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The good, the bad, and the ugly - discover what customers are saying about Advanta Bank Corp.

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2:38 pm EDT
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Advanta Bank Corp. unfair practices, harassment, dubious CSR, no communication within USA

What actions and/or rights can consumers take against this "Bank". All of the complaints cited previously have been my experience so I will not reiterate verbatim.

I am trying to work with them but they are unwilling to work with the consumer. When I asked one CSR to connect me with someone who could make some decisions because I had rights as a consumer, he responded with "SO WHAT". I asked him to repeat that, which of course, he did.

THAT, in a nutshell, is how they treat consumers.

I spoke with 5 CSR, all in India. When I requested (repeatedly) to speak with someone in the US, I was told that I had spoken with all of the call centers and CSR that worked for Advanta. I asked if they were all sitting in the same room in India. The CSR replied, 'yes'. He then hung up when I requested a phone number for the Administration and/or Bank's Board of Directors.

I fell hook-line-and-sinker for the 0% for a year, with a fixed low interest rate following that. With the initial line-of-credit of $10, 000 back in 2007 my payoff is at a mere $9, 400. The fees, interest rates, and fines are preventing me from getting ahead with this.

I know there has been a class action suit of which I received a small stipend with the judgement against Advanta.

My question: What can be done? Can anyone in the FDIC help? Is there a Consumer hotline or advocate to seek guidance and assistance?

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2:47 am EST
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Advanta Bank Corp. Closed Account on Long-Term Customer with Perfect Credit!

I have had a business mastercard with Advanta for over 10 years, have always paid on time, never paid late and last week they sent me a letter informing me that Advanta closed my account. According to the letter I received, "Our (Advanta) decision was based, in part, on the lack of activity on your Advanta account. In addition to reviewing activity on your Advanta account, we also reviewed information that a reporting agency provided to us, and this may have influenced our decision, in part.

As I have previously stated I have a perfect record with Advanta and in addition to that I have checked my credit report and I have a high credit score with no late payments reported from any of my other creditors!

When I called customer service to inquire further, it was obvious Advanta had outsourced their customer service support to India. After calming down and concentrating and talking slowly I was able to have some sort of a conversation with the customer service rep. It was very obvious quite quickly that the customer service rep was well trained to give short answers and to get off the phone as quickly as possible. Certainly not a very good feeling as a consumer who had caused absolutely no harm to Advanta and had in fact been an excellent customer in the past. As it turns out, I hadn't used my card for 2 years and so that was the reason given again and again by their Indian customer service rep. My response was that Advanta was not as competitive with their rates as some of their competitors who I had given my business to and in addition other competitors of theirs had rewards programs whereas my Advanta account had no rewards program. Again, the Indian customer service rep was in a huge hurry to just get me off the phone without a logical conversation repeating over and over again that the decision was made and there was ABSOLUTELY NOTHING that could be done about it!

Lesson to be learned---remember who screwed you, who abandoned you, who provided no good answers because when the economy turns around as it always does, Advanta and companies like Advanta are going to once again pursue prospective customers like myself and I'm going to tell them where they can stick it (a place where the sun never signs).

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Jim in Texas
Plano, US
Jun 03, 2009 10:26 am EDT

I received a letter from Advanta two months ago about rasing my rate almost six percent. I had perfect credit and saw no reason for that kind of increase, so I opted out at the old terms and closed my account. This had to be done by the 18th of May, and I opted out on the 15th. On the 20th, I received a letter that all Advanta card accounts would be closed. The bad thing about this is it was now too late for those who did not opt out to do so!

I feel badly for the people who did not opt out thinking they would still be able to use their cards. The incredible, blatant liars at Advanta knew they were closing, but weren't going to tell their customers they were doing so until after the opt out date of May 18th. These crooks knew they were simply going to gouge people for another 6 percent while paying off their balances. Which amoung us would pay that knowing they were going to close all the accounts anyway?

Advanta clearly duped its customers, most of us loyal and long term customers. I have filed complaints with the Federal Trade Commission along with Texas and Pennsylvania Departments of Banking. It's time crooks in the credit card industry are held accountable for their unscrupulous actions.

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6:40 am EST
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Advanta Bank Corp. Overcharged

The company increased my business credit card interest rate over 300% without notice and without any reasonable explanation as to why? I called to find out why. I was told that the initial credit card terms which I accepted (for me, it was issued 4 yrs ago and I could not find ), gives them the right to change the rate, without notification.

Reason given was my account balance was $1, 000 higher than last year (still well below my credit limit) and I had one late payment. I asked for a written explanation, which I have yet to receive. I have Fico Credit score in the low 800's, an outstanding credit card balance that amounts to only 15% of the total credit limit on my card.

I think this increase is at the least, Outrageous! and a perfect example of a 'predatory lending' practice, particularly in the recessionary downturn in our present Economy.

I plan on filing a complaint with my congressman and also writing a letter to the Los Angeles Times for publication. I'd be happy to join in with others in filing a law suit - if there is a legal basis for doing so.

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Valerie
, US
Dec 03, 2008 6:15 am EST

Advanta Bank Corp. raised the interest rate on my Platinum Business Card to 37.18% for purchases and 39.18% for cash advances. They have no reason for doing this. I pay more than the minimum due and pay on time. This is nothing but legalized extortion and these kind of practices must be stopped before our county's economy is completely ruined!

Ironically, my total credit available on my latest statement is $666

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8:52 pm EST

Advanta Bank Corp. Excessive Interest Rate

I have had a credit card account with this firm for two years. Recently they raised my interest rate from 9.9% to 27.18%. I have been current with my account and they report me as "Paid as Agreed" to the 3 credit reporting agencies. Their only reason was that they judge me to be a high risk - no specific reasons.

Can you help or p[oint me in the right direction!

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CSonne
Waynesboro, US
Jan 18, 2009 12:35 pm EST

I have had the same thing happen to me...never late only used for business- In December they raised me from 9% to 37%. I have decided to refuse to pay. They marketed themselves to me as a partner in my small business. I would fire any partner that did this to me. I no longer am buying into the bs of "oh my god my credit score". When they call- which is everyday, at least three times a day- I only answer once every three or four days. I say exactly this " I am absolutely not paying you 39% interest. I care too much about my business to do this. I remind them that they are suppose to be my business partner...they then offer "to remove the late fee and interest that has accrued" I say that would be fine as soon as they fax or email me a statement that they are lowering my interest rate to a humane amount. They then tell me that I am in collections (this was at 1 day past the due date! boy are they desperate) so they can't offer me anything until I am current. I then hang up...maybe if everyone that has paid on time refuses to pay the cards that do this to them ( i think this would be a massive amount of ) They would have to do something...if we all get hit on our credit ratings I guess they will just have to adjust this too...or maybe we should learn the lesson and stop using credit with credit companies that have clauses that say that they can raise our rates to anything at anytime with no reason...get a business line with your local bank tied to the prime rate etc. Ok I feel better...I am going down with my rating but it almost feels great not to care anymore.

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brenda korte
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Nov 20, 2008 2:22 pm EST

they just did same thing to me. i went from 7.99% to 31.38%. paid on time, more than min amount due. said they were under no obligation to tell me their reasons. contact the FDIC as they are a member at [protected]. I've contacted the attorney general and an attorney. They told me i wasn't using my card enough for business practices since it was a business card so we went on our vacation and used it and they quadrupled my interest rate and tripled my minimum amount due.

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Bill
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Nov 14, 2008 7:11 pm EST

Advanta did the same to me. I too have a excellent credit score/history with more than minimum payment and no lates...I was raised to 36% for no reason what-so-ever. I contacted customer service and they told me that they could not do anything at all. They give you a 0% starter, then a low rate for a short while, then increase the rate to an unreasonable level. This is WRONG! I have filed a complaint with the FTC...which I dont think will go anywhere due to the wording in the Advanta contract that we signed when first opening the account.

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John
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Nov 13, 2008 3:09 pm EST

Advanta is spiking my rates too.

try submitting a COMPLAINT at

https://www.ftccomplaintassistant.gov/

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Lynne Richards
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Nov 12, 2008 9:20 pm EST

Advanta did the same thing to me...I had a credit score over 700, never been late on a payment and I went from 7.9% to27.99%. I called them and pitched a fit. The oriental customer service agent would apologize and said that something must have changed and they would evaluate my account in 90 days. There's nothing I can do about it either...that's the sad part.

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5:30 pm EDT
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Advanta Bank Corp. Unethical

I have never been late on my advanta card and have great credit. They just raised my annual percentage rate from 7.99% to 30.9%. When I asked for an explanation they would not give me one, they just said it was based on a review and could not give specifics. All they could tell me was it was based on a periodic review. Not only did they screw me over, there customer service is lousy and the representative was yelling over me.

I am so pissed and don't know if this is ethical and if I can report them for this.

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BOBBY BOYD
Philadelphia, US
Feb 04, 2010 8:11 pm EST

I AM TRYING TO GET SOME INFORMATION ON MY CASE.I ALLREADY HAD MY HEARING IT WAS LAST YEAR WHEN I WENT TO COURT. MY NAME IS BOBBY BOYD MY ADDRESS IS 4934 1/2 KERSHAW STREET. AND MY E-MAIL ADDRESS IS bobbytoni@clear.net .I WOULD LIKE YOU TO SEND ME A PHONE NUMBER WERE I CAN CALL FOR THIS INFORMATION. I HOPE THAT YOU CAN HELP ME THANK YOU VERY MUCH.

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cloresident
Clearlake Oaks, US
Jan 28, 2009 12:30 pm EST

I was going to open an online CD account with this bank til I read a few of the complaints. Even though the complaints are about credit card interest, I'm not interested in doing business with a bank that treats their customers like this.

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Farley Grossman
Las Cruces, US
Jan 13, 2009 9:33 pm EST

I too was surprized to one day find my 7.99 APR jumping to 25.8 APR. No explantaion.

The higher rate applied to EXISTING debt as well as new debt. What a rip-off!

I made at least two payments a month and always 7 to 10 times the minimum, and then some.

The clown in Utah Office said the review covered many points and covert company policy
he was not at liberty to reveal to me.

I addressed my complaint to the CEO in Hassirburg, PA (headquarters);
Draper, Utah customer service office;
The Attorner General's office in Penna., Utah, New Mexico;
Senator, Congresman, FDIC; FTC and everyone in my address book.

I was very fornutate to have a savings account bigger than my credit card debt. I paid them off plus one penny. They
finally ate that penny as interest and fees. Had I owed THEM a penny I would be charged interest, late fees and minimum monthly charges.

I called their 1-800 number, told them they were a bunch of crooks and theives and closed the account.

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Buddy
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Nov 18, 2008 10:16 am EST

Yes complian to the FDIC and Utah's Attorney General's office.

They criminal organization that is pretending to be a bank, needs to be closed and the principals arrested and charged. They claim they will default you if you yell or cuss at them. I guess they can re-write the constitution in their agreements too.

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Bruce
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Oct 13, 2008 11:47 am EDT

I have account with Advanta. My business was forced to clse on5/1/08 and after selling off everything, and selling my home ( onwhich I made about $1000), it took a job whihc is paying me about $1500 a month less than I was making at my own business.
I realized with this that I would in a position where I would need help from the creditors to try and lower payments, interest rates, etc if I was going to keep my head above water. I contact all my creditors before I ever missed a payment, and in Advanta and WAMU was told that they ahd no rpograms for this, and that I would just have to pay them and let someone else slide. Now I may not be bright but it would seem to me that if you someone saying that they need help, before they are behind, that it wold be the right thing from a business standpoint to work with them. Not ### far as Advants is concerend. I am now behind with the, and no way to catch up, and they still refuse to work out something with me. What this has done is to force me into bankruptcy, I will be filing in the next week or so, and according to my attorney with the debt and the income they will get nothing. I may well reaffirm with those that helped me and understaood the situation, but Advanta and WAMU will not be in that group.
It is nto a decision i make lightly but the phone calls, verbal threats and abuse that have been heaped on me by Advanta, and their unwillingness to work with me has left me no choice.

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Bill White
Corinth, US
Oct 03, 2008 6:59 pm EDT

I have had the same problem with Advanta. They jacked my rate from 7.99 to 27.99 claiming I was late on a payment. The payment they spoke of was rejected by WAMU because WAMU gave my money to a guy with incorrect ID and no checkbook or debit card 1386 miles away from me, even after the guy attempted it earlier and had been red flagged. WAMU comingled the process of red flag 4 months after the fact between my business and personal accounts. It was WAMU's mistake and they sent a letter as requested from Advanta which I was told would readjust me back down. It didn't. Then I got 6-8 calls harrassing me a day and they continue. They've threatened me with a suit.

How short sighted of them to wrong their customers like that. I will never do business with them again and advise all others considering them to run fast away.

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Stan
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Sep 22, 2008 12:45 pm EDT

BUYER BEWARE! As a card holder since 2006, I had a 7.99% rate until my last statement showed 30.08% ! I called and was fed the same BS. They told me my rate changed due to my credit score, payment history and the economy! My credit has not changed. If anything, it improved. I have never had a late payment with Advanta. They said I received a letter showing the rate increase and had a chance to opt out. I never received this letter. After getting off phone with Advanta, I quickly transferred my balance to another credit company. I will never do business with Advanta again.

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Kristy
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Sep 17, 2008 5:26 pm EDT

Same thing here - but we were lucky ----only got up to 22%. I am scanning the internet now to post as many reviews of this situation as possible, but I will also file a complaint as notated in the comments.

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evelyn
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Sep 13, 2008 1:42 am EDT

I just had the same issue about Advanta like you. I submit a complaint report to the FTC... Pls do the same so we can have lots of complaints about Advanta and hopefully something can be done about this unethical company.

Pls go to: https://www.ftccomplaintassistant.gov/

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12:16 am EDT
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Advanta Bank Corp. Raised my interest rate due to banks error

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.

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Groves B
Visalia, US
Feb 16, 2010 4:24 pm EST

I had a similar tale - My solution was to refuse ANY & ALL future payments until a resolution was reached - I was able to get my interest rate back down to 9.99 % and excess interest charges credited . I had to get really tough, dig my heels in and ignore all kinds of threats . I kept my patience and aggreed to honor the original debt once the excess charges and interest rates had been reversed in writing . - It worked .
Good luck !

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JAZman
Darien, US
Oct 21, 2009 9:32 am EDT

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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KELLI KERR
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Nov 14, 2008 10:59 am EST

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.

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Joey McCarter
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Nov 12, 2008 8:56 pm EST

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,

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b thomas
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Sep 02, 2008 8:57 am EDT

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.

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3:11 am EDT
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Advanta Bank Corp. Rip off

I get this notice in the mail telling me of the change to my account. How the heck can you possibly digest soo many changes in lawyer lingo outlined in 6 point type? I had a respond by date and if i don't respond, which i didn't, it means i accept the changes. Whats up with that? I had $13, 000.00 credit limit and only $6100.00 used. I pay on time. They kept raising my limit too. Telling me how much they value me. How is this an accepted practice by Consumer Affairs and the Consumer Protection Agency? What about Fed Regulators?

It so wrong for them to be able to do this. My feeling is they are firing me as a customer. Do not fall for the 7.99% intro rate. Do not get a Advanta mastercard. Use a reputable company if you do not want to have to go through this classic consumer bully tactic.

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adeoye tope
, NG
Nov 02, 2009 11:03 am EST

i got a message from 180 that i won #1, 000, ooo in the october random draw and i should visit extracool.com

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Nov 21, 2008 10:15 pm EST

ADVANTA BANK IS CRIMINAL AT BEST! You are SOOOOO right. I am in the process of filing complaints to ANYONE AND EVERYONE. This is SOOOO wrong - no wonder the country is in such trouble. These ###s should be imprisoned! I got the same low intro rate, didn't read my fine-print letter - then realized they'd jacked me up to over 37%! No missed or late payments, nothing. When I called to ask about it they said they could lower it to 32% for me and acted like that was something special! PLEASE PLEASE - WE NEED TO BAND TOGETHER TO STOP THESE MANIACS! IF YOU ARE NOT YET THEIR VICTIM RUN RUN RUN AS FAR AWAY FROM THEM AS YOU CAN!

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tiffany
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Nov 19, 2008 6:52 pm EST

Well it look like were all in the same boat here. What do we do because they raised my intrest rate to 36% 36% 36%. I was trying to ask them to lower my rates but No so you know what i did STOP MAKING PAYMENTS ALTOGETHER. Then they send me something in the mail saying that they will help me out now. HAHAHA i'll just wait my 7yrs and that will be just that. Good luck you guys

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Laura May
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Oct 23, 2008 10:08 am EDT

yeah well, i dont even have an advanta card and they just took 15.00 out of my bank account!

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Suzanne
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Sep 25, 2008 8:37 am EDT

No worries, I have contacted every complaint organization, business bureaus, even Senator Clinton's office as we are in NY. This must stop, with such a poor economy, failing businesses like Freddie Mac and others, this interest rate must be regulated. The reason my sister, who told me about Advanta, and I are so disgusted is that this is a "Bait&Switch" scheme! They pulled us in, transfered our credit at 0% for the year, offered 7.9% on future charges and then one year later, when the transfers became eligble for interest, they jerked the rate to 21% on both of us. Let's be really clear, we were always on time, NEVER late, paid more than our minimums and have a mid 700 score on our personal reports. There is no reason to force a penalty on us, or on a poor individual who loast their job, is struggling each month ony to pay interest at 24%...I hope these complaints are being heard!

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Daniel
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Sep 16, 2008 9:41 am EDT

Wow you are so right, I just got off the phone with Advanta and basically they raised my rate from 7.99 to 25% with out any reason what so ever. Don't get this credit card or they can go up to 40% interest. Rip Off

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11:12 am EDT
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Advanta Bank Corp. Bait and switch

Advanta Bank just raised my rates from 12.67% to 34.99% on a Business Platinum Card...overnight! I have never been even a single day late on any payment to ANYONE in the past 10 years. My credit score is "Excellent" and I have always paid substantially more than the minimum on every one of my accounts. Advanta ALWAYS received their payments at least a week before the due date. When I called to find out why they were screwing me, the rude customer service rep would only say that my account was one of many that had been "re-priced" as a result of Advanta "changing their lending policies." I would call it usury. I cut up the card and immediately closed the account. I've written to my congressman, senators, and the Utah State Attorney General about Advanta's Bait and Switch business practices.

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John Crowley
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Sep 24, 2008 9:42 am EDT

I have been a fan of Advanta Bank for years. We have a business mastercard on which we charge several thousand on a regular basis. We have always paid our account on time, (often in full) and recently received the same notice of a pending increase. I thought it was a typo on a common "we're changing our privacy policy" notice when they indicated our interest rate would jump 3x what it was. I called and was informed that yes, in fact, my rate would actually be increasing. This leads me to agree... I can't help but think that yes, they must be in serious financial hurt. I'm really disappointed, since they have been a GREAT bank for my business for many years.

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Richard Eisenberg
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Jul 24, 2008 3:53 pm EDT

Just had the same experience. A supervisor would not tell me specifically as to why my rate doubled overnight. She claimed this was as a result of a "review" in May. She could not tell me what was in my review as this is "proprietary". From what I can see, as I review various sites, Advanta is in trouble. It is coming up with bogus reasons for hiking the rates of people who pay every month to come up with quick cash. Anyone taking out an Advanta card is crazy.

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Advanta Bank Corp. Scam and fraud!

I received a notice today from Advant Bank informing me that my interest rate was being raised from 7.99% to 26.46% effective May 1. Of course the usual opt-out choice was available to my small business, and isn't it nice of Advanta to give me one week to take action?!? When I called, a customer service rep said I had no choice but to either accept or reject their offer. I asked for a manager. Katie, the customer service rep, transferred me to Travis, the manager, who was very happy that I would be reporting Advanta to complaintsboard.com and the entity that oversees/regulates banking in Utah. I could actually hear the smile in his voice. I asked him who his boss was and he said he would be happy to transfer me to her. Melissa Breeze, the area manager, was sympathetic towards my concern for the increase. When I asked why my APR was being raised she could only tell me it was a proprietary decision and could not be shared. Boy was I mad! I told her Advanta had pulled a bait and switch on me in less than 8 months and she remained apologetic. I pressed on and asked her if the reason small business owners were being targeted was because Advanta was another idiotic bank who had lent money to people who couldn't afford to pay their sub-prime mortgages and she said that was part of the reason. Well, excuse me, but I refuse to pay for other idiots who don't recognize that they can't afford to buy a mansion on minimum wage!

Melissa shared with me Advanta uses 3 reasons to change a rate: 1) credit within Advanta (how you pay your bill), 2) credit report (FICO, Beacon scoring), 3) credit card industry rate (what other credit card banking people are doing with their cards). Well, my score is between 720 and 740 with the 3 credit reporting agencies, my debt ratio is only 23%, I have been paying $200-$300 each month on my balance (currently $4800), and I've haven't been late making a payment on any of my accounts in over 5 years... sooo, that leaves #3... Advanta is following what other banks are doing... bait and switch us small business owners to make up for their stupid clients who have defaulted on mortgages and loans.

I have no other choice but to opt out in order to keep my 7.99% APR. What a rip off this bank has become in the past few months. I asked Melissa if other people were upset and calling in and she was very honest in telling me they were calling in and upset. Many are opting out without Advanta so much as offering to lower the rate in order to keep the clients... this is a tell-tale sign that the economy will get worse before we can even think of it getting better any time soon.

I don't know about the rest of you, but I am definitely writing a letter to Advanta's President, Mr. John F. Moore. If any of you wish to follow suit, his physical address is: 11850 South Election Road, Draper, UT 84020. Of course, his phone number is not available. I want Mr. Moore to know what a crummy leader he is for getting his company into such a fix and expecting the small business owners of the USA to bail out his limpy ar*e company.

I can't believe the down-low, shady, ### bucket, low-life tactics some of these banks are stooping to in order to bail out of the mess they created for all of us.

When I get the info on the agency to write to in Utah, I will come back and share it with all of you.

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Dyan Giramondi
Alexandria, US
May 04, 2009 5:06 pm EDT

Just a quick little footnote. For whoever would like to write to any "higher up" person, in order to have the person you really "wish" to read your communication, put "CONFIDENTIAL" on the outside of the envelope. There is almost no Executive Assistant who would open a letter with confidendial on it ... so it will be for the eyes you intended ... a trick I learned when i was an executive assistant.

Dyan
5-4-09

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Al Thomas
, US
Feb 21, 2009 12:19 pm EST
Verified customer This comment was posted by a verified customer. Learn more

To: Advanta Bank Corp:

I AM MOST DEFINITELY OPTING OUT OF YOUR UNREASONABLE AND UNETHICAL ANNUAL PERCENTAGE RATE CHANGES OUTLINED IN THE BROCHURE I RECEIVED FEBRUARY 20, 2009.

I have never missed a payment, always paid more than the minimum due, and this is the thanks I get for being a good customer. The 8% increase you hoped to impose on me is unconscionable.

Because of the global economic crisis, Advanta’s decision to dramatically increase the APR to a usury rate for small business is not only unethical, mean-spirited, and morally wrong, but bordering on criminal. Small business is the backbone of our economy. During a crisis not experienced since the Great Depression, Advanta’s rate increase tears at the very fabric of small business. You people are un-American and disgraceful. Advanta needs to be regulated with stringent government controls to prevent outrageous, arbitrary carte blanché decisions affecting millions of cardholders. I will NEVER use an Advanta card, product or service again.

Did your CEO, upper management and board of directors have a collective brain fart? Have you lost your corporate minds? Advanta is on the bandwagon with other credit card companies and banks making a bad economic situation worse for the average American and small business. You should be ashamed of yourselves. Instead of helping and being compassionate, you are the epitome of bad judgement.

I will never forgot nor forgive your corporate greed in a time of global crisis when people like me are determined to persevere despite despots like you.

I am outraged and disgusted with your decision, but I believe your greed will one day come back to haunt you—and I look forward to that day.

al@althomasgraphics.com

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usaofa
Denver, US
Feb 13, 2009 11:30 am EST

Not only did our interest rate go up, we are now being charged "ghost fees"--these are unidentified minimum balances due--their "India" staff do not know how to identify what these charges are for. This company is literally ripping off the American public!

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Eric M Graham
Kalamazoo, US
Jan 13, 2009 8:51 am EST

COMPLAINT: Date - 01/13/2009
Last night I received my Advanta SMALL BUSINESS Credit card statement, and noticed my interest rate was now 37.18%! I called this morning and asked if this rate could be lowered and the answer was NO. I asked to speak to a manager (DAN) and he told me no! Even though my payment history was on time and my credit rating is good, they still refused to help me. I've been a small business owner for over 8 years and have had numerous credit cards to help me with my business expenses, but I have never seen such an interest rate that is causing harm to the small business owner! Such damaging interest rates should be outlawed and CONGRESS should intervene. Considering CONGRESS has already given billions to the banking industry (TO ONLY HELP THE BANKS) it's just an unethical transgression against small business. Therefore, I called back Advanta and paid off my 17k balance and then canceled my card. I will never use Advanta or it's affiliates ever again. They just lost another great customer! I am now encouraging everyone I know to transfer to another credit card or pay it off and finally CANCEL ALL ADVANTA/AFFILIATE CREDIT CARDS. Who knows, maybe my next step will be to offer loans designed to help small business pay off Advanta Credit Card Debt in order to close out accounts! Any banks willing to set up this type of loan?

As of today, I will no longer use Advanta. Maybe then Mr John Moore and the Board of Directors will understand that this nation is run by small business. We are the backbone of society and it's time we start supporting companies who will support us! You have lost another great customer today and I will continue to ask others to join me and say NO to Advanta!

Eric M Graham, RPh - President/CEO Red Crown Pharmacy

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JVC
Bridgeton, US
Dec 26, 2008 4:16 pm EST

Confusing aspect of the Bank Bailout. If "We the People" Lent, Gave or Gifted money to the banks, then why do "We the people", still owe the banks via, credit cards, loans, mortgages, etc.

Jim Chiappardi
Bridgeton NJ 08302

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dickinsonc
Sparks, US
Dec 04, 2008 11:14 am EST

SSDD (same sh** diff day)... I was told I "missed" payments (have bill pay service... all payments made on time). Then... well.. you UNDERPAID 3 months (again... how... balance keeps going down, nothing charged on card)?
I have written letter of compaint & dispute. I will pursue this legally and through the governing boards

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DT
,
Nov 19, 2008 1:55 pm EST

Advanta keeps calling my cell phone for no apparent reason. I don't even have an account with them. When I tried to get them to remove me from the list, they stated that they are unable to do so, even though I don't have an account with them. HUH? What kind of service is this?

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Jeff Boville
,
Nov 13, 2008 3:32 pm EST

Same thing happened to me. They jacked my rate up to 27.18%. They said they sent a notice, but if they did, I missed it. Apparently I would have had about a two-week window to opt out, but I missed it. When I called, I got the same response as everyone else--they reviewed by account and decided I had all of a sudden become a credit risk. My credit scores range from 760 to 800. I never paid late and paid the entire account balance the first six months (Jan - June 2008). Obviously, their business model is to bait and switch. I'll be paying off my balance and destroying my Advanta card immediately. Advanta will only have stolen about $225 from me. But I will send John the Chief Thief Moore a nasty letter. Also, I will file a formal complaint with the Wisconsin Department of Consumer Protection. But most importantly, we must all continue to spread the word via the Internet and by word of mouth. Hopefully, we can do some damage to Advanta's business.

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Richard Bowman
,
Nov 13, 2008 1:41 am EST

Same thing happened to my company. Never late, credit in the 700's with a starting rate at 7.99% then to %25.9, then %29.9 then to %34.9. I called to ask why and they gave me the same response that everyone receives, however they word it, it is because they can. I requested two different times to receive a reasonable rate. This is criminal what this rotten company is doing. I won't let my company get loan sharked & refuse to continue making payments. Advanta can go to hell and likely will.

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Michael Rios
,
Nov 11, 2008 9:14 pm EST

This too has also happened to me as well, with no information provided as to why my rate was increased. I have written to my State Attorney General and to the BBB. I have also filed a complaint to the following
Sec. 227.2 Consumer complaint procedure.

(a) Submission of complaints. (1) Any consumer having a complaint regarding a State member bank is invited to submit it to the Federal Reserve System. The complaint should be submitted in writing, if possible, and should include the following information:
(i) A description of the act or practice that is thought to be unfair or deceptive, or in violation of existing law or regulation, including all relevant facts;
(ii) The name and address of the bank that is the subject of the complaint; and
(iii) The name and address of the complainant.
(2) Consumer complaints should be made to:
(i) The Director, Division of Consumer Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551; or
(ii) The Federal Reserve Bank of the District in which the bank is located. The addresses of the Federal Reserve Banks are as follows:

Federal Reserve Bank of Philadelphia, 100 North 6th Street, Philadelphia, PA 19105.

Hopefully we can stop this.

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