Advanta Bank Corp has really ripped off it's clients without blinking an eye I had a small business account with them for just about two years purchasing supplies as needed for my business as did a couple of my friends that had business accounts with Advanta Bank. They were planning on closing the accounts of all their clients on a very short notice and they did May 30 First of all a few months back interest on my account was at 10.17 % then it climbed to 20.17% I wrote questioning the increase with no reply a couple more months had gone by and I was researching for another company to deal with in the meatime my account interest rate had now jumped to 29.99% from these rip-off artists. As they also stated all accounts are being closed and at the current interest rate set on your account. I wrote them online since I was unable to get through to anyone by phone and my past experience they had not replyed to a mailed letter
When I wrote them I wanted to know why they had further increased my rate and without any provocation as I have always paid as agreed and I feel the rate is totally unreasonable and I would like to avoid being crippled down by such a outstanding interest rate.
I also stated that I feel this could be settled honestly and honorably like proper business should be conducted and considering the economy Well the answer I received by mail I was given some old story telling me I was late $38.00 on a old electric bill account and another one which was a final payment on a old account these go back a few years and that information was right there for them to see when I open the account with Advanta at the time. I have another friend on her business account was jumped to 34.99% as they closed her business account as well. Our goverment has allowed them to legally steal and rip us off. We need to put a strong stop to all this with the banks having all the control. The rest of us would rot in prison for what they have done. They did reply to my letter on line and stated how sorry they were but would be unable to change the current interest rate set on my account.
I wrote back stating you mentioned you are unable to change the rate on the account when in reality the fact is you won't change the rate on the account. I have never heard back from them again and I am stuck paying on a account at a 29.99% rate. Just how many thousands of people have they done this to?
The Big Rip-Offs
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