Hi all, Anyone successfull in getting Providian (I have a Providian Paypal account) to increase their credit limit by telephone with customer service (I am willing to try Planet Feedback if necessary)? I have not had an increase with them in over 4 years. I am hoping to get one as I am trying to increase the limits since I will be shopping around for a home loan and am hoping to up my scores. Thanks, CR
Providian is purely score driven. They do not accept requests for limit increases but they look at your trans union report monthly. I have a friend that has had 3 increases with Providian within the last year.
I agree, it is entirely score driven. I asked for increases in the past and got nowhere, but I have had two increases without asking them this year alone. I am not sure what else causes them to decide to increase the limit.
My boyfriend usually gets annual increases with Providian unsolicited but it doesn't come alone--he also gets a interest rate increase. Sometimes his interest rates increases twice a year. Now it is at 27.99%!!! His balance is about $8000 so you can imagine his minimum payment. I don't know if the interest rate goes along with the credit increase but I suspect that it must have to do with his credit rating. So if you get your increase, check and make sure that your interest rate doesn't increase along with it!
Providian is giving him the shovel with which he can dig the hole he's in. They will milk him of money until he is dry. His only answer is to STOP using that card and pay it down as fast as he can.
WOW! I wasn't expecting a response to my statement but thanks for the advice! I assumed such and told him so but that is his only major credit card. (He has only a Gateway card.) He's afraid to stop using the Providian card because he thinks he can't get another card because he has a 3-yr old judgment against him.
Providian is also famous for selling accounts, closing accounts without reason, and THEN raising the APR through the roof, etc. I would agree with the previous poster's advice NOT to use this card anymore, as the minimum payment is probably not even making a dent in this balance, and is simply going to make it that much more difficult to get out of this hole. IMHO, this is a treacherous tightrope to walk, as any additional credit dings on his report may cause any of the above-mentioned actions (without warning) and I myself have encountered a situation where they halved my credit limit (before simply closing my account, for no reason), which could create an easy situation to allow for over-limit fees. A. J.
