I have been a customer with Advanta for last 3 1/2 years, my criedit limit is above 22k, for the last 3 1/2 years I have had the normal 6.99% interest.
Luckily for the past 4 months I have not had a balance on the card, the reason I haven't paid much attention to the card. So today I went to do a balance transfer from a 14% credit card tot he 6.99% Advanta card, only to find out that my interest rate had jumped 3 moths ago to an astonishing 24.17%!!! It had done that over one billing cycle three months ago. This was done without a notice, a phone call, email, or any type of notification.
Good thing and thank god I did not the the balance transfer that I was about to do of $19k to them. Glad, real glad I caught the interest rate before I did it.
I called, only to be told that a supervisor would call me back as he was too busy right now to talk to me at this time. I had asked for a supervisor as the customer service rep told me that he was an account manager he could not do anything for me at this time regarding lowering my interest rate.
My credit score has been 730 for the last year, have not had any big purchases, same job last 6 years, nothing changed and they did this.
I am closing my account today, as after reading usacomplaints.com doesn't look like they will do antying about it to lower my rate. And if they do it would go back up as they pleased fit after I transfer my balances to them.
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