Like so many others, I had my Providian account closed involuntarily (closed 10/11, the same day I received the letter). Also like so many others, several months ago I received a letter stating that my interest rate would increase to 29% in December unless I refused the terms and closed my account. Having an open account was more important to me at the time. Now my account is closed through no action of mine. I have a balance that will be paid off by March. Are they going to increase the rate on my balance in December (probably a stupid question?)? Is there anything I can do to NOT have the rate increased? If I had known then that my account would be closed, I would have done it on my own. It's only a few months of higher interest until the balance is paid off, but still... this irritates me. Thanks. (Sorry if this has been asked already. I'm going through the posts and don't SEE this question, but it's probably there somewhere.) --Micki
I am strongly suspecting that the rate increase letter was to get people to close accounts. I don't believe it will ever go into effect on those accounts that were closed. Mine was to go to 29.9 in October and I did receive my October statement dated October 9 and the interest rate remained the 23.9%...which in my opinion was bad enough. L
I got the same thing, same timeline with the letters etc. I think we'll just have to wait and see or call emerge and ask what our rate is. I hadn't thought that much about it, I've just been assuming my rate would go up, but the timing does make a difference now. It sounds like they're going to do all they can to push us out the door also, so if yours survives as open, you might as well close it asap to avoid anymore problems. Newstdt
Anything thing...I think it would open them up to lawsuits if they gave notice and gave a date to close the account and keep the same terms and then closed the account the same month the new terms went into effect. L
i got that letter and my account was closed. The next month those fukers raised my rate from 23.99 to 28.99
It should remain were it is now if you close it...if they have a "I DON'T ACCEPT YOUR NEW TERMS NOTICE" you MUST send notice to that address in the notice...
