I didn't keep up with this one at all, but didn't they recently lose a lawsuit? Or change their policies or something? Anyway, not sure of the details but I thought this was interesting. We're going on vacation and wanted to take a CC along so I started saving all the offers we get in the mail. Providian had one for 0% until May, 2003 with no annual fee and we ordered it. Ed (husband) got it in the mail and called to activate it. Uh oh! I knew there was trouble when I heard him saying, "I don't think I'm interested." "No, probably not." and then the kicker, "OK, I guess you can send it and I'll look it over then cancel in 30 days." I RAN in the room after he hung up and asked what he'd agreed to. He said the guy went on for like 15 minutes about all these different programs and stuff and finally to shut him up, he agreed to let them send the package and then we'll call the number to cancel. I was pissed! I tried to tell him the trouble people have trying to cancel those stinking programs and never never never agree to them, but he didn't catch it in time. About 30 minutes later a Providian supervisor called and said that after reviewing the tape they determined that Ed clearly and repeatedly said no to the program and the salesman kept pressuring him. The supervisor apologized all over the place several times and said that this is NOT how they do business and he wouldn't be receiving the program stuff in the mail. I wondered if pressure sales tactics were included in the lawsuit? Lisa www.IBeatBeneficial.com
If you want info on Providian I would go to the Yahoo finance section. Type in Providians stock symbol which is PVN. You can then get a wealth of information regarding to "news" info. Also you might check out the message board. Don't believe everything you read on the board though. There was a lawsuit filed against a former PVN board of director. The lawsuit was filed by a government watchdog. The person (can't recall his name) works in the white house investigating the current business fiascos i.e., worldcom, enron, etc. It's kind of like having a thief as a jailguard. This man made millions in PVN stock and claimed he didn"t know about the thousands of complaints against his company. Yeah Right.
