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Advanta Credit Card / Rip off

United States Review updated:
4.15
Contact information:

I almost maxed my credit card out and when I just had a few hundred dollars left for credit, Advanta shot my interest rate to 35%. This made my balance go above my limit and I'm always late now cause the minimum payment tripled.

Now they pile the over limit fee and the late fee for a whopping $79.00 a month more. These guys should be in a town square hanging. What a f-ing ### raping. I've told them on several occasions its causing a tremendous financial burden not to mention I've got 3 little kids and a wife. Work is drying up and I'm barely working ' There's nothing we can do at this time ' is all they say.

Steer clear of these ### buckets, Advanta will bite your head off and ### down your throat.
Va
0

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Mi
  20th of Sep, 2008
Agree Disagree 0 Votes
Everyone needs to file a complaint on line with the Federal Trade Commision. I just did and it was easy. This has got to stop. I have had my business credit card account with Advanta for more than a year with an interest rate of 7.99%. I was told that this was a fixed rate. I have never had a late payment(business or personal)and have never gone over my limit. I received my Sept 2008 statement only to notice that they increased my interest rate from 7.99% to 25.08%. I called and spoke with two different managers and asked them why my interest rate had been increased and was told that they looked at my personal credit score, income and numerous other factors and determined that my account had to be increased to 25.08%. I find this baffling since my credit score is higher than 800 and income is more than $200K. When I asked them to tell me specifically what in my history had caused this I was told that they had no way of telling me that. I asked them to please change the interest rate back to the 7.99 since I had been a loyal customer in good standing and I was told "no" by both managers. They were clearly reading from a script since both managers stated the exact same verbiage to me. They both said that they sent out a letter telling me that I could opt out if I wanted to but I didn't respond to the letter so the interest rate will stand at the 25.08. I vaguely remember a standard letter from Advanta stating that the credit card was a now a variable rate (not sure how they can just change it from fixed) but it was my understanding that if you didn't have good credit etc that you could then be imposed a higher rate. Now if I had received a letter that clearly stated that in Sept my interest rate would increase from 7.99 to 25.08...do you want to keep the credit card...yes or no? That would be a different story. I don't know anyone with a brain that would do that but the letter obviously wasn't clear about that. Since this happening I have been on numerous blogs and I have seen hundreds of complaints from the Sept billing and all of them had their interest rates go to 25%. When I asked the Advanta manager if it sounded reasonable for this to happen to a good customer they both told me yes. I asked them if they would rather loose my business than change the interest rate back down to the 7.99 they both told me yes. So to that answer I told them to cancel my credit card (this will be the first "strike" against my credit since I have read that canceling a credit card lowers your credit score). I am now stuck with this huge interest fee assessed at the 25.08% and now I have no business credit card for running my small business. Please consider looking into all the blogs about Advanta and see how many hundreds of complaints there are. I am outraged and feel taken advantage of.
Fl
  9th of Dec, 2008
Agree Disagree 0 Votes
My rate was also raised from 11.99 to 37.18 % for no reason (other than their claim that they identified my account as high risk). I have never been late, have paid off my account several times in last 3 years, have had an account with advanta since 2002, and only owed 40% of my credit limit with them. They also sent me several checks offering balance transfers and have never decreased my credit limit of 15k. I have very good overall credit. Luckily, I was able to pay them off immediately AND close the account. I will be contacting my Congress person...
Sa
  21st of Jul, 2009
Agree Disagree 0 Votes
I was told i would have 0% APR for one years The condition or catch was if I missed the payment they will cancelmy promotion .I set up on line payments after they start playing games they said i have to change my banking every three month I did it that then they the information i update did not update correctly they said routing number was wrong but that was not true routing number was correct end of the story they said i break the condition accused me i miss the payment start charging 23% in interest BE CARE FUL THEY CAN MAKE U BREAK PAYMENT AND RIPPED YOU OFF ..

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