Mr. Saver and I have just returned from our vacation, and while we had a great time with our family and friends, we were very happy to be back home in familiar surroundings (and with our two kitties).
I came home to a stack of mail. Wedged between the bills and the junk mail was an “important notice” about my Capital One credit card account. You might remember that in March 2009, I was notified that my 10.9% interest rate (the higher of my two cards) would be replaced in January 2010 with a “new purchase rate,” with the current rate becoming a “promotional” rate. But the February Capital One statement came and went, and I had yet to see this increase.
Well, this notice says Capital One has “decided to extend your promotional rate period for a second time” until January 31, 2011. Then, my APR would bump up to 17.9%.
Again, I have almost nothing on my Capital One credit card, but I’m pretty amused that they’ve extended my “promotional rate” because my business is important to them. As usual, I wonder how these credit card companies get away with these tricks — because to me, that’s what they are. Tricks.