Why Capital One (COF) will make Wall Street cluck

COF is going to get its losses back from credit card interest by moving from 9.9 to 15.4% for its "best" customers.

Not if we all cancel our Cap One credit cards like I am doing due to the hiked rate.

We are in a depression, I've been say this for the last
five years. Ask anyone who does not have a pay check coming in each week they are mentialy depress,
That is where the word depression comes from.
We have been living in a false economy since world
war 2. The home building business and the other big
businesses like Auto, hightech., and the war spending
is what kept the economy going. The other thing that
has been wrong, is prices and salaries are too high.
You know and I know the things you buy today is
not worth the money you pay for it. Any one should
know that what you have to pay for a car or a home
is not worth the money you have to pay for it, but
there are people that will pay the price. All peoples got
us in this mess, now let all peoples get us out

Capital One is now trying to recoupe it's losses by defrauding it's "best customers" with exhorbitant interest rate hikes. My fixxed 9.9% credit card rate went to 19.9% variable and with enough complaining they 'generously' agreed to increase it to only 15.9%. Worst of all, this is completely legal! I have paid off my balance and will allow the account to sit empty because if I were to close it, my credit score would decrease. Everyone impacted by this legal usury should zero out there balances and keep their accounts open. Let Capital One have the expense of maintaining them without a cent of interest income. From this point forward, I know "What's NOT in my wallet!"

I opened a secured Capital ne visa many years ago. Wen there were $74 worth of magazine subscriptions charged to my card without my approval, I complained. They said tough. So I stopped using the card. It was paid in full except for that $74 and the late fees and interest they charged me on that amount. They kept my $300 security deposit and have been harassing me for years over the balance they say I owe, which is now just under $1000 from that original disputed $74. They are a horrible company. So much for using a secured credit card to build credit. I'm a successful professional now, but I was a single mom on food stamps when that happened. there was no way i would have charged $74 worth of magazine subscriptions! And I never did receive any magazines which supposedly Capital One paid for on my behalf.

I opened a secured Capital One visa many years ago. When there were $74 worth of magazine subscriptions charged to my card without my approval, I complained. They said tough. So I stopped using the card. It was paid in full except for that $74 and the late fees and interest they charged me on that amount. They kept my $300 security deposit and have been harassing me for years over the balance they say I owe, which is now just under $1000 from that original disputed $74. They are a horrible company. So much for using a secured credit card to build credit. I'm a successful professional now, but I was a single mom on food stamps when that happened. there was no way i would have charged $74 worth of magazine subscriptions! And I never did receive any magazines which supposedly Capital One paid for on my behalf.