[masraum]

Originally Posted by TerryH

Capital One is the best and the worst. They raise and drop their rates at the drop of a hat. I got notice today that my 6.01% fixed is going to "prime + 12.65%" in Januarry 2010.

Guess I pissed them off by carrying a 0% promo rate on $7k for the last 18 months and not using the card for any new purchases. LOL

We used to have two Capital One cards and we dropped the other a few years ago when they raised the rate from 6.99 to 10.4. Now we will close or zero this account next year when this latest rate kicks in January 2010.

As for credit lines, the 3 visa cards in my wallet limit at $70,100 combined. Those limits just sneak up-wards when you have the same card for decades.

Yeah, at one time we have several cards (I think 11 at the peak of our debt). Each of us had at least 1 with a very high limit (to me, probably in the $20-40k range) and the rest were fairly high (7500-15k). We got rid of all but 1 each. We've also requested the limit on the highest one to be lowered by 40%.

Unless you need that much credit, I'd close a card or two.