Advanta Credit Complaint - Scam On Rates! - Credit Card
I opened a business account with Advanta mainly due to the no interest for 1 year option. For one year I made all payments on time. In the 13th month the account transferred to interest and my accounts payable person paid this statement after 2pm on a Friday and the payment apparently did not post until following Monday. Advanta immediately raised my interest rate to 35%. I was shocked!! This is a business account and no one would help me resolve this issue.
I paid the account off and would NEVER recommend anyone open an Advanta account with this no forgiveness procedure. I feel its a scam to increase your rate!