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Report: #411120

Complaint Review: Advanta Corporation - Spring House Pennsylvania

  • Submitted:
  • Updated:
  • Reported By: Surprise Arizona
  • Author Confirmed What's this?
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  • Advanta Corporation Welsh And McKean Roads, Spring House, Pennsylvania U.S.A.

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I have an Advanta fraud card. My credit score was over 800! and they raised my interest rate to 35.5%. It is a business credit card since I am a small business owner. I contacted them for an explination. Thier reasoning and explination was "It was nothing you did, its the economy." She also said "we audited our accounts and re-assessed them". I refuse to pay this criminal organization. I filed a complaint with the AZ state attorney general. They said they couldn't do anything and referred my complaint to the FDIC. They too said they couldn't do anything.

Our country is lost all humanity and good will towards others in the corporate world. This is loan sharking at its finest and sanctioned by the government. If you are serious about making a stand now is the time! Banks are receiving billions of our tax dollars with no stipulations as to how to use it and they are raping us financially. Please, please help me and make a stand.

Randy
Surprise, Arizona
U.S.A.

This report was posted on Ripoff Report on 01/12/2009 01:01 PM and is a permanent record located here: https://www.ripoffreport.com/reports/advanta-corporation/spring-house-pennsylvania-19477-0844/advanta-corporation-unjustifiably-raised-interest-rate-to-355-spring-house-pennsylvania-411120. 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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#4 Consumer Suggestion

Some constructive advice

AUTHOR: Steve - (U.S.A.)

POSTED: Wednesday, January 14, 2009

Pay the card off and stick it in your sock drawer permanently. After all 35.5% of $0 is $0.

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#3 Consumer Comment

It appears that Advanta may be running a gigantic Ponzi scheme!

AUTHOR: Robert - (U.S.A.)

POSTED: Wednesday, January 14, 2009

I was just looking at the Yahoo!ADVNB stock board. Investors there are claiming a 39% return on their investments!!! ***WOW!!!*** That is HUGE in today's market environment.

While Advanta is supposedly paying out these very high dividends it is also trying desperately to raise cardholder interest rates to almost exactly match those claimed dividend payments. At the same time Advanta stock has lost 95% of its value; much of that loss has occurred just since these rate jackings began.....it makes no sense at all. It is an impossible business model.

Isn't that how a Ponzi scheme works? Rob one group of people to pay another? looks like that may be what Advanta is attempting to do.

Beware! Run away as fast as you can.

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#2 Consumer Comment

Move away from the Scam for your own good!

AUTHOR: Xtro181 - (U.S.A.)

POSTED: Tuesday, January 13, 2009

ADVANTA BankCorp is corrupt and greedy. ANyone who has filed a complaint knows this. New laws recently passed in Congress won't take effect until 2010 and they address some of this extortion by banks.

In the meantime... I place signs all about my small business saying, clearly:

"WE DO NOT ACCEPT ADVANTA CARDS"

It is the best I can do. I urge other small businesses to do the same.

Wen asked why I Do not accept the card, well then I will tell my story.

I DO await for the ADVANTA bailout though! When I hear this, I just might get even more angry!


Bob

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#1 Consumer Suggestion

Scam Alert: Advanta Dennis & Gisela Alter Ripoffs Exposed

AUTHOR: Advanta Rip Off - (U.S.A.)

POSTED: Tuesday, January 13, 2009

Dennis & Gisela Alter "Advanta stupido lowlife scumbag"

If you are serious about reducing your interest rate from Advanta, write letters directly to this address.

DENNIS & GISELA ALTER - Advanta CEO

7111 SHEAFF LN

FORT WASHINGTON, PA 19034

You need to write few letters every week for prompt action. Folks, it worked. Interest rate went down from 37% to 15% within three months. It is definitely lot better than writing letters to bunch of government agencies. And you have nothing to lose for sure. Good luck!

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