• Report: #408158

Complaint Review: Advanta Bank Corporation

  • Submitted: Mon, January 05, 2009
  • Updated: Mon, January 05, 2009

  • Reported By:Red Bluff California
Advanta Bank Corporation
Po Box 30715 Salt Lake City, Utah U.S.A.

Advanta Bank Corporation Unannounced Interest Increase fraud, interest rate, business card, unethical Salt Lake City Utah

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I will just get in line behind the other 246 complaints. Two years ago this was the rated the best small business credit card, and it was a great card. I used it frequently for business and paid off what I put on and even transferred a balance due to the fixed 7.99% rate. How can a rate be fixed if it can change at anytime? My credit is good, I pay bills on time. I have two car payments a mortgage and two credit cards. I have never been late on a single one, ever. I read my december statement and out of nowhere I am apparantly paying 27.xx% interest. I immediately called and cancelled the card. I was irritatted though so I called back and wanted to know the reason my rate changed and was told that I was deemed "high risk". If I deemed someone high risk the last thing I would do would be to make it harder for someone to make a payment! Anyhow, they claimed that they sent a notice that my rate was going to change and like many of the reports before mine, I did not get a notice or I would have immediately closed the account. They say that it was mailed and that is good enough for them. I have every statement from advanta along with the original brochure and application paperwork, I do not believe that a letter was ever sent. This is unethical and cannot be legal can it? Too many people did not recieve this letter and I think everyone should contact their Attorney General, if enough people speak up something will be done. Hopefully all these Advanta complaints will deter future victims.

Red Bluff, California

This report was posted on Ripoff Report on 01/05/2009 11:30 AM and is a permanent record located here: http://www.ripoffreport.com/r/Advanta-Bank-Corporation/Salt-Lake-City-Utah-84130-0715/Advanta-Bank-Corporation-Unannounced-Interest-Increase-fraud-interest-rate-business-card-408158. 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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