It all begins with a sales pitch from acompany "Advanta" claiming to really care about the small business owner. They offered a low interest rate 9.99%... Stupid me, I paid my bill on time every month then suddenly I get a notice that my interest rate has jumped to 38% making my payments shoot up so high that I could not afford to pay them. I paid them for a couple of months and then just quit paying but called them and tried to change the rate back to something workable. No, no, they ran a credit report, arbitrarily, and said I was a high risk so therefore I had to pay more interest just in case I would default. There are at least 5-8 phone calls a day mostly from India and none understandable.
Then I find out that there are only two (2) states in the US that can charge exorbitant interest rates one is Utah and one is Delaware. Of course, now it makes sense that Advanta is located in Utah with a high end interest rate of 39%. Is this state run by the mob. Or is this how Utah entices credit card companies to Charter their businesses by letting them rip off the unaware small business owners around the country.
Anyone interested in a Class Action!
Notify me.
Micki
hey micki
Thanks for the venue to shout it out...
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