Complain about a product or service

Advanta

Sherry of Ft Wayne, IN October 23, 2009

I closed my store front in Feb and informed Advanta that I was out of business and to close my account. I now work from home. Kept making my payments but like the rest of you got the increased interest rate. No longer could make the payments since I don't make enough to make the monthly payments.Even if I mailed what I could afford it would include monthly late fee's and interest. I am not like some people who are still in business to get money from another credit card to pay this one off. I do (did) have a good credit score.

I have decided to not make my payments which is something I have never done. I get calls from India about 5 times a day. I only pick up the phone about every 2 weeks. I will either have to file bankrupcy or wait for them to turn me into a collection agency and work for a settlement. If I could find a bank to lend to me. I have been depressed about the whole situation. I had about 26,000 in debt from my business and had planned to pay it off. Now I really don't care if Advanta gets a dime from me. May the owners get what they deserve.

James of Catlett , VA October 21, 2009

My company is financial distress so I am calling all my buisness creditors and trying to assure that I can keep paying on time, its that bad , I dont even have money to pay my taxes this year. I asked the gentlman if we could at least reduce the rate so I can assure that the payments are paid on time. I was given a number to a credit councelor. I am a buisness owner and dont need counseling . I explained to him that we are trying to reduce our rates with all creditors. we know what to do its just that Advanta does not want to hear it , Soon I will not be able to pay them. Also they are the only creditor that is not willing to talk to you. The conversation goes like this after you have explained your case , They say. You need to call this numberand talk to them , I ask who is this management, what can they do for me?.

Then Im told Just call this number We are instructed to give this number out to any one who needs assistance. Its not till you call the number that you find out that they had you call a credit counselor. There is also a web site I found if you go to advanta.com you will find a segment page thar has testimony after testimony about how their Advanta acc. was closed down as was mine,after which their rates were drastically raised. So not only did they shut down all of their buisness accounts they raised the rates after. We are a professional company Liscensed insured , small operation we are honest people trying to do the right thing. Is there any one out there that can help. Frustrated Ps.Our acc. has always been paid on time

Catherine of Jacksonville, FL October 21, 2009

I feel so badly for many of you! Your stories are so similar to mine and it is heart breaking. I am fortunate in the fact that I was able to pay my balance off in it's entirety when they closed my account. When setting up my new business, I took the time to research credit cards on various websites making sure that I would choose the card with the best reviews. Ironically on 3 different sites independant of each other, the Advanta card was rated most beneficial! Obviously they did not take into consideration things like POOR CUSTOMER SERVICE as well as loan sharking. or predatory practices!

On May 26th I received a letter informing me that they were closing my account as of June 1st. This left me with 4 days to scramble and make arrangements for my business purchases. As if I have time to read their wordy contract for a loop hole allowing them anything less than 30 days to close my account. Today I received a check as well for 26 and change. My letter also had the standard hold harmless paragraph when cashing the check. Keep in mind my account has been closed for 4+ months and was paid in full at that time. I am NOT going to cash this check! I feel certain that there will be a class action suit regarding their practices and predatory policies. Stand firm people!

Gary of Irvine, CA October 20, 2009

Never late but will not lower interest rate of about 30%. The would cash check and not credit acc. for 3-5 days later so you would be in default.

Patricia of Spring, TX October 17, 2009

They closed my account and raised my interest rate to an unfair 34.99% and now tell me because my account is closed, they cannot lower the interest rate. I have been an excellent customer and they even agreed with that on the phone. It will take an incredibly long time to pay this off since 2/3 of my payment goes to the finance charges. We are a one income family and it is hard to make the payments.

Tom of Kenmore, WA October 17, 2009

Advanta small business card. Started interest at 7.99% now over 23.% Never been late. Carry a balance of over 20,000. This is sickening. Please help.

Craig of New Market, VA October 15, 2009

I have been an Advanta credit card user and like many others have had their accounts closed and interest rates raised to unjustifiable criminal rates. I have contacted Advanta many times and get a overseas (India) representative which is a stone wall. I can get no where with these people trying to get an interest rate that is within reason. My interest rate was 7.99 and has increased to 34.99% which to me is criminal. These credit card companies are getting away with loan sharking and something needs to be done about it immediately. It is creating a hardship for too many individuals and small businesses that are already suffering due to a dismal economy. What can be done about these high interest rates?

Darlene of Baton Rouge, LA October 10, 2009

As with all other complaints I am reading here, Advanta raised my credit card interest rates to 34% with no just cause. No late payments, no over-limit charges. Nothing. I called and asked why and they said their contract stated that they were free to raise my rates at will. I then asked for the payoff amount and payed the balance in full over the phone directly with a representative just to be rid of them. Next thing I know, I have a statement with an interest charge of 6.00 and a late fee of 39.00!

Because I had cleared and closed the account, I didn't look at the next statement that came in the mail. They showed my account having interest charges between the time I payed the balance pver the phone, and the time the bank draft actually completed. Their collections people called me every day for about two weeks and everytime I answered phone I let go the wrath.

Finally I guess they got tired of being yelled at and agreed to remove all activity from the card that had posted after I called my payoff in. My balance was only about 2000. I feel really bad for those trapped and unable to escape these criminals. I just received a "reimbursement" check for 9.37; by cashing I would release these idiots from any and all claims or actions.

I say bring on the claims and actions...I don't see much to gain personally, but will participate on principle and on behalf of all the other innocent victims caught up in this. I would like info as to what claims or actions are being taken and how to participate.

david of ottawa, IL October 10, 2009

first allowed charges from triple c- some kind of insurance that i did not authorize i 2009. asked it be stopped. advanta said they could not stop it or remove it. i called triple c which is owned by advanta, they put it on your acct. triple c said that they could not remove it, i stopped making a payment so they woluld remove it. finally 2 were removed. i had to argue and argue like crazy. that was some time ago. now i noticed only 2 were taken ooo and not the other 2, so i called them again, same thing. advanta, and triple c. then triple c said they would take the two off and this week i noticed on one fee of 14.99 was removed.

these people will argue and argue with you. i told them i was reporting them to consumer affairs and attorney general of illinois and the state where they do business out of , their main headquarters. then i spoke to them about the interest that has skyrocketed to 34% or 36%. this was after they said the account was going to be closed. i sasked them to lower the interest and they said that they could not make any changes on the account, yet they could raise the interest. today 10/09/09 i receive a phone call saying they will lower it to 16 %, and would I like it, of course I said yes, but i have it no where it was w when i opened the account. also i make payments on line, and get a confirmation #, and then later it comes back that it did not go through, and the funds were there. they think that they can do anything because the acct is closed by them. i have not been offered a check for 200 or so like i read some people have, but i will try another complaint offered thank you

Coleen of colorado springs, CO October 8, 2009

I have had the same experience as many of the other complaints posted here with Advanta. Initially, I opened this account with a balance transfer option with APR at 2.99% in July of 2005. All went well, I got the interest rate they stated, and I made every payment on time and for at least the minimum amount due. I also had an amount of purchases which had an APR of 7.99%. This rate changed frequently. Then in 2007 my interest rate on the purchases went up to 34.99%.

I called and was thanked for my excellent payment history, which led to my question of what's going on? They said something must have happened with the way I was managing my debt.? What? She really didn't know, couldn't explain, and didn't much care. I then received a notice in the mail that my interest rate was being reduced to 28.9% (Wow, what a gift).

I decided a couple of months ago to use the bill pay option from my checking acct. I set it up to pay that months Advanta bill. Being the first time I used this, I apparently did not go far enough in the program to actually "pay" the entries I had made. A different creditor called me, which is how I found this out. I then called the other creditors I had "paid" in the same event, one of them was Advanta.

The other creditors had no problem removing the late fee, and resetting, if applicable, my promotional low interest rate. Advanta, on the other hand, said they could not adjust the interest rate because the account was closed. They did, offer me a 200 credit (?) and give me the number of Consumer Credit Counseling? What? So, the end result is that my 2.99% interest rate is now 25.99%. My payments are outrageous, and most of it is interest.

I have continued making my payments to this company, but have felt abused and helpless in doing so! I have never missed a credit card payment with any of my creditors, and every month I seriously consider doing just that with Advanta, as I don't know what else to do. I recently received a check, like others here, for 298.30 stating that if I cashed it, I release Advanta from any and all claims or actions that might exist, or existed on the date of this letter than involve any Reprice Event.

This is not my area of expertise, but something just smells bad about this. That said, I don't know what to do. Thank you for the opportunity to share this difficult and stressful experience.

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