Complaint / Review
Advanta Bank Corp
Raised interest rate to 35%

On my most recent statement I notice that my interest rate had increased from 18% to 35%. I immediately contacted customer service who informed me that this increase was correct. I was told that the increase was due to my previous payment history and my credit report.

I have never paid this bill late and I always pay more than the minimum payment due. I also have good credit. There is absolutely no reason for Advanta to increase my interest rate to this insanely high amount.

I did not received notice of the increase although their customer service representative claim I was sent one.

I look forward to paying the balance and closing this account.