Capital One .. What's In Your Wallet? "Nothing" Capital One Interest Rate Hike from 9.9 fixed to 17.9 purchases and 24.9 cash advance McLean Virginia

Richard Fairbank, CEO
Capital One Financial Corporation
1680 Capital One Drive
McLean, Virginia 22102

June 20, 2009

RE: Capital One VISA

Dear Mr. Fairbank,

I am writing you because I have been a good customer of yours for years. I have paid my bills on time for years.

As of April 2009, Capital One has increased my interest rate on my credit card. I never received any written notice for this change from Capital One.

I had a 'fixed' interest rate with Capital One of 9.9 percent for purchases and cash advances for years. And then whammo, Capital One nearly doubles the interest rate to 17.9 percent for purchases and 24.9 percent for cash advances. This is incredibly obscene and punitive.

I called Capital One Customer Service to ask why I am being punished with this rate increase. I was told that due to the economic downturn that Capital One must earn more money from its customers.

My husband and I are struggling to make ends meet. We are being forced to move from Arizona to New York because of the economic downturn, i.e. there are no jobs in Arizona. But I am still unemployed, still looking for work, and thus we are surviving on ONE income.

How could you do this to me and all the other people out there who are in the same boat as we are?

And your commercials that proclaim: What's in your wallet? In response I say: Nothing! Capital One has taken all of my money for their greedy profits.

In addition, Mr. Fairbank, every time I call Capital One, I reach a person in India. Sometimes, I cannot even understand what they are saying to me on the phone because their accent is so heavy and difficult for me to understand. And we scratch our heads wondering why there is an economic downturn. It is companies, such as Capital One, who have sent all the jobs overseas while Americans here in the USA are unemployed.

I am begging you to please consider looking at my account and readjusting my obscene interest rate to a reasonable' interest rate.

cc:

President Barack Obama Commissioner of Financial Institutions
The White House State Corporation Commission
1600 Pennsylvania Avenue NW 1300 East Main Street, Suite 800
Washington, DC 20502 Richmond, Virginia 23219

Andrea in the USA
Lake Placid, New York
U.S.A.