posted on February 26, 2009 by DanNation

2.26.09 – 7:20 pm – Millbrae, CA

photo-1 On my way home from work, contemplating WHY THE FUCK CAPITAL ONE IS INCREASING MY INTEREST RATE FROM 14% TO 29%?

Due to extraordinary changes in the economic environment, we’re reviewing our existing credit card accounts. Having considered these economic conditions, our account’s current Purchase rate, and the length of time you’ve had this rate and account, we will be changing your Purchase and Balance Transfer Rate.

A variable rate equal to 29.4% as of 1/28/2009 will be applied to your account.

Shit! Anyone know any good credit card deals out there? And, yes, I know I should pay this off.

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http://www.spiritofsaintlewis.blogspot.com A Lewis

You’re not the first person to tell me this….and that’ll make your minimum monthly payment double! And a lot of people simply can’t do that. No threats or excuses are apparently working, either. I’m so sorry, Dan….that sucks big time. And, btw, I’m really digging that fuzz on your face. Looks great.
http://keepingitbrief.blogspot.com/ atari_age

Dan, it’s happening to pretty much everyone. I read about this starting a few months ago – due to the downturn. Finally got my notice (same thing, and also Cap One) last month. It’s not just Cap one, too. Citibank and others – they’re all doing it.

Answer – pay it down. I’m trying my damndest to to that now. Too bad therapy costs money.
JC

Try this site for good advise on financial matters: http://clarkhoward.com/

He also suggests this: http://clarkhoward.com/liveweb/shownotes/category/7/40/224/382/
3) One proven way to pay more toward the most expensive card – and to get rid of it faster – is to make a separate payment every 14 days to the credit card company. Mark your calendar every 14 days and write that check or send your online payment that day. Making a payment every 14 days equals one extra month’s payment you’ve made at the end of the year. Work these payments around your statement cycle to avoid paying lates fees.

somewhere on the site, he used to list the credit cards by interest rates.

On this episode, http://clarkhoward.com/liveweb/shownotes/2007/10/23/12807/
he suggests:
So what power do you have? Much of the time, you have the option to suspend charge privileges on a card in return for being able to pay off your balance at the old rate. But if you have other credit lines, vote with your feet by threatening to take your business elsewhere. Try pitting your lenders against each other to get the lowest interest rate.

Hey how are your Santa Fe friends making out? We were in Ruidoso this past week and I don’t see how the Ski area is going to last through/to Spring Break… the drought there is really bad. The news talks about the drought impact in our Central Tx area, but didn’t really appreciate it until we drove through W. Tx and NM.
http://www.nathanexposed.com Nathan

I’ll trade your Capital One for my Discover card.

I just got a bill today that said my APR was going to change from 9.99% to 54.99% in July.

Pardon my language… but 54.99 fucking percent?

These credit card companies have lost their mind.