Capitol One Visa Gold

Discussion in 'Credit Talk' started by jamie, Feb 2, 2001.

  1. jamie

    jamie Well-Known Member

    This came with my bill:

    Important Notice of a Change in Terms

    Effective March 1, if we do not receive your minimum monthly payment in full for 2 consecutive billing periods your APR for purchases and cash advances witll be changed to a variable rate of 25.0%.

    Pleasse remember that this rate change will only apply if you fail to make your minimum monthly payment by your due date. Otherwise your APR will remain the same.

    You have the option to decline the change in terms by notifying them in writing.

    I assume what they are saying is, if you skip a payment or are late. Your APR is going up. You must make a minimum payment each and every month even if you paid more than the min. the month before. And, I'll almost bet that if you decline, they'll close your account.
  2. Moore

    Moore Guest

    You Got It!!!
  3. sam

    sam Well-Known Member

    just about every card company is doing this now. If you become late, you pay 24+% rate!!
  4. Jim

    Jim Well-Known Member

    I agree with sam

    When I had a 15K Optima card a few years ago, they did the same thing.

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