Lower APR with Providian

You are so right. I learned you can lower your apr from this site also. I had a 23% apr I called and asked for retenrtion and they lowered it to 19.8%. Here's the kicker... I have had the card or less than 1 month.

-Kenny

 

Thanks for the info. I'm about to hit my 1yr mark with Providian and want to lower my APR. I'll be checking into that this month.

 

You can call 1-800-215-7318 directly and get Providian's retention department. FYI: I call Providian every 4 months asking for something. They lowered my APR from 23.99 to 16.99 off the bat. Then I got the 59 fee refunded (they'll do this once per account but not every year). I also call and request credit line increases instead of responding to the increase offers with fees. So far, I've had the card 15 months and I have gone from 500 to 5599. I've been told that this summer they're getting more competitive packages with 14.9% interest rates so keep trying!

 

Yep! I found this out accidentally! I was in Tampa and I had serious car problems. I had been using my Prov visa and it had only 500 left. I have other cards but would've been a bit embarassed b/c they have lower credit lines (put 200 here, 300 there) and so for the first time I called in and requested a line increase. I told the lady what was going on, that I wasn't even sure if I needed an increase but I'd rather be safe than sorry... could I request an increase (I was a bit embarassed asking). They were so nice though. Now, here's the key. When you look at the back of your upgrade offers they say something like "must be 120 days since your last increase over 200". Translation: if we've given you 200 in the last 4 months you can still ask for more. If you got anything over 200 count 121 days and call in and ask. Now, my payment history with them is Perfect and I've run my balances up and down so I've got a good profitability score with them. I use them like they want me to and I let them make some money on me right now. Anyway, her first response was to see that it'd been over 120 days since I'd last gotten an increase (I paid twice for the 1000 increases/99 fee... argh) and she put in a request for 1000 more credit for me. she said they request it from the credit dept and they approve it but she didn't see why not. THE BEST PART IS WHEN THE REPS ASK FOR AN INCREASE THERE'S NO FEE FOR IT!!! Yes, here's the big loophole in the system folks!!! I've done it twice now for 1000 each, no fee. Later I actually complained to www.planetfeedback.com and I didn't get Gold Premiere but I was also given 1000 in more credit just 1 1/2 months later. I think planetfeedback.com is also a great tool b/c Providian responds to it. Call them first and request an increase. I've also found a couple of other loopholes in the system... using the "free extra credit" with Destination Unlimited and Health Advantage (they give you 200 in emergency credit each, but you have to activate the lines) and then I cancelled the programs and kept the extra 400 in free permanent credit (caution: they do look at these increases against the 120 day rule: so ask first for an increase and then use these programs to further increase you in the next month). I put a post on this yesterday... and I've only been online here for 2 days so you may want to look at some of the other Providian posts in the last 2-3 days! Have fun! Oh, I also easily get them to refund the 59 yearly fee (once only) and they reduced my intest rate from 23.9 to 16.9 in one swoop. I'd go for the line increase first, then in a month call back and ask for better terms... ) Call every 120+ and ask for something. I've gotten something from them every time! Hope this helps!!!

 

Don't always have to call rete

Oh, just a bit more clarification. I normally just call the regular number. I never threaten to cancel... I just say I love the card but am disappointed in the xxxxx. or, "hey, you guys are great... how much can we increase my limit today?" I only use the retention number once or twice a year. Posted it for everybody's convenience since they do have more ability. Also, if you're talking to a rep and have more than one card... always ask about the other card too! When they're in a good mood ask for more! And whatever they offer me at first I ALWAYS ask "Well, how much better than that can you do?" and I tease around with them. I truly believe if you're nice and have them laughing they'll do whatever they can for you! 500 to 5599 in 17 months so far. Now I'm working on my new MC!!!