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Advanta Small Business Credit Card / abuse, fraud

1 P.O. Box 870144Tuscaloosa, AL, United States Review updated:
Contact information:
Phone: 205-348-8329

Rate increase from 0% to 34.99% without notice. Changing payment due dates, length between min. payment due dates. Worst of all, we paid credit card completely off, received notice of closure followed by a bill for $204.00 for more interest and ? Could get no help from anyone and those we spoke with were incredibly rude. Advanta then reported our "delinquency" of this charge to all three credit agencies and we will suffer consequence for 7 years. WE borrowed$ 8000.00 as a transfer after offer of 0% and our credit is ruined over $204.00 Absolutely illegal

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Comments

  • De
      26th of Sep, 2008
    0 Votes
    Advanta Small Business Credit Card - Interest Rate increased to 35%
    Advanta
    California
    United States

    I have been a customer of the Credit Card company Advanta for almost 7 years. I applied for the card because of a low 8% interest rate and used the card regularly. I noticed the interest rate starting to increase - to 16% the, 25% and on the most recent statement to over 35%. I have not charged on the card in a long time because of the rising rates.

    I called to review my account. I have never been late, never missed a payment. The supervisor told me the interest rate was high but a lower rate was not available to me. She refused to offer an explanation, or advice on how to lower the rate except to suggest that I use the card. I have stopped putting charges on the card for obvious reasons, who would use a card with that high of interest rate.

    Her explanation for the companies ability to charge 35% was that they were in Utah.

    Is this legal?

  • An
      1st of Oct, 2008
    0 Votes
    Advanta Small Business Credit Card - Rates
    Tony's Landscaping
    Brockton
    Massachusetts
    United States
    Phone: 508-588-6935

    I've had an Advanta credit card for about 3-4 yrs.at a rate of 7.99% apr and I would make payments way and above what was due and just when the new bill came out(early) This past month I was just looking at my bill and noticed my finance charges was at 30.008%. I called them up about this and they said some mumbo-jumbo credit inquiries I really could'nt understand what she really explained. I wonder if we're helping pay off their bad debts! My credit rating is 744 no late and always early pay on ALL my bills. I'm paying off and cancelling this card soon and will never do business with Advanta Bank Corp.

  • An
      14th of Oct, 2008
    0 Votes

    Hi! Same thing just happened to us: they raised our rate to 25%, despite the fact we've never been late with any payments to anyone, anywhere. When we called to ask, the response essentially was "because we can." I believe it is legal; it's just disgusting. We plan to continue using the card for the cash-back benefits, but to make sure we pay it off asap, and keep it paid off each month. Our best guess is that they need to raise a lot of cash fast, or liquidate the debt asap, and they figure a ridiculous interest rate will accomplish that with any given customer. The legality of the interest rate claims on their home page is what I wonder about...

  • Mm
      14th of Apr, 2009
    0 Votes

    Rate was raised from 7.9 fixed to 19.99 without noficiation to us. Although Advanta claims notification was sent. We are disputing the rate increased but getting nowhere.

  • Pr
      24th of Jun, 2010
    0 Votes
    Advanta Small Business Credit Cards - Discontinuation of all credit
    Gymboree Play & Music
    26131 Detroit Rd
    Westlake
    Ohio
    United States
    Phone: 440-478-5523

    I would be interested in joining a class action suit against ADVANTA Small Business credit cards as they shut down all credit on all accounts and now want monthly payements with no credit extended. There has to be something illegal about this and they will not come to a settlement and balance pay-off. You can not reach anyone. The Advanta bank was taken over by the FDIC but provided no recourse for the credit cards.

    The proof to this exists on there credit card site at http://www.advantabankcorp.com/ADV

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