Providian just announced a few minutes ago they are closing their Henderson Nevada service center and laying off 700 employees. The layoffs will start on Dec. 7th and be concluded by Jan.13th.
Jeez, I hate when companies do this around the holidays. How much holiday cheer could you possibly have when management says "Merry Christmas, here's your pink slip." Well, Providian is on my "stay away from credit card " list. Dani
Providian depends on the deposits to fund its credit card loans, .... Depositors pulled $59.1 million from Providian's bank in October. from http://biz.yahoo.com/apf/011115/providian_2.html Time to find a buyer or Christmas is going to be blue for the remaining employees.
SINCE SUB-PRIME KILLED THEM, IT'S TIME FOR THEM TO GO "PRIME"!!! APPLICATION HAS JUST A FEW QUESTIONS...(my suggestions) 1) Have you had a BK in the past 2 years? 2) What is your TOTAL HOUSEHOLD INCOME? 3) Have you been LATE in the past 2 years? 4) Have you had any COLLECTIONS in the past 2 years? 5) Are you current on all your bills? 6) Are you willing to pay 9.99% or less interest? 7) Are you willing to BALANCE TRANSFER a minimum of $10,000 (REQUIRED) to pay off other credit cards with NO fee, and accept a MINIMUM credit line of $10,000? 8) NAME, ADDRESS, PHONE, SS# . 9) For "EXPEDITED" approval, give your EQUIFAX F.I.C.O. score in this box. When they give an application DENIED for 2 potential customers with F.I.C.O. scores of 704 and 741 in 30 seconds flat...it is time to go a different direction.
George if they had gone prime two years ago they would be 18 Billion richer today. What a fortune to squander. Imagine the resumes: I was the wiz kid at PVN who did not retain any customers with high FICO scores or seek new customers with high scores.
Of interest, my mother holds one of their prime cards (CL $25,000.00). She received it pre-approved for 0% or extremely low % balance transfer. She had never heard of them having never been anywhere near subprime. She took their offer. She told me they called her the other day because apparently they pulled her credit report and saw a large balance she was carrying on her Chase card. She said it was another low interest balance transfer from another card. They offered to match the % of the balance transfer on the other card and extend it an additional 6 months from what Chase had offered her. Maybe they are working harder for their prime customers now.
