Like many other small business owners I to am a victim of Advanta Bank. I have Never had a late payment to this credit card yet I am charged 35.99 % interest. This is Imoral, Unjust, and just plain Wrong. I have now refused to make any further payments to this bank. After calling twice to ask why I was being charged this rate I was simple told that it was "The Best that we can do for you". What B.S.
I am a hard working small business owner. Like many small business owners I work 80 - 90 Hours a week. We are having a hard time like many in this economy, but pay our bills and employees on time. Yet we are subjected to the Loan Shark Tactics of Advanta, Dennis Alter & the Board of Advanta Bank. Al Capone went to Jail for charging the outragous intrest rate of 15%!
I must assume that Mr. Alter must have missed the meeting with President Obama! We need another Class action Lawsuit against this company. Why does the credit card legislation not take effect until Next Year? It should have been retroactive & rebates should have been given for over charges! Advanta banks actions are illegal by the terms of the Credit reform act that was recently Passed, yet they continue with the Same policies only because thery can get away with it! No one should be paying them!
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