Advanta CardFraud

1 Review updated:

Recently I was made aware that my 7.9% interest rate was now 25%. I have always paid my bills on time and have never been late with this card or any of my financial obligations. Researching this I see there are many complaints about Advanta doing this to many consumers. This of course will hurt my credit score. Advanta said they sent a letter as if this justifies them being able to rip off the consumers.

Please get the word out about these fraudulent tactics by Advanta business card. If government really wanted to help our country stopping credit card companies like these would be a good start. God Bless America I love this country but it's a darn shame these companies can do this type of thievery to the consumers.

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  •   Sep 03, 2008
    Advanta Card - Raised interest rate from 7.00 to 20.99
    Advanta Card
    United States

    For no reason Advanta raised my interest rate from 7.99 to 20.99. This company is a rip off. Canceled my card, and paid balance in full. Buyer beware! I had used the account for business uses, and charged, and paid between $1, 000 to $2, 000 per month. They still owe me my cash-back money. Think I'll ever see that. I don't think so. I have a great credit rating, and was never late. The rep I talked with had a bad attitude, and left the impression, if you don't like it, leave. I'm 64 years old, and have never had anything like this happen!

    0 Votes
  • Sh
      Sep 11, 2008

    I am also being *%[email protected]! by Advanta Bank Corp. My interest rate was raised twice from 7.9 and now up to 35.08%. When I spoke with them on the phone, was given the same story as everyone else. Was also told that they can keep increasing it as much as they want.

    I am currently waiting for a response from FDIC, but if anyone has any advice or information on this matter, would be greatly appreciated.

    0 Votes
  • Mj
      Sep 19, 2008

    I have the same complaint. First Advanta tells me my credit line was raised because I was a great customer. The next month they increased my rate from 7.9% to 25.08%. No late payment involved. The "opt out" was the last paragraph on column 6 of a triple fold out that looked like the annual privacy notice. The Supervisor told me it was mailed August 14th. The opt out states: "Your written request must be received by us at the address above on or before the last business day before the Effective Date specified in the second paragraph in the beginning of this notice." That date was September 2nd.

    Section 8. Finance Charges:

    A. Account APRS - The Account annual Percentage Rate ("APR") on Purchases (including Purchase transations, unpaid Purchase fiance charges and Purchase-related fees and charges and on Balance Transfers (inlcuding Balance Transfer transactions, unpaid Balance Transfer finance charges and Balanace Transfer-related feeds and charges) is the Variable Rate Index (explained below plus 22.59%)

    With the Labor Day holiday on September 1st - there was about 5 days to respond - if you could figure out what the notice actually said.

    0 Votes
  • Ti
      Sep 25, 2008

    Advanta did the same to me. I wrote John Moore, their President to restore my rate or I would file a complaint with several agencies. They said they would have an answer in several days. We'll see.

    0 Votes
  • Rp
      Aug 10, 2009

    Same thing happen to me I have made all my payments on time and then for reason my interest rate was bootiest to 20 plus interest rate, then I was told they were not credit card company. How does the nation leaders let them get away with doing these things.

    Richard Pizzuto

    0 Votes
  •   Jan 11, 2010

    I have gone a online bank to withdraw money. There saw a new device (iPhone’s Credit Card Terminal) Have anyone any idea about iPhone’s Credit Card Terminal?

    0 Votes

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