Advanta Bank Cancels Accounts in Good Standing Without Notice Spring House Pennsylvania
I have had a small business account with Advanta for several years and have always paid the bills on time. Most recently, I have paid the balance off each month in full. Today, I went to use the card and was told that there was "no account" when the merchant tried to process it. I called and was told that they had sent me a letter yesterday canceling the card. When I asked why, the supervisor told me she could not access the letter that they had sent. I told her that I thought it was not good business to cancel cards with no advance notice or explanation, but I got nowhere. I see Advanta's stock is now 37 cents a share. But the supervisor claims the bank has not taken any government money.
The bank has also constantly ripped me off when it comes to the "cash back" that I was promised when I opened the account. I am going to go over the past statements with a fine tooth comb and file a small claims suit for the money I did not get. I'd be interested to know if other people have encountered these problems.
Wildwill
Cavendish, Vermont
U.S.A.
1 Updates & Rebuttals
DEC458@MSN.COM
Cleveland,Tennessee,
U.S.A.
Advanta Closing Inactive Accounts
#2Consumer Comment
Sun, March 22, 2009
Advanta reported on AmericanBanker.com a few months ago, back in the late fall that they would be closing 200,000 inactive accounts on top of the normal 10,000 accounts they usually closed. It looks like you were one of those. Be glad your haven't used it because Advanta rates jacks any of their customers these days that run a balance to as high as 44%.