Advanta Bank Credit card
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Category: Business & Finances
Contact Information
United States
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Advanta Bank Credit card Reviews
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lipppz
May 11, 2011
Interest Rate Increase
I had to leave town due to my father-in-laws illness, and missed a payment because my wife and I were so involved with the situation. As it turned out, my father-in-law passed away after a 10 days in hospice care. I returned home the day after the funeral and got a message on my answering machine about the miss payment. When I contacted Advanta, they informed me the raised my interest rate from 7.99% to 29.99%, even though I never missed a payment in the three years I had the account. The only way for them to lower the interest rate was for me to pay $2178.00. No matter who I talked to, they did not care. I am at a lost how a company can be so mean to someone who had to deal with so much and took immediate action to resolve the situation, especially since I have an outstanding payment record with Advanta.
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Lauren
February 3, 2010
They kick you when you’re down
Just when you thought Bernard Madoff was the biggest crook in the financial industry, watch out for these guys. Advanta teaser credit card rates WILL end up at 2-3 times the national average credit card rate!!! These people's GREED is amazing. Advanta teaser credit card rates end up at 2-3 times the national average credit card rate!!! Just have a bad month or 2 and late once (in other words just have a short term job or health problem) and without notice ADVANTA will pop the rate they charge you on your credit card balance to over 35%! …, How’s that for fair lending practices?!
Their cost of money, Federal Funds Rate ( the interest rate the banks like ADVANTA Get their money has never been lower (under 1%), yet they WILL penalize a long and well established small business owner with over 35% credit card interest…these ADVANTA people are like the greedy high school bullies… they kick you when you’re down.
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Robert
February 2, 2010
Awful experience
My office and myself have been in email contact with Advanta about the outrageous rate increase in our company credit card. I have written by mail the V.P. Brenden in Salt Lake City. No response to date. No phone call and in his first letter he stated he wasnt able to contact me at a phone number I have had for 18 yrs. We have had our business card for approximately 10 years. We managed to always pay on time, with more than the minimum due. Our rates have gone from 7.99 per cent to 27.99 percent. One payment was made one day late due to a log on problem my wife encountered. You also said your reason was due to change in usesage. However, you were not specific with what that meant. This is absurd. I demand that my rate be returned to the previous rate and payments we made since the increase be recalculated and credited against the principle.
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Plikke
February 2, 2010
It is just wrong
I didn't catch it in time and never received the opt out letter. I can understand being late on a payment to justify the increase but when you are a conscious consumer paying on time and more that the minimum amount it's just WRONG!!! Count me in class action lawsuit effort.
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Gollre62
January 18, 2010
Terrible rates
After years of paying on time, a good FICO score and NO delinquencies on my credit report, Advanta sent a notice that unless I write them a letter and stop using my card, the rate will increase to 32.69% PLUS LIBOR rate or 2.4%, whichever is GREATER! This means a new MINIMUM RATE of 35% or MORE! Let's all write our congressmen to STOP this madness. These rates are as bad as the 'vig' a loan shark would charge!
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Cazimone
January 18, 2010
Rip off
I have had my Advanta card for about 10 years. Never missed a payment, excellent FICO, excellent credit. Went to make my end of August payment and found they jacked mhy interest rate from 10.05% to 30.05%. Claimed they sent an opt out letter. Never received it! Payment went up by 3 times and interest up by 5 times! Filed a complaint with the BBB and closed my account. Fortunately got back the excess interest. I am now working with an attorney, Alan Finkel, in Commack, NY to try and file a class action lawsuit against Advanta. I have seen over 200 victims of this same thing. 2 lawsuits have been filed and won already against Advanta in Philadelphia. If you have been ripped off in the same way, please contact me at [email protected] to join our class action lawsuit effort. |
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Steve Leibovitz
April 28, 2009
Rate hike and fees
After offering a 9.9 % credit card and using it for my business, never late, always paid twice the min payment they doubled my rate. You can not get an answer from anyone when you call. Every one sounds like they are in India and uses American sounding names like John and Neal and Mary.
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July 22, 2008
Closing accounts as will
My wife established this account to help her with her small business. Note the word SMALL business. She has had the account in excess of a year. She has been managing her business well and has not used the credit card over the last 5 months. Yesterday (7/21/2008) she gets a letter advising her that the account has be closed due to ...get this...lack of activity! So you run a SMALL business well and do not live off the credit and the account gets closed! No wonder this economy is in the tank, there is nobody at home!!
DO NOT USE ADVANTA BANK FOR ANYTHING. I will get on every blog site, website, e-mail campaign, etc. to get this point across. Enough is enough!
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