I am writing because I currently have two accounts with Providian that have very high interest rates. I am trying to pay off all of my debt and was wondering if I can close both accounts in order to pay them off?, and if I can, how does this look?
You can close them. It WON'T stop any interest. It will also hurt your F.I.C.O. score (DEBT TO CREDIT LIMIT RATIO).
George is right, of course. Closing them will only hurt your score. Try getting Prov to lower your interest rate... that would be worth a lot of money to you to get it at a 16.9 instead of (I'm guessing) almost 30%.. pay them off... count your fingers and make sure Prov didn't take them too.. and get away from that loan shark rate forever... where are the usury laws when you need them?
LOAN SHARKS INC. VOTED PROVIDIAN NOT ACCEPTABLE TO RECOMMEND TO THEIR BAD RISK CLIENTS... Bad risk clients are the ones who get bashed in the knee caps in movies when they don't pay...
