Advanta Bank Corp. Small Business Card Advanta has raised my APR to 35.49% Salt Lake City Utah
I am a small business owner, a Contractor that is struggling to make ends meet. Advanta has raised my APR to 35.49%, making it impossible to even make the minimum payments. I have called several times to request a reduction in the APR and I get the same answer every time, no lower rates available, If I pay the minimum payments on time for the next 12 months, they will review and let me know.
Advanta informed me that if I was having a hardship to send them a letter explaining what was going on. I did this and now they tell me that my account has to be delinquent for 60 days or more before anyone will review this account.
I am only late by 10 days as of today, I have been called everyday by someone who says they are from Advanta, the people that I have talked to , come to find out, is from a collection agency Advanta is using to collect, and harass and informed me that they have the legal right to call me anytime they please.
I am at my wits end and need to join any and all other Small Business Owners to put a stop to this "Legal Theft"
Jim g
Fayetteville, Georgia
U.S.A.
3 Updates & Rebuttals
DEC458@MSN.COM
Cleveland,Tennessee,
U.S.A.
Response to Az
#4Consumer Comment
Tue, November 25, 2008
What Advant seems to be doing is they access your personal credit report and FICO scores to grant you an account. They don't even check to see if you really exist. Nothing shows up on your personal record as an inquiry or anything. They are using this to circumvent the FCRA rules because they claim they are business credit even though they used your SSN I bet to setup the account. So, if indeed they were a true business credit card instead of what they really are doing, they would have to stop harassing you under the rules of the consumer protection laws and FCRA, but don't because they don't think they have to.
Az Homeowner
Flagstaff,Arizona,
U.S.A.
Advanta will not stop harrassing you if your payment is late - EVER
#4Consumer Comment
Fri, November 21, 2008
After knee surgery, Advanta begrudgingly put me on their hardship program for 6 mos. and told me that I could get an extension. My minimum payment on the program was near $200/mo wtih 0% interest for 6 months. I had a second knee surgery 4 mos. into the program and my husband lost his job a few months after that, so when it came time to request the extension I was denied since "I should have recovered from my surgery already and hardship programs were ONLY for medical problems, NOT loss of income." Excuse me?!
Once the program expired, my interest shot up to 26.9% and my minimum payment was over $400/mo. which was impossible to make. Advanta began calling me nonstop from 8 am -10 pm every day on my home and business/cell number. Under the Fair Debt Collection Practices Act they are not allowed to harass you, nor are they allowed to contact you on your cell or work phone. This continued for 2 months to the point where I disconnected my phones.
Prior to this, I had a 720 credit score and had never even been late on a payment for any creditor. Now I in the middle of a bankruptcy case and Advanta continued to call me AFTER I retained an attorney and notified them. I had to get my attorney to get the calls to stop.
Advanta claims to be the credit card for small businesses, but they do everything they can to make sure that we don't survive.
Rae
Chicago,Illinois,
U.S.A.
update on what i did
#4Consumer Comment
Tue, October 28, 2008
i wrote an email to the ceo and cfo after i filed a complaint with the fdic. Lo and behold they dropped my rate and reversed the excess interest charges. Received a letter from them the other day saying i opted out of their recent change in terms but they also said they have closed my account !!!!!!! Went online and checked and i still have a balance but cant access any credit or cash ....dont really care about that but now im wondering if they are expecting payment in full and will pull some bs maneuover to charge excess rates again on balance due. Everyone beware !!!!!!!