capital one account management

I hve received a change in terms from capital one saying that my new interest rate can be calculated by adding 26.51% to the prime rate. And for what reason? It looks like capital one has really joined the ranks of idiots from another planet as announced by a Washington politician recently. How will this help any account holder get their account either paid off or keep in good standing, whatever that is anymore. I would think that instead of inciting an account holder to anger and disapointment over being screwed over by another big money institution that has gone thru all channels possible to solicit all these account holders to open accounts with them under the guise of a company that really cares about how they do buisness and how they will help their account holders keep their cost of doing buisness with them down. Oh well I suppose now they will be able to get some government bailout money and maybe even take some time to cash in their bonus or take a company sponsored trip for a well deserved rest after ripping off their clientel so openly and shamelessly.

Comment On This

I alos have a complaint about Capital One. I have had their credit card for 5 years at 6.99% APR. Just last week I received a notice that "due to the extreme changes in the economy and length of time I have had my card, my APR was being raised to 14.99% No other resaon, not for being late, not for missing any payments - just because IMO, after all that bail out money they received, they are just greedy and could care less about good customers! My option? To 'opt out' of the change and close my account. What I would like to do is 'opt out' of my payments~