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Advanta Bank Corp. Small Business Card / Class Action Lawsuit

1 11850 South Election Road Draper, UT, United States Review updated:
Contact information:
Phone: 215-657-4000

I was ripped off just like the rest of you good business card holders. They claim they sent me a notice on 8/13, that I never received that they were jacking my rate from 10.3% to 35%. I have an excellent credit record and excellent FICO. They claim due to the current market conditions (same for everyone) that I and all the other complaints I've read, no longer meet their lending criteria, so this gives them the right to change the rates to the default rate with no notice, even if you have not defaulted!

I am looking for other Advanta bank card holders like me to pull together members for a class action lawsuit against Advanta. We desperately need to sue them and put a stop to these unfair and probably illegal practices. Please contact me at dec458@msn.com or advantafigher@yahoo.com ASAP so we can get this pulled together. I have an attorney in New York (whom Advanta also screwed over) who is working on putting together a class action lawsuit against them.

Thanks much to all and I hope to hear from you soon, so we can give Advanta some good ole American justice that they have so blatantly earned.

De
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Comments

  • Ra
      20th of Oct, 2008
    0 Votes

    Advanta claims I have suddenly become a "much greater credit risk" to them, raising my 9.99% APR. to 27.9% APR. I have never had a late payment, and credit report is above board. They have "NO" reason for this action, and will not give a specific explanation. I have spent a great deal of effort maintaining my credit worthiness and this has me quite upset. Ralph

  • W
      23rd of Oct, 2008
    0 Votes

    They are criminals - last month at 8.08%, this month at 27%!!! Never a late payment, perfect credit. No answers just vague factors.

  • He
      3rd of Nov, 2008
    0 Votes

    they need to be stopped going to send a email to you for i feel that they need to be sued in order for them to stop this extortion . enough is enough my apr rate went from 7.99 to 27 for no reason they are criminals

  • Cr
      3rd of Nov, 2008
    0 Votes

    same issue. Never late, always paid via online, good credit. My rate jumped to 36%. They are in violation of bait and switch for one thing. I have discussed a rate decrease and to no avail. We need to do something to bring this to the forefront; but just find someone who can do anything. I've spent hours attempting to get them to yield some sort of interest break. All I can say is buyer beware and let everyone you know about thier deceptive advertising practices.

  • Mi
      5th of Nov, 2008
    0 Votes

    I am contacting McKee Law Offices in Phildelphia and will persue legal action. Call them to support or join me- 215-242-5260. Let's put the screws to those mother*uckers. They screwed me too...same way...same story...same lame line of BS.

    LET'S GET GOING AND GET SATISFACTION NOW!!! STOP TALKING AND TAKE ACTION!!!

    We need to do to them what we did generations ago to robber barrons...string 'em up...burn their houses...let's go!

  • Sk
      11th of Nov, 2008
    0 Votes

    Hi

    ALl the above applies to me. I am ripped off 200$ because Advanta suddenly ( 1 day late payment ) feld am a credit risk whereas on the same day i was able to get a 0% APR from Bank of America.

    God bless America

  • Br
      14th of Nov, 2008
    0 Votes

    similar to above except I have lost 90% of my income I am able to work with my other credit card companies but advanata is absolutely impossible to work with. Their customer service staff are not too bad but their supervisors are absolutely impossible Non of us us wish to default on debt.. But Advanta will certainly be the last on my payment list.

  • Lk
      21st of Nov, 2008
    0 Votes

    advantad did the same to me...used cash advances with the 7.99 rate...3months later...i was at 35% for no reason! I am all for supporting any class action lawsuit against advanta. please feel free to contact me regarding this.

  • Ra
      22nd of Nov, 2008
    0 Votes

    When I received my bill I almost fell over! When I called to ask why, I was told that it was the new revised policy and that there is nothing that can be done! I have always paid on time and paid twice the minimum due. My credit is execellent. This is more greedy banks stealing from the little guy so they can put my money in their pockets. I will be looking for a new credit card that will not rip me off. I also had 9.9% interest that has been raised to 27.9%. for not good reason.

  • Wi
      22nd of Nov, 2008
    0 Votes

    Advanta has turned to pond ###; the tactics they are playing on me, is exactly what they are doing to others. No notice, just jack the APR from 7.99% to 29.9% with no reason than to protect their own 401Ks and selfish interests by gouging the people that actually pay their bills on time and have good credit. I have asked why and they would not give a reason. If we as a group can totally annihilate the ### the world would be a better place.

  • Li
      22nd of Nov, 2008
    0 Votes

    I had a very successful business that fell in hard times -
    Paid my CC on time for over 10 years..
    Now that I'm having difficulties, they have CUT -OFF my CC, the fees, penalties are absurd
    and I received a threatening letter with the following:

    "Chances are, sitting here today, you have no idea what section 11 states, but trust us, you don't want them going there."

    Is this a threat or what??

  • Ri
      26th of Nov, 2008
    0 Votes

    I had the same problem. I started off with a 2.9% for 12 months. As soon as the 12 months was up, boom my interest rate jumped to 34.99%. I received the same answer as many of you; economic times drove up the rate. I was never late, always paid more than the minimum and have a very good credit rating. I quickly moved my account balance to another card, but still got soaked for about $900.00 in interest.

    Apparently their good customers are not as valuable the them as mine are. I would hope this business practice will come back to haunt them in the very near future.

  • Pa
      30th of Nov, 2008
    0 Votes

    yea, they are ruining my credit, i told them i can get a better deal from the mafia, 33%calling me everyday, including sunday, i suspect they are a terrorist organization extorting money, they need to be investigated, i stopped paying them bcz the bill does not go down, even though i pay 1800$a month on a 25000$loan, its more than my house mortgage, how can they extort money like this when the government is lending at an alltime low rate?i just hope i can refinance with someone else and get rid of the @holes, but i would also like to be reimbursed for them ripping me off for 6 months now, and ruining my credit with other lenders

  • Hu
      1st of Dec, 2008
    0 Votes

    I got the same letter, Ligia, - what exactly is section 11? That has to be one of the most threatening dunning letters I have ever heard of. I was never, late, never over limit, they just raised the rate to over 30%. They said they sent me a letter, but I sure never got one. Something should be done to prevent this type of practice.

  • Li
      3rd of Dec, 2008
    0 Votes

    Well I found another site called /link removed/ they have 265 complaints about this company and instructions (contained in one of the complaints) to make a report to the FDIC. Which I've done. I urge every one of you to do the same. Also, I think it might be a good idea do do some kind of petition and get it to pres Elect Obama's site and to the press.

  • De
      4th of Dec, 2008
    0 Votes

    Advanta is continuing to jack people's rates it seems every day. We are continuing to try and put together a class action lawsuit against Advanta. If you haven't contacted me and would like to join, please e-mail me at dec458@msn.com. To particpate I need your name, address, phone, e-mail, and business name.

    I have seen several people have success lately in filing a complaint with the Utah BBB. I haven't seen much help come out of the FDIC. One person has an attorney sue Advanta in Philadelphia small claims court and got back his interest and attorney fees in about 2 weeks.

  • Pa
      4th of Dec, 2008
    0 Votes

    I have had a Advanta Card for 5 years and I was a day late on my payments and they have now jacked the interest rate up to around 37%...I sent them a letter and called and spoke to a representative and the supervisor who told me there was nothing they could do. They suggested I contact a National Consumer Credit Agency for help. I said, so if you get a call from a Consumer Credit Agency you can lower my interest rate but if a 5 year customer calls trying to honestly work out a payment plan you can't do anything. They then admitted that if the Consumer Counseling Agency contacted them they still wouldn't lower their rate. They gave me the name of the President of the Company when I asked and I told them I was writing him a letter which I sent 12/3/08 but these people are hard to deal with. I have never contacted a Consumer Counseling Agency and dont plan on starting now. I told them that if I get in over my head theirs will be the first card on my list to stop paying and they can take me to court. I offered them a reasonable monthly payment of $600.00 and they could lower my interest rate to a human level and I mailed them my card as I will never be using it again. Good Luck to all of you. I am thinking of filing a complaint with the BBB

  • Vi
      4th of Dec, 2008
    0 Votes

    I am baffled that a big corporation like this one can get away with ripping off thousands or perhaps millions of customers around the united states. Is there any recourse for consumers or can a corporation get away with braking a contract, false advertisement, etc. I was approached by them with an offer of 7.99% and for no reason they raised it to 27.99%. Luckily I did not have a large balance so I was able to pay it off. But I had a reward and they decided to close the account so that they wouldn't pay it. Now I have a hard time trusting any other credit card.
    I would love to see a class action lawsuit brought in to this company for being so croocked.
    Virginia V.

  • Vi
      4th of Dec, 2008
    0 Votes

    Filing a letter with BBB won't do much for us consumers; I believe it would be better with the FTC and attorney general. Definetely something should be done to these gansters. Is there anyone outhere that can help?
    Virginia from California

  • Di
      22nd of Dec, 2008
    0 Votes

    Having delt with banks & "teaser" rates before... I made VERY certain I would not fall into this trap (but was trapped anyway). I know the "due" date varies AND paying a day EARLY is credited to the previous month (which makes one late in the current month).
    Upon asking WHEN the payment was due, (as I am frequently away from US mail and use a "bill-pay" service) I recived an OK for "30 day" billing.
    After about a year, it seems I was late by 3 days (how???). A late-charge was assesd and interest was raised by about 25%. Of course.. this made the next (and next) payment short (by $12) which also added late charges (Note: Amount "due" each mont was $120... I paid $200, and I was $12 short???)
    Card has been paid in full (to stop late charges & such). I have requested an explanation and refund of late charges and excess interes charges. Customer service rep says no... I to am ready for class action suit

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