We had been a good customer of Advanta for 9 years with a perfect record of payment. When we wnet to purchase new inventory the begining of June the card was declined as cancelled. We found out later Advanta had
cancelled all cards with no notice. This seriously hurt our business.
We also had a guaranteed interest rate of 12%, and as soon as the card was cancelled, we had 2 increases... To 24.9% then again to 33.9%
with no notice or explanation. All letters to Advanta went unanswered, and
all calls were met with "sorry we can't help you". This is a business killer as well as criminal on their part, and deserves an investigation and a class action lawsuit. We reported this to the FTC, but don;'t expect much.
They are scum as far as we're concerned.
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