Capital One charges 70% interest?

Posted by Sam Glover on April 29, 2008 | Permalink

Boy I hope this is a typo. Click for the actual, redacted statement.

Capital One charges 70% interest?

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3 Comments on “Capital One charges 70% interest?”

1
DES on April 29th, 2008, 10:49 am  

The complete statement isn’t visible, but it appears to me that the $11.29 in finance charges probably includes $1.29 in interest at 19.9% plus a $10 fee, probably for writing a convenience/cash advance check. The issuer is required to include that $10 fee when computing the finance charge and corresponding APR to disclose on the statement.

2
ce_admin on April 29th, 2008, 12:16 pm  

I think DES is right. Just goes to show you how fast those fees add up.

3
Rick Vaughn on April 29th, 2008, 9:51 pm  

I want to say thats a typo. Good thing that you look at your statements. I know so many people that don’t look at their statements. Keep us updated there is no way that can be right.

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