I filed my BK in 1997 (after my 4 years college) and survived without cards for 2 years. In March 1999, I rec'd Providian unsecured Visa Classic for $59 processing fees and $59 annual fees with 23.99% APR. I am maintaining this card very well (on time payments etc.), by May 2000, my limit was increased to $2,200. In June 200, they increased to $3,250/- and upgraded me to Gold Visa. This month, they raised my limit to total of $4,250/-. In Sep., 2000, I asked them to reduce my APR and they reduced it to 19.80%. In Oct. 2000, they sent me an invitation for Providian Master Card. I did accept the Providian Master Card with $1,000/- limit (it has $59/- annual fees and 23.99% APR).
I agree that Providian is a great credit builder. They come thru with increases like clock work. I got my card in 5/00. They gave me an automatic increase of $400 in 9/00. I think that is pretty good. Interest is high and no grace period. But at least with providian your chances of being stuck with a dinky $200 limit for 1 year is very unlikely. They are my second oldest card and 2nd highest limit so I will hold on to them for a good while. IN other words, I recommend Providian for the creditly challenged. lol. Roni,
