You know I was tryin to play HSBC this weekend into giving me a CLI on the Best Buy MC. I told her that I have had my CapOne for half the time and they've already increased my CL from 300 to 750, than she proceeded to tell me that's because CapOne took some bail out money from the government, is that true? And than she said that HSBC wouldn't except any hand-outs from the government. I really wanted to laugh in her face, cause I am sure if the government handed HSBC some bail-out money there wouldn't be any double-takes from the CEO about accepting it.... lol

I don't know if they (HSBC) did or not, but they just laid off 6,100 American workers so things aren't too rosey over there. Maybe HSBC did not take any TARP funds because they are UK-based.
It is true, Capital One did take "bail out" money, but probably not because they had to, but just in case things get worse.
I would have been all "no, it is because Capital One wants to keep their cardholders."

Ohhhh ok. Sometimes I feel so duuuh!

LOL, yeah, this one is a large, square shaped envelope and it says "Important Information Regarding Your Existing Account."

Ohhhh ok. Sometimes I feel so duuuh!

My father received one of those last week.

I think that is for future balance transfers. You know those purchase checks they always send? For me they are usually no fee but at my purchase APR. So for Rivas' account those checks for future purchases might be at the higher apr.

Ohhhh ok. Sometimes I feel so duuuh!
Mail man delivered a envelope from Cap1 today, and my heart went to the floor. Well it was just a "Preapproval Car Loan" promotion.

You know I was tryin to play HSBC this weekend into giving me a CLI on the Best Buy MC. I told her that I have had my CapOne for half the time and they've already increased my CL from 300 to 750, than she proceeded to tell me that's because CapOne took some bail out money from the government, is that true? And than she said that HSBC wouldn't except any hand-outs from the government. I really wanted to laugh in her face, cause I am sure if the government handed HSBC some bail-out money there wouldn't be any double-takes from the CEO about accepting it.... lol

So wait a minute, I am lost, you said the reason was due to economic times...and they are raising balance and balance transfers. So they took away the 3.99% that was offered to you? I see you stated above that they are raising it, but then they turned around and said "Promotional or introductory" will stay the same.

I think that is for future balance transfers. You know those purchase checks they always send? For me they are usually no fee but at my purchase APR. So for Rivas' account those checks for future purchases might be at the higher apr.

So wait a minute, I am lost, you said the reason was due to economic times...and they are raising balance and balance transfers. So they took away the 3.99% that was offered to you? I see you stated above that they are raising it, but then they turned around and said "Promotional or introductory" will stay the same.

22.9%??? Yikes. Approximately what is your bureau score like? I wonder what makes them raise some and not others?

Its around 640-660 across all 3. Thats due to inquiries that are about to fall off and high utilization. I have never been late on any card and dont have any crazy stuff on my CR.

I guess all the banks are doing this because of the increased default rates and higher cost of borrowing money........still, 22.9%?

The letter said "Having considered these economic conditions, your account's current Purchase rate and the length of time you've had this rate and account, we will be changing you Purchase and Balance Transfer Rate."

I am wondering if they are doing this to those who have high balances with them so they can make some money or give you a good reason to pay down much faster.

I have a balance of about $1000 and it doesnt bother me because its a balance transfer at 3.99% that I did a while back. The letter says "Any introductory or promotional rates on your account will not increase until they expire".

Good luck to you Meya!

I am wondering if they are doing this to those who have high balances with them so they can make some money or give you a good reason to pay down much faster. At least they are not comming at you like Amex.

Good point.

I am wondering if they are doing this to those who have high balances with them so they can make some money or give you a good reason to pay down much faster. At least they are not comming at you like Amex.

Good Lord! That is a huge increase. I think I might mase my mailman when he comes near my door. You guys are seriously freaking me out.

This is interesting, Captial One is one of the stronger banks right now so I am not understanding such high rate increases. I mean, 22.9% is like a default rate.

I guess all the banks are doing this because of the increased default rates and higher cost of borrowing money........still, 22.9%? Good grief.

Good Lord! That is a huge increase. I think I might mase my mailman when he comes near my door. You guys are seriously freaking me out.

I received mine a few days ago and im very disappointed with my APR increase.

My purchase and balance transfer APR was increased from 14.80% (which was reduced automatically about 2 months ago) to 22.90%!!! My CL w/ them is $3250.00. I have had this account since 06/2007 and started with a CL of $500. It was my fourth inquiry and 3rd account to get approved for when I started building my credit for the first time.

Oh well I still love them

22.9%??? Yikes. Approximately what is your bureau score like? I wonder what makes them raise some and not others?

^They did the same to mine. From 17.90% to 15.55%. I just recieved the letter yesterday that my rates will go up to 22.9%

I just had them decrease my APR from 17.90% to 14.90% last month.

They shouldn't even think about raising mines. My limit with them is at $4,550.