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Advanta Bank is a Rip OffNOT the Credit Card for Your Business This is the chronicle of my personal experience with Advanta Bank the supposed bank for small businesses. They conduct predatory lending practices by offering teaser rates for credit cards and raising the rates even if you are a good standing customer. Even though we were an excellent customer, paid on time and have outstanding credit scores, I received a notice they were raising my interest rate to 35% unless I responded and refuse it. So, I sent my refusal by certified mail and it was delivered and signed for well before the rate increase was due. Well, they increased it any way. I've moved my balances and closed the card but you would think they would realize they could make more money from me had they not increased the interest and I left a balance over a longer period of time. Instead, they decided the were going to try and bend me over a desk and not even say thank you when they were done with me. I guess their President needs to go back to school and take a refresher course in Business 101. Fortunately for me, I was able to move balances but for some small business owners, that may not be the case and they get stuck paying and paying with the balance never going down. If you are looking for a credit card for you small business, DO NOT EVEN CONSIDER USING ADVANTA BANK NO MATTER HOW TEMPTING THAT TEASTER RATE IS!!!! There are many others who have had the same experience as I have. Here are just a few of them: http://www.ripoffreport.com/reports/0/353/RipOff0353302.htm http://advanta-bank.pissedconsumer.com/advanta-bank-corp-credit-card-fraud-20080509120362.html http://www.complaintsboard.com/complaints/rip-off-c83478.html
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