PENNSYLVANIA -- A few months ago I reviewed my Advanta business credit card and noticed that my interest rate was increased to an unbelievable 27.19% from 7.99%, along with a 2.99% fixed rate that I had for another portion ... read full review
7 Replies - Latest reply on 05/17/2009Add reply
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 LAW SUIT PLEASE POST YOUR INFORMATION
I have had this card for 2 years and only used it once for a balance transfer, which I have been paying off (on time) every month since. I have AutoPay set up through my bank (because Advanta does not ... read full review6 Replies - Latest reply on 05/08/2009
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.
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.
5 Replies - Latest reply on 01/22/2009Add reply
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.
My wife and I have a small business credit card with Advanta. We have had the card for over 5 years. We have always paid the payment on time. I schedule them online to be paid from our checking account. A few months ago the interest rate began to climb. It jumped to 17.18% then last month it rocketed up to 37%. When I called customer service and waded through all the automated stuff I finally got to talk to their out of country outsourcing. Sounded like an Indian accent. Anyway, the individual was rude and flat said that it did not matter that we paid on time that they had decided to increase the interest rate regardless of whether or not we had be good customers and paid our monthly payment continuously on time.
It seems to me that in these economic times they are attacking even their good customers to increase their bottom line. I for one will be closing the account and they can find someone else to scam.
Bait and Switch
Beware of Advanta Credit Cards. They are an advertiser on this web site.
I am a small business owner and used this card for all my purchases, usually 10,000 per month. I paid it off every month for ... read full review
Unfair Business Practice
I think that the Advanta Credit card is the most unfair to any consumer. I opened a business credit card with them 2-3 years ago in which the interest rate was at 7.99%, which I thought was pretty good. ... read full review3 Replies - Latest reply on 11/24/2008
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.
2 Replies - Latest reply on 10/11/2008Add reply
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!
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.
1 Replies - Latest reply on 08/25/2008Add reply
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.
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. 2 Replies - Latest reply on 09/11/2008Add reply
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.
2 Replies - Latest reply on 07/15/2008Add reply
I shredded the card.