Advanta Complaint - The Kind Of Company That Contributes To The Mess We Are In
VIRGINIA -- Like others here I have a credit rating above 750, always paid our bills on time and always paid more than the minimum payment on a card that promised 7.9% interest "thereafter" and claimed to be small business friendly.
After one year without warning they raised our interest rate to 31%. I called - they said the same they said to others here - you can't do anything about it. The new rate is not just on new purchases but the entire balance. What other industry can do this - certainly we can't go back to our customers and say - by the way you now have to pay me 24% on what I sold you a year ago.
They are now advertising the exact same conditions to small businesses...beware - they have shown how small business friendly they really are!