I was shocked to see that Advanta had increased my APR to over 30%. I have paid faithfully each month and have usually paid over the minimum. When I emailed and then later called Advanta I was told they could do nothing for me. I don't believe it. I am frankly shocked that this was legal.
Advanta may have sent me something about the upcoming increase, I'm not sure. I know they did not warn me about how high the APR could get when I signed on. They liked the money I had sitting in my bank account. Now that I have been forced to use my credit cards more and my bank account is small and my credit is now fair instead of good, Advanta is apparently allowed to add exponentially to my APR.
I want to get out of debt. I will not be using credit cards and will somehow try to cover my expenses without them. I will continue paying well, but I don't see how I can ever pay off this balance at 30 plus percent. This kind of short sighted exploitation of a regular person doesn't just hurt, it may put people like me out in the street or force us into bankruptcy.
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