Comments on: Advanta Credit Card Complaints Likely to Rise

By: Balance Transfers Helper

Balance Transfers Helper — Fri, 11 Dec 2009 15:49:21 +0000

Karen,

How much are the checks for? This is the first time I’ve heard of this issue.

By: Karen Pines

Karen Pines — Fri, 11 Dec 2009 02:23:48 +0000

I had advanta. They lied to me from the beginning and I closed my account. My debt with them is being charged a rate of 34% interest, I would love to get together with otherowners and have a class action suit. I received from them 2 small checks. If I accepted these checks I agree notto sue them. GTodate I have not signed these checks,Are there others out there in the same boat, please contact me.

By: Balance Transfers Helper

Balance Transfers Helper — Wed, 28 Oct 2009 15:12:48 +0000

Liana,

The problem here is that Advanta basically shuttered its operations. If you have been unable to reach them using the number of your monthly bill, they may in fact be out of the country.

By: Liana Mirea

Liana Mirea — Wed, 28 Oct 2009 00:32:40 +0000

I am in the same boat with Mary, however they incresed my interest rate without being late ever!
Now I have 35% interest rate, I wrote them a certified letter, I faxed it to them, never heard back anything! This month I decided I am not paying them any longer, unless they are going to adjust that rate! Any ideas how and where I can get some relief with this card?
All the people are out of country!

By: Balance Transfers Helper

Balance Transfers Helper — Thu, 04 Jun 2009 16:43:20 +0000

Mary,

Unfortunately, there is little that can be done to reverse a rate increase triggered by a late payment and I am very sorry you have found yourself in this position. Ultimately, paying back your Advanta card at 29% will be quite difficult, as the interest expense will be close to $5000 a year. Thus, I would look into getting a bank loan or a balance transfer from another issuer as soon as possible. You may not be able to get a large enough credit line with one credit card to cover the entire outstanding debt, but you may be able to cover it with multiple cards so long as you have good to very good credit and an established business credit history.

I wish you the best of luck. We can all use a turnaround in business these days and credit card companies surely aren’t helping out by raising the cost on both small business owners and consumers.

By: Mary Goodman

Mary Goodman — Thu, 04 Jun 2009 00:39:41 +0000

After learning by email on May 26th of the Advanta business Card account closing May 30th I called to seek if the APR was to stay the same as I have had at 9.99% for over a year. The account I have had for 5 yrs. I was assured the APR was not to change during this process. I received my May 21st statement to find out my APR went up to 27.99% from 9.99%! We have had prompt monthly payments for 5 yrs! This year has been especially tough due to an economic slow down of our business however have been able to make the 300.00 or so monthly payments except April’s payment was 4 days late. When I inquired on phone with a supervisor he told me the rate went up because of this late payment. I assured him that this rate increase will be very difficult for us to do and I do not want to fall behind in my payments. He stated he could not help me. I asked him to consider how unreasonable this rate increase was and to please reconsider. He would not. I am at a loss as to how we will manage our new monthly payments at this rate. Our balance is 14,000 dollars. I know this is outrageous and I have filed a complaint with the FDIC. Transfering my balance is a thought at this time. Considering it seriously and very upset with Advanta. Any recommendations?