Providian apr reduced/PlanetFeedbk

Discussion in 'Credit Talk' started by Jim, Jul 21, 2001.

  1. Jim

    Jim Well-Known Member

    I just got my second reduction in apr. from Provdian on my gold card as the result of corresponding with the Executive office via Planet Feedback. Here is the account history.

    Opened Jan 2001 with excellent terms except the apr. was 23.99%

    First correspondence in March resulted in an apr. reduction to 19.8% effective in May. Four months after I opened the account.

    Second corresponce in June resulted in an apr. reduction to 16.99% effective in September. Eight months after I opened the account.

    All apr.'s mentiioned are fixed and I have had not had a credit limit increase although I asked for that too.

    Providian is my least desirable account. But it is better than it was.
  2. direct

    direct Well-Known Member

    Just achieved the first round from 23.99 to 19.8%
    using planet feedback.

    Would you be kind enough to post the letter you used on the 2nd round to 16.99%?

    Also, I requested annual fee waived and they said they couldn't do that at this time, maybe in the future.
  3. Saar

    Saar Banned

    Re: Providian apr reduced/PlanetFee

    Congrat's Jim!

    Have you tried Retention in the past? They can no longer grant increases, so APR reductions is about all they do.

  4. Jim

    Jim Well-Known Member

    Sorry, I can't post the letter because it was kind of lenthy and I am going out for the evening. I don't want to leave you hanging and as fast as the board moves, this thread will be history tomorrow. So here is the summary...

    I referenced the original correspondence from the Exec. Office. I mentioned that I had spoken to a couple of coourteous reps on the telephone. However, I politely said that I did not understand the Providian policy on reducing apr.'s and raising credit limits. I made my requests.

    I received a 2 page (8 paragraph) response explaining the policy. Along with the apr. reduction.

    My advice is to be polite because the executive office is beyond retention. I did not get a credit limit increase either time because in my opinion Providian will try to sell them to me at the 12 month and subsequent intervals.

    Best regards - Jim
  5. direct

    direct Well-Known Member

  6. Jim

    Jim Well-Known Member

    Thanks Saar,

    I knew all along that I would be very likely to get what I wanted via Planet Feedback. So I telephoned a Providian rep and also telephoned a Retention rep. The calls were friendly but only intended to justify my contacting the Executive office. For example I never threatened to close the account.

    Planet Feedback is great.

    Yes. I have heard that the reps can no longer do things for customers. But I was never told that.

    My Providian card is really intended to boost my credit limit/ratios. I never carry a balance. But I thought my thread would interest those here who carry one.

  7. Jim

    Jim Well-Known Member

    Hey Saar or anyone,

    If the Providian reps can not give credit limit increases but can still give apr. reductions; have anyone of them told you this first hand??

    The reason I ask...

    Is that if it is a waste of time to contact Providian reps regarding limit increases; I would like this independently confirmed. Many people here on the board have Providian. we have a need to know.

    Thanks - Jim
  8. MiamiBlues

    MiamiBlues Well-Known Member

    When I got my APR reduction on my Providian VISA I used Planetfeedback. Additionally, I faxed my letter to the Providian Executive Offices.

    They lowered my APR from 23.99 to 16.9 within 2 weeks. My next step is a grace period. Have any of you had success requesting a grace period?


  9. Mirage

    Mirage Well-Known Member

    Just called Providian about a APR reduction and a CL limit. I did not call the renention number just the regular number.

    The CS rep. stated they APR and Cl reductions are by mail ONLY. No exceptions.

    My last CL increase was in middle of April and by the CS rep. estimate I will not be up for review until last Sept. or Oct.

    Looks like Providian is clamping down.

    Best regards,

    Just Say No to Junum!
  10. DaveLV

    DaveLV Well-Known Member

    Manny -- I think you were one of the people who commented about my last planetfeedback letter to Providian. To boil it down here, I think I got a grace period but I won't know until my next billing period.
  11. FeliceRodo

    FeliceRodo Well-Known Member

    I would comment this is not true. I just got my annual fee waived last week and was told by retention I could call back next month to see if anything would be available for me like a apr reduction or grace period.
  12. Mirage

    Mirage Well-Known Member

    I did not ask for a fee wavier nor did I call retention.

    So my statement is still correct.

    Best regards,

    Just Say No to Junum!
  13. FeliceRodo

    FeliceRodo Well-Known Member

    Your statement is correct. My error in phrasing in response to your statement. I meant to say I take customer service statements with a grain of salt. They tell me increases and apr reductions are done only by mail. I call retention and get a lower apr four weeks ago and my fee waived. I don't think Providian is clamping down. I think their customer service is trying to get people to sensor themselves from using retention to improve their account terms.
  14. Mirage

    Mirage Well-Known Member

    FR- sorry about so snippy, it's been a bad weekend with the Junum and Wachovia mess.

    Best regards,

    Just Say No to Junum!
  15. Jim

    Jim Well-Known Member

    I read an article somewhere that stated that credit card companies are closely monitoring their customers as credit card delinquency is rising.

    When I spoke to the 2 reps over the telephone, they said that "something may be in the works". I had to pause in order not to laugh.

    The Providian letter I received mentioned that by "Providian account review" and "upgrade offers". Deliberately vague.

    Knowing the board - Someone here will call Providian and ask again for an increase. LOL
  16. Jim

    Jim Well-Known Member

    I forgot to add that the reponse to my first PF correspondence took 10 days for a reply to reach me. 3 weeks for a response to the second PF.

  17. jonesing

    jonesing Well-Known Member

    Oh man! I just got back from a long w/e away and look at all the messages!!! Now if only there were an offline message reader like Eudora or Outlook available...

    Anyway, I called Providian's "Special Customer Service" line about my limit. They are supposed to be a level above regular customer service, not sure if they are above or below Retention. The rep took a bunch of info like salary etc and then said they don't do CL inreases over the phone any more, they are only available by mail offer. She then told me it will "probably be a while" before I get a limit increase because I just had my APR lowered about 3-4 months ago! I called retention and got pretty much the same story. I'm going to try PFB as soon as I get all my account data (date opened, history etc) together so I can write a competent letter.
  18. Jim

    Jim Well-Known Member

    Thanks for the new (to me anyway) info about the "Special Customer Service" line.

    How do we contact them??

    BTW - I have no need to contact them now. But I would like to have the information for later on. Keep us posted on how you make out.


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