Advanta Bank Complaint - Getting Taken "Advanta-ge" Of
I will not go into detail on my horror story other than to say dealing with Advanta has screwed me and my previous 710 FICO. For 10 months now I have asked that they provide to me in writing WHY they raised my rate after stipulating in a June 1, 2008 new cardholder agreement that would not happen. I had prior problems with Advanta shortly after getting the card, again that proved to be their doing.
They have sent collection dogs after me and threatened legal action on one hand while having account managers call me offering settlement and a return to under 10% rates. Several attempts to call these people during times they noted resulted in voice messages, where I asked for a call back to give me a specific time to call. Never a call back, but I'm guessing they would have objected mightily to me wanting to record our call.
I've held firm (hopefully not to my detriment) first demanding answers and then agreeing to speak ONLY when I got that info.
I have watched as their tactics have made it easy for other CC issuers I use (Chase and Cap One) to raise my rate and lower my lines just when I need them for business. Another shock considering I have a pretty darn good - admittedly not perfect - track record.
Guess my question as I obviously "preach to the choir" is can anything be done? Class action? How does one repair damage these crooks have done?
From my standpoint it is at least a bit consoling to find out I'm not alone in being ripped off. But it doesn't help resurrect my credit.
And I was shocked today to go and make my payment and see that ALL Advanta business accounts have been closed but we are still able to pay.