ADVANTA BANK CORP DECECEPTIVE PRACTICE OF 15 DAY NOTICE OF RATE CHANGE SALT LAKE CITY Utah

I would like to report a complaint against ADVANTA BANK CORP for deceptive practices. We own a small business and use ADVANTA revolving credit. We have never missed a payment and have always paid much more than what was due. Our FICA score has always been very good.
On June 5, 2008 I received notice of an increase of interest rate going from 9.99% to 19.99%. The letter stated I had until June 2, 2008 to opt out of this rate. This notice was dated May 16, 2008, and deceptively printed on the back of 3 cash advance checks (which we did not use). I wrote Advanta to opt out of the new credit card terms.

On September 5, 2008 I received notice of an increase of interest rate going from 19.99% to 29.99%. The letter stated I had until September 2, 2008 to opt out of this rate. This notice was not dated but once again was printed on the back of 3 cash advance checks (which we did not use). Upon receiving this notice I wrote Advanta again to opt out of the credit card terms.
On December 9, 2008 I received notice of an increase of interest rate going from 29.99% to 37.18%. This letter stated I had until December 2, 2008 opt out. This notice was not dated and once again deceptively printed on the back of 3 cash advance checks. I had to wait 4 days to see the actual rate change (on the internet). The actual bill did not come for 7 more days. Indeed they did increase the rate and ignored my letters.

I then called Advanta to request lowering the interest rate; unfortunately Manager John said there was not anther rate available. I then questioned the timeliness of the notices.

In all three rate hikes I had received the notice too late to do anything about it. They state that first of all they did not receive my letters, and continued with even if they had received my letter it would have been too late to implement, since they are only required to give a 15 day notice. I questioned the mailing date of the notices since 2 of the interest rate increases were not dated. They stated that once they are printed it usually takes several days to a week to get them processed before mailing. The 15 day notice is including the processing and the mailing is clearly not enough time to allow the consumer to respond and I believe that was their deceptive intention. I sent complaint letters to:

Ethics Officer at Advanta Corp.
Welsh & McKean Roads,
P.O. Box 844,
Spring House, PA 19477
Attention: Ethics Officer

Advanta Bank Corporation
11850 S ELECTION DR
DRAPER, UT 84020.
Tele: 523-0858 ... M. Danny Wall, President.

Disputes:Advanta Customer Service
PO BOX 30715
Salt Lake City, UT 84130-0715

Advanta Corp. Headquarters
Welsh & McKean Roads
Spring House, PA 19477

Better Business Bureau (check your local BBB)
WWW.BBB.COM
(Chattanooga, TN)
1010 Market Street, Ste. 200
Chattanooga, TN 37402-2614
Phone: (423)266-6144
Fax: (423)267-1924
Email: tngabbb@bellsouth.net
Web: http://www.chattanooga.bbb.org

Federal Deposit Insurance Corporation
Division of Supervision and Consumer Protection
Consumer Response Center
2345 Grand Boulevard, Suite 100
Kansas City, MO 64108
1-877-ASK-FDIC (1-877-275-3342)

www.clarkhoward.com

Carol
BLAIRSVILLE, Georgia
U.S.A.