WTF Capitol One Bandits

[Beatsworkin']

Check your credit card interest rates.

I got a notice that the variable rate will raise to 17.9 %
from my existing 7.3 % As of April 17, 2009
The Default rate is 24.9% if you are late 2 times.
I have had this company card for 20 years.
Seldom carried a balance, never missed a payment.
They see a way to take advantage of people relying on credit.

My wifes card went up 7% , she didn't even know it.

[seapower]

Sound's like the beginning of a new "bailout" to me. If the balance is paid in full at the end of each cycle, no problem. This will be the next wave of the "I didn't know because I didn't read the fine print". We DO NOT have to have credit card's in the first place, they are a convienence. Credit card's have to meet MY standard's. Don't like the term's don't sign, if they change the term's, pay it off and tear it up. Call them and tell them what you think of their new policy and don't look back.
Fact is some people or not "credit worthy", that's just the way it is. That's the way it used to be and it worked. Credit is a privilegde, not a right. You used to have to earn the right to be credit worthy, that system worked. If you sat across the desk from a bank loan officer and you didn't meet the standard's (that were there for a reason), maybe didn't have a down payment, it was explained why you didn't qualify. If you wanted the loan bad enough you went back out, saved more money, got your act together and saw him again. Again you earned the priviledge. Ah the good old day's. Frank

[clt_capt]

Unfortunately it is not just Capital One - most of the CC Banks are doing the same thing.

I am constantly amazed at the wisdom of our illustrious leaders - they can pass the ill-concieved bailout in less than a month, but the bill they passed to require Credit Card companies to notify customers in advance of rate increases doesn't take affect until July - Go figure...

[Big Fish Billy]

All my credit cards are 0% interest, wouldn't carry anything else.......

[Deep C]

Check your credit card interest rates.

I got a notice that the variable rate will raise to 17.9 %
from my existing 7.3 % As of April 17, 2009
The Default rate is 24.9% if you are late 2 times.
I have had this company card for 20 years.
Seldom carried a balance, never missed a payment.
They see a way to take advantage of people relying on credit.

My wifes card went up 7% , she didn't even know it.

I'm at BOA and the bastards do it to me twice a year on each of my cards... I call and complain and they say "ooops"... I hate what corporate america does that way. Almost every bill they send has other errors or add ons that I didn't order or authorize. Every single phone bill has mistakes always in their favor. Electric bill they some times estimate twice of what we might use then don't adjust when they actually read the meter without a "reminder".
Hell, even smaller guys seem to do it too. A mechanic I have used for years made a grand "oops"... the second time he did that he lost our business...
What sucks for me is being away for so much time is finding this crap months down the line...Then they take their sweet time fixing their own error...

[FXRScotty]

Yep I got the same notice. Just sent in half of bal. yesterday will pay off total bal next statement. Fug em & feed em fish. Scotty.

[JD5652]

I am fortunate that I went to credit card rehab a l-o-n-g time ago. Gotta have them for many things these days....car rentals....airline tix...etc.....haven't carried a balance on a credit card in a long time.....that's the best way to beat them at their own game .....

[neilinov]

The Somali pirates, renegade Somalis known
for hijacking ships for ransom in the Gulf of Aden, are negotiating a
purchase of Citigroup.

The pirates would buy Citigroup with new debt and their existing cash
stockpiles, earned most recently from hijacking numerous ships,
including most recently a $200 million Saudi Arabian oil tanker. The
Somali pirates are offering up to $0.10 per share for Citigroup, pirate
spokesman Sugule Ali said earlier today. The negotiations have entered
the final stage, Ali said.

"You may not like our price, but we are not in the business of paying
for things. Be happy we are in the mood to
offer the shareholders anything," said Ali.

The pirates will finance part of the purchase by selling new Pirate
Ransom Backed Securities. The PRBS's are backed by the cash flows from
future ransom payments from hijackings in the Gulf of Aden. Moody's and
S&P have already issued their top investment grade ratings for the
PRBS's.

Head pirate, Ubu Kalid Shandu, said: "We need a bank so that we have a
place to keep all of our ransom money. Thankfully, the dislocations in
the capital markets has allowed us to purchase Citigroup
at an attractive valuation and to take advantage of TARP capital to grow
the business even faster."

Shandu added, "We don't call ourselves pirates. We are coastguards and
this will just allow us to guard our coasts better."

*CITI IN TALKS WITH SOMALI PIRATES FOR POSSIBLE CAPITAL INFUSION

*WILL REQUIRE ALL CITI EMPLOYEES TO WEAR PATCH OVER ONE EYE

*SOMALIAN PIRATES APPLY TO BECOME BANK TO ACCESS TARP

*PAULSON: TARP PIRATE EQUITY IS AN `INVESTMENT,' WILL PAY OFF

*KASHKARI SAYS `SOMALI PIRATES ARE 'FUNDAMENTALLY SOUND' '

*Moody's upgrade Somali Pirates to AAA

*HUD SAYS SOMALI DHOW FORECLOSURE PROGRAM HAD `VERY LOW' PARTICPATION

*SOMALI PIRATES IN DISCUSSION TO ACQUIRE CITIBANK

*FED OFFICIALS: AGGRESSIVE EASING WOULD CUT SOMALI PIRATE RISK

* FED AGREED Jan. 29 TO TAKE `WHATEVER STEPS' NEEDED FOR SOMALI PIRATES

[Flatdog]

Bet they raised your credit limit at same time, Bastards !

[FXRScotty]

CANCILED!!!!!! FUG EM AND FEED EM FISH. THE BASTAGES.