QuikTouch Automotive Appearance — Interest Rate Rip Off
Our family owned business has maintained a business Visa card with Advanta for some years. Our interest rate has averaged 12.49% during those years. Last month the rate went up to an outrageous 36%. We have had no lates, no over limit spending and our credit rating is 720. I called Advanta and spoke with an account manager. I got the same scripted answers as everyone else. I have filed complaints with the Arizona Attorney General's Office. I will also file complaints with an other agency that might help hold these crooks accountable.
Here's a thought: with all this bailout money available to banks that are in financial trouble, maybe Advanta Bank Corp. wants its account holders to default, so they can make a claim to some of this tax payer funded bailout money. Makes sense to me!