be kept as good credit risks in this shaky environment, and then make sure they remain as loyal customers. The sub-prime and deadbeat customers should be the ones who have their APRs raised. So long, Capital One. Btw, the President of their credit card operation is Ryan **. Feel free to let him know (tastefully) how you feel about this shortsighted policy. Perhaps they will rescind it in the face of widespread and articulate opposition from loyal and profitable customers. Cheers!

I have been in a dispute of charges that were charged to my Capital One account since Nov. 1, 2008. I have provided all types of information and documentation that has been requested in a timely manner. Each time I receive correspondence from them, they require something else, which I quickly provide. I kept calling the number which I also supplied you with, but the calls were routed to India and the language barrier was sometimes impossible. I also tried other Capital One numbers, but received a person in Nova Scotia, Canada. He told me that he would connect me with someone in the US that could help me. This call also ended up in India. The reason I am disputing the charge is due to a stay (3 days) in Key West, FL at the Best Western Hibiscus Motel.

After years of being a loyal customer, they have hiked my rates to 22.9% from 12.9%. I always, always pay days in advance and well over the minimum. I started with a 23% interest rate with the company back when my credit was in trouble. But after years of getting things on track, they lowered my rate to 17.9, then 14.9, then 12.9 and then boom, 22.9?! Are you joking me? I opted out of the agreement so I can continue paying my balance off at 12.9. I'm frustrated however because I viewed this as my primary card but now it is no more, and I will never again be their customer.

Capital One decided to raise my rate from 6.9% to 15.9%. They say it is due to unforeseen circumstances. I have never missed a payment and I have been a long time customer. This is going to make the economy even worse now. How can they raise rates over 100% on existing balances?

Today, 2/12/2009, I received a statement from Capital One informing me that due to the extraordinary economic environment, they reviewed existing accounts and will be changing rates. My rate, a fixed rate of 14.9% with an annual fee for nearly 10 years, is subjected to an increase of Prime plus 14.65% variable rate on purchases and transfers. Although I no longer have the terms/conditions statement that accompanied my card upon first opening the account, I do believe Capital One is putting to use what may be their ability to change/alter the terms and conditions at any time with notice. After looking into the current Capital One offers, I can only presume, because Jennifer, the rep I spoke with could not confirm or deny, that the action is being taken due to Capital One's mission to bring all accounts to current term/rate offerings.

I've been a customer of Capital One since I was 18 years old; I'm now 26. My credit hasn't been stellar, but even on SSDI (disability from a traumatic illness 3 years ago), I’ve made an effort to keep on top of my credit payments. This week, I got a notice that my interest rate is going from 23.15% (already exorbitant) to an unconscionable 29.4%. I will never deal with Capital One again. In a time where people are already struggling to make payments and living on credit and paycheck to paycheck, many of them on a fixed income, this is a disgusting misuse of their protection from usury laws. I have never been so angry. I hope Capital One goes bankrupt! I am taking a hit on my credit profile from closing the account because I will not agree to their new exorbitant terms.

In 2003, my wife died suddenly. We had two vehicles that we were purchasing. So I called Capital One and told them to come and get her vehicle. It was in mint condition and I had that verified by the man that came out to get it. I also took pictures for my benefit. A couple of months later, I received a letter in the mail from Capital One that the vehicle in question had been sold. Luckily for me, they sold it for the amount that I was originally purchasing it. It was approximately $18,000. Capital One acknowledged that the debt was satisfied. A couple of months later, I received notice from some outfit called Paragon Way stating that I owed Capital One over $9,000 for the vehicle. I told them I had been purchasing the vehicle for approx. $18,000 and it was sold for that same amount, therefore, I was square with Capital One.

One morning I attempted to use my Capital One credit card but the card was refused. When I called Capital One customer service, I was on the call for nearly a 1/2 hour being handed off from one person to another. The third person I was shuffled off to was identified as the 'Account Specialist Supervisor'. Once again I had to reiterate my situation to her (third time on same call that I had to restate my situation). She did a research on my account and finally came back and told me there was an error made by Capital One which resulted in my account being canceled and a new card being issued. I had no knowledge of this situation until I tried to use card. This caused me and the other two members on my account all sorts of grief... which is still ongoing because I have several automated billing accounts on my Capital One Account.

We did not receive the ordered merchandise from a company. We disputed the charge many times beginning on Dec. 2, 2008. They take off the charge then put it back on our charge account. We have been yelled at, hung up on and told they couldn't help us. The reason given was because we gave our cc number over the phone? We never authorized the high amount of the charge and never received a product in return for the charge. We now owe $275.00 for a product we never received. Capital One refuses to help us. We have had a hard time just finding someone who speaks English well enough to understand us.

Member since June 2001. They raised the interest rates to 29%, will not lower rates and work with me on anything! I am closing this account and will not pay it. I suggest we all do the same and send on their way in a sinking ship or we need a class action lawsuit to put these pigs in their place. Damage to credit, but in 2009 who cares? No one is getting credit for anything anyway since all the banks have free reign under Bush's laws.

On 2/09/09, I received a mail notification from Capital One entitled "Important Information Regarding Your Account." This notice informed me that due to extraordinary changes in the economic environment, they're reviewing our existing credit card accounts. They will be increasing my purchase rate and also raising my cash advance and default rates. I have had this card for over 10 years. On 1/09/06, I called and had my purchase rate reduced from 21.8% to 9.9%. My current purchase rate is 6.85% and Capital One will increase my rate to 15.9% after 04/17/09, unless I choose to opt out, close my account and pay off my balance at my current rate.

I had four Capital One credit with a limit up to $1,000. I got behind in payment due to income. Now, I owe over $4,000. I tried to include them in debt consolidation program but they denied payment. Now they are suing me and I have two civil judgements on my TRW Report. How can I get this matter resolved?

After having three credit card accounts with Capital One and two bank accounts, they sent a notice out of nowhere for my husband's two cards. They are raising his APR on one card by almost 15% due to economic conditions and raising the default on his other card for the same reason. We are good customers and we pay on time (maybe one late payment over the past few years). I am just amazed. They hopefully are going belly up and this is the reason they are doing something so ludicrous?! I just can't believe that they can rob and pillage people like this. They should be locked up with the rest of the thieves in this country. It is absolutely appalling that such a large bank could get away with this kind of highway robbery.

I paid off a credit card in 2005 from a divorce. The debt was sent to collections. I have copies of the cancelled check and a letter from the collection agency indicating the account was paid off. After countless letters and phone calls, Capital One refuses to contact the credit reporting agencies to clear this issue. I have now retained a lawyer (at $500) to see what he can do.

After being a loyal (never late) customer for over 12 years, out of the blue they are raising my credit card rate from 13.69% to 29% with no explanation given. I had just recently taken advantage of their low rate balance transfer offers too! I now have to scramble to pay this balance off or risk paying these insane 29% rates. I now have to go to extreme measures to get this card balance paid off immediately, which is not easy to do in this tight credit environment. I will never be a Capital One customer ever again. This practice could financially destroy consumers.

After finding that I had been charged about $200 in late fees, I paid the card off entirely in the amount of $514 which was what their recording said I owed. I paid online the same evening that I found out what their charges were. I called the next morning and found that the balance was still $514 and that my payment would not be applied to my account until the next day. I canceled the card right then. Today, three days later, I received mail from them that the terms of interest had changed so I called their service number to tell them that I had canceled the card. Now, I get a recording that tells me I can't cancel the card because I have a balance of $48. I called Capital One's fraud division to let them know that they were trying to rip me off. The lady did finally agree to drop that charge and cancel the card. It seems really dishonest to me for a company to try and charge these kinds of fees after a bill has been paid.

Capital One has announced that they are increasing their interest rates drastically to a much higher variable rate, even for those in good standing with good credit scores. I have always paid more than the minimum balance and paid several days in advance of the due date. My interest rate will be going up from a fixed 7.99% to a variable rate of 24.9%. This company is taking advantage of the consumers not abusing their credit. I believe this will result in bad credit and many consumers closing their accounts, or defaulting on their accounts. Now, I need to find another credit card company that will welcome my good credit standing.

Capital One is raising my credit rate to 17.9% because of the economic environment. They also changed it to a variable rate from a fixed rate. They will be adding 14.65% to prime. Did they not get bailout funds to compensate for problems they are having because of the economy? Can they get away with that? I have the option of closing my account, which I plan to do; however, I still have to pay the new fees on the old balance. My monthly credit card bills have gone up to my already negative cash flow.

Capital One raised my APR to an unimaginable 29%, for no reason. This account has been opened for 10 years and has always been in good standing. I do not carry a balance at the moment. I have a zero balance; because of this, a representative at Capital One said that the APR does not affect me and they cannot lower the rate. Economic result is that I have an account that cannot be used because of the possible consequence of carrying a balance at that rate.

As I mentioned in an earlier post, Capital One is raising, in my case, the APR by 80% on purchases (10% to 18%) and 150% on cash advances (10% to 25%). I have great credit and no blemishes, so obviously this card will not be in my wallet any longer. Also, so others know, when the card is canceled, they must allow us to pay it down/off at the previous rate (that cannot be changed as long as we cancel it). This information is in their notice as well. As consumers, we need to call and write anybody and everybody about what is a truly appalling conduct by Capital One (I am being diplomatic). Other banks may follow suit in an effort extort even more dollars from struggling families that may be living temporarily on credit these days.

I have been a card member for 10 years. My APR was 6.4. I was never late, and never missed a payment. The way Capital One rewards me is to give me a 15.9 APR with no warning. Because they cannot run Capital One correctly now, the good customers suffer. I hope they go out of business, and they will. I might not pay my bill at all with treatment like that. It is unrealistic to raise rates by 9% in one day. There are going to be problems in the future.