Advanta Bank Corp. Definite Bait and Switch Ripoff Salt Lake City Utah

Beware of Advanta's low introductory rates. Don't fall for it. The attractive rates are merely to lure in unsuspecting prey. This greed-driven company just raised my interest rates on a Business Platinum card from 7.99% to 34.99%...overnight. When I called to find out why, the rude customer service rep merely said that my account was one of many that had been "re-priced" recently. He would not give me a valid justification for the re-pricing. I have not been late on a single payment to ANYONE in more than 10 years, my credit score is "Excellent", and I have always paid substantially more than the minimum due on ALL of my accounts. It should certainly be against the law for someone to lure you into balance transfers with low rates and then turn around and raise those rates by more than 400% simply because they can. I have already written to my congressman and both senators from Utah to complain about Advanta's predatory and unethical business practices. I've cut up the card, will pay it off immediately, and never even consider doing business with them again.

Frank
Moab, Utah
U.S.A.