Well, I did it. I closed out my second account with them today and here's the situation... One card has a balance of around $1,200 and one has a balance of about $2,200. I had intended to pay off both of these accounts this week, BUT now I'm thinking that I should pay down Citi and Cap One significantly and then maybe (possibly as it may not be the best thing to do) BT to those cards instead. I figure my utilization is screwed either way so it doesn't really matter which way I go so I'd rather keep my open account servicers happy. After I had called to close the second Providian account today, I came home to get a letter from them that *they* were transferring my account and that they were then going to close the account effective October 9. I wonder if this was their response to my PFB? I have never had a late payment and always pay well over the minimum. They said it was based on my TU report, although I don't have anything negative on any of my reports...just high utilization. Doesn't make sense at all to me, but at any rate...there you have it. I will never again have anything to do with Providian. Advise would be appreciated. L
From all the GARBAGE going on with PROVIDIAN...YOUR BETTER OFF WITH-OUT THEM... PAY IT IN FULL A.S.A.P. BY CHECK OR BT...MAKE IT BE GONE!!!
LOOKS LIKE PROVIDIAN WILL GO OUT OF THE CREDIT CARD BUSINESS VERY SOON... Scare ALL your customers away...sell the accounts or "JACK" the interest rate!!!
I agree...keep your open account servicers happy, work on your internal scoring with companies that appreciate your business. Pay Providian what you need to not to be swamped with interest charges, but there is no benefit to paying them off now. At least you closed the account yourself today so that the notation will be closed by consumer rather than credit grantor. Personally I think congratulations are in order! Congratulations! DemPooches
planetfeedback.com = PFB Great site for contacting businesses with complaints and compliments. Generally gets the info straight to the Exec Offices. DemPooches
Whyspers, You mean that after you received the rate hike letter, you PFB'd providian and their response was to close your account? I recieved the rate hike letter and PFB'd them today. I don't have any other cc's to move my balance to (whine)! I hope they don't close my account before I do. Maybe I should do just that tommorrow. I will never do business with providian again. I will speak out passionately against providian!
No, I received the rate hike letter a couple of months ago and PFB'd them. Got a response by letter...the form letter that it was a business decision yada, yada, yada. Then last week I PFB'd them again (I believe I posted it here) and apparently their response was to close my account. They told me if I received a card from the agency they transferred it to...presumably a different credit card company, I was not to use the card because it would not be valid.) I also received the rate hike on my second card with them last week and immediately closed that account. I truly believe that they will eventually close accounts that aren't "Amex worthy". My scores aren't the highest in the world, but they are all high 600's and no negatives. Funny...when I got the cards my scores ranged from 490 to 565 and now with perfect credit, they do the rate hike and close my account. I truly don't get it. I've tried to get it and look at it from a business perspective, but even then, I just don't get it. I'm angry right now, but as DemPooches said, maybe this is a good thing. I've got much better cards, credit lines and apr's with others...and maybe my CR will look better without Providian on there. Thanks for the new perspective, DemPooches and thanks to all for your responses. I've decided to pay off some of my smaller balances and pay a large portion of Citi and Cap One and pay the minimum plus finance charges on Providian until they are paid off. I would say what they can go do, but my husband would wash my mouth out with soap. L
I remember when I closed my providian accounts and it reported to the CRA's as closed by consumer, I got a big score boost. That's when it dawned on me, maybe FICO has a way of figuring out subprime lenders and prime lenders by a certain code.
Kel, were you carrying a balance when you closed them? I think that is what will hurt me...that and the fact that I will have even higher utilization if that balance is figured into my u/l ratios. Ah well...boo them. L
My mother got a letter last week saying that her account was bought by Chase. They sent her a Chase card and statement reflecting her balance and charges on her Providian. I didn't beleive her until I saw the letter myself. "Congratulations, Your Providian Account has been Transferred to a Chase Platinum account!" Has anyone else had their account bought by Chase?
Technically I wasn't carrying a balance, but they had my last balance reported as my CURRENT balance to the CRA's. I *think* it was something like $250 our of $1100CL.
Did you get the score boost because you paid off these cards when you closed them or just because you closed them?
Congratulations Whyspers! Amazing how we are seeing a VOLUME TREND of compaints against Providian - AGAIN! I went through crap with them the first time around! Later - Dogman
I have two Providian cards that I paid off and sockdrawered. I am praying that Chase picks up the accounts and NOT Compucredit (Aspire). I have called Providian several times to find out who will be purchasing my account, but they won't tell me. They keep telling me I will get a letter in the mail. Again, I am praying it is Chase, I already have two cards with them.
Sirrowan- It reported to the CRA's with a balance when I didn't have one, so I guess it's from just closing the acct.
Wasn't compucredit pulling AR's on people not that long ago? Has anyone gotten any info from compucredit? Azur- Has Chase of CompCredit pulled your report?
Compucredit did pull an AR report for TU in June, but I haven't heard or seen anything since then. I am REALLY praying it isn't going to be them. When I applied for my second Chase card, the rep mentioned my Providian cards and said something about them being converted. But, I don't think she knew what she was talking about. I believe she was mistaking my account that I have with them with the Providian account. When I mentioned it to another rep, she acted as if she didn't know what I was talking about. I really wish there was someone to call to find out. I don't want to wait to the very last minute and they finally decide, oh we decided to close your account instead of selling it!
