Advanta arbitrarily increased an existing account interest rate which was started by a promotional invitation. The account was in good standing even tho the promotional rate expired, it was being paid down with no incidences. They said they sent a change of terms letter which was never received.
First notice of this was on a statement which I called on immediately. No customer service rep was able to satisfy the request to withdraw the increase even tho they saw there was nothing wrong with the account. One rep suggested I opt out of the account, have it closed and continue to pay off the balance at the old terms. He closed the account, but they refused to allow me to opt out and continue to charge me these egregious interest rates even tho I am still paying on the account. The interest charges are more than I charge on the account and since it is closed have not made any new charges.
In fact, there were very few new charges on this account to keep the balance manageable for payment on a timely basis. I take great efforts to pay my bills on time and honor my credit commitments. However, this is totally unfair and pushing me to default when I didn't want to do so. Very poor client relations and no contact to work out the terms whatsoever after repeated efforts on my part to contact them. They continue to ignore and charge rates I refute and totally disagree with and do not want to pay.
I sent them a letter FAXED the day the account was supposedly closed to ask for a settlement amount which they didn't give so I gave them the amount expecting there would be some interest to settle, but now don't want to pay them at all any interest due to their poor business manners.
The company needs to be reprimanded and consumers made aware of their habits which I see from all the rip off reports already online.
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