Posts Tagged ‘ credit cards ’

Capital One: Low Blow to Low Interest Rates

October 19th, 2009. By LucyC

Capital One got hit with a potential class action lawsuit this week, and one guess what it’s about? Interest rate hikes on its supposedly low interest rate credit cards.

I would dare to hazard a guess that unless you live in a cave, you have likely seen one of the several Capital One’s ads promoting their low interest cards… you know the “what’s in your wallet?” campaign? Not a lot by the time Capital One is finished with you, from the sounds of things.

The back story is sadly, not unique, but rather the predictable narrative of deceptive business practices which appear to have become the hallmark of big banking.

Capital One, the suit alleges, raised interest rates on many card holders whose accounts were in good standing. Why?

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Tags: Capital One, credit cards
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