• Report: #379959

Complaint Review: Advanta Bank Corp.

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  • Submitted: Fri, October 10, 2008
  • Updated: Mon, October 20, 2008

  • Reported By:chicago Illinois
Advanta Bank Corp.
PO BOX 30715 Salt Lake City, Utah U.S.A.

Advanta Bank Corp. Advanta Credit Cards, Raised interest rate with no notice whatsoever Salt Lake City Utah

*Consumer Suggestion: Class Action Lawsuit Against Advanta

*Consumer Suggestion: Class Action Lawsuit

*Consumer Suggestion: PLEASE ALSO FILE YOUR RIP-OFF REPORT ON OTHER SITES.

*Author of original report: Update: FDIC complaint filed

*Consumer Suggestion: Please also report this RIP-OFF to FDIC (Federal Deposit Insurance Corporation)

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I own a small business and have an Advanta credit card. I havnt used the card in sometime and have been paying down the balance on time. Ive never been late and always pay with a scheduled pay thru their system that way i am guaranteed the payment is always there on time. I checked my new statement and noticed interest rate jumped to 30.04% !!!!!!! Went and checked last month and low and behold same thing, how stupid of me to not notice it , this is for the periods ending august and september '08 with current payment due october.

I wrote the company thru their secure message system and have yet to get a response back after the 2 day notification time as they state. My first message was simple, Hi , why have my rates increased to over 30%, please respond so i can take proper action upon reply. No reply, second message was simpler, Hi why have my rates been raised to over 30%, thanks.

I have never ever ever received a rate increase notification not thru the mail or thru their message notification system. Somethings not right that i will say, anyone demanding that amount of interest is loan sharking imho. They offer a rate of 7.99% right on their page , i wonder if thats a lure you in rate then they slam the whammy on the unknowing.

If i dont receive a reply in the next day or 2 and a rate reduction back to my normal rate then i will be transfering my balance to another company thats for sure! This has nothing to do with the current state of affairs and the credit crunch as many claim it does.

Rae
chicago, Illinois
U.S.A.

This report was posted on Ripoff Report on 10/10/2008 02:12 AM and is a permanent record located here: http://www.ripoffreport.com/r/Advanta-Bank-Corp/Salt-Lake-City-Utah-84130-0715/Advanta-Bank-Corp-Advanta-Credit-Cards-Raised-interest-rate-with-no-notice-whatsoever-Sa-379959. 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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REBUTTALS & REPLIES:
0Author 5Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Class Action Lawsuit Against Advanta

AUTHOR: DEC458@MSN.COM - (U.S.A.)

Advanta did the same thing to me and an attorney in NY who is now putting together a class action lawsuit against Advanta. Please contact me at my e-mail if your interested in joining.

Regards,
D Carpenter
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#2 Consumer Suggestion

Class Action Lawsuit

AUTHOR: Typical Consumer - (U.S.A.)

I had the same problem with them jacking my interest rate to 30.05%. Please contact me at (((ROR REDACTED))) if you would like to join one of the attorney's they did the same thing to as well in a class action lawsuit against Advanta.


CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

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#3 Consumer Suggestion

PLEASE ALSO FILE YOUR RIP-OFF REPORT ON OTHER SITES.

AUTHOR: Advanta Rip Off - (U.S.A.)

First, it is your your duty to report this FDIC. Please do it!

Advanta Bank is regulated by FDIC (Federal Deposit Insurance Corporation).
Here is the website link:

https://www2.fdic.gov/starsmail/index.asp


This company is on fraud list for many customers on many of these web sites.

Please also feel free to expose Advanta criminal activities on these sites as well.

http://www.complaintsboard.com/bycompany/advanta-bank-a7675/page/2

http://advanta-bank.pissedconsumer.com/

http://www.badcreditcards.org/AdvantaCard.htm


Advanta will probably never see another penny from most of these customers.

They have good reason not to pay penny to Dennis Alter.
Hopefully, FDIC will knock on door at Advanta soon.
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#4 Author of original report

Update: FDIC complaint filed

AUTHOR: Rae - (U.S.A.)

I filed a complaint with the fdic after receiving the standard form leter from advanta that they cant do a thing about it. I did write the ceo of the company and alerted him to what was going on and that he better do something about it soon, as im sure Advanta is not in the business of being in the spotlite for ripping off people or a potential class action suit. Lets see where this goes.
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#5 Consumer Suggestion

Please also report this RIP-OFF to FDIC (Federal Deposit Insurance Corporation)

AUTHOR: Advanta Rip Off - (U.S.A.)

It is your also your duty to report this FDIC as well.

Please do it!

Advanta Bank is regulated by FDIC (Federal Deposit Insurance Corporation).



Here is the website link:



https://www2.fdic.gov/starsmail/index.asp



If you do not report, people like Dennis Alter will get away this type of rip-off from small business folks like you. Dennis Alter should be jailed for this crime.
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