Advanta increased our interest rate from 16.74% to 36.31% for no reason.
We have not been late, defaulted and have always paid more than the minimum. When I called, I was told that in reviewing our business and personal credit, there could, maybe, possibly be the chance that we could default sometime in the future!
Our business credit is gold, and our personal credit solid. Basically we were penalized for paying our bills on time! I spoke with both the Salt Lake City office as well as the Corporate office and got nowhere.
This company is gouging paying customers to make up for the defaults. Beware! Even if you pay according to their terms, they increase the rates!
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