Well they got me too, I paid $99 for the increase in January 2002, after the 20 minute runaround, I finally got the # to the executive office. I said either raise my CL back or give me my $99 back. I am getting the $99 back. My CL went from 1600 to 1145, 2 years with them, no lates or over limit, all other cards pd on time last 5 years, but she told me they are pulling all 3 CRA's and any derogs get a decrease. Well at least I'm getting my $99 back. So screw them, if you paid for an increase, get it back or maybe they'll face another class action suit.
Have you received a letter from them telling you that your account will be serviced by another company soon?
I have one of those pay a $29 "processing fee", get a $1k credit line accounts. I've had it about a year now, never overlimit, always on-time. Have 5 other credit cards that have high balances, and 2 gas cards that are payed off monthly. My credit reports are getting cleaned up but I still have old collection and BK on at leaat 1 CR. Yesterday, I got a $500 INCREASE, without asking no less! I haven't checked my scores in 6 months. At that time they were in the 540-650 range. I'm sure they are all in the 600's by now.
spyguyjim That's great. When you carry a balance month to month the credit card companies make a lot of money off of you. This boosts your profitability score. That is probably why you got the CL increase.
Providian is in a lot of trouble. They have been sued in the last few years by everyone and their mother. They have had to pay out around $500 million already(yes, that number is correct). Some of the trouble is with their CEO and others on that level for insider trading-type stuff. There is still 2 cases that have not gone to trial yet. Check the links below: http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2001/10/22/daily21.html http://www.providianfinancialsuit.com http://www.cmht.com/casewatch/cases/cwprovidian.htm http://www.cslib.org/attygenl/press/2000/coniss/pvdrel.htm http://www.kcstar.com/projects/carddebt/2side2.htm
