I have 16.9 on my Gold Visa and the same on my classic MC. I have been told by every rep I've asked that 16.9 is the lowest they offer on classic or gold. Intro rate on their Platinum is 14.9 (the upgrades they're now offering us) . If you have stellar credit then Platinum can go to 9.9, I've been told.
I currently have a 16.9 APR on the Gold Visa as well with a $8300 CL (have had acct for 5 yrs). I have asked several reps and they said they could not go below this APR. On my MC, I said, "please close my acct" after they refused to go below 16.9" and they said "if you insist" and did promptly close it. Have you been offred platinum upgrades (that you refer to above)? I was told by the reps that platinum was an entirely different division and that their computer systems weren't linked together, but they hoped to offer platinum upgrades in the future. Has anyone actually received an offer via mail or otherwise to upgrade to platinum and successfully done it? Please do share!
I have a rep I talk with who I believe is very honest with me and 2 weeks ago she confirmed that the computer system is still an issue (remember, this is the same bank whose computer system won't even allow us to access multiple accounts). She said that even account benefits (aka retention) can't change yet but that there have been batches of Platinum upgrades (for a fee) that have been sent out. The party line is that the computer system will change over this summer (July) but she laughed and said she doesn't expect it to happen til the end of the year. They were told in Nov last year that it'd be up and running by Feb 2001. Hmmm. come and gone. Once the new system is up and running (should I say if?)... then there would be 3 ways to get a Plat upgrade 1. they send an offer (mktg) 2. reps can offer it w/out us asking for it 3. we ask for the upgrade I actually made Plat w/Cap1 before Providian and that's SO backwards.
I have a 15.9% APR on my Providian visa gold. They offered to lower it from 19.8 to 15.9 or give me a grace period. I took the 15.9 on my visa and a grace period (at the 19.8% rate) on my mastercard.
Oh, the last time I asked about a lower APR I got a huge lecture about how their portfolio was higher risk, higher interest rate. I basically said that I was perfect with them and with all my other creditors for the last 2 years... I am no longer high risk. She literelly said she knew they're building credit cards and they fully expect us to go elsewhere once we've rebuilt. It was an odd conversation. Anyway, I have been told by my contact that I'm on the list for Platinum upgrade offers when the retention reps can offer them. I am hoping that mktg will offer the Plat upgrade... but if not, I do know that when retention can offer them I'll get one. It's good to make friends inside your credit card company
I wouldn't trust everything that Providian reps say. I mean I was told that once one is locked into a card status that nothing can be changed, not interest rate, grace period, annual fee reversal, etc. I was told this by one man who a week later reversed my annual fee and lowered my APR to 16.9%..and now gave me a $1000 increase free of their fee. So if one wants a lower APR than 16.9% I'm sure it can be done...with a little persistence anyway.
