What’s in my wallet? Not Capital One
Not after the mail brought notice of a future 29 percent rate on a credit card we’ve had for years.
Actually, that’s a threat, if we miss two payments between now and next January. If we’re good, the rate will only go to 17.9 percent.
As usurious as a near-30 percent rate sounds, Capital One is actually doing something unusual: it’s discouraging people from using credit cards, or at least from running a balance.
So maybe we’ll keep that card, after all.
Seriously. I cancelled my Capital One account several years ago. Not that many other credit card companies are much better. But that’s just one auto-bill-pay snafu away from a serious problem.
yes, autobilling is a pain in the neck. It’s easy, on the one hand. But every time you cancel a card, it creates ripple effects.