Providian honored their agreement to reduce the apr. on my gold card from 23.99% to 19.8% as the result of my complaint via planet Feedback in March. I received the gold card in January. The terms were $3,000 limit, no annual fee, 25 day grace period, rewards etc. All acceptable except for that 23.99 apr. I tried and failed to reduce it when I was accepting the card. My Planet Feedback complaint generated a response in early April. The rep who wrote to me said the reduction would take place in 1 or 2 billing cycles. Yesterday, I received the bill in the mail with the new apr. That bill represents the 4th billing cycle since I got the card. From what I have read here on the board the upcoming 5th and 6th billing cycles should be an opportunity to get a further apr. reduction and/or limit increase. Any comments?
Jim, Congratulations on your success with Providian. I to have a Gold Visa with a $3000 limit. I was able to get the annual fee waived by writing to the office of the president. However, no APR reduction or grace period. I will try Planet Feedback next. Manny
My wife got her reduction (16.90%) in yesterday's statement as well. This was a result of a phone call to the rentention department last March. As for cl increases she has just gotten one on her last billing cycle. The increases come every 4 months, her recent one was for $500.00. As for further APR reductions, I think she will try in late Dec., she is really shooting for the no annual fee as oppose to a lower APR. Best regards, Sam
Thanks guys: Manny, When you go the Planet Feedback route, expect a letter response from them about 10 days later. Providian is slow and I have never heard of them responding promptly via E-mail or telephone. Cap One is quite different in their response as they have the "consumer advocate". Unless someone advises me differently, I am going to wait for a limit increase offer from Providian in the next month or two. I am in no hurry as I went prime this year and pay off the Providian card every month. Thanks again!
