increase from providian visa c

Discussion in 'Credit Talk' started by Jeanine Li, May 29, 2000.

  1. Jeanine Li

    Jeanine Li Guest

    I have had a Providian Visa classic for six months which has a $500 limit which was a blessing because I had really, really bad credit. About three months ago I got an offer from them to increase my credit line by $100 if I would pay a $99 charge but because I didn't have the money I didn't say yes. then I got the letter again and I had spent what remained of my paycheck on paying some traffic tickets for speeding and no insurance for my car which i was not even speeding. Well now I got a free $1000 increase from Providian without even asking for it and they are not even wanting the $99. I have used the card alot charging Papa Johns , Exxon, WalMart, excetra. Has anyone else gotten an increase without having to pay or are they going to wind up charging my card because I just got a new air conditioner that was on sale at ward's and I also needed a cash advance to pay the cable and rent for this month with my new limit and I have about $40 or so left on the card and if they charge the $99 I will be over my limit and encur a late charge. Thanks in advance for your advise and may god bless you all this Memorial Day.
  2. JP

    JP Guest

    RE: increase from providian vi


    I can appreciate your situation here, but let me give you a couple of pieces of advice. Providian does give fee-free increases at times. If they charge you $99 for your increase you will be over-the-limit and will be hit with additional charges.

    One thing that your also missing is by having only $40 available, when the tack on interest and fees for your cash advance, you will be at or even over your limit. You should never charge more than 75% of your available credit. I also notice that you used a cash advance to pay the cable. This is a major no-no, because now you are using credit as income and eventually you run out of credit and then have lots of bills that you may not be able to handle. I would suggest that you work on setting up a plan to reduce your debts because with your $1000 limit, you also now have a higher monthly minimum payment.

    I know, I'm rambled on this one, but your post really concerns me.

  3. Barry N -

    Barry N - Guest

    RE: increase from providian vi


    JP is right. Please take some time to review your budget. One of the best things one can do in trying to rebuild credit is create an actual budget and stick to it. We have a section at our site about personal budgets, and its a good starting place.

    I also concure, never ever use your credit card for cash advances... or cash advance checks they mail you. The fees on these are usually outrageous. It would be better to simply pay the bill with your card at the cable company or over the phone.

    The hardest part of rebuilding credit is creating good personal finance habits. I hope the best for you.


  4. Rich Guy

    Rich Guy Guest

    RE: increase from providian vi

    Jeanine, some of your postings are a bit strange and I hope you will get some good advice from other members of this message board. I certainly have.
    Regarding your question about a possible $99 fee, I just accepted the same offer you turned down, and Providian charged the fee to my account immediately. They did the same thing with my first annual fee. Providian loves that fee income, and never lets you spend money that's supposed to go to fees.
    If you have any further worries, you could call Providian and ask them about a possible fee.
  5. carol

    carol Guest

    RE: increase from providian vi

    I too have a Providian which I started at $500.00 secured. After 6 months, they offered me a $1000. increase with a $75. fee.
    I accepted it as I was trying to rebuild my credit and thought this is the best way to do it. After 3 more $1000. increases I said enough is enough. I also read Suze Orman's book "9 Steps to Financial Freedom" (which I recommend to you all) and she wrote that that's one of the credit card company's tricks. The more times you get close to your limit, the more you'll receive the offers to increase your limit. Eventually, you will be so deep in debt, you'll need Consumer Credit to help dig you out.

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