I have a basic unsecured Providian Visa and Mastercard. I thought they had NO grace period. But the most recent statements are showing that there is no finance charge each month. I pay off my cards in full each month. But it seems to me at one time, I remember I had charged something my first month and was charged a couple of dollars finance fee because there is no grace period. Has Providian changed this? Do they just change your account to having a grace period without you being notified. Or am I not understanding what a grace period is? If I charge things during the month but pay off the balance in full every month, would I have a finance fee if there was a grace period? Thanks
I'm not sure how they calculate the interest rate, but I paid off my balance last month right before the billing cycle ended. I had no interest added to my account. Go figure. I don't think they are offering a grace period, I think it may be a glitch or something. Providian is bound and determined to make as much as they can from accounts without a grace.
I have a gold premier which is kind of semi-prime. It does have a grace period of 25 days if prior months balance is paid in full.
miles, I think you're right re glitch. Some months back, another Providian cardholder mentioned on Creditnet.com that he was denied a grace period but when he paid in full within a cycle, he didn't get a bill for finance charges. I'm tempted to try this myself. I may do it next month and, if I do, I'll let you know what happens. Marci
