I have recently discovered that beginning in April 2008 Advanta has been raising my interest rate progressively since April 2008. I make my payments via bank transfer and found it odd that my balance kept growing despite my payments of greater than the minimums.
Here is the current progression of interest rate increases,
April 7.99%
May 19.99%
July 29.99%
Sept 33.08%
Oct 34.31%

And they were planning to raise it again this month. When I first contacted them I had to fight for this information and have since filed a formal complaint with the Utah Better Business Bureau. I called today and they say that they have sent me notices however I have never authorized any of these rate increases. Now, since they have been applying these fees to my account my account has gone over the limit and they are charging me over-the-limit fees too. I have alerted my attorney general and will continue to fight this unfair practice in any way that I can.
I am outraged over this credit practice and intend to bring them to account with a full credit removing all unauthorized charges and a large concern I have is for how this could impact my credit rating.
From what I have been able to determine from some limited research of my own Advanta was involved in a similar case in the late ‘90’s that ended with them losing a class action lawsuit.