Complaint Review: Advanta Bank Corp

This company offered me this credit line at 7.99% APR in October of 2007, and decided that "Due to a recent change in my credit history", they could no longer offer that rate to me.

They decided now that I'm only worthy of a 37.18% APR, yet when I asked them what had changed so significantly in my credit, I was told that they didn't have that information. I then went and got a copy of credit report and amazingly I had a great credit score with NOT ONE mark against me.

Advanta made the decision to jack my interest rate up without one late payment to them and a monthly payment exceeding the minimum due since I signed up for this credit. I'm outraged that they have the nerve to attack my credit standing and in turn are now charging me $475.00/month in interest!!!

With the economy the way it is right now and the cost of supplies within any business going up, this is the last thing that ANY business owner needs. This company is nothing but CRIMINAL!!! I hope that a stand is taken against them and that other business owners and consumers that have been taken ADVANTAge of by this company are compensated.

Salon owner
Bismarck, North Dakota
U.S.A.