Advanta Bank Corporation Ripps off Small Business Again with High Interest Jumps Philadelphia Pennsylvania

I have had an account with Advanta for a long time with a 7.99% interest rate. They have just jumped my rate to 34.99% with no explaination.

I called and asked why it was jumped, as I have not had a late payment. I was told that their practices are confidential and therefore they could not give me that information.

I asked for a lower rate and after holding several minutes, the gentleman came back on the line and said no. I again asked why and he responded that he was not allowed to tell me.

This same basic senerio happened with Advanta several years ago. I paid off and closed the account.

The only reason I decided to give Advanta (for small business) a try again was that I heard they had changed their practices.

Apparently, they are great for a few years and then comes their Rip Off.

Linda
Memphis, Tennessee
U.S.A.