Friday, March 19, 2010

Capital One Interest Rate

Well, since my blog is one of the major forces in holding me accountable, I actually did call Capital One this morning to ask about getting my interest rate lowered. I had an interest rate of 19.8% (UGH!). After talking to the guy and having him praise me for having the account since 2002 and making my payments on time and blah blah blah he offered me a lower rate for six months. That's the good news.

The bad news: my rate is still 17.9%.

Seriously? I have good credit, I always pay my bill on time...and that's it? I mean, I'm glad they lowered it a little, but that still seems pretty ridiculous to me. Luckily this is the credit card I am the closest to paying off and I think I can have it done by May (hopefully!) so it's not the end of the world. But I am annoyed that after being their customer for eight years and having an excellent record with them they were only able to knock off 1.9%.

Is that normal? Is it a sign of the times that I can't get a lower rate?


  1. Unfortunately it's not the credit card company's job to be nice. It's their job to make lots of money. So they can compliment you as much as they want but the bottom line will never change. Boo!

  2. Touche Nicole. I guess I've just heard of people getting the credit card companies to match the rates of competitors to keep customers. Either I'm not convinving enough, times have changed, or Capital One is not very accomodating.

  3. Capital One sucks! go with Citi!! I use the Citi forward card, they actually lower my rate every month if I pay on time.