I called Providian a few months ago when I began my credit repair journey and asked them to decrease my interest rate from 23.99 to something more competitive. They said 'no dice'. The CSR told me they were reviewing all accounts as providian was leaving sub-prime land, selling off the sub-prime accounts, and will lower the rates for the customers they decide to keep. I just checked privacy guard and noticed a CL increase. I called providians 800 number, and the voice mail system said I was part of something called 'the great American rate sale'. After talking to a CSR I learned that my new rate was 9.9%. I almost fell out of my chair. A 1.5k CL increase and a rate reduction from 23.99 to 9.9. Unbelievable.
Greg, Congratulations. I believe this rate applies only to purchases made from Nov-Feb. I hope that is not the case, but please double check this great american rate just to be sure. Good luck.
ARE THEY REALLY COMING TO PRIME LAND WHEN OTHERS LIKE FLEET AND CHASE ARE GOING TOWARDS SUB-PRIME LAND???
That is why I called. I said I understood that the 'american rate' is 9.9%, but what is my new 'normal' rate going to be? The CSR said 9.9% is my new regular rate.
Yup, I got a CLI of $1.5k the largest since I opened the account in 2000. Don't know what if any APR reduction I may get but currently it is 18.99% (not good). Of course I will use it to buy a Happy Meal once a month for activity. Best regards, Mirage
NO... The rate sale applies to your purchases made from now (November 20 actually) until January 31, 2004 and will continue on those purchases only until you pay them off*** Which means if you have a balance on the card now that will continue on at your regular rate and any NEW charges will get the 9.9 then when you pay off the 9.9 gets paid off first locking the other balances into the higher rate for longer... you get the idea. If you have anything on the card, pay it off as much as you can before charging anything new and that way you get to take advantage of the offer as much as possible. Other than purchases made now until January 31, 2004 you'll still be charged your normal rate and after Jan 31 you'll revert to your old rate on charges. You did NOT change your terms to a fixed 9.9 forever. You'll get a notice on it and it should contain this information.
Re: Re: Providian Comes Around I was on hold with providian following up on a request for a rate reduction and CLI when I heard the ad for 'the great american rate sale'. When the csr took my call, she told me that my review was complete, and my new fixed rate was 9.9%, as long as I never default.
Re: Re: Providian Comes Around Congrats to those with the CL increases and better terms... perhaps they are trying to be more prime like. They lost me forever after the Emerge debacle even if they paid me to use their card I would not have it in my house.
Re: Re: Providian Comes Around I called to check the status on my Providian Gold account and thought I typed in someone elses account number when I heard the automated account information. I had to call again to believe it. I got the same 9.9% short offer but the Credit limit increase was unreal for my credit situation. The credit limit was bumped from $1000 to $3500. And there is still no annual fee, I still can't believe it!
Re: Re: Providian Comes Around Actually in my case it is 5.9% and it is a short term offer. The people on the phones are probably trained to play stupid and say you now have a low fixed APR
Re: Re: Providian Comes Around Time will tell when the next 3-4 statements roll around. If the low fixed apr sticks around, then that's way cool.
Re: Re: Providian Comes Around I still don't trust Providian at all though. My 5.9% short term offer will be used in December for big Christmas purchases. $7.99 in gas at a gas station. Pay it off. The credit limit increase from $1000 to $3500 was completely unexpected though.
