interest rates

I was in the same boat as you. For reasons that I am not going to
say, but I didn't make the payments. But I took the ball and ran with
it. And by that, I mean I got it paid off. Yes, the interest rates
are high. But it is possible to pay them off. Just pay whatever you
can. Or go to a Debt Consideration company. That is what I had to
do. They will work for you

I would call them and try to figure something out. As a person who
made a huge mistake in college with a credit card, I highly recommend
being on time with your payments. If they have an auto withdrawal
system I would use it. If they have online payment, use it. If you
can be on time with your payments for a while, they might lower your
interest. Being late is your problem.
But I do understand your issue. Sometimes they raise the interest
rate so high that it's impossible for people to get caught up.

If you play with the snakes, you are eventually going to get bit.

Get out of the snake pit, and never go back.

You are with one of the worst institutions, I believe, when it comes
to credit card interest rates. However, there really is no rate on a
credit card these days that is "reasonable". If you are paying 9% or
more, you are wasting your money and you need to get some counseling
or advice on how to pay off your debt. Good luck to you.

If you are already in trouble, and it sounds like you are, what about
working with a debt- management service? I've never done it, but from
what I understand they are a third party that can help consolidate
your bills to a more manageable monthly payment.

cookgirl

hmmm... maybe if you were responsible, you wouldn't be in this pickle
now would you? Let that be a lesson to pay your bills ON TIME!

and they wonder why people get into financial trouble????? You used
your card and got yourself in this hole. Take responcibility and read
your contract!!!

Capital One is not robbing you or ripping you off. You are being
charged the appropriate interest rate as disclosed in your account
holder agreement. Late payments equal high interest rates and if you
don't understand this then you should not be using a credit card.

Don't spend more than you have. Pay your bills on time. Learn to use
the "Shift" key.

you are late on your payments. Simple. I have never made a late
payment in over 20 years, and guess what? My rate never went up.

It is easy to see how you got into financial trouble: you started
making late payments.

The bank may think it is you ripping them off by not paying back the
money you borrowed on time.

I missed where you said what your darn good reason for being late
was.

I presume that you were in the hospital, unconscious, tied up for
weeks by kidnappers, or some other perfectly good reason for not
paying your bill on time.

If that's the case, you need to call them and explain the situation.
Be prepared to provide documentation showing that you were physically
unable to pay the bill.

I agree, a hike to 30% is crazy. But if you pay your bills on time,
in full, the interest rate is irrelevant.

Oh, and insulting them isn't going to win any favors. They have the
right, as per your agreement, to raise your rate. You need a favor
from them. Being a jerk and getting insulting is NEVER the way to get
a favor.

Didn't your mommy teach you that?

Congress is working on this, but it'll be a while before anything gets
done. The credit card companies start charging people so much
interest, they can't get out from under.

I do put a big part of the blame on credit card companies for so
aggressively growing their business and making it too easy for so many
people to get credit cards, people who, 30 years ago, wouldn't have
met the criteria for getting access to so much debt.

Yeah, I know, people need to be responsible for their own actions. I
just blame the credit card issuers more.

Your first line says it all, you were late on your payments so, yes,
they can raise your interest rate.

It's a shame but yes, that is what they do. See if you can get a
lower int. rate card and pay that one off if they won't work with you.

is why people get into financial trouble.
Companies sometimes drop interest rates, but not if you are late
making payments (and usually not when you call them rip-off artists).