I have a Advanta Business card for about 2 years and they signed me up with a low interest rate. Since that time unable to get a business loan I was using the Advanta card while building a spec home and low and behold I noticed my interest rate jumped to 26%.
I was fuming mad and called customer service about the issue and they explained to me that periodictly they look at you credit card activity on OTHER cards and if they see activity they can raise your interest rate.
This is criminal and anyone who has a Advanta Card should beware of this practice. First when I called I was talking with someone in India who I could not understand then I called back and when listening to the recording pushed the button as if my card was lost or stolen and amazingly I talked to someone in Pennsylvania!!
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