Well, after reading about Advanta, I see that I am not the only one who has been ripped off by them. I received an offer from them in July which advertised a 0$ introductory rate until October and 7.99% fixed thereafter. They made good on the 0% rate and there were no problems until April when they arbitrarily raised my rate to over 20%.
I called and the rep I talked to said that this was due to their analysis of my credit report and spending habits, etc. She said that she could offer me a promotional rate of 14.99%.
Then, this month, they again arbitrarily raised my rate to 34.99%. I called and closed the account am I am now seeking a credit counselor to help with the unpaid balance.
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