Advanta - Page 2

18 reviews & complaints.

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The Kind Of Company That Contributes To The Mess We Are In
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VIRGINIA -- Like others here I have a credit rating above 750, always paid our bills on time and always paid more than the minimum payment on a card that promised 7.9% interest "thereafter" and claimed to be small business friendly.

After one year without warning they raised our interest rate to 31%. I called - they said the same they said to others here - you can't do anything about it. The new rate is not just on new purchases but the entire balance. What other industry can do this - certainly we can't go back to our customers and say - by the way you now have to pay me 24% on what I sold you a year ago.

They are now advertising the exact same conditions to small businesses...beware - they have shown how small business friendly they really are!
     
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madconsumer on 10/11/2008:
pay off the balance as soon as you can. credit is not free money.
old fart on 10/11/2008:
Pay off the balance and then tell them to stick their card where the sun don't shine..
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Horrible Behavior
Posted by on
Ii have been doing business with this credit card company for a few years. I have never been late in paying with this or any of my other bills, however, they sent me a notice that in 5 days, they were going to increase my rate from 8% to 35%. I called to make sure this was correct and the woman I spoke to said that they were increasing the rate from 8% to 35% and she did it without laughing. I, however, could not stop laughing at how ridiculous this was.

Thankfully, I had the money available to pay off the bill. Needless to say, I will NEVER do business with this people again for as long as I live.
     
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Anonymous on 08/25/2008:
35% ??? I swear, I thought the max any state could charge was somewhere around 28% ??
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STOP STEALING
Posted by on
Advanta
DO NOT GET THIS CREDIT CARD IT IS A BAIT & SWITCH RIP OFF THEY ARE WOST THAN STREET LOAN SHARKS
ANYONE WHO KNOWS HOW TO START A CLASS ACTION LAWSUIT PLEASE POST YOUR INFORMATION
     
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Soaring Consumer on 05/17/2009:
Can you please elaborate on your situation?
Anonymous on 05/17/2009:
Details would be helpful.
Starlord on 05/17/2009:
Details would help immensely. Quit yelling. You do not want a Class Action lawsuit, believe me. You might get a five dollar coupon, and the attorneys can buy a new yacht. Attorneys do not file Class Action lawsuits to aid the consumer. Those bottom feeders file them to line their own pockets.
Slimjim on 05/17/2009:
Moving on, nothing to see here.
DebtorBasher on 05/17/2009:
I'm right behind ya, Slim!
Anonymous on 05/17/2009:
Wait for me!!!
DebtorBasher on 05/17/2009:
*Stretching my arm back for YaYa as I continue to run*
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Deceptive Practices
Posted by on
SPRINGFIELD, PENNSYLVANIA -- I had a credit card with Advanta at 9%. They raised the rate to 37% claiming I had been notified and had not opted out. Every time I asked to speak with a manager they refuse to put anyone on the phone. Furthermore, their call center is in India and their employees could not be helpful.

Please stay away!!!! from this credit card company. They use the old bait and switch strategies.
     
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The Defense For 37% Interest Rates!
Posted by on
SALT LAKE CITY, UTAH -- I was a victim of the 8% to 20% to 34% to 37% interest rate jacking of my account. I was told, multiple times, that the interest rate could not be changed. There is a way, however.

I filed a complaint with the Utah BBB - I just received a letter from Advanta, if I close my account, my interest rate will return to the old rate.

FYI to anyone else in this trap - there is a way out.
     
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Sparticus on 01/22/2009:
So you have to close and re-open your account? Is that what they suggested? I wonder what effect that has on your credit report?
Anonymous on 01/22/2009:
If you close your account, you won't have to worry about ANY interest rate.

Sparticus on 01/22/2009:
That is exactly what I was thinking MissMarple... ;-)
tnchuck100 on 01/22/2009:
The account is closed for additional charges. You continue to pay the account off at the original interest rate. It is not re-opened.
Anonymous on 01/22/2009:
Excellent point, Chuck, and BEST ANSWER. Many people do not understand the difference between closing the account to further charges and paying off the account in full and then closing it.
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Advanta Rip Off
Posted by on
Similar story - 0% introductory rate for 15 months on purchases and balance transfers. 6 months later, a payment mailed 10 days ahead of due date gets "lost in the mail". Late fee charged and 0% goes to 7.99. 3 months later (credit score 800) interest rate moves to 20.24%. Account closed. These people deserve all the dead beats and lousy credits they keep.
     
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sjc1014 on 08/27/2008:
Everyone needs to be very wary of doing business with Advanta. This month my interest rate was increased from 11.99% to 25.39%. When I questioned why this was since I was an excellent customer and have excellent credit, I received the following reply. It seems now it doesn't matter how good you are at paying your bills, you are punished for what the rest of the country does. I am paying off this credit card immediately and cancelling my account. Buyer beware!!!!
Thank you for contacting us about the terms of your Advanta account.

Your Advanta rates are based on a variety of factors including information about your Advanta account, such as credit line utilization and payment history and information we obtain from credit bureaus about your personal and business credit. The information we obtain from the credit bureaus can include your activity on any other accounts you may have including mortgages and other credit cards.

In addition to factors such your account history with us and your credit scores, our evaluation also considers the economy. Given the current difficult economic environment, we expect accounts with similar behavior and credit profiles to your account to now have a greater likelihood of defaulting than before and your new pricing reflects that higher risk.

We appreciate the opportunity to serve you and your business needs. If you have any other questions or concerns, please feel free to contact our Customer Service Center. You can visit us online 24 hours a day at www.advanta.com or call us toll free at (800) 705-7255, Monday - Friday 8:00 am to 8:00 pm and Saturday 8:00 am to 5:00 pm Eastern Time.

Charles Regazzi
Account Manager
Advanta
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Advanta Credit Card
Posted by on
MASSACHUSETTS -- It is by far the worst credit card I've ever had. Never late , never over the limit. Had it for a few years and they raised my interest rate to 34.99. They offered a balance transfer of 0% and instead counted it as a cash advance. I've had no luck at all talking to them. I have to transfer to another card. They are thieves. Pure and simple.
     
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dennispb on 08/04/2008:
Just received our company's July 2008 Advanta credit card bill. Shocked to see the interest rate is now a wopping 35.49% !!!!!!!!!! We have had this card for many, many years and, needless to say, will have it not more. I'm redeeming my rewards points and canceling the card. My advice: put Advanta out of business and CANCEL YOUR CARD! This is simply outrageous. No wonder Congress wants to regulate this industry!
sm280 on 09/11/2008:
This card is too good to be true. My company has a small balance on the card since the APR was only 7.99% This month I noticed that they raised it to 20%. My credit score is excellent and we have never had any late payments. They claim per section 12 they can raise the rate at any time for any reason.
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Small Business Credit Card
Posted by on
If your a few days late on your payment (as I was since I didn't receive my invoice) you'll get a phone call from India. Then if you call the company the 'customer service person' that you talk to to see why you didn't get your bill will threaten you with collections and other future actions. That's after two weeks late with the payment.

I shredded the card.
     
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Anonymous on 07/15/2008:
You were late. People get mad when they are late and charged. They agreed to let you use their card to get stuff. You agreed to pay them. How hard is that to understand?
tnchuck100 on 07/15/2008:
What was the reason you did not receive a statement? How long had you had this account? How many times have you been late? Why did a "few days" turn into "two weeks"?

The answers to these questions would have a large bearing on how this is viewed.
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