More Providian Revisited

Discussion in 'Credit Talk' started by DaveLV, Jun 18, 2001.

  1. DaveLV

    DaveLV Well-Known Member

    About a week or so ago I reported to everyone here that in response to a call to their customer service, Providian offered me another $1,000 increase on my visa gold. Late last week I got a mailing from them offering a $2,000 increase! When I called to ask them about it they told me that not only would I not get the $2,000 increase but I would also not get the $1,000 the offered in the phone call because there had been an increase less than 120 days before.

    I wrote them this letter on planetfeedback. I'll let everyone know if I see any results.

    June 18, 2001

    Shailesh J Mehta, CEO
    Providian Financial Corporation
    201 Mission Street
    San Francisco , CA 94105



    Dear Mr. Mehta,

    I have been a Providian cardholder for over three years. First of all, let me please say "thank you" to your company for extending me credit three years ago when no one else would. You took a chance on me, and I hope the experience has been as positive for you as it has been for me.

    What I have appreciated most about my relationship with Providian in the past has been your generosity in extending credit limit increases. Normally, I have had no complaints at all about limit increases or your telephone customer service. I was therefore surprised at the latest exchange I had with your telephone customer service representatives.

    In a few weeks, I will be making an almost $6,000 purchase for which I will be reimbursed in October. Rather than keeping, my cash tied-up for this period of time I thought I'd call your company and ask that my credit limit be increased on my gold Visa account to allow me to make this purchase. I would then leave the balance on account for a couple of months with Providian being able to charge interest until October. To me, it sounded like a win-win situation for both of us. I didn't automatically expect Providian to approve the increase, and would have been content if the answer had been "no".

    When I called, the person who answered the telephone told me that my account qualified for a $1,000 limit increase and she could start the process in motion over the telephone. It wasn't the entire amount I needed, but it was a fair offer on Providian's behalf that would allow me to charge most of my purchase, so I agreed. I also agreed to a $49 fee for this increase.

    The following week, I received an offer in the mail for a $2,000 increase for the same $49 fee. I called your customer service line to tell them that if I was going to have to pay the $49 fee, I might as well take the $2,000 offer instead of the $1,000. At that time I was informed that since there had been upgrade activity on my account in the past 120 days, not only would I not get the $2,000 upgrade offer that was mailed to me, I would also not be getting the $1,000 increase offered to me over the phone the prior week.

    I understand your policy is to offer upgrades every 120 days. What I don't understand is why I would be misled by your telephone reprehensive who presumably have access to all of my account information. I also do not understand why you would mail me an upgrade offer for which you have already determined I do not qualify.

    Like I said before, this is the only real problem I've ever had with your company. I appreciate the credit you've extended to me and this incident really will not stop me from doing business with what I believe to be a fantastic organization.

    It would be great if you could follow through with the offer I received in the mail for the $2,000 limit increase. If not, any consideration for improved terms you could offer on my account would be greatly appreciated. My account number is xxxxx.

    Again, I'd like to say "thank you" for allowing me the privilege of re-establishing my credit.


  2. NanaC

    NanaC Well-Known Member

    Good letter! Good luck!! :)
  3. Jim

    Jim Well-Known Member

    Thanks for posting . I almost missed this one as fast as the board is moving today.

    I wish you good luck.

    BTW - My own Providian letter is in the works on something else.

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