No. of Recommendations: 0
<<You're absolutely right. I actually have an Advanta card, (it was originally Household). I am going to call them to verify what I've heard. I don't see how they can 'introduce' this new fee to already existing contracts. The card is a no fee account, so there's no harm in keeping it... yet. If these guys are allowed to change the game on the fly, who knows what can happen. I'll let you know what the outcome is. I'm a person of strong principal... I cancelled my American Express over a 1.95 charge, so things
like this really make me irritated.>>

Many companies CAN change on the fly. They simply send you a "revised" agreement with one of your bills. On a small slip of paper. In fine print. That many don't read.

I was trapped like this not too long ago. I had a card that would allow a grace period from purchase to payment (i.e., no interest charged). And as Tony (TMF 2Aruba) has noted, these cards can be very valuable when you pay off you balance on a monthly basis: you get an interest free loan.

Anyway, one month I got an interest charge on my card (with a zero balance). I called, and they told me of the "change" that occurred: No more grace period.

I cancelled my card immediately.

So you're on the right road, Kelvin. Call the company and see what's up.

TMF Taxes
Roy Lewis
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