If they approve you for this card-do they give you a grace period after you appear to be credit worthy? Or does this card always stay the same?-no grace period. I'm rebuilding. Already have some cards with grace periods. Just can't get over the $700 credit limit hump. Have been rebuilding since July 98. I have alrady been told by some of you to be patient, and it will come.
I asked them this exact question. The answer was a resounding NO. No grace period, not now, not ever. However, Aria (Providian's subsidiary) offers a grace period for its Portrait and Platinum cards (but not for the Persona). Saar
I spoke with a Providian representative & supervisor recently. I was told that they are merging their prime & subprime units into one company. This will enable customers in the subprime side who have displayed an excellent payment record & who have improved their entire credit profile to be considered for upgrades including their platinum cards. The supervisor stated this is necessary as they want to keep their customers even after they have repaired their credit. Hope this helps!
Providian is negotiable about the terms. I recently got a waiver of the annual fee, a grace period, lower interest rate and a $1000 credit line increase in one phone call.
Yes they are negotible, you just need the right person, a rep can't help you but a supervisor can. And you can walk away with a lower APR and no annual fee ect...
Very Interesting That's very interesting, and it certainly does help. We all wonder how good a "relationship" we can develop with the new (and possibly improved) Providian.
What type of card do you have that they offered you a grace period. Is it a platinum card? If not, how did you accomplish this?
It is a gold card. At one point the balance was up to $6500. I paid it down to $500 at the rate of $1000 per month charging only about $20 per month during this period. When I called, I told them that I would love to do more business with them but I was deterred by the high interest rate and so I tended to charge more on my other cards.
You can accomplish this with any other cards, the important thing is to wait until you have had the card for at least a year or so, and no overlimits, or late pays. then you are in the position to exersize your strength and negotiate a lower apr. It may not be easy but it's well worth the trouble. Tell them you have recieved lower apr's from your other creditors, but that you enjoy their bank, but need a lower apr . Also read the other posts regarding this issue, it'll help tremedously. Good luck.!!!
Nice approach. Don't threaten to cancel the card, just hint that you might not use it. By the way, any approach works better if your balance is zero or close to it. A balance of only $500 out of $6500+ gave you a big advantage in your negotiations.
