A few months ago I qualified for the third-level Aria card product, I think it is called "Persona." Anyway, I initially used the card b/c it has 0% interest for a couple of months -- upon review of the terms, I noticed that there was NO GRACE period on purchases. Okay, that kind of sucks, right? My plan was to pay off the card each month or just let a small amount ride on the card. However, at 24.99% interest, I'm not going to do that... I called to cancel the card this evening, explained why, the supervisor could do nothing about the grace period, however, she offered to lower the rate to 16.9% and said that they are considering a way to upgrade w/in the product line (to process requests such as ADD A GRACE PERIOD, etc). Anyway, I just thought I would share this experience. I doubt very much that I will use the card again until a grace period is introduced.
I received the same response regarding product transfers. A supervisor said he had no way to transfer me to platinum w/o cancelling, and reapplying again in a few months. By Feb., he hoped, requests like mine could be made possible.
With Providian, there's no such thing as paying off every month to avoid finance charges. The concept only exists in cards that offer a grace period. When making a purchase with a no-grace card, you're paying interest as of the minute your card is charged. Hence even paying off each month won't help you avoid finance charges. If your credit is such that can't get you anything better than the Persona, go for the Associates or the secured Capital One. Sure, they're nothing to brag about, but at least they won't rip you off. Saar
And they aren't so UGLY as the aria I see the card as a trade line, nothing more. I will not use it for anything but emergency cash advance if all hell breaks loose, and my other $5000 in credit is used up which is not likely to happen.. 16.9% isn't all that bad, though.
My uncle, who has a Providian Gold card and has worked as csr for them, told me that as long as you pay off what you charge before the billing cycle ends, you can avoid the high interest. If you wait for your bill, you'll most likely get stuck paying the interest. So his advice was to call Customer Service and find out when the billing cycle begins/ends and go from there. He also suggested leaving a little balance on the card so Providian has something to take into consideration when thinking of offering you an increase. Just my two cents... oh, btw, I also have a Providian Gold.
Yeah, my balance is currently is negative 30 cents and has been for 3 months. I have several other cards, I think the only reason I will keeps this one is for a true emergency, and as another person said, all other lines have been used.
