- Report: #361489
Complaint Review: Advanta Business Cards - Salt Lake City Utah
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Author Confirmed
Why?
Advanta Business Cards
P.O. Box 30715 Salt Lake City, 84130-0715 Utah, U.S.A.
Phone:
800-705-7255
Web:
N/A
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Business Rating:
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Tell us has your experience with this business or person been good?
Advanta Business Cards Tripled interest rate without cause. Salt Lake City Utah
I received a small business credit card offer from Advanta with a 12% APR offer. Interest was a little high but as a new business I accepted the offer.
I have had the account for approx. 2 years never a late payment always paid twice the minimum payment. Advanta increased my APR to 34.99 % without notification.
I called and the only explanation they could give me was the economy was bad and that may me a higher risk. "account manager" claimed to have mailed me a letter in May stating that the rate was increased. I never received such a letter. I requested to close the account and pay off balance at original rate, they stated that I was "outside the window of oppurtunity" to do that.
I was never given the notice or "window of oppurtunity". No one in there right mind would agree to a 34.99 % APR.
I am contacting the Florida Attorney Generals Office as well as the FDIC. I am also awaiting a call back from an attorney in Texas that is working on starting a new class action suit.
Robert
Bushnell, Florida
U.S.A.
I have had the account for approx. 2 years never a late payment always paid twice the minimum payment. Advanta increased my APR to 34.99 % without notification.
I called and the only explanation they could give me was the economy was bad and that may me a higher risk. "account manager" claimed to have mailed me a letter in May stating that the rate was increased. I never received such a letter. I requested to close the account and pay off balance at original rate, they stated that I was "outside the window of oppurtunity" to do that.
I was never given the notice or "window of oppurtunity". No one in there right mind would agree to a 34.99 % APR.
I am contacting the Florida Attorney Generals Office as well as the FDIC. I am also awaiting a call back from an attorney in Texas that is working on starting a new class action suit.
Robert
Bushnell, Florida
U.S.A.
1 Updates & Rebuttals
Friendly Help
Anderson,South Carolina,
U.S.A.
Pay off the card, Robert. Get a loan if you have to.
#2Consumer Comment
Mon, August 11, 2008
CC banks suddenly jacking up interest rates for no reason other than ''because...'' has become a standard means of squeezing money from vulnerable persons, i.e. people with revolving balances. The CC banks call people with revolving balances ''revolvers''. The CC banks call people who pay off their balance every month ''deadbeats''. Your best place to get a CC is at a credit union. Look around to see if there is a good one you can join. I belong to 3 credit unions.
