• Report: #498880

Complaint Review: Advanta Bank Corp.

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  • Submitted: Tue, September 22, 2009
  • Updated: Tue, September 22, 2009

  • Reported By: Steve — phoenix Arizona USA
Advanta Bank Corp.
PO BOX 8088 PHILADELPHIA, Pennsylvania United States of America

Advanta Bank Corp. ADVANTA ILLEGALLY RAISED INTEREST RATE TO 33.9% PHILADELPHIA, Pennsylvania

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 We had  been  a  good  customer  of  Advanta  for  9  years with  a  perfect  record  of payment.  When  we  wnet  to  purchase  new  inventory  the  begining  of  June 2009, the  card  was  declined  as  cancelled. We found  out  later  Advanta had


cancelled  all  cards  with  no  notice.  This  seriously  hurt  our  business.


     We  also  had  a  guaranteed  interest  rate  of  12%,  and  as  soon  as  the  card  was  cancelled,  we  had  2  increases...to  24.9%  then  again  to  33.9%


with  no notice  or  explanation.  All  letters  to  Advanta  went  unanswered,  and


all  calls  were  met  with  "sorry  we  can't  help  you". This  is a business  killer  as  well  as  criminal  on  their  part,  and  deserves  an  investigation  and  a  class  action  lawsuit.  We  reported  this  to  the  FTC,  but  don;'t  expect  much.


They  are  scum  as  far  as  we're concerned.


This report was posted on Ripoff Report on 09/22/2009 06:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/Advanta-Bank-Corp/PHILADELPHIA-Pennsylvania-19101-8088/Advanta-Bank-Corp-ADVANTA-ILLEGALLY-RAISED-INTEREST-RATE-TO-339-PHILADELPHIA-Pennsylv-498880. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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