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Capital One Letter


ukaviator
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Hi Team

 

Has anyone else had a letter changing your APR due to changes in 'Market Conditions' ?..

 

I had a letter today saying that my APR is going up by 2.38%. On the reverse side of the letter there are 2 options.

 

1..Repay the outstanding balance in full and contact us to close your account. Destroy your card and make no further transactions.

 

2..Call us on 08452 340783 before APR 20th 2007 and inform us that you wish to pay back your balance at your current interest rates. We are open 24hours a day, 7 days a week.

Destroy your card and make no new transactions on your account.

Continue to make your minimum monthly payments until your entire balance has been repaid.

When your entire balance has been repaid, please contact us to close your account.

 

To me this is delayed retaliatory action. If anyone else has received this letter before or after a claim, can you post here. I am writing to the FSA about this. Normally when there is an inetrest increase they just notify you in writing of the changes. I have never seen a hike this big in one go and telling you on the reverse of the letter you have choices, both closing your account if your not happy.

 

Ukavaitor

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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urm

thats interesting!!! 29% too

i wonder if a letter asking to explain there actions might be in order?

 

dx100uk:eek:

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Is your rate 29%? .... that's the figure i have down

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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Hi ukaviator,

 

I received a letter just like that one at the end of October last year - before I had even sent off my SAR to them !

 

In fact, I had been considering reclaiming before then but it was receiving that letter that prompted me to finally send my SAR. It increased my purchase rate to 22.94% and my cash rate to 27.94% which annoyed me greatly !

I didn't think about writing to them as I thought I would get them back in the best possible way by reclaiming ! (Which is still ongoing !)

 

Just thought I'd let you know !

 

Capitulator

Tim aka Capitulator

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Lucky you lot. I got a letter this morning. My rate is going up 5% from 29.5 to 34.9!!!!!

 

I'll be paying the card off and stuffing captial one. I only have the blasted thing because no one will give me a debit card.

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It is best to get rid of it. If you can do without the card then chop it up and close the account. I have heard of people leaving the account dormant and moving. A yearly fee goes onto the account of £15. Then after one month of not paying it, fees get added. Late payment fees. Next month, interest and so on through the months..

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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