Advanta Complaint - Beware Of Advanta - Criminal Actions!
MAPLEWOOD, NEW JERSEY -- I was so surprised to find all the complaints about Advanta. I'm a small business having the same exact issue with this company. Customer since 2005, no late payments, paid more then the minimal amount due, no problems increasing credit limits and now that we have utilized all of the credit line they change our rate from 7.9% to 25%. Contacting the company resulted in the same as everyone else experienced. They will not budge on the interest rate!
I certainly would like to pay the entire amount off, but unfortunately in today's business climate it will be very difficult. Advanta has placed my business in a very precarious position.
How can this be a legitimate practice? IS there any oversight of the credit credit card companies? I've written a letter to my Congressman, but I don't know what an be done about this. Since there are so many of us that are experiencing the same problem, does any one have any advice on what can be done?