Daylight Robbery from Capitol One

[ffocus]

Hi all,

Thought I would just post something here which I felt was outragous.
I received a letter this morning from Capitol One stating the following.

Dear Sir, Your interest rate has now gone upto 34.99% (from 29.9%).
If you unhappy with this you have two choices.

1)Pay off the balance of debt and stop using your card
2)Pay off the balance of debt and close the account.

What a nice friendly company wiht such a personal touch.

This group is just exploiting the "High Risk factor" they put themselves in. Total and utter complete ******s!!!

[daftpunk]

Yeah i was having a read of this the other day, seemd they're all doing it. See link to bbc news below:

BBC NEWS | Business | Credit card issuers raise rates

[Kerrie78]

Yes. My husband got this letter this morning and my jaw nearly hit the floor when I opened it! He has a CC with them with £1000 owing on it, and I have exactly the same.
I actually emailed them about 6 months ago because I went on unpaid maternity leave and upon request they reduced my interest rate to about 14.9% to help me out. Is there any way that they can just increase it again if I have written confirmation of this?