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Capital One is jacking up credit card interest rates significantly (e.g. an 8% increase). Which cards are next?

Feb 10, 2009 by John S. | Posted in Credit

Due to "extraordinary changes in the economic environment" (as Capital One's notice to cardholders reads), interest rates on outstanding balances for purchases made with a Capital One one credit card (not balance transfers) will be going up

All the major consumer banks have already done this or are beginning to do this: CapOne, Chase, BofA, you name it. Citi just jacked the rates on both of my personal cards to a whopping 19.99%. They reduced the credit limit on my business card by 50%.

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