Providian increased my CL

Hi, Dan, not sure what you meant by this:

"I have one collection on that account . . . Does the fact that I have a good history with them mean anything?"

Having had a collection on the account doesn't sound like a good history to me, but perhaps you meant the collection was on a different account with the same creditor?

Doc

 

Just so you know, they don't give a flying flip about your history with them.

This is just from MY experience, and what I have seen from others.

Yes, they are trying to keep the existing portfolios that they didn't sell or plan to sell by offering increases, but I say once a snake ALWAYS a snake.

 

I have been with Providian for a year and 2 months. After four months my limit went up from 250 to 950. Then, eight months later they increased my limit to 1350. I have never been late and I have never paid less then $100 a month.

To top all of that they just decreased my interest rate from 23.9% to 7.99%. The 7.99% only lasts for six months, but then it goes to 18% which still is much better then 23.9%. I have been pretty happy with them so far.

 

It was there unsecured card. I got a year ago when my scores were EX 630 EQ 625 and TU 595. I had alot of chargeoffs and the sort on there then.

I think the biggest thing they look at once you get an account is of course that you are never late but also the amount you pay every month. I have heard stories of Providian raising interest rates and what not, but they have been good for me so far. I have always paid well over the mininum and I also use the card a lot.

 

I have had two accounts with them for 2 years. Never late, never near being late. Yes, they gave me increases like they were presents, so I started using the cards exclusively, carrying balances. I pay my credit card bills twice, sometimes 3x's in a month. The reason my account is being sold? My opinion, at the time that THEY were having difficulties, they evaluated my account and decided my utilization with them was too high. Again, this is just me speculating. But, it really doesn't matter, because I have paid both cards off, and am anticipating the day that they sell my account. (I refuse to close because I want to keep the history.)

I used to be a Providian advocate until they decided to show their true colors.

Now, I am living in Prime land, so I don't need them.

 

I have had an account with them for about 18 months. They just upgraded me from Gold to Platinum, drooped my interest rate to 18.99%, and bumped my CL up $500 to $4700.