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Advanta Bank Corp. Complaints - Raised my interest rate due to banks error

Review all Advanta Bank Corp. complaints

Advanta Bank Corp.

Posted: 2008-09-01 by Harden  [send email]
Raised my interest rate due to banks error
Complaint Rating:  100 % with 1 votes
Company information:
Advanta Bank Corp.
United States
advantabankcorp.com

Here is what happened. I have a credit card account with Advanta Bank Corp. My bills were being delivered regularly for about 6 months. Then my bills stopped.

Here is what I found out. Someone at Advanta sent my bill to a non-existing address. Advanta has this information on file. By the time I found out what was going on, my payment was past due.

This was the only payment Advanta received late. It was due to their incompetence. Advanta is using this reason to raise my interest rate from zero to over 25%. Numerous calls to Advanta did nothing. It seems that they are concerned only with their new found income stream.

How many other account holders have had this happen to them also? I have decided to fight what I believe is unethical, maybe even illegal. If you are interested, I can send you information that I have. Thank you.
Comments United States Banks
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 444 days ago by B Thomas  [send email] 0 Votes
Same thing just happened to me. All my payments are sent in 10 days ahead of due date to avoid just this scenario. However, a couple of months ago, they state that one payment "mysteriously" showed up late. Therefore, they raised interest from 0 to 7.9%. Now, just got a statement showing interest at 22.9%. Calls to Advanta do no good. They state that "my history with Advanta caused them to raise rate." Latest statement showed last month's payment received one day prior to due date. However, their automated response system states that payment was received one day after due date. They need to get their ducks in a row to clean up this little scam they have going.
 373 days ago by Joey Mccarter  [send email] 0 Votes
Yes! You're not the only on. My rate went fomr 9.9% to 27.18%. Like you, they would give me no specific reason. Let's collaborate on how we can fight this "money grab" and see if we can find others - possibly a class action may be in order.

Look forward to hearing from you,
 371 days ago by Kelli Kerr  [send email] 0 Votes
MY MOTHER IS ALMOST 80 YEARS OLD AND THEY JUST DID THE SAME THING TO HER! WHAT CAN i DO? THEY WON'T EVEN ANSWER THE PHONE AT ADVANTA. HELP.
 30 days ago by   JAZman 0 Votes
Me too...mysteriously the address they had on file changed. Thought I caught this in time after noticing I didn't have an entry in my budget spreadsheet for on-line payment. Called and got a hold of someone in India...they faxed me the statement acknowledged their mistake, and credited me the $39 late fee - beware, they also tried to get me to provide my banking account number so that they could draw payment from my account...Next statement I got my interest rate went from 7.99% to 32.99%...page 4 of the statement says I'm in default and that even though this is a company card, they will report negative account performance to the major credit bureaus as I am the accounts Signing individual and agreed to be personally liable. Now I'm waiting on hold (again) trying to speak with someone to discuss my account. ...Used the Advanta card for my business which is now closed, owe $9K, typically have paid the balance in full during peak revenue seasonality (summer), never been late and have always made more than the minimum payment during slow times...Even if I continue to make minimum payments based on the 7.99% rate I had, I'll still be charged late fees and be in default...but the minimum payment (based on 7.99%) is all I can afford until I get back on my feet...certainly can't afford to be paying the "new" minimum payment...

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