Advanta Complaint - Unjust Enrichment
16 months ago I received my ADVANTA credit card. The intro rate and advertised rate were very acceptable.
On the 12th month of having the card, along with a balance, the interest was increased to 36%. No reason, just did it.
Never late, never over credit line. Pay more than minimum payment. They just raised it. When questioned about this I was told that since our account activity was less than they liked they raised the interest rate. 36% and never
delinquent, over limit. WHAT A SCAM.
What recourse? NONE. Anyone who gets an offer from them should shudder and run. They are a prime example of loan sharks.
If you look at their web site you can easily substantiate the FALSE ADVERTISING as they list their TERMS and CONDITIONS in public view. There is nothing listed in these terms and conditions that state they can raise the interest rate at all. SCAM ARTISTS, and please.... if you get an offer from ADVANTA; BURN IT before they get the opportunity to BURN YOU.