Originally posted by: spidey07
Originally posted by: RedSquirrel
I always pay off my credit card at the end of the month.
But I did not think a credit card company could actually change a rate on you like that. That IS a scam imo.
If folks would just read the fine print on the member agreements, and any changes there is also a clause that normally says they can change the rate at any time for any reason as well.
Read the member agreement. It's in there.
Just a quick google reveals this as an advanta member agreement.
<a target=_blank class=ftalternatingbarlinklarge href="https://www.advanta.com/ADV/Apply/TandC.page?sourcecode=AM37">https://www.advanta.com/ADV......ge?sourcecode=AM37</a>
"In accordance with applicable law and the terms of your Card Agreement, we may change any of your account terms, including rates and fees, at any time for any reason. This means that your account rates, including any promotional rates offered, are not guaranteed; all account rates may be increased, fixed rates may change to variable rates, and variable rates may change to fixed rates. Any applicable rate, including any Default rate, applies throughout the entire billing cycle which contains the effective date of that rate, to both existing balances and new transactions and charges."