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Advanta Informative - The Defense For 37% Interest Rates! - Advanta Business Cards
Advanta Business Cards
SALT LAKE CITY, UTAH -- I was a victim of the 8% to 20% to 34% to 37% interest rate jacking of my account. I was told, multiple times, that the interest rate could not be changed. There is a way, however.
I filed a complaint with the Utah BBB - I just received a letter from Advanta, if I close my account, my interest rate will return to the old rate.
FYI to anyone else in this trap - there is a way out.
I filed a complaint with the Utah BBB - I just received a letter from Advanta, if I close my account, my interest rate will return to the old rate.
FYI to anyone else in this trap - there is a way out.
Comments:
Posted by Sparticus on 2009-01-22:
So you have to close and re-open your account? Is that what they suggested? I wonder what effect that has on your credit report?
Posted by Anonymous on 2009-01-22:
If you close your account, you won't have to worry about ANY interest rate.
Posted by Sparticus on 2009-01-22:
That is exactly what I was thinking MissMarple... ;-)
Posted by tnchuck100 on 2009-01-22:
The account is closed for additional charges. You continue to pay the account off at the original interest rate. It is not re-opened.
Posted by Anonymous on 2009-01-22:
Excellent point, Chuck, and BEST ANSWER. Many people do not understand the difference between closing the account to further charges and paying off the account in full and then closing it.
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