Providian.... I did it!!

Discussion in 'Credit Talk' started by miles, Sep 22, 2001.

  1. miles

    miles Well-Known Member

    I closed my account with them. I just can't take it anymore. There are too many fees involved (ie: the recent news about online payment charge). The final straw was when I received a credit line increase offer the other day of $500 for $49. This is an insult. I have been a Providian customer for 5 and a half years with an $8,000 limit. My payment history is excellent and I cannot get out of subprime with them. I finally realize if I haven't received an offer for Platinum with a low rate by now, I never will. I now have prime accounts with Amex, BofA and Chase. Providian should recognize that many subprime customers will not remain subprime.

    Providian really did help me get my credit on track, but they will continue to lose good paying customers who have moved into prime status. Offers and upgrades should reflect the customer's current credit history not the situation they were in when they applied for the account. It's too bad they don't realize this. It is obvious that a subprime customer will never move to the prime arena of Providian.

    When I called, customer service was very friendly as well as retention. However they could not offer me anything. How sad.

    I hope everyone else who has a subprime account does much better than I did.
  2. dogman

    dogman Well-Known Member


    Miles, I had much less of a credit limit with them
    than you - $3200! BUT, I was paying that dog full tilt every month!

    They would not lower my rate or increase my limit.
    They even threatened they were going to raise my rates if I kept the card! That was EXACTLY when I now had AMEX, Nextcard, PRIME CARDS!
    My average FICO is 660 - I mentioned that to them and of course - there was nothing they WOULD DO!

    Providian does not ever move sub-prime to prime;
    AND, it is clear with their stock down 30%, they need to immediately find ways to raise money - this would really help! Charge $10 for an online payment - and remove all human costs from the equation at the same time. Each hit on a server for an online payment transaction might cost .05! Probably less!

    Congratulations Miles! Providian is not market savvy at all with respect to customers getting prime status! Cap One turned me into a prime "NO Hassle" 9.9% Gold MC. I started out with them with a $500 card! I have retained Cap One!

    Providian loses out on another GREAT customer!
    Be safe Miles!

    c ya dogman
  3. miles

    miles Well-Known Member


    Thanks dog! You're right. They don't have a clue.

    Hope you're doing ok. AARF! :-D
  4. sam

    sam Well-Known Member


    congrats i just closed them. the idiots called me the other day and asked me if i wanted some $149 program, i was like dude, your stupid, my account has been closed for over a month..
  5. dogman

    dogman Well-Known Member

    BRAVO 2 U 2 SAM!!!

    Congrats for getting rid of them - looks like the 3 of us got out B4 the big press of new wave of charges!

    Don't worry about the declines on the mail call.
    Most will approve you the second the derogs go away.

    C ya Dogman -posting this response at no charge!!!
  6. Saar

    Saar Banned

    Re: BRAVO 2 U 2 SAM!!!

    Well done, Miles!

  7. SisterGirl

    SisterGirl Well-Known Member

    Congrats !!!!

    I guess you were the call before me(lol),because I closed mine YESTERDAY in light of the recent "fee for payment" crap that Marci brought to light.

    Today I received my statement & change of terms that she mentioned,but tough stuff for them.

    Sister Girl
  8. miles

    miles Well-Known Member

    Thanks all. Congrats to you too Dogman, sam & SisterGirl. Providian has lost out on good customers. You'd think they would do everything possible to keep their low risk customers. Congrats to you too Saar for not getting involved with this mindless crew. You're lucky. Oh well... another one bites the dust! :-D
  9. Bill B

    Bill B Well-Known Member

    I didn't close yet but i did have citi-bank send the money i owe them..I have been with them for 38 months and the lowest they go for me was 16.90% and $6,449 CL..I did cut the card up but was going to leave it open because it is the longest credit line on wifes history..Also going to send letter through PF and let them now it will remain $0 and what i think of there charging to pay online..And for ehat just happened this week..Paid $49 for $1,000 increase but was suppose to be $3,000..Emailed them and they said only one increase every 120 days..I said if you handled your mail correctly i wouldn't even be calling you..They didn't receive the paper through mail so they did it over phone and screwed me..Should i close it wifes score is only 633 right now.
  10. daveberk

    daveberk Well-Known Member

    I had Providian for five years, built my limit to 10.5K and my payment record was stellar. At times I carried large balances and made huge payments.

    The final straw for me was their refusal to waive my annual fee this year after telling me last summer that it would be waived permanently. I told them that my policy was not to accept or renew cards with annual fees unless they offered rewards. They refused to budge and I closed the account.

    I agree with everyone here that Providian only wants to lend to people with credit problems who will tolerate all of the fees they want to charge. The customer's "reward" is a card with a high limit and the opportunity to pay massive amounts of interest and fees. It's not worth it once you've rebuilt your credit. I have high limit/low rate cards with Citibank, MBNA and Nextcard. I am glad I kicked this one to the curb back in June.

    Next I will see if Orchard agrees to waive the annual fee on my gold card which renews in October. If not, that one is gone too.
  11. sam

    sam Well-Known Member

    dave you should call household/orchard every quarter and ask for more. They are very lenient these days. More so than providian was.
  12. dogman

    dogman Well-Known Member

    BILL - Thanks for the reminder!

    I got one of those notices (several along the way) to pay the $49 for a $1000 increase. Before I knew better - of course I paid it.

    The next day or two I got a notice for a $2000 increase for $49. I called them and said, give me the $2K vs. the $1K.

    They told me I had accepted an increase already
    and they could not relook at it for another 120 days.

    I was happy that day LOL!

    c ya - Dogman
  13. dogman

    dogman Well-Known Member

    I like that term....

    "kicked this one to the curb"!
    c ya dogman
  14. rubyjean

    rubyjean Well-Known Member


    Just to let you know that the average cost for the outside vendor who processes the EPS payment is aound 21 cents.. Also do not be so concerned with a Fico Score in regards to you ability to get a loan.. You can have a 700 Fico 2 years post BKO, if you have a couple of small secured Cards with good payment history.. That 700 Fico will not still be enough to get you a credit card with a major Credit card Company such as Chase, MBNA , ect... Surely you do not want a Fico Score down to 500, But you can still get approved for a Major Credit Card with a Fico score of 650.. There are a lot of Factors.. How long have you been at your job.. Years at residence.. Do you own or rent your home.. What is your credit history like.? Have you paid your debt as agreed, The Depth of your file with your maturity.. To much is made of the Fico scoring on this Board.. Just have Stability , ability and willingness to pay.. and you will have it a lot easier getting revolving credit
  15. Bill B

    Bill B Well-Known Member


    I just seen this on the news and i am not kidding..I bet providian will be making out like bandits..
    Their was a guy walking up the street going to the WTC and along the way there where lots of papers on the streets, But on went by him and was on fire so he grabbed it and put the fire out..He put it in his pocket and then he sent it back to the person here in Ma..It was her bill and check for providian bank..It was on one of the plains with all the other peoples mail..Who wants to bet she got a late fee? I bet she did and many others but atleast she has the proof she sent it,But she said she is going to frame it i guess..
  16. RichGuy

    RichGuy Well-Known Member


    I agree with every word, Miles.
  17. Voyager

    Voyager Well-Known Member

    Re: Providian, Orchard

    Providian told me just a few moments ago that online bill pay will remain free. Friday they said the opposite. Maybe already they are feeling the pressure of a public relations fall out.

    Orchard offered me a cl increase of $200 for $50. They are lenient but still very greedy.

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