Advanta Bank Credit Card Complaint

Adavanta Bank - Small Business Credit Card

Jaylaca's Picture Reviewed by Jaylaca
Complaint 		 0

I had a small business Mastercard with this bank. My card had been at 12% for a few years with around a $5000 balance. Paying it off slowly. Never late. A couple of months ago the finance charge was huge. I noticed my APR was now 32% and most of my balance was at 37.18% APR (cash advance rate from a balance transfer). I called to ask what was going on and they said they upped it (and I quote) "For No Reason". Then when I pressed I was told, "Read your terms & agreement, we can do this if we feel it's appropriate".

To date, this is the worst credit lending bank I've ever encountered. This company does not account for mistakes on their behalf and they charge excessive rates & fees. The "customer service" has been outsourced to another country. The language barrier does not help clear up problems.

From there it's a frustrated tale of securing another card, transferring the balance and getting them to stop nickle & diming me on payment fees and daily finance charge accruals to actually get a zero balance and be rid of them.

Advanta Bank Corp and their credit lending is the worst company I've ever dealt with. They will not work with you. They are criminal with this 30%+ APR nonsense and treat people with the coldness of an institution that is accountable to no one. I'm very happy to see them go.

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advantavictim says: (10 months ago)
 0
7.99 to 32% fico 780 never late... When will the FDIC do something about ADVANTA!!!!! File a complaint with the FDIC when they get 800 they have to do something!

Jaylaca says: (10 months ago)
 0
I see a "Please Improve" next to my review of Advanta. I certainly will NOT! The company deserves to be exposed for the unethical practices it is currently exercising. The only improvement needed is the behavior of this institution.

ysny says: (10 months ago)
 0
We have same issue here.
We got offer for ADVANTA Master Card with 7.88% APR in 2001. Then ADVANTA inclease 30.99% in 2002 --> 33.99% in 2003 -->36.99% in 2004 --> 39.99% in 2007!!!!!
They didn't give us a good reason to explain when they inclease the rate and why they are not able to declease the rate.

They should be out of business and pay the overcharged fees to all the customers!

davp says: (11 months ago)
 0
In the beginning I started this Advanta mastercard with 7.99 % APR.
But, without notice, this company increased with 32.99 % APR.

My credit score is excellent.
I and my business have been never late on payments. They overcharged unreasonable interests for three months. We called to this company a few time to correct it. But, their answer is no, and completely not understanderable. I am going to close my account as soon as possible.




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