Letter: Advanta Closing All Business Credit Cards
Image by BrettMorrison
This is the letter received today from Advanta announcing the closing of all business credit cards at the end of the Month. According to the Consumer Affairs blog, Advanta was having horrible losses.
You can actually read the letter text in the LARGE size photo.
The main problem of course is all the bills that are set to auto pay. I don’t have another business credit card to pay them. Therefore, I am forced to intermingle business and personal expenses which is a VERY BAD thing from a liability perspective since is it a method used to pierce the corporate veil. I’ll have to see if bills can be paid via check until we can sort this out.
And what is up with the auto white balance? That letter is supposed to be white! Proof once again why you should always shoot in raw. 
I just received a letter from Advanta, informing us that our account was also being closed. To top it off, our interest rate was increased to 35%!!! I could get rates this good, from a bookie in a dark back alley.
The credit card bill that was just passed for consumers, had an amendment killed, to also protect small businesses.
Please contact your Senators and Representatives and let your voices be heard.