Advanta Bank just raised my rates from 12.67% to 34.99% on a Business Platinum Card... Overnight! I have never been even a single day late on any payment to ANYONE in the past 10 years. My credit score is "Excellent" and I have always paid substantially more than the minimum on every one of my accounts. Advanta ALWAYS received their payments at least a week before the due date. When I called to find out why they were screwing me, the rude customer service rep would only say that my account was one of many that had been "re-priced" as a result of Advanta "changing their lending policies." I would call it usury. I cut up the card and immediately closed the account. I've written to my congressman, senators, and the Utah State Attorney General about Advanta's Bait and Switch business practices.
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