Quote:
Originally Posted by Dee
Thank you for a most informative website. I recently recd some info on Advanta Business Card, and went searching for reviews when I came upon your site. My concern with Advanta is their statement, "...all of your account terms are subject to change. This means that your account rates, including any introductory or promotional rates offered, are not guaranteed.....We may change your account terms at any time for any reason....."
This sends up a red flag for me. Should I be concerned or is this normal for credit cards to put this verbage in their "Terms and Conditions"?
Thank you for your kind advice.
Dee
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Dee,
Your are absolutely correct. In the past year, they have been using this language to jack the interest rates on small business owners (over 200 that I know of - google advanta complaints). Most of the small business owners never received an opt out notice. I have seen two copies of their latest terms and they specifically say they can change any terms of the agreement at any time they want and any time they feel like it.
BIG red flag if you asked me.