- Report: #392262
Report - Rebuttal - Arbitrate
Complaint Review: Advanta
AdvantaWelsh & McKean Rds Spring House, Pennsylvania U.S.A.
Advanta Ripoff Bait And Switch.CEO Dennis Alter Is A Liar With Zero Integrity Offered 3.99% for 2 years and 3 months later jacked my rate to 37% , Spring House Pennsylvania
*Consumer Suggestion: ATTENTION ALL ADVANTA CREDIT CARD CUSTOMERS
*Consumer Suggestion: Class Action Lawsuit
*Consumer Comment: You're not alone
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Ok People listen up because this will save you thousands of dollars. Advanta works like this;
When you start a company you file with the state. Advanta takes that info and if you have good credit they offer you huge lines and low rates. BUT DON'T BE FOOLED BY ADVANTA. They will send you checks offering rates like 3.99% good for 2 years. But the second you use it they hammer you by reversing the deal, keeping your balance transfer fee of $1,000 and jacking your rate to 35+%!! They also raise your minimum payment to 4% of what you owe. Trust me, these are huge payments and at 37% the balance never goes down. I was a loyal customer for 10+ years. I was never late and I was well under the limit. I was also never notified.
So if you ask yourself what kind of a sick person created this corrupt loan sharking operation? Well his name is Dennis Alter. He's the founder and CEO and he lulls you into trusting because you think he's a great guy who "gets" small business. He writes papers cheering on small business. He does interviews with professors from Wharton and politicians from Delaware (where there are no limits on interest rates). He collects art and donates paintings. He gives lots of money to crooked politicians in all the right places. He builds buildings at his alma matter. In other words, he is just like any other corrupt CEO.
But what makes him really disturbing is that evidently he thinks he's a good person. Most corrupt CEO's know what they are. Dennis Alter doesn't.
I have to pay Advanta off because I must have good credit. I have dreamed up every way possible to not pay these people after what they did to me. But they hold my credit hostage so I just have to pay this and chalk it up to one more company that earned my trust and took advantage of me.
Dennis Alter is a very sick old man.
Advanta- Don't do it.
CEO Dennis Alter is a criminal Pig
This report was posted on Ripoff Report on 11/17/2008 11:59 PM and is a permanent record located here: http://www.ripoffreport.com/r/Advanta/Spring-House-Pennsylvania-19477/Advanta-Ripoff-Bait-And-SwitchCEO-Dennis-Alter-Is-A-Liar-With-Zero-Integrity-Offered-399-392262. 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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