# WTF Capital One?
**URL:** https://forums.speedlife.net/t/wtf-capital-one/159185
**Category:** NYSpeed Off Topic
**Created:** [August 17, 2010, 6:52am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185 "2010-08-17T06:52:14Z")
**Posts on this page:** 20
**Page:** 2
### Author:  [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)
#### Post date: [August 17, 2010, 10:03am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/21 "2010-08-17T10:03:35Z")
> [@95dime](#):
>
> why? i may not understand economics that well but i would rather have a little less in the bank and no debt then a little more in the bank and having debt. with how the economy is now, and the fact that its only going to get much worse, i really dont want to have any kind of debt, especially on a CC. too many people live outside of their means.
[http://tinyurl.com/26pu2px](http://tinyurl.com/26pu2px)
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### Author:  [@NYstanger](https://forums.speedlife.net/u/NYstanger)
#### Post date: [August 17, 2010, 10:09am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/22 "2010-08-17T10:09:39Z")
> [@boardjnky4](#):
>
> [http://tinyurl.com/26pu2px](http://tinyurl.com/26pu2px)
How about some cliffs instead…
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### Author:  [@MaximaSE98](https://forums.speedlife.net/u/MaximaSE98)
#### Post date: [August 17, 2010, 10:14am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/23 "2010-08-17T10:14:02Z")
i only use my capital one card for gas purchases…i always make sure to pay it on time…they will rape u …its my only card beside my M&T check card with Visa logo…
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### Author:  [@mike125k](https://forums.speedlife.net/u/mike125k)
#### Post date: [August 17, 2010, 10:17am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/24 "2010-08-17T10:17:34Z")
> [@Blue Eyed Devil](#):
>
> It is the new norm but this happened to me BEFORE the melt down. Maybe they saw it coming. :gotme:
Capital One did this to me about 2 years ago. I had a fixed rate 4.9% card with them, which I always paid on time, etc. I got a letter from them one day saying (in summary), “We’re not making as much money as the rest of the industry is, so we’re changing your rate of 4.9% to 21% effective immediately.” Needless to say I called and bitched unsuccessfully, then paid off my balance and told them to go to hell and close my account.
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### Author:  [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)
#### Post date: [August 17, 2010, 10:17am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/25 "2010-08-17T10:17:48Z")
> [@NYstanger](#):
>
> How about some cliffs instead…
rewards cards - this month I am getting 5% cashback bonus on restaurants, groceries and gas with discover card. I think last time I checked my rewards balance was over $100. Pay your balance in full on time and you won’t be charged interest. Oh hai mr. free money, nice to meet you. I got 5% cashback on my $800 mac mini too.
low interest - toss the cash in high interest savings, bonds, stocks etc… Then you can MAKE money while spending money
now, while you are building all of this fantastic credit because your credit card company loves you, you will see more benefits. When it’s time to purchase that nice new car, you can finally take advantage of those 0% for 60 months deals that car companies run every so often. More free loans that allow you to invest even more!!!
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### Author:  [@JayS](https://forums.speedlife.net/u/JayS)
#### Post date: [August 17, 2010, 10:33am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/26 "2010-08-17T10:33:18Z")
> [@mike125k](#):
>
> Capital One did this to me about 2 years ago. I had a fixed rate 4.9% card with them, which I always paid on time, etc. I got a letter from them one day saying (in summary), “We’re not making as much money as the rest of the industry is, so we’re changing your rate of 4.9% to 21% effective immediately.” Needless to say I called and bitched unsuccessfully, then paid off my balance and told them to go to hell and close my account.
^ This is the exact reason I don’t have a Capital One card anymore nor will I be financing another car with them (after financing the last 2 with them). 7 year account holder, perfect customer, fixed rate 5.99 jumped to 21% with the exact same letter and no late payments on my end. I went online, paid the current balance in full (which I did pretty much every month) and the next day once the payment had posted called and canceled the account. I wouldn’t let them transfer me to a supervisor in retention to attempt to save my account, so the next day a supervisor called me for the phone blowjob offering a reduced rate, better perks etc etc. I told them to suck it, and next time not to treat their good customers like random assholes behind an account number.
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### Author:  [@theblue](https://forums.speedlife.net/u/theblue)
#### Post date: [August 17, 2010, 10:38am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/27 "2010-08-17T10:38:40Z")
capitolone is the only card that I know of that charges no fees to use in canada… it’s the only reason I still have the card.
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### Author:  [@NYstanger](https://forums.speedlife.net/u/NYstanger)
#### Post date: [August 17, 2010, 10:40am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/28 "2010-08-17T10:40:12Z")
> [@JayS](#):
>
> ^ This is the exact reason I don’t have a Capital One card anymore nor will I be financing another car with them (after financing the last 2 with them). 7 year account holder, perfect customer, fixed rate 5.99 jumped to 21% with the exact same letter and no late payments on my end. I went online, paid the current balance in full (which I did pretty much every month) and the next day once the payment had posted called and canceled the account. I wouldn’t let them transfer me to a supervisor in retention to attempt to save my account, so the next day a supervisor called me for the phone blowjob offering a reduced rate, better perks etc etc. I told them to suck it, and next time not to treat their good customers like random assholes behind an account number.
If you really told him to suck it, that be amazing.
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### Author:  [@dubbin91](https://forums.speedlife.net/u/dubbin91)
#### Post date: [August 17, 2010, 10:53am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/29 "2010-08-17T10:53:11Z")
> [@95dime](#):
>
> why? i may not understand economics that well but i would rather have a little less in the bank and no debt then a little more in the bank and having debt. with how the economy is now, and the fact that its only going to get much worse, i really dont want to have any kind of debt, especially on a CC. too many people live outside of their means.
And you also don’t undertand credit very well, not all debt is bad debt. Also, if you pay your CC in full and on time every month you don’t pay interest or late payments. Also it builds credit faster than a loan does. Also with a loan you are paying interest on a depriciating asset in most cases, and if you use a CC an pay it off every month, credit is built quicker and with no interest.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [August 17, 2010, 10:58am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/30 "2010-08-17T10:58:11Z")
I just use a chase rewards card I pay in full every month. Haven’t carried a balance over a month in almost two years. Last year I received over $200 in free monies.
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### Author:  [@Fry](https://forums.speedlife.net/u/Fry)
#### Post date: [August 17, 2010, 11:04am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/31 "2010-08-17T11:04:02Z")
I think I’ve gotten back around $1k in travel expenses from my Capital One no hassle miles card, so I’m not about to ditch them. But they can still S my D.
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### Author:  [@JayS](https://forums.speedlife.net/u/JayS)
#### Post date: [August 17, 2010, 11:06am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/32 "2010-08-17T11:06:39Z")
My mortgage is with Wells Fargo so when they sent me their rewards card offer and I went over the details I jumped on it. 1% cashback goes directly to the principal of my mortgage. Set it up to autopay my monthly bills, daycare, use it for groceries, gas and internet purchases and that 1% adds up quick.
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### Author:  [@Wahoo](https://forums.speedlife.net/u/Wahoo)
#### Post date: [August 17, 2010, 11:28am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/33 "2010-08-17T11:28:16Z")
Credit cards suck, I can’t wait to pay off all my debt! lol
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### Author:  [@95dime](https://forums.speedlife.net/u/95dime)
#### Post date: [August 17, 2010, 12:40pm UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/34 "2010-08-17T12:40:54Z")
> [@dubbin91](#):
>
> And you also don’t undertand credit very well, not all debt is bad debt. Also, if you pay your CC in full and on time every month you don’t pay interest or late payments. Also it builds credit faster than a loan does. Also with a loan you are paying interest on a depriciating asset in most cases, and if you use a CC an pay it off every month, credit is built quicker and with no interest.
i probably dont. only economics class i took was in college with some indian lady that i never understood even when she was calling my name for attendance. didnt know credit can be built quicker with the cc though. ive only had one credit card and one loan before, and when i took the autoloan out they said my cs was a 728 and i had a 5.4% interest rate with no cosigner. so i figured im doing ok and didnt need to change what ive been doing.:dunno:
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### Author:  [@dubbin91](https://forums.speedlife.net/u/dubbin91)
#### Post date: [August 17, 2010, 12:52pm UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/35 "2010-08-17T12:52:39Z")
> [@95dime](#):
>
> i probably dont. only economics class i took was in college with some indian lady that i never understood even when she was calling my name for attendance. didnt know credit can be built quicker with the cc though. ive only had one credit card and one loan before, and when i took the autoloan out they said my cs was a 728 and i had a 5.4% interest rate with no cosigner. so i figured im doing ok and didnt need to change what ive been doing.:dunno:
Keep up what you are doing, I guess I should say faster which what i have read is true, but def. easier than a loan. Just make sure you pay it full every month so you don’t pay interest. You should pull your credit report every 4 months to take a look on what is on there. No need to acutally pull your score unless you are going to apply for a mortgaage or car.
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### Author:  [@evane](https://forums.speedlife.net/u/evane)
#### Post date: [August 17, 2010, 8:05pm UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/36 "2010-08-17T20:05:50Z")
> [@JayS](#):
>
> My mortgage is with Wells Fargo so when they sent me their rewards card offer and I went over the details I jumped on it. 1% cashback goes directly to the principal of my mortgage. Set it up to autopay my monthly bills, daycare, use it for groceries, gas and internet purchases and that 1% adds up quick.
REALLY… my new house ended up with Wells Fargo after all the dust settled (was sold 6 times in a 4 week period after closing)
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### Author:  [@walter](https://forums.speedlife.net/u/walter)
#### Post date: [August 18, 2010, 8:06am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/37 "2010-08-18T08:06:24Z")
Capital One is the progressive of credit cards. They specialize in low credit high risk people… hence why they are so prevalent on college campuses. Switch to someone else.
---------- Post added at 11:04 AM ---------- Previous post was at 11:02 AM ----------
> [@JayS](#):
>
> My mortgage is with Wells Fargo so when they sent me their rewards card offer and I went over the details I jumped on it. 1% cashback goes directly to the principal of my mortgage. Set it up to autopay my monthly bills, daycare, use it for groceries, gas and internet purchases and that 1% adds up quick.
I fail to see how this is any better than a card that gives you 1%+ cash back directly? I get up to 5%… if I wanted to put it towards my mortgage principal, I could… don’t see why this is advantageous unless they said “We give 1% cash back, unless you want to apply it to your WF mortgage, then we’ll make it 2%” or something.
---------- Post added at 11:05 AM ---------- Previous post was at 11:04 AM ----------
> [@Fry](#):
>
> I think I’ve gotten back around $1k in travel expenses from my Capital One no hassle miles card, so I’m not about to ditch them. But they can still S my D.
:tup: I get between $1k-$2k cash back per year…
---------- Post added at 11:06 AM ---------- Previous post was at 11:05 AM ----------
> [@Wahoo](#):
>
> Credit cards suck, I can’t wait to pay off all my debt! lol
STFU Dave Ramsey
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### Author:  [@Gl1](https://forums.speedlife.net/u/Gl1)
#### Post date: [August 18, 2010, 8:34am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/38 "2010-08-18T08:34:45Z")
Thanks for reminding me lol. last month i was a day late and got a $20 fee because of it… there used to be a 30 day grace period.
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### Author:  [@Joe](https://forums.speedlife.net/u/Joe)
#### Post date: [August 18, 2010, 9:45am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/39 "2010-08-18T09:45:15Z")
I find that being in an office with internet and free time every day does wonders for paying all of my bills on time. Plus I have autopay on the minimum payments on all of mine as backup :tup:
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### Author:  [@Harvey](https://forums.speedlife.net/u/Harvey)
#### Post date: [August 18, 2010, 9:51am UTC](https://forums.speedlife.net/t/wtf-capital-one/159185/40 "2010-08-18T09:51:28Z")
I got a really good rate for a capitol one auto loan. This thread is making me second guess using it.
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