The nation's eighth largest credit card issuer said it is poised to pay an estimated $300 million to settle a year long government inquiry into its business practices. What you think?
EXACTLY! I said all along the fine would amount to 'chump change'. They STOLE a hell of alot more than that and have been collecting interest on this theft all along. More worrisome news is that the amount of complaints from its prime users is increasing http://www.slip.net/~netmaven/providia.htm http://www.epinions.com/finc-Creditpage-All and various other sites, I don't doubt that once they have settled this fine with the government it will be open season again; only this time at rates above 30%.
Considering that in 1998, Providians total annual Fee Income increased (in just one year) 99.5%, to over 1.26 billion, I'd have to agree with Barry. Pocket change indeed.
Providian thrives by stealing from their customers and treating them like criminals and dirt. It will not get my business even if it is the last bank on earth!! rl wrote: ------------------------------- Considering that in 1998, Providians total annual Fee Income increased (in just one year) 99.5%, to over 1.26 billion, I'd have to agree with Barry. Pocket change indeed.
