Got this offer from Providian yesterday: Mastercard w/ $1k limit APR: 23.99% (in big letters by the way) Annual Fee: $59 Grace Period: none Cash advance fee: 5% ($3 min) Cash advance fee rate: 23.99% Late fee: $29 Overlimit fee: $29 PaySmart (paying over the phone from your checking: $4.95 but the first time is free. What do you guys think? I've been fishing around for another trade line after my fiasco w/ the Washington Mutual Secured card (it didn't report for some reason anyway). Anybody else have this card out there? What are your experiences?
I have this card, and There are some things I like about it....I have only had it since October, and have managed to get the interest rate down to 16.9. My credit limit was increased by $200, and I got an offer to add another $1000 to it for $49...I decided it was worth it, as I am trying to keep my debt ratio below 30%. Providian waived the annual fee at my first anniversary on my VISA, and they have raised my credit limit to $3300, in less than a year. If you don't have another Providian card already set up to pay online, you can pay it that way for free...my bank does an automatic payment for me, for a fee of 35 cents, so I pay the VISA online and the MC thru my bank. I make darn sure that the overlimit and late fees don't apply, so if you get them down to the 16.9 APR and have the membership fee waived, it isn't too bad a deal for building or rebuilding credit. I know that some of the experts on the board have said that they will eventually raise your CL without your paying the fee, but that is a personal choice. I check the online account frequently, and have had pretty good luck with the customer service people.
Re: I have this card, and I totally agree. The DAY I got mine I called retention. Got the annual fee rebated, 16.9 interest rate. This month I'll get that first increase.. and Providian is great on those. Since you already have a visa, use the website access as an excuse.
Re: I have this card, and They sent me the same offer I took it .. I Have their Visa as well . In less than 4 months I've reduced the APR on it to 16.9 and got a 700 increase 500 for 49 which was refunded later and anther extra 200. It works exactly like thier Visa Card . If you have both you can't register to pay both on line only one. Over all it isn't a Bad Card If you get your rates down and get the annual fee's refunded . Good luck
Thanks For Your Help! Yes I do have the Visa and it's registered on line. I just would like to have the trade on my report. I guess I could use it sparingly like I do the Visa. $1k is plenty of credit for me right now and to be honest, I don't think I would want a limit over that right now. I do like Marie suggested and as soon as I get the card, get the APR lowered to 16.9% like it is on my Visa. Thank all for your help.
