I have noticed a lot of the recent talk about Providian's different tactics-lowering cl's, increasing interest rates (astronomically), and selling off accounts prime/super prime and not so prime accts...after doing some research I found on their website a pdf of their 2001 annual report which outlines their reasons for some of the aforementioned credit shananagans... it is some what lengthy and I had to use adobe to read it. Also sorry if this is repeated from another posting: http://www.providian.com/annual/pdf/10k.pdf This is their 2001 annual report but I believe it was printed recently as it talks of the sale to JP Morgan Chase, and also gives a disertation on the reasons why they are changing terms and who they consider credit worthy now. The text is small and made me squint after a while but found some rather interesting information about the Providian. Hope this is enjoyable to those who like/dislike despise have been a cradholder for years or just recently became financially tied with or whatever your feelings or reasons might be to read about the Company Once known as First Deposit. Jeremy If the link does not work go to their website under Corporate Information, then click on annual report 2001.
