Capital one lowered my APR A TON!!!

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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Location: michigan

Capital one lowered my APR A TON!!!

Postby ryan1918 » Tue Dec 29, 2009 3:26 am

Okay so I've had credit problems, I went BK7 almost 7 years ago, I've had two capital one cards, a $300 and $750 never any limit increases, well over the past 4 months I've gotten over 12 cards, now I call capital one to check my APR and it went from 24.90% to 4.40% I was like NO WAY!! I actually hung up and called back to make sure, yes they dropped it that much, I was late once or twice, but I've been on time for 13 months it a row, and on the 13th month they dropped it, I wonder if I can expect to see a limit increase now?

I've also had my cards since 07-08, my transunion score was at 633, from all the recent hits and cards, dropped to 600 and over 2 months it is now back up to 614 I got a ton of inquires, like 28 total, 13 new, all old, 6 are dropping off over 3 months, a few bk7 accounts fell off and one more to drop off next month, a few more in the upcoming months, more score should be jumping up a lot soon..

I only have 5 MC accounts

Paypal Buyer credit $900
Cap 1 $750 + $300
Hooters $500
householdbank $400 was $300 increased $100 took 2 years.. I can't get a increase for nothing on this card, and I used it a lot.. apr went from 9.90% to 10.90% still good apr for now.. and one of my oldest accounts, called and they said this card doesn't really increase much so I'm wondering if its helping or not

all the rest are store, I got like 5 ge money accounts a few months ago, crazy

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Mogul of Pineapples
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Postby Mogul of Pineapples » Sat Jan 02, 2010 5:29 pm

24.90% to 4.40%, are you sure about that?

Not even American Express is offering that low of interest rates right now. I would be shocked if Capital One is doing that since they are more of a sub-prime creditor.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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