Our company has had an ADVANTA business credit card for several years. Two months ago they decided to increase our interest rate from 17.49% to 24.99%. When I called to ask why they had done this, I was told:
We periodically revue accounts and increase the rates as we see fit. This is based on your credit rating and other criteria. We do not currently have any specials available to you, so that is your new rate.
We have been paying this company on time and often in substantial payment of $1000 or more.
Jack
Longwood, Florida
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