The complaint has been investigated and
resolved to the customer's satisfaction
Capital Oneovercharged


As with many other people (as can be seen on this website and others), I too received a mailing, very generic looking that only through luck I happened to open and read. The mailing is a Notice of Changes in Terms and advises that your interest rate is being changed - in my case from a fixed rate of 12% to a variable rate of 22.9%!!

When I called Capital One, I spoke to a very nice young man by the name of JD who stated he does not know how Capital One chose the accounts to make changes to but that I should not view the change as being penalized!

I thanked JD and then promptly closed my account. Everyone recognizes the economy is hurting but punishing those of us that have maintained a positive payment history for several years is not the way to improve conditions. One would think this company would strive to maintain relations during our economic crunch - especially when there are businesses by the dozen vying for our patronage!

I will no longer give my business voluntarily to Capital One! An increase such as the one they are forcing on their loyal and good customers is not a fair business practice and if ALL customers would respond the same we might be able to force change!


  • Dc
    DC1234 Mar 19, 2010

    Over charge, unauthorized charge. It's what they do best at Capital One.
    They posted a interest charge on my account when my account has a credit balance of ($87.xx). They charged me $25.20 for having a credit balance.

    Try file a complaint to

    0 Votes
  • Du
    dullandvoid Apr 21, 2009

    yep, like you i was never late per capital one on my payments but my interest rate was also more than doubled "due to economic conditions". most months i never even carried a balance on this card. in march i paid full balance to avoid their higher interest rate. now, in april i am being billed more finance charges from the time my bill was printed until the day my payment was posted. per 3 different csr's, from a foreign country, i am suppose to call Capital One before i send my payment and asked them what the payoff amount of my account will be on the date the payment i am about to make will be posted. 3 different customer service reps told me this very same thing. wow, they must be psychic because they can tell me in advance how many days it will take my payment to reach them. perhaps i should have them help me pick lottery numbers. numerous times i requested to speak to an individual whose native tongue was English and was denied.

    0 Votes
  • Gl
    Glen Mar 31, 2009

    I had an overlimit fee in February 2009 due to a past due fee for January 2009, which was in turn due to the change in APR - from 14.99 to 23.15. They increased my APR because 'due to current economic condition'. Obviously, they think that we, the people who are suffering from job loss and cut back hours just to still be working, ought to pay for their lost in profits. This is my first overlimit and past due in more than 2 years. I try to keep my payment on time (automatic online payment) and more than the minimum.

    While I would admit that it was my fault not to check the notification of the APR change, and I was fine accepting the overlimit fee of 39.00. My minimum payment that Capital One requested was $145.00. I paid $168.00. I thought that Capital One would have included the overlimit fee and the past due fee into their calculation of my minimum payment (which was increased from 73.00).

    I just looked online tonight and saw that they have charged me another overlimit fee of 39.00 and my balance is indeed still $72 over the limit. I am not sure how they calculate this and am now trying to research this and figure it out myself, before talking to them.

    I doubt that Capital One is doing anything illegal, but I believe it borders on scamming and robbing customers. Is there something that could be done to credit card companies from abusing their client base? It is obvious that something or some laws and regulations need to be administered to this credit card company.

    0 Votes
  • Ad
    A. Davis Mar 21, 2009

    I understand how you feel about it. I wouldn't want my awesome apr increased either. As far as if a lawsuit is possible, unlikely since the ability to change your terms is in the orginal application. The ability is the same with most card companies. If you typically pay off your account in full each month, then you don't pay interest anyway. If you don't you might want to look into using your card like a debit card, putting your monthly purchases on it and paying it off in full each month. You will avoid interest and also if you have a rewards card, you get rewards for using the card...more usage, more money/savings in your pocket. Also capital one has 100% fraud protection which is better than most card companies and your bank. Also if you travel internationally, Capital One is one of the only companies that doesn't charge an international transacation fee (with other banks it's normally 1%-5% on top of each foriegn transaction that posts to your account) so that right there can save you a lot of money. Just some food for thought about different things your card can do to actually save you money.

    0 Votes
  • Li
    littlebit Mar 18, 2009

    yep...I got the same letter. Once I was late. Once. My husband carries a capital one card though, and he didn't get that notice!?! I guess the economy must not be so bad for him? Grrrrr!!! Yes...I will pay off my bill and tell 'em to stick it in their ear as soon as I can!

    0 Votes
  • Le
    Lenny Mar 18, 2009

    I just received a notice today that my rates were being raised by 10% on my Capital One credit card. I have been a customer for about 8 years now with no lates or overlimit charges and yet they raise my rate by 10%. When I called and asked for the reason the person continued to give me a read response of due to market conditions... So what your telling me is that others are not paying their bills and since you have been paying yours on time for so long we figured we would let you help pay their bills to!! This is not what they said but in a round about way what she was trying to say. Even after talking to a supervisor I was told to pay off my card and use the opt out and then in about a month to apply for a different card and I could get one of their promotion rates. What kind of BS is that.

    Anyways after looking at Capital Ones home page new customers are getting rates as low as 9.99% well over what they are trying to change my rates to. This is ridiculous that they are doing this after receiving $3.55 Billion from the government. I can no longer continue to take the greed of these financial company's. They wonder why they got in this position this is why by purging the loyal paying customers and keeping the toxic ones. I am closing all my accounts with this company and will no longer have part in a company that does not care for itself nor it's customers. Their greed has deepened much like the oil companies hopefully our government will finally take a step back and let them fail to prove a lesson.

    0 Votes
  • Br
    Bradley Feb 25, 2009

    I just received in the mail a notice that Capital One credit card interest rate is being raised to 29.4%, April, 2009. I am never late on my payments. They charge a yearly fee also.. This is criminal that these Banks/Credit Card companies can do this to their good customers after they received Government Bailout Funds from the Taxpayers of America. I am sick of the Corporate Greed in this country and upset that the banks and credit card companies are GETTING AWAY WITH IT!!!

    0 Votes
  • La
    Lana Feb 23, 2009

    More than 5 years ago, I asked my credit card company, Capital One Bank Mastercard if I could have a lower interest rate based on my good credit rating and never missing a payment. I was given a rate of 5.9%, and told that rate would be in effect as long as I held a balance and had no missed payments. I had a balance of several hundred dollars and never missed a payment.

    I am now informed that my rate will jump to over 14%. They admit I never did anything wrong, they just changed their minds and need more money. In Feb of 2007 they did the same thing, having sent a notice that I would lose my 5.9% rate even though I was not at fault. My repeated complaints gave me the same reply- 'accept the new rate or leave'. Back then, my rate never was increased.

    Thats why I was surprised to have this same trick threatened upon me again. Could it have been a threat of lawsuits or massive complaints that stopped the rate increase back then? Can we stop it this time? If not, I will pay off the card and say goodbye to Capital One.

    0 Votes

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