Advanta bank review: Excess interest charged 62

Advanta MasterCard did the exact same thing to me. Out of the blue they increased my interest rate from 8.99 to 35%. I had never been late with a payment as a business customer and I always submitted monthly payments hundreds of dollars over what they were requesting. I also spoke with customer service and then with a supervisor with negative results.

Their practices are unconscionable and would have thought unlawful. I will contact U.S. Consumer Affairs and lodge a complaint as well. How many people have to lodge a complaint before a class action can be lodges for corrupt business practices?

I am working with attorney Alan Finkel in Commack, NY who is working with some state class action law firms to seek action against Advanta. If your interested in particpating, please e-mail me at dec458@msn.com.

Can you transfer your credit to another card? I keep only one credit card so I don't know much about this, but I would transfer and send my business elsewhere.

I just got my bill with32% rate for cash advance and they said they can charge up to 39% UT. The feds max is 24 % and thats the IRS!
kced@comcast.net

AVANTA!

FDIC DEFINATELY WANTS MORE STORIES!
THEY ARE TAKING ADVANTA COMPLAINTS QUITE SERIOUSLY.

Many small business owner's now know that Advanta Bank
engages in horrendous business practices.

I am among those with a FIXED RATE ACCOUNT that was jacked from 7.99% FIXED to over 32%. 750+ Fico, No lates anywhere, etc.

You all know that same story.

But, what you may not know is how much the FDIC CARES about this.

I spoke with some high-up people at the FDIC and they not only know about it, but their regulators have been notified. They have expressed sincere and deep concern over this.

So PLEASE SPEND 5 MINUTES AND TELL YOUR STORY...THEY NEED THE STORIES TO JUSTIFY HARD ACTION!

GO HERE Right now: https://www2.fdic.gov/starsmail/index.asp

(Special Tip: Don't put any dashes in phone numbers on the form and make sure dates are in this format XX/XX/XXXX...)

48 hours later, call this special number at the FDIC: [protected] and verify that they have your complaint, POLITELY restate it and ASK for help. They DO want to help, but can't act without your story.

Be polite, clear, brief and specific.

I have heard, that just 200 more complaints, will trigger big trouble for Advanta.

Please go to this form: https://www2.fdic.gov/starsmail/index.asp and tell your story.

And more importantly, PLEASE take
HEART by remembering this heartwarming fact:

Advanta EXISTS due to a BANK CHARTER.

This is simply a DOCUMENT -- an AGREEMENT -- AN IDEA.

..and this DOCUMENT can just as easily be shredded as it was printed.

What is a BANK with NO CHARTER?
What is a BANK with NO LICENSE?

SEE THE LIGHT?

1.2 Million Small Business Owners, with sufficient motivation can find a way to have that Charter revoked Advanta.

So, Advanta Executives, Stockholders, Employees, Advertisers, Vendors and SUPPLIERS take note: Advanta BANK exists because the PUBLIC TRUST ALLOWS it to EXIST.

As the PUBLIC, we simply TOLERATE Advanta's existence.

If the PUBLIC is SUFFICIENTLY OFFENDED as to ORGANIZE its effort, we may choose to REVOKE the RIGHT (i.e. LICENSE and CHARTER) of this Bank and replace it with one of our choosing -- or none at all.

KEEP YOUR FOCUS...

A Bank without a license is NOTHING.

...and complain to the FDIC RIGHT NOW...It is EASY
and WORTHWHILE.

https://www2.fdic.gov/starsmail/index.asp

They truly need the clout of your story to act.

Best to you,
CreditCardJihad

Keywords: Advanta Sucks, Advanta Complaints, Advanta Stock Price, ADVNA, ADVNB, Advanta Lawsuit, Advanta News, Cardmember revolt, Advanta Failure, Advanta Taken Over by Feds, Advanta Fires all Employees, Advanta loses Bank Charter, Advanta Loses License, Advanta Earnings Report, Advanta 10K, Advanta 10Q, Advanta SEC Filings, ### Advanta, Advanta Screwing Me, Advanta Credit Cards, Bait and Switch, Advanta Raising Interest Rates, Advanta sealed their fate, Advanta Bank Financial News, Goodbye Advanta Bank, Advanta Fails, Don't do business with Advanta, Boycott Advanta, Advanta bank fails. Advanta shut down my regulators. FDIC moves against ADVANTA -- PUBLIC CHEERS!

Ps. Advanta Employees -- we honestly do love you. This is nothing do with you, but you must get rid of your maniacal management. Let them know that you can't support their policies and that they are killing the company. They are throwing you under the bus along with their customers. ORGANIZE!

Advanta Shareholders...ummm...it is up to you and everything, but this doesn't look good...may want to dump this crapper of a company. They are content to run it into the ground. Let's see, piss off all your GOOD customers and drive the regulators to shut you down...? Good strategy?

--CreditCardJihad

Exact same problem here. There are many references to Advanta on the net. They are running a bait and switch scam where they screen for high FICO customers then after a period of time and a balance has been run up, they switch to 30% rate for no reason. I hope to see these clowns sweating in front of a congressional hearing soon.

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.

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

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

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.

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.

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.

36% INTEREST ADJUSTMENT - Dirty Rotten ###. Luckily, I was able to transfer out. My prayers are out to those who can't.

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.

Same with my $26, 500 credit limit! Im in for anything to show Advanta is BAD!

I am a small business owner who was also a victim of Advanta. I am working with a group of individuals and a lawyer in New York in setting up a class action lawsuit against Advanta for unethical business practices. If you like to join our ranks, please contact me at:

ckblack@redowlpublications.com

Cary

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.

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.

their CEO is Dennis Alter, phone # is [protected]-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.

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.

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!

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.