I have good credit and because my payment was late by one day, Advanta rasied my rate to 37%, an unheard of number which I find crimial. My understanding is they are establihed in Utah where there is no law governing credit card companys and the precentage they charge. Considering todays credit problems at an all time high, most fiancial institution are realizing that working with the consumer is good for both parties. Advanta is taking full advantage of their Utah location and I beleive this was always in their business plan. They should be sued and I beleive they will be. What goes around comes around. Send your attorney general your complaint and send one also to Utahs attorney general informing them of Adavnta's preditory practise.
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