I am the president of a small business. Just like you my Advanta business line of credit card jumped through the roof. I have an excellent credit history with a score a few years ago as high as 813 from Bank of America and, as of a few months ago, 750 online. My business is 14 years old. I have NEVER missed a payment or been late on ANY card. I am a registered securities broker/dealer with an unblemished record with the SEC.
I called Advanta and was passed from a call center in India to a man named Glenn in Salt Lake City. He was cordial but explained there was a wide range of things Advanta looks at to make their determination and there was nothing he could do about it. I informed him it was theft and I wasn't going to pay a penny further unless they did something to adjust my rate back. I went on line and discovered others with similar experience.
This is destructive to small business people and should be criminal. I am willing to sacrifice my perfect credit history to stand up against these thieves.
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