- Report: #335048
Complaint Review: Advanta Band Corp (Advanta Credit Card) - Salt Lake City Utah
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Author Confirmed
Why?
Advanta Band Corp (Advanta Credit Card)
www.advanta.com 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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Advanta Bank Corp (Advanta Credit Card) ALERT: HIGH FEES, FINANCE CHARGES - Example: payment $549.00 - finance charge $361.91, fees $39.00 = 149.09 payment. Salt Lake City Utah
Beware of credit card companies. Advanta made a very inviting offer.
However, a cashflow problem turned this "GREAT CARD" into a nightmare.
Example: I called Advanta to make a phone payment. April 18, the phone pay was for 200.00. On May 2, the paymnet was 349.00 (more than the phone pay ask).
May 15, the "bank card" charged a finance fee - 361.91. The company made the charge on MY credit card!
To get this money, Advanta made a "PURCHASE' OF 233.35 PLUS A CASH ADVANCE OF 128.56. AN OVER THE LIMIT FEE OF 39.00 IS CHARGED FOR THE CASH ADVANDE. THE CARD IS MAXED OUT, due to all these fees, etc.
How can a company use my credit card to make a purchase or cash advance, then charge me again with another fee! With all this activity, I now have a credit card bill of 13,000.
NOT ALL CROOKS CARRY GUNS. NOT ALL TERRORISM IS FOREIGN.
Doris
McKinney, Texas
U.S.A.
However, a cashflow problem turned this "GREAT CARD" into a nightmare.
Example: I called Advanta to make a phone payment. April 18, the phone pay was for 200.00. On May 2, the paymnet was 349.00 (more than the phone pay ask).
May 15, the "bank card" charged a finance fee - 361.91. The company made the charge on MY credit card!
To get this money, Advanta made a "PURCHASE' OF 233.35 PLUS A CASH ADVANCE OF 128.56. AN OVER THE LIMIT FEE OF 39.00 IS CHARGED FOR THE CASH ADVANDE. THE CARD IS MAXED OUT, due to all these fees, etc.
How can a company use my credit card to make a purchase or cash advance, then charge me again with another fee! With all this activity, I now have a credit card bill of 13,000.
NOT ALL CROOKS CARRY GUNS. NOT ALL TERRORISM IS FOREIGN.
Doris
McKinney, Texas
U.S.A.
1 Updates & Rebuttals
Robert
Irvine,California,
U.S.A.
Ummm...
#2Consumer Comment
Wed, May 28, 2008
There is a lot of missing information. So I am not sure if you felt this was free money, and didn't know you had to pay it back or you spent more than you expected and this caused your "cash flow" problems. Which ever the case it appears you have no clue on how credit cards work. You seem to have no concept of "interest". Anytime you carry a balance(this is when you don't pay off the entire card at the end of the month) you are charged interest on that money. They did not "charge" your card $361 dollars, what they did was assess interest charges on the unpaid balances. With the break-down they gave they assessed $233.35 in interest for your regular purchases, and $128.56 for the cash advances you took. This is going to happen every month you do not pay off this card, with the exact amount being based on the current balance. So if you don't pay this down, this amount is going to go up every month. As to the Over the Limit fee. If you are over the assigned credit limit they will charge you this fee, and again every month you remain over your limit. This like the interest rate was disclosed to you when you opened the account. If you failed to read and understand the terms that is not the fault of this credit card. Now, in your favor you did not mention a late payment fee. But you will also be assesed a late payment fee if you do not the minimum payment they require by the due date. Even 1 day late will get this fee assessed. Just based on the interest amounts your minimum payment should be around $400-$500 a month, but at 13K it is going to take you a decade or two to pay this off. You either need to pay much more than the minimum amount or get into Credit Counsling ASAP. Also, if you have not already done so, cut that card up until you can get a better handle on how to handle credit.
