Complaint / Review
Advanta Bank Credit Card
Advanta Bank Increased My Interest Rate to 35%

I opened my statement last week and found out that Advanta had increased my rate to over 35%. I called their home office and low and behold, they claimed they had every right to based on my credit history, Fico, and current debt amount.

I asked them to close my account. I did some credit card transferring to get my balance down to zero. I filed a complaint with the Utah BBB, the FDIC, the FTC, most of the known news agencies, attorney generals, etc. The only effective one was Advanta responded to the Utah BBB complaint and refunded my interest overcharge.

Advanta's predatory lending practices need to be stopped. I also contacted the folks in Washington who have been working on legislation to try and prevent the credit card companies from doing this type of thing, especially if your late on a payment. I will keep on fighting to see they get thier just reward.