News
Pizzeria owner takes on creditor over interest rate hike
September 16, 2009
Jim Tuckwell, who owns Pizza Gourmet Express in San Diego, has fought back against a rise in the interest rate on his credit line with Capital One, according to a story on the Web site of 10News.
Without warning, Capital One raised his interest rate from 8.9 percent to 17 percent. Pleas to the company's customer service center went nowhere.
Tuckwell then decided to e-mail Capital One CEO Richard Fairbank directly with his complaint. Fairbank, who co-founded the company, made $57 million in 2008.
The next day, Fairbank's assistant called Tuckwell and told him his interest rate would be reset to its original percentage.
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