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IMO Advanta made a huge mistake when they quietly raised everyone's interest rates to 36% last year. My credit is spotless, so immediately I just transferred my remaining balance to another company, and I suspect that's exactly what everyone else with decent credit did... leaving Advanta with only the customers who didn't have good enough credit to leave. Do the math.
The insane thing is that I had Advanta as my business card for YEARS, with a balance sometimes as high as $12k, never was late on a payment once, and when they jacked my interest my balance was only around $1400. It was a stupid thing to do to customers with good credit.
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