- Report: #455396
Complaint Review: Advanta Bank Corp.
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| Advanta Bank Corp. advanta.com
Salt Lake City, Utah U.S.A. |
|
Advanta Bank Corp. Promised 7.9% business ccard; but raised the rate to 45%. Salt Lake City Utah
*Consumer Comment: You got most of it right
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This report was posted on Ripoff Report on 05/26/2009 12:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/Advanta-Bank-Corp/Salt-Lake-City-Utah-84130/Advanta-Bank-Corp-Promised-79-business-ccard-but-raised-the-rate-to-45-Salt-Lake-Cit-455396. 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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Search Tips#1 Consumer Comment
You got most of it right
AUTHOR: Flynrider - (U.S.A.)
SUBMITTED: Thursday, May 28, 2009
Next time read the card agreement before running up a big bill. I'll give it to you in a nutshell. There is virtually no way to guarantee how much you will pay in future interest on an item you purchase today. All credit cards are the same in this respect, which is why it is stupid to borrow money this way. Would you sign up for a car loan that said the bank can change your monthly payment and interest rate whenever they liked? Of course not! But that is exactly what you do when you borrow via a revolving credit agreement.
Your options are to pay it off or transfer the balance to a more reasonable card (with no guarantees that they'll stay reasonable).
