Tilted Forum Project Discussion Community - View Single Post - Started a new facebook group aimed at predatory credit practices

Glory's Sun · 03-05-2009, 01:03 PM

not on facebook.. but

I have a capital one platinum card... nice limit and sitting at 7%. They just sent me a letter that I had to laugh at.

It started off with "The economy is bad these days.. we understand that people are finding it more and more difficult to make ends meet" (now I've never missed a payment and kept the balance less than 50%) they go on to say that "we have reviewed our credit policies and have decided that in January 2010, your APR will be moved to 17.9% on balances and purchases and a default rate (I'm guessing that means if I default on payment) of 29.4%"

I cracked up. Times are tough so here's a healthy dose of 'FUCKYOU!' I could understand if it was someone who had iffy credit.. but I don't.

So they gave me the option of not accepting the changes and canceling my account before January 2010 or to accept the changes. Guess which one I picked?

I've never had any issues with Cap.One, but this was just too much insanity to keep them as a creditor. Guess I'll be sticking with AmEx.

03-05-2009, 01:03 PM	#2 (permalink)
Glory's Sun Registered User	not on facebook.. but I have a capital one platinum card... nice limit and sitting at 7%. They just sent me a letter that I had to laugh at. It started off with "The economy is bad these days.. we understand that people are finding it more and more difficult to make ends meet" (now I've never missed a payment and kept the balance less than 50%) they go on to say that "we have reviewed our credit policies and have decided that in January 2010, your APR will be moved to 17.9% on balances and purchases and a default rate (I'm guessing that means if I default on payment) of 29.4%" I cracked up. Times are tough so here's a healthy dose of 'FUCKYOU!' I could understand if it was someone who had iffy credit.. but I don't. So they gave me the option of not accepting the changes and canceling my account before January 2010 or to accept the changes. Guess which one I picked? I've never had any issues with Cap.One, but this was just too much insanity to keep them as a creditor. Guess I'll be sticking with AmEx.