Okay, I just got off the phone with them. The CSR couldn't tell me why the rate was raised on my account and that he couldn't transfer me to anyone that could give me an explaination. He offered to close the account 3 times in our conversation. I asked him whether I was being penalized (I was wondering if he would say that everyone's rates are going up) even though I've been good with my account. He told me that I was being penalized for something, but he didn't know what because the account looks good to him -- frequent usage of card and high payments. He said "it's a business decision, and no one here at Providian will be able to tell you why we're raising your APR." End of conversation: "Have I answered all your questions?" "No, but apparently you can't" "My goal is customer satisfaction. Have I answered all your questions?" "You're got going to get me to say yes, so we're going to be here for a while." "Uh, goodbye" I just wish I didn't need this tradeline, but I'm stuck. ellen
I don't have a Getsmart card but I have two Providians...a MC and a Visa. However, I just got my bill today today, and my APR is still 16.9. I have been carrying a balance for about 7 months now.
Remember, Providian will be selling many, if not all, of their 29.9% accounts to CompuCredit to become Aspire accounts. And Aspire Visa has an APR of about 35%! Tim
I received the same letter today from my get smart card (HA!) has anyone received this letter from a regular providian card? It went from 16.9 to 29.9....
I got the letter today. And just two weeks ago I called them to close the account and because of my "WONDERFUL CREDIT HISTORY" to keep me, they refunded me the $89 fee and lowered the APR to 16.9%. Now they send a letter saying "My bad!". Now, because of the fee refund, I have a CREDIT of $85 on my account. Can I cash advance say, $80 of it without fees or worry? Then close the sorry thing?
They sent me a letter last week following my PFB from three weeks ago, and LOWERED my rate from 29.9% to 16.9% AND gave me a credit line increase. And I feel embarrassed because I seem to have horrendous credit, much worse that everyone else here. I do not understand what their determining factor is, I do not have a Getsmart, I have the Gold VISA.....
I have the 16.99, bad scores.. and they do not seem to be raising my APR... I do not think it is based on poor credit, I think they may be trying to dump an entire segment of people that have other 'better' credit cards perhaps, keeping the people that do not have as many options? This is speculation.
I thought I was lucky until I got the letter yesterday jacking my classic getsmart to 29.9%. I have never been late, charged a lot and paid it all off. I will keep this card but use it only for something that I will pay off ASAP. I liked Providian until now. The only good news is that it does not hit until December, 2002. Boomer
I got a letter today and after reading this, I fully expected it to say they were jacking my GetSmart APR to 29.9, but it didn't. It was just some terms clarification BS saying that they wanted to clarify that late fees, overlimit fees, etc. would be added to acct balance if imposed and not to the pmt due. Maybe I am lucky? Has anyone else received this version of the letter? I never carry a balance, always pay in full and always have. They haven't gotten $0.01 of interest from me since acct opened in 5/01.
I got the letter yesterday too....I'm pretty sure my rate right now is 12.99 (tho' it could be as much as 16.99--I'm not real sure)... One thing I am sure of....they are way out of their collective plastic minds (my letter even had an Aria logo at the bottom)... There could be some truth to what radiohead said...all my other cards are prime (Discover Plat, MBNA, Chase, BofA, 2 Citis, American Express)...I don't know if they've done a soft inquiry on me lately or not...but if they want to get rid of me and my $400 balance, they could not have selected a better method other than to call me directly on the phone and say "hello? Mr. Hill? Just thought we'd call and let you know we REALLY don't want to do business with you....could you close your account please?". I'm done with 'em....just like Cap One...once subprime....always subprime... And if they honestly think this will save them from bankruptcy (by hanging on to subprime customers, keeping low limits and high rates)---naaah, I would imagine the majority of those accounts will eventually A) payout, B) charge off, and C) not be replaced with anything any better. Just my opinion--as usual. David
I really think thinning their customer base is what they are trying to do. I mean, come on! 29.9?? They were SO nice to me last week when I threatened to close my account - dropping phrases like "Excellent customer" "great credit", "What can we do to keep you", etc. Then I get the letter, I call to find out WTF, and I get the same script reading everyone else has -"This was a corporate business decision" Out of all the subprime cards I ever had, I NEVER had one at 29.9%! Luckily, they did take away my yearly fee too, and it's paid off. I might just keep the dang thing for the credit ratio assistance. And yes, when I called, they asked SEVERAL times if I wanted to just close my account. What kind of customer service is that??? I feel really sorry for those CSR's. They will probably be laid off in the near future.
Hubby and I got ours the other day too. We do carry a small balance on them but will be paying them both off in May. Ours won't be a year old until Sept. Anyone having any luck still with the Annual Fee waiver since this unsurprising news? Do you think I have a chance and should try calling NOW (or PF) rather than waiting until it actually hits? I feel like you all also, I know my bk is only a year old, but 30% really sucks. They do really want you to close them I think. It's definitely outrageous enough. Newstdt
I got my Providian gold visa statement in the mail today. The rate I have on the account is 16.9% When I saw the "Notice of changes" insert I was worried for a moment, but all of the changes have nothing to do with APR -- they're just fee changes. No late fee for balances under $200 but a $35 late fee for balances $200 or more. No overlimit fee unless the account is 2% or more overlimit and a $20 returned payment fee. I can live with all of those terms.
