I have been negotiating terms with my lenders. Here are the results: Providian Gold. This account is five years old. Refused to budge off of 19.8 despite good payment record. Maybe it's too good because I pay it off every month. Still wanted the APR reduction in case I ever did carry a balance. But, Providian did increase the credit line by $1500 to $10.5K. MBNA line of credit. This account is three months old. Refused to lower the APR from 17.9 even though they sent me an offer at 11.9 which I didn't respond to because I already had the account. Told me to wait three more billing cycles before requesting APR reduction. Doubled the credit line to $10,000 which was good since it reduces credit utilization on all accounts to less than 25%. Citibank Plat. Select. This account is six months old Lowered the APR from 15.4 to 11.9. AT&T Universal. This account is four months old. Refused to lower the 14.49 APR. I'll wait two more months and try again.
RE: negotiating terms (results has anyone had any luck in negotiating a settlemet with aria. I had some problems and mine has been charged off I would like to get things strait with them. Just wondering. I wonder if I will ever get another card from them?????????????????
RE: negotiating terms (results I doubt providian will give you a new account unless you pay what you owe excluding their late charges,over the limit fees,etc.Call them,and see if they will make a special repayment terms with you on your outstanding balance before you started missing payments.One thing you should keep in mind is if you settle for less the balance due with providian they will send you a 1099-C statement which will be reported to the I.R.S.,and you will owe taxes on the forgiven amount of the debt.So if you want to avoid taxes on this amount just pay what you owe.If you are having problems with them to agree with a new repayment schedule that works best with you,and them you will need to contact a local CCCS,or some other DMP in your area for them to work with your creditor.
