Report: #395863

Complaint Review: Advanta Bank Corp Credit Card

  • Submitted: Fri, November 28, 2008
  • Updated: Fri, November 28, 2008
  • Reported By: Columbia South Carolina
  • Advanta Bank Corp Credit Card
    PO Box 30715
    Salt Lake City, Utah

Advanta Bank Corp Credit Card SCAM! 2.99% to 38.18% !!! UNETHICAL! Salt Lake City Utah

Show customers why they should trust your business over your competitors...

I have had an account with Advanta for slightly over two years. I signed up under the intro rate of 2.99% (life of balance transfer) - I never charged anything on the card other than what I transferred to it initially. I have excellent credit and have NEVER been late on this card. In May of this year I made an electronic payment which was 'kicked back' three days later due to insufficient bank routing #.

I called and the lady told me they had a 'system glitch' over the weekend (I made the payment on Friday) and not to worry she would fix this to where I wasn't late and wouldn't owe a late fee. "Great!", I thought to myself, and went on about my life. In October of this year my husband just happened to notice my statement and that the rate was a whopping 20.31% !! O -- M -- G!!

I have never, ever paid anything remotely like that in my entire life! I called Advanta and expressed my disgust and told them that what they were doing was unethical and to reduce my rate! They declined. I was carrying a $7,000.00 balance - Out of sheer disgust I found a way to pay the entire balance off by the next due date to avoid such unreasonable finance charges. I told them to CLOSE out my account and to kiss off, essentially. Here is where it gets GOOD. Listen to this CAREFULLY FOLKS......

SO I paid the ENTIRE BALANCE OFF, IN FULL, LAST MONTH at the outrageous rate of 20.31%. I received a bill TODAY in the amount of $171.14 AT THE INTEREST RATE OF 37.18% !!! Are you *&##!@# kidding me?? So, I called "Lana" who advised me that yes, they did increase the rate LAST MONTH and sent me a notice THAT I NEVER RECEIVED and told me I missed the "opt out" grace period.

The reasons they gave for the increase were totally bogus. I have a 820 beacon score and have never charged anything on the card since I transferred the balance TWO YEARS AGO. This company is absolutely the WORST I have ever delt with. Attorneys, media, whoever, contact me. I can verify all of the above stated.

To consumers - BEWARE! I don't know where to go from here, or even if all the reporting in the world (to various agencies) will make a difference but SOMETHING MUST BE DONE. I didn't even know a $38% interest rate EVEN EXISTED! The most I have ever paid on a credit card at any point in my life was 9%! They jacked my rate up after sabotaging a late payment and jacked it up again AFTER I closed the account! If I didn't have to pay off the $7,000 balance I'd hire an attorney just out of principle!

Columbia, South Carolina
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This report was posted on Ripoff Report on 11/28/2008 09:13 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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