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Advanta bank / Excess interest charged

1 United States Review updated:

Instead of the 0.69 rate offer, they charged 34% annual interest! This happened on two balance transfers months apart. Seems like a scam. After lots of waiting, they will correct the mistake, but the overcharge shouldn't happen to begin with.

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  • Mi
      15th of Jul, 2008
    0 Votes

    I have a credit card from them and was never late on payment . well in May I got my mounthly payment it had double and so did my interest it went from 9% to
    36% for no reason other then they want me to pay it off. TheySaid when I called them they have to omuch money out in loans. so now they want me to make a 1000 dollar payment with late fees. I don't know what I can do now I don't have that money in my budget. But I could have made the payments of 130dollars a mth I was paying on time.

  • Gr
      30th of Aug, 2008
    0 Votes

    BEWARE This company is out of control. My credit score is in the high 700's and I pay on time. They took me from 7.99% originally to 19.99%. When I called to complain they said only that it was a business decision to raise my rate. Well now they want over 35% and when I went to pay it off before I got hit it wouldn't let me pay the total amount off even though it said that the amount was below their max payment amount. So then I have to wait 3 business day to pay the rest off and get hit with another $60 in fee's. Call the BBB and complain about their web site and how it sets you up to fail to their benefit. Or go on-line to www.utah.bbb.org, then google Advanta Bank scam and read how they are doing it to many people!!!

  • Va
      24th of Sep, 2008
    0 Votes

    I also got raised to 25.08 from 7.99%. What a predatory group of thieves. They must think that someone with a credit score of 800, who pays on time and pays extra can't get credit from other sources. I'm not done with them yet. Of course, it won't do any good, but a letter will go to my state's attorney general and the BBB. At least I got to use their money for a year interest free. Idiots.

    I'm tempted to post the conversation I had with their "service rep" on youtube just for kicks. It sounded like the young lady on the other end probably took a lot of calls like mine because of her heavy sighs and frustrated answers.

  • Ca
      25th of Sep, 2008
    0 Votes

    Avoid Advanta Bank Corp. I have had a business card with these loan sharks for three years. Always paid my payment on time and over the minimum payment. They have increased my credit line over the past few years. Suddenly my interest rate jumps from 10.99% to 30.08%. When I called to discuss this matter I was given a rehearsed speech. Was told to check back in a couple of months to see if anything with my rating has changed.
    NO THANKS. I will pay this card down and never do business with these loan sharks ever. I don't know how they get away with these scams.
    THEY NEED TO BE EXPOSED.

  • Mi
      26th of Sep, 2008
    0 Votes

    their CEO is Dennis Alter, phone # is 215-657-4000-call and ask for him, I actually got his email and left him a choice message, of course the jerk did not return my call, but I did get some satisfaction-they raised my rate from 8$ to 25 without any notificatrion, I closed it but will forever bad mouth these jerks-their stock is around $5 now, was up around $27 less than a year ago, CEO Alter paid himself 3 million in 2008, and he is a big contributor to Obama, McCain and Biden-what comes around goes around, I say.

  • Al
      1st of Oct, 2008
    0 Votes

    Dont use this company. They are ripping off everyone. I had this card for 5 years. I Started from a 0% for 12 month and later on will be 7.99% in which I knew about it. Then suddenly they change from 7.99% to 21.99% without any notice.

    When I call them and ask why is that? They told me that the increase is due to the following:
    1) credit history, 2) back mortgage payments, 3) economical situation

    In which none of them apply. I spoked to the supervisor and he told me the same.

    Do not use it.

  • Va
      9th of Oct, 2008
    0 Votes
    Advanta bank - Rip off
    Advanta Bank
    United States
    advanta.com

    I was surprised when Advanta issued me a credit card with a 7.99% interest rate for up to $5, 000.00, after I had lost everything and had to declare bankruptcy. I thought it was a blessing. I had no idea Advanta had targetted me to rip me off. When my credit amount reached 95%, Advanta changed to 30.80%. All those affected must complain to Congress and demand a criminal investigation against Advanta Bank Corp. Also send your complaints to Fox News, CNN and MSNBC, plus file with your State Attorney General for fraud! Let's get rid of all financial predators! Email me use subject "Advanta".

  • Va
      15th of Oct, 2008
    0 Votes

    (RUDE SERVICE REPS AND SUPERIORS: ATTENTION Travis Dunson) Our company did a balance transfer a little over a year ago to a credit card with Advanta. We locked in a 2.99% APR rate for the life of the balance. Our relations with Advanta were so good the first year, we decided to to a smaller transfer of $3, 500 a few months later. We didn't get the 2.99% rate, but they did lock us down for 9.99%. We accepted and transferred the money. A few months later, we received a statement with a 20.08% finance charge. We were outraged. We were never informed of this rate increase (had we known we would have canceled the card immediately).

    We called Advanta immediately and were treated with such disrespect by the supervisor of the Salt Lake City, Utah offer, my boss was blue in the face. Travis Dunson was condescending and completely rude to my boss stating "We don't have to have a reason to raise your rate" I was OUTRAGED to say the least. Not only would he not give us a specific reason as to why our rate went up, stating they had the right to do it without informing us. Upon further talks in a second conversation (With a very wonderful and pleasant woman named Linda from the PA office) we were given the name of Travis (who would not give us his last name) and were told in more detail that a letter was sent 8/4/08 (we never received it and I am the most OCD person when it comes to mail- color coded filed, calendar of payments, etc...) they stated that due to the economic crisis they were raising rates in fear of delinquent payments (wouldn't you want to lower them then so people can pay more to you?)

    I would not recommend doing business with Advanta EVER. They have no respect for their customers and I think actually enjoy listening to people hurting from this crisis (Travis was certainly amused). Advanta is the worst company to do business for your small business. Based on the complaints I have seen on this website, I wish I would have read this site before we applied for it...

  • Mi
      15th of Oct, 2008
    0 Votes

    If you have been the victim of Advanta's arbitrary loan-sharking tactics, contact cloudcowboy@aol.com, he is an attorney in New York state and is gathering the names of interested parties to join in a class action lawsuit. The greed of Dennis Alter (CEO) of Advanta knows no bounds, and they need to be stopped from these practices-please email him, thanks.

  • Au
      23rd of Oct, 2008
    0 Votes

    You're right the company is out of control.

    Advanta just raised my business card interest to 33 percent. I had a balance of 15, 000. Had paid 4000.00 for payment last month with intentions of paying off by the end of this year. Always use the card in business transaction.

    After I called to complain and get my interest fee lowered. They told me they do not have a lower fee to drop back to.

    Well that's it for that card and company because I will be dammed if I will bail them out of their mess. I gave them a chance to change their ways. They refused so I went to the bank today and transfered funds to pay it all off. I will not use that card ever again.


    Forget Advanta.

  • Kd
      8th of Nov, 2008
    0 Votes
    Advanta Bank - High Rate on c/c
    Advanta Credit cards
    PO Box 8088
    Philadelphia
    Pennsylvania
    United States
    Phone: 800-705-7255
    advanta.com

    I have been a long standing customer with Advanta. My credit is good and I have no late payments with them. As of Oct. 2008 my interest rate went from 10.99% to 31.31%. I am a small business and am trying to make it in these tough times. To have this happen made me very upset. I spoke to a rep in Salt Lake City to see if they could lower the interest rate the answer was NO.
    This is outragious. I explained I own three homes all have plenty of equity, even in the current market. They did not want any part of this info.

    At this rate they will put plenty of small business out of business.

    One note the rep told me the reason the rate went up was because of the current market. I told the rep thank you for adding to the problem instead of helping.

  • Jo
      20th of Nov, 2008
    0 Votes
    Advanta Bank - Customer Ripoff
    Advanta Bank
    Costa Mesa
    California
    United States

    I do not have an Advanta card. All of a sudden a "Past Due - Defult" shows up on my credit reports from them. I contact them for info - all I get is payment demands. They will not/cannot even produce the agreement that I allegedly signed. Yes, I'm doing the ID Theft thing, but why won't these guys at least send me something with a signature so that I can prove that I did not agree to anything? Lame.

  • Ga
      22nd of Nov, 2008
    0 Votes

    I wanted to email you regarding they experience I had with Advanta. I signed up for an Advanta card with fixed 9.99%. 4 months passed and my interest suddenly went up to 25%. I've never been late on a payment and my credit score is 760. The customer service rep from India told me that due to economic conditions my rate would be increased. I was also, told that they sent a letter notifying me of the rate change but I never received any letter from them. I requested my account be closed and I mailed in the payoff amount. This is the first time I've come across a company that does thing like this. Something should be done to change their business practices. THE PEOPLE RUNNING THIS COMPANY ARE CROOKS. THEY OFFER A FIXED LOW INTEREST INTIALLY AND THEY JACK UP THE RATE WITH THE HOPE THAT YOU WON''T BE ABLE TO PAY IF OFF.

  • Ga
      22nd of Nov, 2008
    0 Votes

    I wanted to email you regarding they experience I had with Advanta. I signed up for an Advanta card with fixed 9.99%. 4 months passed and my interest suddenly went up to 25%. I've never been late on a payment and my credit score is 760. The customer service rep from India told me that due to economic conditions my rate would be increased. I was also, told that they sent a letter notifying me of the rate change but I never received any letter from them. I requested my account be closed and I mailed in the payoff amount. This is the first time I've come across a company that does thing like this. Something should be done to change their business practices. THE PEOPLE RUNNING THIS COMPANY ARE CROOKS. THEY OFFER A FIXED LOW INTEREST INTIALLY AND THEY JACK UP THE RATE WITH THE HOPE THAT YOU WON''T BE ABLE TO PAY IF OFF.

  • Ga
      22nd of Nov, 2008
    0 Votes

    I wanted to email you regarding they experience I had with Advanta. I signed up for an Advanta card with fixed 9.99%. 4 months passed and my interest suddenly went up to 25%. I've never been late on a payment and my credit score is 760. The customer service rep from India told me that due to economic conditions my rate would be increased. I was also, told that they sent a letter notifying me of the rate change but I never received any letter from them. I requested my account be closed and I mailed in the payoff amount. This is the first time I've come across a company that does thing like this. Something should be done to change their business practices. THE PEOPLE RUNNING THIS COMPANY ARE CROOKS. THEY OFFER A FIXED LOW INTEREST INTIALLY AND THEY JACK UP THE RATE WITH THE HOPE THAT YOU WON''T BE ABLE TO PAY IF OFF.

  • Va
      26th of Nov, 2008
    0 Votes

    Advanta arbitrarily increased an existing account interest rate which was started by a promotional invitation. The account was in good standing even tho the promotional rate expired, it was being paid down with no incidences. They said they sent a change of terms letter which was never received.

    First notice of this was on a statement which I called on immediately. No customer service rep was able to satisfy the request to withdraw the increase even tho they saw there was nothing wrong with the account. One rep suggested I opt out of the account, have it closed and continue to pay off the balance at the old terms. He closed the account, but they refused to allow me to opt out and continue to charge me these egregious interest rates even tho I am still paying on the account. The interest charges are more than I charge on the account and since it is closed have not made any new charges.

    In fact, there were very few new charges on this account to keep the balance manageable for payment on a timely basis. I take great efforts to pay my bills on time and honor my credit commitments. However, this is totally unfair and pushing me to default when I didn't want to do so. Very poor client relations and no contact to work out the terms whatsoever after repeated efforts on my part to contact them. They continue to ignore and charge rates I refute and totally disagree with and do not want to pay.

    I sent them a letter FAXED the day the account was supposedly closed to ask for a settlement amount which they didn't give so I gave them the amount expecting there would be some interest to settle, but now don't want to pay them at all any interest due to their poor business manners.

    The company needs to be reprimanded and consumers made aware of their habits which I see from all the [redacted]s already online.

  • Yo
      26th of Nov, 2008
    0 Votes

    This is the worst card in the market today. I you want to be ripped of your money get this card. Very rude customer service and non co-operative staff. They allow any merchant to charge whatever they like on your account and then it takes 3-4 months to get answer with so many letters that you will give up the claim. If you miss out on any of their emails they will not open the case.

    The Customer service is very egoic. They say we are enjoying their money. This was the last thorn and I cancelled the account. He did not seem to have any regret in cancelling the account.

    I will strongly say do not get this card if you want to keep you credit intact and do not want to get into a debt trap

  • Ma
      26th of Nov, 2008
    0 Votes

    Try 37.8%. These guy's are a complete scam. If you look around the net, and can get past all the ADVANTA ads and shills (about 3 pages on Google) you will see the same story over and over. Low intruductory offers. Short grace periods etc. My deal is the only online notice they will give is a few days. Everyone else give you options for when you want to be notified of a payment due except Capital One-another mouse house worth avoiding. Then, they slow walk the posting so you are a day late here and a day late there then-HELLO-37.8%. I'm informing the AG in Washington State and my Congressman. These folks are pure ###. Guess things are different in Utah. At least they must think they are. We'll see.

    Mark

  • Bu
      27th of Nov, 2008
    0 Votes

    Yes, i missed a payment when business was slow in 2007. It raised my rate and hit my credit! For the past year and a half, although business has been slower than ever I have paid on time. Oct '08 I decided to pay down $1500 of saved money on my Advanta credit line. They returned a letter Nov saying that Experien claims under unkown circumstances that my credit line has been brought down to less than half of what was available. I could have spent that hard cash on actual business expenses.

    It seems that Advanta is 1. unavailable online when you are trying to put a payment through during crunch times to pay 2. somehow affiliated directly with Experian although they will not admit it 3. too good to be true with low interest rates and are unavailable when you try to do good on your account 4. customer service unwilling to give business owners a break when trying to pay large sums of money owed to accounts as almost every other credit card would do.

    Don't go with Advanta credit cards. Don't believe the to-good-to-be-true mailers you see. With this economy, I wouldn't rely on any credit card company at this point.

    This is bs. You try starting a business only to have your good credit robbed from you.

  • Bo
      6th of Dec, 2008
    0 Votes
    Advanta Bank - Customer Ripoff
    United States

    As the complaints published before mine, I, too, was a victim of Advanta Bank's predatory lending tactics. They raised my interest rate to 39% and basically made it impossible for me to pay even the minimum payment due each month. Therefore I have had to default on this credit card. I hope there is a class action lawsuit against this company in the very near future.

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