I 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.
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.
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.
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.
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.
If you're 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.
RENO, NEVADA -- Nov. 2007 I applied for a credit card from Advanta with a zero interest rate for 12 months. Dec 2007 I paid my bill in full and on time. Jan 2008 I received a notice from Advanta that $90 was overdue. I contacted customer representatives who refused to acknowledge that the payment had been made. The overdue charge triggered late fees and increased my interest rate which is currently 29.99%
In Feb 2008 I provided my bank records of payment made to Advanta. They answered my letter with nonsense and never acknowledged my bank records showing the payments were paid in full and on-time. It was apparent they had no intention of addressing the issue of my bank records because then they would have had to acknowledge that the payments were in fact paid on time. It was very apparent to me that Advanta customer service representatives were not incompetent but were actively engaged in the illegal conduct of the company, that is manufacturing late fees to increase interest rates.
I contacted the FTC (Fair Credit Billing Act), FDIC (Regulation Z), BBB, and locally the Nevada Attorney General's office. The FDIC added my complaint to the list of issues to be reviewed during their next audit of Advanta. The Utah BBB added my complaint to their list of 228 complaints against this company. I am in the process of writing a Federal Complaint against Advanta Bank Corp which will be posted online late May or early June 2008.