When I accepted the pre-approved offer from Providian for the card, I knew that I would start doing things to get that apr. lowered over time. Therefore, I called retention when the card arrived and tried without success to negotiate a lower apr. No surprise that I could not negotiate a lower apr. as I really do not want to cancel the card until I have used it for 2 years as a "credit builder". The Providian card is one of 9 active tradelines I currently have. Last week, I wrote an E-mail to providian via Planet Feedback and complained about the apr.I received a response today. Here is the response: Apr. lowered to 19.8% effective in 1 - 2 billing cycles from now. A 4.199% reduction is welcome, but I have to laugh at this stalling game. You see I am in the middle of the 2nd billing cycle right now. So the new apr. will be effective 90 - 120 days after I started using the card. I was also informed that my account will be reviewed every 3 months for further rate reductions. What this means is that I will be contacting Providian every 3 months to see what I can get out of them. I don't expect to receive any further rate reductions without asking for them. Overall, I am satisfied as I intend to pay the balance off on the card every month and as I said it is only the 2nd billing cycle on the card. Also, My Chap 7 BK was only discharged 26 months ago so from the Providian viewpoint, I am not exactly super prime credit YET. Congrats to Chet on his 16.9% on his Providian card. This is the rate I am after when I negotiate with Providian again in 3 months.