- Report: #369983
Complaint Review: Advanta - Salt Lake City Utah
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Author Confirmed
Why?
Advanta
PO Box 30715 Salt Lake City, 84130 Utah, U.S.A.
Web:
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Advanta Tripled Interest rate for no reason Salt Lake City Utah
I have been an Advanta small business card user since 2006 and had been paying 7.99 'fixed' interest on my balance. I have never been late, missed a payment or been over-limit. My credit scores are above 800 and I am offered credit on a regular basis.
When I noticed that my rate had soared to 25.08%, I assumed that some sort of mistake had been made. I called the company and was told that They had increased my rate based on a number of factors including the present state of the economy and that I was considered a risk to default. Well..I am now !!
I called 2 more times and spoke with supervisors who confirmed that I would not be able to qualify for a lower rate and offered no better explanation as to why.
Then I googled 'Advanta 7.99-25' and discovered that I am not alone!
One of the "supervisors" told me that in Utah there is either "no limit or maybe it's 39%" interest that is the maximum that can be charged !
Surely this kind of consumer gouging can't be legal....I am hoping that we can stand up to this deception an initiate a class action suit !!
Tony
Plantation, Florida
U.S.A.
When I noticed that my rate had soared to 25.08%, I assumed that some sort of mistake had been made. I called the company and was told that They had increased my rate based on a number of factors including the present state of the economy and that I was considered a risk to default. Well..I am now !!
I called 2 more times and spoke with supervisors who confirmed that I would not be able to qualify for a lower rate and offered no better explanation as to why.
Then I googled 'Advanta 7.99-25' and discovered that I am not alone!
One of the "supervisors" told me that in Utah there is either "no limit or maybe it's 39%" interest that is the maximum that can be charged !
Surely this kind of consumer gouging can't be legal....I am hoping that we can stand up to this deception an initiate a class action suit !!
Tony
Plantation, Florida
U.S.A.
1 Updates & Rebuttals
Tony
Plantation,Florida,
U.S.A.
Advanta CC Ripoff ---Take Action !!
#2Author of original report
Thu, October 09, 2008
Here is where to file a complaint: http://utah.bbb.org/WWWRoot/SitePage.aspx?site=139&id=ab12ce37-3680-42cc-9817-df71ecfda32e and: https://www2.fdic.gov/STARSMAIL/index.asp
