Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2009
Interest-rate repricing and customer complaints
Advanta raised rates on many card accounts, in some cases from single-digit levels to above 30 percent. The repricing, account closures, and later complaints about cash-back treatment and legacy-account servicing became prominent issues during the company’s collapse.
2009
Investor and customer litigation concerns
Reports described preparations for a proposed investor class action and later complaints to federal and state consumer-protection authorities concerning Advanta’s card practices and account handling.