Explore your opportunities! Create an account or Sign In
The most trusted and popular consumer complaints website

Advanta / Predatory Lending Practices

0% 1
Contact information:
Advanta Bank
Like everyone else here, I was victim of Advanta's predatory lending practices. My rates were 2.99%, and then 7.99%, for the longest, and recently, just like everyone else, the rate went up to 32%! They gave me the same lies they are giving everyone else, that something changed on my credit report, and there are a variety of factors leading to the change. All of this is bull, and nothing has changed.

I paid the balance off, and then they renegotiated the interest rates to 15.99%. They said that I could call back in 60 days to try to reduce the rate further, (I do not use the card anymore)

I am reading everyone's stories, and doing my research on Advanta, and their predatory lending practices apparently date back to the 90s.

I've decided that I am going to sue them under breach, since the contract that I signed, says, "for the life of the account" and NOTHING on my credit report has changed. I can see that in the past, there is how Advanta lost most of its cases, under breach. Not only that, but they lied and said they mailed out a letter. Everytime I call, I get hung up on. I asked them to resend the letter they sent, I still have not received it. This behavior, in addition to their history, I think I have enough to at least bring up the claim.

I looked them up on the BBB, and they only have one complaint and there is no information about it, so the BBB is on their side.

For now, I am gathering all my information, and every week I call Advanta for an update. I plan on going to the FTC, the States Attorney General, etc. I am going to sue them for the amount of interest that was charged over and beyond, and that was breach of contract. I am also suing them for my court costs.

I read somewhere else that a poster was able to get a claim through on the BBB, and then Advanta agreed to lower the interest rate, if the person closed the account.

Post your Comment

Advanta Logo Advanta
Customer Service
P.O. Box 9217
Old Bethpage
New York
United States - 11804-9217
View Full Information

Reply to