Advanta Credit Card Is A Ripoff And Fraud

**Ed the Roofer** · 10-10-2008, 06:09 PM

Now I have to deal with Advanta and there unethical interest rate increaes.

Advanta is a fraud and a complete rip-off. Had you asked me one week ago, I would have stated that they always dealt fairly with me before for years.

They always treated me fair in the past, but my "Locked In" 7.99% rate just got bumped up to 30.08%

I will be making that phone call today, during business hours, because there was no one to answer the phones this evening.

"I'm sorry, you have called past out normal business hours, etc..."

I intend on Freezing the account temporarily, per some advice I read, but if you guys have any other suggestions, fire away.

There goes at least one hour of my day today.

Ed
__________________

Mike Finley · 10-10-2008, 06:14 PM

Quote:

Originally Posted by Ed the Roofer

but if you guys have any other suggestions, fire away.

My suggestion is don't use a credit card in your business unless you are going to pay it off every month.

A business line of credit would be a lot better if you are carrying a balance. Even a HELOC would be better.

MALCO.New.York · 10-10-2008, 06:15 PM

Apply for another Card with another lender. MANY have a "0% Interest" for x amount of time on "Balance Transfers".

Just pay attention to the "Fees". Ask up front to avoid a hit later.

And I do agree...............Charge what you can pay for this Month ONLY! (crisis situations ARE different)

I basically DO NOT use cash for anything. I charge EVERYTHING, newspaper, meals, Alcohol, Metro Card (NY Transit), everything.Then pay it off EVERY Month. IN FULL. I have a Stellar Credit Rating because of this.

rbsremodeling · 10-10-2008, 06:23 PM

Quote:

Originally Posted by Ed the Roofer

Now I have to deal with Advanta and there unethical interest rate increaes.

Advanta is a fraud and a complete rip-off. Had you asked me one week ago, I would have stated that they always dealt fairly with me before for years.

They always treated me fair in the past, but my "Locked In" 7.99% rate just got bumped up to 30.08%

I will be making that phone call today, during business hours, because there was no one to answer the phones this evening.

"I'm sorry, you have called past out normal business hours, etc..."

I intend on Freezing the account temporarily, per some advice I read, but if you guys have any other suggestions, fire away.

There goes at least one hour of my day today.

Ed
__________________

To be honest Ed they probably did not do anything any other credit card would not do.

There is something in the fine print that probably allowed for the rate increase and it is a system automatic increase.

Stay calm and call them and be nice and they will probably reset the rate..

It happen to me with Capitol One and it was reset and fixed to 9.99% for life. Except if I break the rules in the fine print again.

You can also get a amex business blue card. Pay it off in full or if you need to you can revolve the balance as needed.

take a deep breath and count to ten

**Tinstaafl** · 10-10-2008, 07:46 PM

Quote:

Originally Posted by MALCO.New.York

Then pay it off EVERY Month. IN FULL. I have a Stellar Credit Rating because of this.

Yep. My young sons are finding out right now why you need to owe money to have a credit rating.

Ironically, the CC companies have a term to describe people like you: deadbeat.

**Ed the Roofer** · 10-10-2008, 07:54 PM

Don't worry guys, I don't get all pizzed off, even when chit like this happens.

The main thing is I wanted Google to index this post and pop up high on the search engines when someone is searching about Advanta, being a scam, rip off and fraud, per my opinion.

Yes, I did call them and they said they sent out a letter in August, to eithe "Opt Out" of the new terms or relinquish my supposedly Guaranteed 7.99 % fixed rate.

1. I spoke with "Shelley" from India. After finally convincing the girl from India to patch me through to a line in the United States, which she told me about 1-2 dozen times, that it couldn't be done, I finally got a supervisor, (Yeah Right...Thats what they all say they are), from a US office.

2. I spoke with Phyliss from the US. She was reading the same script from her screen with all of the same pat answers. Periodic credit check and added one about change in the Countrys Economy causing the increase in the rate. She said there was absolutely nothing that could be done about the rate increase. It took about 20 minutes of her telling me that there were no higher up managers or supervisors available, before she finally relented and got someone else to speak with me. She offered me a token decrease down to 26.00 %, which I declined. I informed her and insisted that she type in My Demands, that I opt out of accepting the increased per centage rate.

3. I spoke with Lana from that office. This time I know I spoke with the next level Supervisor. She repeated the same parroted phrases as the other women, which stated that I had 15 days from the receipt of the letter notifying me of changes to the terms and conditions, whether or not I would accept them, by doing nothing or by using the card after the 15 day period had elapsed, or "Opt Out" of the new conditions and terms, by responding within that 15 day time period.

I never got any such letter and I save them all Religiously.

She stuck by her story that there was ABSOLUTELY NOTHING SHE COULD DO, once again for about 15-20 minutes, regarding the rate. I mentioned to her, that I am involved in several very well known and followed Internet Forums, with a combined registered membership of over 100,000 members and that my sincerest efforts would be made with all available channels known to me, to put their name where it belongs, right in the mud.

I will be following up with the Federal Trade Commission and The Attorney Generals Office and the Better Business Bureau and Rip-Off Report, along with about 6-8 various forums with this message.

Wow!!! She immediately offered to freeze my account and I insisted that I get refuded/credited the overage charges of the excess $ 410.44 from this current months billing statement. She obliged my polite request.

Still, as a matter of proper business priciple, I wanted to speak with their Customer Retention and Reacquisition department, which they said there was none.

I wanted to make sense out of taking a customer who has Zero Late Payments on any bill, and who gets all 3 credit agency reports every month for verification, and who has been a high volume usage customer for over or around the past 5 years, why they would prefer to lose that person as a customer, especially after they relented and finally did bring the rate back down to the 7.99 % rate, but only due to me Opting Out of agreeing to the new terms with the higher 30.08 % rate.

4. So, I wound up requesting to speak with the Manager of the department. Notice a pattern here? All of a sudden, where supposedly No Supervisors or Managers were capable of being available, now I have spoken with 3 of them. Not by getting pizzed off and calling them names, but by acting professional and business-like and speaking with a respectful, but firm stance voice with expected results from my request.

Now, I speak with Tina. I just want to confirm that this is their preference, to finally acquiesce to m y reasonable request and demand that they re-apply the correctly agreed upon rate, but lose a customer out of the process, since for me to get back to the rate that I was "Guaranteed" for the life of the balance, I had to give up my rights to any further usage of this credit card account.

This was the shortest conversation of them all, but she did give me the Presidents name and PO Box Mailing address and fax number to follow up with.

So, John Moore, President of Advanta Credit Card, what do you have to say about the way a long term customer has been treated?

The Fax Number to his supposed office, which really is the Card Holder Agreement Fax Line, is: 1 (800) 352-4738

If anyone feels that an unmeritous and unreasonable rate increase should be vilified by a Fax Writing Message Campaign, please feel free to express your mutual outrage.

I will. And, I will again and again and again.

Thank you for reading this lengthy rant.

Ed

MALCO.New.York · 10-10-2008, 08:08 PM

Quote:

Originally Posted by Tinstaafl

Yep. My young sons are finding out right now why you need to owe money to have a credit rating.

Ironically, the CC companies have a term to describe people like you: deadbeat.

So true!!!!!

But........................

They STILL make a couplea points on the Front End by charging Merchants a small percentage for the service on EVERY sale.

I literally went from a FICO of 400 to 800+, in one and one-half years.

The funny things is this.

No Company would give me a CC for nuthin'! But I was at Hartsfield Airport awaiting a flight when I got bored and strolled the Concourse. Chase was giving away T-Shirts for the sake of filling out an application. I filled one out in the North Terminal, I filled one out in the South Terminal. 3weeks later I received a Credit Card with a limit of 5k. HOLY SHIIIIIT! (I had "less that stellar Credit" at that point!)

Since then I have MANY CC's. I only use 2 and ALWAYS pay my "tab" monthly in full!!!! Usually 18-25 Hundred.

**Ed the Roofer** · 10-10-2008, 08:13 PM

Terms and conditions: There are more, plus the inevitable loophole term that they can change terms and conditions at anytime they want, but that has to have some onus on them to rationaize why.

Ed

ADVANTA PLATINUM BUSINESS CARD TERMS AND CONDITIONS

SUMMARY OF IMPORTANT ADVANTA BUSINESS CARD TERMS AND CONDITIONS

Annual Percentage Rate (APR) for Balance Transfers and Purchases

Balance Transfers: 7.99%; however, an introductory 0% for the first fifteen billing cycles from the date your account is opened.

Purchases: Account Variable Rate Index (based on Prime) plus 2.99% (7.99% as of July 1, 2008).

Other APRsCash Advances: Account Variable Rate Index (based on Prime) plus 2.99% or Prime plus 14.99% (7.99% or 19.99% as of July 1, 2008).

Default: The higher of the account APR plus 3%, or Account Variable Rate Index (based on Prime) plus a Default Margin of 27.99%.

Grace Period for New Purchases
Yes, if the balances shown on both your previous and current statements are paid in full by their due dates.

Annual FeeNone.

Minimum Finance ChargeIf any finance charge is applicable: $1.

Transaction Fees for Cash Advances and Balance TransfersCash Advances, including Convenience Checks: 3% (minimum $5).

Balance Transfers: 3% (minimum $5; maximum $90 with this introductory offer).

Other FeesLate Payment Fee: $19 on balances under $250; otherwise $39. Overlimit Fee: $15 on balances under $501; $29 on balances between $501 and $1,001; otherwise $39. Returned Payment Fee: $35. Dishonored Convenience Check Fee: $35. Convenience Check Stop Payment Fee: $29. Balance Transfer Cancellation Fee: $29. Bank Wire Payment Fee: $15. Foreign Transaction Fee: 3%.

Advanta account rates can be fixed rates, or they can be variable rates consisting of your Account Variable Rate Index combined with margins. Your account rate for Balance Transfers will be a fixed 7.99% with an introductory 0% for the first fifteen billing cycles from the date your account is opened. To maintain the introductory rate for the full offer term, you must make all payments when due, you must not exceed your account credit limit, and you must not otherwise default on the account. Your account rate for Purchases will be your Account Variable Rate Index plus 2.99%. Your account rate for cash transactions will be your Account Variable Rate Index plus either 2.99% or 14.99%, based on our assessment of your credit history and creditworthiness. We allocate your payments and credits to pay account balances bearing lower interest rates, such as introductory and promotional rate balances, before balances bearing higher interest rates. This means that your savings may be reduced by having balances that are subject to standard rates. Finance charges on balance transfers and cash advances begin to accrue on the date we process the transaction. Your Variable Account Rate Index for any billing cycle will be chosen by us from among the Prime Rates published in The Wall Street Journal's "Money Rates" section during the three (3) months prior to the month which contains that cycle's Billing Cycle Closing Date, but will not be less than 5.00%. Any rate applicable to any component of your account, including any Default rate, will be applied throughout the entire billing cycle which contains the effective date of that rate, and will apply to previous balances as well as new transactions and charges.

Default rates may be imposed in the Event of Default, replace other rates, including promotional rates, and apply to both existing balances and new transactions and charges. Events of Default are listed in the Advanta Business Card Agreement and include, among other things, failing to make any required payment by its due date, exceeding your account credit limit, making a payment to us that is not honored by your bank, and being in default on any other account you have with us.

**Ed the Roofer** · 10-10-2008, 08:16 PM

Here are the terms and conditions stating that they can change the terms and conditions at any time at their discretion.

Ed

In accordance with applicable law and the terms of your Card Agreement, we may change any of your account terms, including rates and fees, at any time for any reason. This means that your account rates, including any promotional rates offered, are not guaranteed; all account rates may be increased, fixed rates may change to variable rates, and variable rates may change to fixed rates. Any applicable rate, including any Default rate, applies throughout the entire billing cycle which contains the effective date of that rate, to both existing balances and new transactions and charges.

Your Card Agreement also contains an arbitration provision, which replaces the right to have claims heard in court by a jury, and precludes participation in class actions.

**Ed the Roofer** · 10-10-2008, 08:25 PM

Address and phone number of advanta bank ceo dennis alter?

Dennis Alter Can Be Reached via:
Advanta Bank:

Advanta Corp. Headquarters
Welsh and McKean Roads
P.O. Box 844
Spring House, PA 19477-0844
Phone: 215-657-4000

Dennis Alter Can Be Reached via:
Advanta Bank:

Advanta Corp. Headquarters
Welsh and McKean Roads
P.O. Box 844
Spring House, PA 19477-0844
Phone: 215-657-4000

**joasis** · 10-10-2008, 08:34 PM

Wow...glad I am on a firm get out of debt plan. I use a debit card, and AmEx when we travel. No credit cards of any kind, I borrow from the bank if I must...at least we know their interest won't be jacked...

JamesNLA · 10-10-2008, 09:47 PM

Quote:

Originally Posted by joasis

Wow...glad I am on a firm get out of debt plan. I use a debit card, and AmEx when we travel. No credit cards of any kind, I borrow from the bank if I must...at least we know their interest won't be jacked...

That is how I do it. I get really mad when I get patched to India and have some stupid moron reading a script to me. Listening to them type in my question and reading a responce that only contains a few of the words in my question to them. I use a debit card, but only the card side of it so I can refuse BS charges. Can't do that with the debit side of it. That and my wife is really bad about spending money before she has it. I hate banking and CC companies. Although, AMEX was great to deal with. They are always (usually) on the card holder's side.

bert0168 · 10-10-2008, 10:01 PM

WOW. I just looked at my Advanta statement and my rate was jacked to 29.99% as well.

You bet your ass I will be calling them tomorrow.

Thanks for all the contact info

**Ed the Roofer** · 10-10-2008, 10:04 PM

Quote:

Originally Posted by Ed the Roofer

The main thing is I wanted Google to index this post and pop up high on the search engines when someone is searching about Advanta, being a scam, rip off and fraud, per my opinion.

Ed

Well, depending on which search words I used, including Advanta Credit Card Problems, Google has already noticed this thread.

Problems; Page 3 of Google

Scam and Fraud; Page 1 of Google, down at number 8 and 9

So, once again for pasterity, Advanta Credit Card is a Scam a decietful fraud and con artist begging to beget their good paying customers problems with Advanta Credit Cards. Advanta has really turned into a rip off artist in my opinion.

Ed

**Ed the Roofer** · 10-10-2008, 10:06 PM

Quote:

Originally Posted by bert0168

WOW. I just looked at my Advanta statement and my rate was jacked to 29.99% as well.

You bet your ass I will be calling them tomorrow.

Thanks for all the contact info

Read through my long post and what I had to do to finally get some satisfaction.

First, check all of your mail and see if they sent you a letter in August, as claimed.

You eventually will need to "Opt Out" of the new terms and conditions.

You can mention my name as where you found out about the fraudulent unethical behavior.

Gee.....We just decided to change a 7 % to a 30 % because we wanted to make more money.

Ed

**Ed the Roofer** · 10-10-2008, 10:22 PM

Here is some good reading material.

Ed

http://money.cnn.com/2008/09/26/news...ion=2008092612
Card companies jacking up rates

Blame the economy, and some proposed regs that would limit hikes going forward

by Mina Kimes, reporter
Last Updated: September 26, 2008: 12:12 PM ET

NEW YORK (Fortune) -- When John Dykstra got his September credit card bill from Advanta, a small-business card issuer, he was shocked: Dykstra says he has a good credit score and has never missed a payment, but his interest rate had jumped from 7.99% to 26%.

He was even more shocked by the explanation: A brochure in the mail told him he needed to be aware of the "continually changing business environment."

He's not alone. Card issuers from Bank of America to Capital One are using the economic crisis as a reason to raise rates. According to Consumer Action's 2008 survey of card companies, Bank of America, Citi, and Capital One have recently said that "market conditions" could cause them to increase APR's.

"It's becoming a more common practice," says Ben Woolsey, director of consumer research and marketing at creditcards.com, a comparison site for card offers. "It's a broad, nebulous provision."

Betty Riess, a spokesperson for Bank of America, says the bank's fine-print provision for "market conditions" doesn't refer to the economy at large, but notes that "the current situation might cause us to take a more aggressive look at accounts."

Credit card companies often boost rates for reasons other than delinquency; the so-called universal default provision lets them change terms at any time based on customers' usage of other lines of credit. But when the Fed asked lenders in its most recent quarterly survey why they would tighten standards, 98% of responders blamed a less favorable economic outlook.
"They're saying, the economy is getting bad, and our earnings are under pressure--so we can change your account," says Woolsey.

The survey revealed that 37% of banks have increased rates, compared to 24% in April and 10% in January. They may be raising rates to compensate for losses. Advanta saw an 83% decrease in earnings in its second quarter, due in large to provisions for credit charge-offs. Capital One's profits dropped 40% and American Express saw a 38% decrease. And while Bank of America's 41% dip in earnings beat estimates, the company incurred $2.75 billion in credit card losses 31% more than last year.

Cardholders revolt

The recent round of hikes is fomenting a cardholder revolt. Testimonies about opaque rate hikes are piling up on ripoffreports.com and consumeraffairs.com, and some 56,000 consumers posted comments on the Fed's website, responding to potential regulations that would limit issuers' abilities to raise rates record feedback for a Fed proposal.

Issued in May, the Fed's proposal would prohibit issuers from increasing rates on preexisting balances and severely limit their ability to bump rates in the first place. The proposition drew support from consumer groups and swift criticism from card companies, which said the rules would punish those with good credit.

A similar initiative, called the Credit Cardholders' Bill of Rights, was passed in the House on Tuesday. Many predict that the bill will languish in the Senate, but Linda Sherry, national priorities director for Consumer Action, says Tuesday's passage will likely push the Fed regulation along.
"It was the will of Congress, and the Fed can draw comfort from that," she says.

The timing has caused some analysts to ask if the recent slew of rate bumps isn't a response to the economic slowdown but rather a preemptive strike. "It's likely that the Fed will produce a resolution by the end of the year," says Michael Taiano, a financial services analyst at Sandler O'Neill. "The companies are trying to move in front of that."

Sherry agrees. "With the companies facing limits of being able to raise your rates, it would be surprising if they didn't increase them now," she says.

If reform is in the cards, consumers may see spikes in their statements from now until December whether or not "market conditions" change.

First Published: September 26, 2008: 11:22 AM ET

Remodel Bud · 10-10-2008, 10:26 PM

Quote:

Originally Posted by Mike Finley

My suggestion is don't use a credit card in your business unless you are going to pay it off every month.

A business line of credit would be a lot better if you are carrying a balance. Even a HELOC would be better.

WOW, is that true. Awesome advice. Line of Credit is solid advice & don't use a revolving credit card.

**Ed the Roofer** · 10-10-2008, 10:29 PM

Addresses to send your complaints to.

Read the rest of the stuff that I did not copy/paste at the bottom of the page at this link:

http://www.pbs.org/wgbh/pages/frontl...ore/where.html

Ed

If you're in credit card trouble, you're not alone. Credit card debt is at an all-time peak, with the average American household carrying a balance of roughly $7,500 - $8,000. Consumer complaints are running high, too. If you are trying to solve your debt problem, or feel your credit-card company has treated you unfairly, several reputable organizations may be able to help you.

» Before you take action, it's best to know the facts, and one of them is your credit rating.
Your credit rating, or FICO score, is a crucial piece of information that may determine, among other things, the interest rate your credit card company charges you. Yet many Americans don't even know how that number is computed, much less what their own score is. FICO scores are determined by many variables, but mainly reflect your financial history of paying off your cards and other loans and how much you currently owe. To learn more about the company that computes FICO scores, Fair Issac, as well as the national credit bureaus -- TransUnion, Experion, and Equifax -- check out our report "Credit Scores - What You Should Know About Your Own." You can also download the booklet "Understanding Your Credit Score" [pdf file] which is published by Fair Isaac on its Web site. [Note: This is a pdf file; Adobe Acrobat required.]

» Once you feel you're ready to file a complaint, you'll need to figure out which agency is best suited to helping you:
If you have a problem with your credit card, first try to resolve it directly with the store or the credit card company.
The Better Business Bureau can act as an intermediary to help resolve your dispute, and it's easy to file a complaint online. Complaints are handled by the local Better Business Bureau where the company is located, not where you live -- so be sure you know where your credit card company is headquartered.

If that doesn't work, you may want to file a complaint with your state's attorney general or banking agency. You may also file a complaint with the federal agency responsible for enforcing consumer credit laws for your credit card company. • Credit cards issued by state banks that are members of the Federal Reserve System:

Federal Reserve Board
Division of Consumer and Community Affairs
Mail Stop 801
Washington, DC 20551
(202) 452-3693

• Credit cards issued by banks with "national" in the name or "N.A." after the name:

Comptroller of the Currency
Office of the Ombudsman
Customer Assistance Unit
1301 McKinney Street, Suite 3450
Houston, TX 77010
(800) 613-6743 (toll-free)
www.occ.treas.gov

• Credit cards issued by state banks that are not members of the Federal Reserve System:

Federal Deposit Insurance Corporation
Consumer Response Center
2345 Grand Boulevard, Suite 100
Kansas City, MO 64108
(877) 275-3342 (toll-free)
www.fdic.gov

• Credit cards issued by federal savings and loan associations and federal savings banks:

Office of Thrift Supervision
Consumer Programs
1700 G Street, NW
Washington, DC 20552
(800) 842-6929 (toll-free)
www.ots.treas.gov

Warning Signs

Answering "yes" to just one of these questions could mean you need help:
• Do you take cash advances to pay daily living expenses?
• Pay important payments such as rent or mortgage late?
• Borrow from one lender to pay another?
• Sign up for other cards because I hit the limit on my current cards?
• Transfer balances to new accounts to avoid paying off debt?
Fix it yourself:
• You may be able to solve your debt problem simply by managing your money a little more carefully.
• Add up your debt to get a realistic picture of your financial situation.
• Stop charging. Put away your cards.
• Read your past few statements to see how you've been spending your money. Use the information to make a monthly budget and stick with it.
• Look for areas where you can cut back, spending, and use that money to reduce your debt. Eat out less. Cancel your cable. Take the bus. Avoid late fees by paying your bills on time.
(The above advice is from the American Bankers Association Education Foundation.)

• Credit cards associated with federal credit unions:

National Credit Union Administration
Office of External Affairs
1775 Duke Street
Alexandria, VA 22314-3428
(703) 518-6330
www.ncua.gov

• Credit cards issued by finance companies or stores, and matters related to auto dealers, mortgage companies, and credit bureaus:

Federal Trade Commission
Consumer Response Center
6th and Pennsylvania, NW
Washington, DC 20580
(877)-FTC-HELP (1-877-382-4357) (toll-free)
www.ftc.gov

Remodel Bud · 10-10-2008, 10:30 PM

.......

**Ed the Roofer** · 10-10-2008, 10:32 PM

Quote:

Originally Posted by Remodel Bud

Call and find out why they used the default rate. It may be a late payment or max limit. Don't panic yet
__________________

I did.

They stated it is the economy as being one of the factors.

Ed

10-10-2008, 06:09 PM	#1
Ed the Roofer View Profile Ed the Roofer Pro Send Message Follow Blogs (0) Threads (7,135) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: Roofing Contractor Join Date: Dec 2006 Location: NW Suburbs of Chicago Posts: 7,135	Advanta Credit Card Is A Ripoff And Fraud Now I have to deal with Advanta and there unethical interest rate increaes. Advanta is a fraud and a complete rip-off. Had you asked me one week ago, I would have stated that they always dealt fairly with me before for years. They always treated me fair in the past, but my "Locked In" 7.99% rate just got bumped up to 30.08% I will be making that phone call today, during business hours, because there was no one to answer the phones this evening. "I'm sorry, you have called past out normal business hours, etc..." I intend on Freezing the account temporarily, per some advice I read, but if you guys have any other suggestions, fire away. There goes at least one hour of my day today. Ed __________________ __________________ Please Stay Tuned For A Very Important Message From Our Sponsor http://www.rightwayroofingcompany.com/ www.rightwayroofingcompany.com Roof Estimates, Roof Repairs, Roofers, Roof Leak Help, Elgin, Carpentersville, East Dundee, West Dundee, Sleepy Hollow, Algonquin, South Elgin, Huntley, Lake In The Hills, Illinois

10-10-2008, 06:15 PM	#3
MALCO.New.York View Profile MALCO.New.York Handle It! Send Message Follow Blogs (0) Threads (9,384) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Handle It! Trade: Everything The Union Guys Do Not Want To Do Join Date: Feb 2008 Location: Brooklyn, NY ~ Haverford, PA Posts: 9,384	Re: Advanta Credit Card Is A Ripoff And Fraud Apply for another Card with another lender. MANY have a "0% Interest" for x amount of time on "Balance Transfers". Just pay attention to the "Fees". Ask up front to avoid a hit later. And I do agree...............Charge what you can pay for this Month ONLY! (crisis situations ARE different) I basically DO NOT use cash for anything. I charge EVERYTHING, newspaper, meals, Alcohol, Metro Card (NY Transit), everything.Then pay it off EVERY Month. IN FULL. I have a Stellar Credit Rating because of this. __________________ Something to One may be Nothing to another! Ultimate Wisdom--------- http://www.youtube.com/watch?v=OW-cnizLDEE Last edited by MALCO.New.York; 10-10-2008 at 06:18 PM.

10-10-2008, 07:54 PM	#6
Ed the Roofer View Profile Ed the Roofer Pro Send Message Follow Blogs (0) Threads (7,135) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: Roofing Contractor Join Date: Dec 2006 Location: NW Suburbs of Chicago Posts: 7,135	Re: Advanta Credit Card Is A Ripoff And Fraud Don't worry guys, I don't get all pizzed off, even when chit like this happens. The main thing is I wanted Google to index this post and pop up high on the search engines when someone is searching about Advanta, being a scam, rip off and fraud, per my opinion. Yes, I did call them and they said they sent out a letter in August, to eithe "Opt Out" of the new terms or relinquish my supposedly Guaranteed 7.99 % fixed rate. 1. I spoke with "Shelley" from India. After finally convincing the girl from India to patch me through to a line in the United States, which she told me about 1-2 dozen times, that it couldn't be done, I finally got a supervisor, (Yeah Right...Thats what they all say they are), from a US office. 2. I spoke with Phyliss from the US. She was reading the same script from her screen with all of the same pat answers. Periodic credit check and added one about change in the Countrys Economy causing the increase in the rate. She said there was absolutely nothing that could be done about the rate increase. It took about 20 minutes of her telling me that there were no higher up managers or supervisors available, before she finally relented and got someone else to speak with me. She offered me a token decrease down to 26.00 %, which I declined. I informed her and insisted that she type in My Demands, that I opt out of accepting the increased per centage rate. 3. I spoke with Lana from that office. This time I know I spoke with the next level Supervisor. She repeated the same parroted phrases as the other women, which stated that I had 15 days from the receipt of the letter notifying me of changes to the terms and conditions, whether or not I would accept them, by doing nothing or by using the card after the 15 day period had elapsed, or "Opt Out" of the new conditions and terms, by responding within that 15 day time period. I never got any such letter and I save them all Religiously. She stuck by her story that there was ABSOLUTELY NOTHING SHE COULD DO, once again for about 15-20 minutes, regarding the rate. I mentioned to her, that I am involved in several very well known and followed Internet Forums, with a combined registered membership of over 100,000 members and that my sincerest efforts would be made with all available channels known to me, to put their name where it belongs, right in the mud. I will be following up with the Federal Trade Commission and The Attorney Generals Office and the Better Business Bureau and Rip-Off Report, along with about 6-8 various forums with this message. Wow!!! She immediately offered to freeze my account and I insisted that I get refuded/credited the overage charges of the excess $ 410.44 from this current months billing statement. She obliged my polite request. Still, as a matter of proper business priciple, I wanted to speak with their Customer Retention and Reacquisition department, which they said there was none. I wanted to make sense out of taking a customer who has Zero Late Payments on any bill, and who gets all 3 credit agency reports every month for verification, and who has been a high volume usage customer for over or around the past 5 years, why they would prefer to lose that person as a customer, especially after they relented and finally did bring the rate back down to the 7.99 % rate, but only due to me Opting Out of agreeing to the new terms with the higher 30.08 % rate. 4. So, I wound up requesting to speak with the Manager of the department. Notice a pattern here? All of a sudden, where supposedly No Supervisors or Managers were capable of being available, now I have spoken with 3 of them. Not by getting pizzed off and calling them names, but by acting professional and business-like and speaking with a respectful, but firm stance voice with expected results from my request. Now, I speak with Tina. I just want to confirm that this is their preference, to finally acquiesce to m y reasonable request and demand that they re-apply the correctly agreed upon rate, but lose a customer out of the process, since for me to get back to the rate that I was "Guaranteed" for the life of the balance, I had to give up my rights to any further usage of this credit card account. This was the shortest conversation of them all, but she did give me the Presidents name and PO Box Mailing address and fax number to follow up with. So, John Moore, President of Advanta Credit Card, what do you have to say about the way a long term customer has been treated? The Fax Number to his supposed office, which really is the Card Holder Agreement Fax Line, is: 1 (800) 352-4738 If anyone feels that an unmeritous and unreasonable rate increase should be vilified by a Fax Writing Message Campaign, please feel free to express your mutual outrage. I will. And, I will again and again and again. Thank you for reading this lengthy rant. Ed __________________ Please Stay Tuned For A Very Important Message From Our Sponsor http://www.rightwayroofingcompany.com/ www.rightwayroofingcompany.com Roof Estimates, Roof Repairs, Roofers, Roof Leak Help, Elgin, Carpentersville, East Dundee, West Dundee, Sleepy Hollow, Algonquin, South Elgin, Huntley, Lake In The Hills, Illinois

10-10-2008, 08:13 PM	#8
Ed the Roofer View Profile Ed the Roofer Pro Send Message Follow Blogs (0) Threads (7,135) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: Roofing Contractor Join Date: Dec 2006 Location: NW Suburbs of Chicago Posts: 7,135	Re: Advanta Credit Card Is A Ripoff And Fraud Terms and conditions: There are more, plus the inevitable loophole term that they can change terms and conditions at anytime they want, but that has to have some onus on them to rationaize why. Ed ADVANTA PLATINUM BUSINESS CARD TERMS AND CONDITIONS SUMMARY OF IMPORTANT ADVANTA BUSINESS CARD TERMS AND CONDITIONS Annual Percentage Rate (APR) for Balance Transfers and Purchases Balance Transfers: 7.99%; however, an introductory 0% for the first fifteen billing cycles from the date your account is opened. Purchases: Account Variable Rate Index (based on Prime) plus 2.99% (7.99% as of July 1, 2008). Other APRsCash Advances: Account Variable Rate Index (based on Prime) plus 2.99% or Prime plus 14.99% (7.99% or 19.99% as of July 1, 2008). Default: The higher of the account APR plus 3%, or Account Variable Rate Index (based on Prime) plus a Default Margin of 27.99%.Grace Period for New Purchases Yes, if the balances shown on both your previous and current statements are paid in full by their due dates. Annual FeeNone. Minimum Finance ChargeIf any finance charge is applicable: $1. Transaction Fees for Cash Advances and Balance TransfersCash Advances, including Convenience Checks: 3% (minimum $5). Balance Transfers: 3% (minimum $5; maximum $90 with this introductory offer). Other FeesLate Payment Fee: $19 on balances under $250; otherwise $39. Overlimit Fee: $15 on balances under $501; $29 on balances between $501 and $1,001; otherwise $39. Returned Payment Fee: $35. Dishonored Convenience Check Fee: $35. Convenience Check Stop Payment Fee: $29. Balance Transfer Cancellation Fee: $29. Bank Wire Payment Fee: $15. Foreign Transaction Fee: 3%. Advanta account rates can be fixed rates, or they can be variable rates consisting of your Account Variable Rate Index combined with margins. Your account rate for Balance Transfers will be a fixed 7.99% with an introductory 0% for the first fifteen billing cycles from the date your account is opened. To maintain the introductory rate for the full offer term, you must make all payments when due, you must not exceed your account credit limit, and you must not otherwise default on the account. Your account rate for Purchases will be your Account Variable Rate Index plus 2.99%. Your account rate for cash transactions will be your Account Variable Rate Index plus either 2.99% or 14.99%, based on our assessment of your credit history and creditworthiness. We allocate your payments and credits to pay account balances bearing lower interest rates, such as introductory and promotional rate balances, before balances bearing higher interest rates. This means that your savings may be reduced by having balances that are subject to standard rates. Finance charges on balance transfers and cash advances begin to accrue on the date we process the transaction. Your Variable Account Rate Index for any billing cycle will be chosen by us from among the Prime Rates published in The Wall Street Journal's "Money Rates" section during the three (3) months prior to the month which contains that cycle's Billing Cycle Closing Date, but will not be less than 5.00%. Any rate applicable to any component of your account, including any Default rate, will be applied throughout the entire billing cycle which contains the effective date of that rate, and will apply to previous balances as well as new transactions and charges. Default rates may be imposed in the Event of Default, replace other rates, including promotional rates, and apply to both existing balances and new transactions and charges. Events of Default are listed in the Advanta Business Card Agreement and include, among other things, failing to make any required payment by its due date, exceeding your account credit limit, making a payment to us that is not honored by your bank, and being in default on any other account you have with us. __________________ Please Stay Tuned For A Very Important Message From Our Sponsor http://www.rightwayroofingcompany.com/ www.rightwayroofingcompany.com Roof Estimates, Roof Repairs, Roofers, Roof Leak Help, Elgin, Carpentersville, East Dundee, West Dundee, Sleepy Hollow, Algonquin, South Elgin, Huntley, Lake In The Hills, Illinois Last edited by Ed the Roofer; 10-10-2008 at 08:21 PM.

10-10-2008, 08:16 PM	#9
Ed the Roofer View Profile Ed the Roofer Pro Send Message Follow Blogs (0) Threads (7,135) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: Roofing Contractor Join Date: Dec 2006 Location: NW Suburbs of Chicago Posts: 7,135	Re: Advanta Credit Card Is A Ripoff And Fraud Here are the terms and conditions stating that they can change the terms and conditions at any time at their discretion. Ed In accordance with applicable law and the terms of your Card Agreement, we may change any of your account terms, including rates and fees, at any time for any reason. This means that your account rates, including any promotional rates offered, are not guaranteed; all account rates may be increased, fixed rates may change to variable rates, and variable rates may change to fixed rates. Any applicable rate, including any Default rate, applies throughout the entire billing cycle which contains the effective date of that rate, to both existing balances and new transactions and charges. Your Card Agreement also contains an arbitration provision, which replaces the right to have claims heard in court by a jury, and precludes participation in class actions. __________________ Please Stay Tuned For A Very Important Message From Our Sponsor http://www.rightwayroofingcompany.com/ www.rightwayroofingcompany.com Roof Estimates, Roof Repairs, Roofers, Roof Leak Help, Elgin, Carpentersville, East Dundee, West Dundee, Sleepy Hollow, Algonquin, South Elgin, Huntley, Lake In The Hills, Illinois

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10-10-2008, 08:25 PM	#10
Ed the Roofer View Profile Ed the Roofer Pro Send Message Follow Blogs (0) Threads (7,135) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: Roofing Contractor Join Date: Dec 2006 Location: NW Suburbs of Chicago Posts: 7,135	Re: Advanta Credit Card Is A Ripoff And Fraud Address and phone number of advanta bank ceo dennis alter? Dennis Alter Can Be Reached via: Advanta Bank: Advanta Corp. Headquarters Welsh and McKean Roads P.O. Box 844 Spring House, PA 19477-0844 Phone: 215-657-4000 Dennis Alter Can Be Reached via: Advanta Bank: Advanta Corp. Headquarters Welsh and McKean Roads P.O. Box 844 Spring House, PA 19477-0844 Phone: 215-657-4000 __________________ Please Stay Tuned For A Very Important Message From Our Sponsor http://www.rightwayroofingcompany.com/ www.rightwayroofingcompany.com Roof Estimates, Roof Repairs, Roofers, Roof Leak Help, Elgin, Carpentersville, East Dundee, West Dundee, Sleepy Hollow, Algonquin, South Elgin, Huntley, Lake In The Hills, Illinois

10-10-2008, 08:34 PM	#11
joasis View Profile joasis Pro Send Message Follow Blogs (0) Threads (6,057) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: General Contractor Join Date: Mar 2006 Location: Hennessey, Oklahoma Posts: 6,057	Re: Advanta Credit Card Is A Ripoff And Fraud Wow...glad I am on a firm get out of debt plan. I use a debit card, and AmEx when we travel. No credit cards of any kind, I borrow from the bank if I must...at least we know their interest won't be jacked... __________________ Ladwig Construction Hennessey, Oklahoma 405 853 1563 Ladwig Insulation & Construction Services Serving Oklahoma Statewide

10-10-2008, 10:01 PM	#13
bert0168 View Profile bert0168 Money Changer Send Message Follow Blogs (0) Threads (804) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Money Changer Trade: Residential Remodeling Join Date: Jan 2008 Location: Bucks County, PA Posts: 804	Re: Advanta Credit Card Is A Ripoff And Fraud WOW. I just looked at my Advanta statement and my rate was jacked to 29.99% as well. You bet your ass I will be calling them tomorrow. Thanks for all the contact info

10-10-2008, 10:22 PM	#16
Ed the Roofer View Profile Ed the Roofer Pro Send Message Follow Blogs (0) Threads (7,135) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: Roofing Contractor Join Date: Dec 2006 Location: NW Suburbs of Chicago Posts: 7,135	Re: Advanta Credit Card Is A Ripoff And Fraud Here is some good reading material. Ed http://money.cnn.com/2008/09/26/news...ion=2008092612 Card companies jacking up rates Blame the economy, and some proposed regs that would limit hikes going forward by Mina Kimes, reporter Last Updated: September 26, 2008: 12:12 PM ET NEW YORK (Fortune) -- When John Dykstra got his September credit card bill from Advanta, a small-business card issuer, he was shocked: Dykstra says he has a good credit score and has never missed a payment, but his interest rate had jumped from 7.99% to 26%. He was even more shocked by the explanation: A brochure in the mail told him he needed to be aware of the "continually changing business environment." He's not alone. Card issuers from Bank of America to Capital One are using the economic crisis as a reason to raise rates. According to Consumer Action's 2008 survey of card companies, Bank of America, Citi, and Capital One have recently said that "market conditions" could cause them to increase APR's. "It's becoming a more common practice," says Ben Woolsey, director of consumer research and marketing at creditcards.com, a comparison site for card offers. "It's a broad, nebulous provision." Betty Riess, a spokesperson for Bank of America, says the bank's fine-print provision for "market conditions" doesn't refer to the economy at large, but notes that "the current situation might cause us to take a more aggressive look at accounts." Credit card companies often boost rates for reasons other than delinquency; the so-called universal default provision lets them change terms at any time based on customers' usage of other lines of credit. But when the Fed asked lenders in its most recent quarterly survey why they would tighten standards, 98% of responders blamed a less favorable economic outlook. "They're saying, the economy is getting bad, and our earnings are under pressure--so we can change your account," says Woolsey. The survey revealed that 37% of banks have increased rates, compared to 24% in April and 10% in January. They may be raising rates to compensate for losses. Advanta saw an 83% decrease in earnings in its second quarter, due in large to provisions for credit charge-offs. Capital One's profits dropped 40% and American Express saw a 38% decrease. And while Bank of America's 41% dip in earnings beat estimates, the company incurred $2.75 billion in credit card losses 31% more than last year. Cardholders revolt The recent round of hikes is fomenting a cardholder revolt. Testimonies about opaque rate hikes are piling up on ripoffreports.com and consumeraffairs.com, and some 56,000 consumers posted comments on the Fed's website, responding to potential regulations that would limit issuers' abilities to raise rates record feedback for a Fed proposal. Issued in May, the Fed's proposal would prohibit issuers from increasing rates on preexisting balances and severely limit their ability to bump rates in the first place. The proposition drew support from consumer groups and swift criticism from card companies, which said the rules would punish those with good credit. A similar initiative, called the Credit Cardholders' Bill of Rights, was passed in the House on Tuesday. Many predict that the bill will languish in the Senate, but Linda Sherry, national priorities director for Consumer Action, says Tuesday's passage will likely push the Fed regulation along. "It was the will of Congress, and the Fed can draw comfort from that," she says. The timing has caused some analysts to ask if the recent slew of rate bumps isn't a response to the economic slowdown but rather a preemptive strike. "It's likely that the Fed will produce a resolution by the end of the year," says Michael Taiano, a financial services analyst at Sandler O'Neill. "The companies are trying to move in front of that." Sherry agrees. "With the companies facing limits of being able to raise your rates, it would be surprising if they didn't increase them now," she says. If reform is in the cards, consumers may see spikes in their statements from now until December whether or not "market conditions" change. First Published: September 26, 2008: 11:22 AM ET __________________ Please Stay Tuned For A Very Important Message From Our Sponsor http://www.rightwayroofingcompany.com/ www.rightwayroofingcompany.com Roof Estimates, Roof Repairs, Roofers, Roof Leak Help, Elgin, Carpentersville, East Dundee, West Dundee, Sleepy Hollow, Algonquin, South Elgin, Huntley, Lake In The Hills, Illinois

10-10-2008, 10:29 PM	#18
Ed the Roofer View Profile Ed the Roofer Pro Send Message Follow Blogs (0) Threads (7,135) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: Roofing Contractor Join Date: Dec 2006 Location: NW Suburbs of Chicago Posts: 7,135	Re: Advanta Credit Card Is A Ripoff And Fraud Addresses to send your complaints to. Read the rest of the stuff that I did not copy/paste at the bottom of the page at this link: http://www.pbs.org/wgbh/pages/frontl...ore/where.html Ed If you're in credit card trouble, you're not alone. Credit card debt is at an all-time peak, with the average American household carrying a balance of roughly $7,500 - $8,000. Consumer complaints are running high, too. If you are trying to solve your debt problem, or feel your credit-card company has treated you unfairly, several reputable organizations may be able to help you. » Before you take action, it's best to know the facts, and one of them is your credit rating. Your credit rating, or FICO score, is a crucial piece of information that may determine, among other things, the interest rate your credit card company charges you. Yet many Americans don't even know how that number is computed, much less what their own score is. FICO scores are determined by many variables, but mainly reflect your financial history of paying off your cards and other loans and how much you currently owe. To learn more about the company that computes FICO scores, Fair Issac, as well as the national credit bureaus -- TransUnion, Experion, and Equifax -- check out our report "Credit Scores - What You Should Know About Your Own." You can also download the booklet "Understanding Your Credit Score" [pdf file] which is published by Fair Isaac on its Web site. [Note: This is a pdf file; Adobe Acrobat required.] » Once you feel you're ready to file a complaint, you'll need to figure out which agency is best suited to helping you: If you have a problem with your credit card, first try to resolve it directly with the store or the credit card company. The Better Business Bureau can act as an intermediary to help resolve your dispute, and it's easy to file a complaint online. Complaints are handled by the local Better Business Bureau where the company is located, not where you live -- so be sure you know where your credit card company is headquartered. If that doesn't work, you may want to file a complaint with your state's attorney general or banking agency. You may also file a complaint with the federal agency responsible for enforcing consumer credit laws for your credit card company. • Credit cards issued by state banks that are members of the Federal Reserve System: Federal Reserve Board Division of Consumer and Community Affairs Mail Stop 801 Washington, DC 20551 (202) 452-3693 • Credit cards issued by banks with "national" in the name or "N.A." after the name: Comptroller of the Currency Office of the Ombudsman Customer Assistance Unit 1301 McKinney Street, Suite 3450 Houston, TX 77010 (800) 613-6743 (toll-free) www.occ.treas.gov • Credit cards issued by state banks that are not members of the Federal Reserve System: Federal Deposit Insurance Corporation Consumer Response Center 2345 Grand Boulevard, Suite 100 Kansas City, MO 64108 (877) 275-3342 (toll-free) www.fdic.gov • Credit cards issued by federal savings and loan associations and federal savings banks: Office of Thrift Supervision Consumer Programs 1700 G Street, NW Washington, DC 20552 (800) 842-6929 (toll-free) www.ots.treas.gov Warning Signs Answering "yes" to just one of these questions could mean you need help: • Do you take cash advances to pay daily living expenses? • Pay important payments such as rent or mortgage late? • Borrow from one lender to pay another? • Sign up for other cards because I hit the limit on my current cards? • Transfer balances to new accounts to avoid paying off debt? Fix it yourself: • You may be able to solve your debt problem simply by managing your money a little more carefully. • Add up your debt to get a realistic picture of your financial situation. • Stop charging. Put away your cards. • Read your past few statements to see how you've been spending your money. Use the information to make a monthly budget and stick with it. • Look for areas where you can cut back, spending, and use that money to reduce your debt. Eat out less. Cancel your cable. Take the bus. Avoid late fees by paying your bills on time. (The above advice is from the American Bankers Association Education Foundation.) • Credit cards associated with federal credit unions: National Credit Union Administration Office of External Affairs 1775 Duke Street Alexandria, VA 22314-3428 (703) 518-6330 www.ncua.gov • Credit cards issued by finance companies or stores, and matters related to auto dealers, mortgage companies, and credit bureaus: Federal Trade Commission Consumer Response Center 6th and Pennsylvania, NW Washington, DC 20580 (877)-FTC-HELP (1-877-382-4357) (toll-free) www.ftc.gov __________________ Please Stay Tuned For A Very Important Message From Our Sponsor http://www.rightwayroofingcompany.com/ www.rightwayroofingcompany.com Roof Estimates, Roof Repairs, Roofers, Roof Leak Help, Elgin, Carpentersville, East Dundee, West Dundee, Sleepy Hollow, Algonquin, South Elgin, Huntley, Lake In The Hills, Illinois

10-10-2008, 10:30 PM	#19
Remodel Bud View Profile Remodel Bud Pro Send Message Follow Blogs (0) Threads (407) Photos (0) Reviews (0) Projects (0) Toolbox (0) View All Activity Pro Trade: Remodeling & home improvements Join Date: Aug 2008 Posts: 407	Re: Advanta Credit Card Is A Ripoff And Fraud ....... Last edited by Remodel Bud; 10-11-2008 at 02:34 PM.

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