ED Magedson – Founder
Advanta Bank Corp.PO BOX 8088 PHILADELPHIA, Pennsylvania United States of America
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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