I obtained a providian secured visa card in 9/01. I have since paid as agreed every month. I have called once back in 5/02 to request an unsecured visa with a higher limit and lower rate. The rep. told me that I wouldn't even be eligible for an increase in limit until 18 months from the date I obtained the card. And also, I would have to pay them for the increase in my credit limit. Is there a certain way to go about getting this card unsecured? I have been basically happy with this card especially since they were the only ones at the time who would give me a credit card. But there is no grace period!!!! My equifax score is around 653 at this time. Any suggestions would be greatly appreciated! Sirrowan
Just out of curiousity...how did you go about obtaining a Providian Secured acct? I am not really crazy about this company but was interseted in their secured product.... do they send mailings out about the secured card or is it something where you have to call and request an application from them directly. I was wondering as I never see this card advertised, but get numerous Smart card offers/now Plat offers--every Tuesday of every week, but I never saw a secured application and was wondering what the terms are for this secured providian card. Any information would greatly be appreciated. Thank You, Jeremy
Jeremy, I had received preapproved promotional letter in the mail. I called them to ask what the qualifying terms were and I think it was verification of current address, which must match the address shown on your credit report. I do not remember which credit report they pulled. Also I think that they might have verified my income. That was it! But.....It cost me $49 app fee (nonrefundable if accepted) and I had to send in a savings deposit, which I can't remember how much that was, maybe $50. There was also a annual fee that hit my account immediately. There is no grace period on anything. I think I even had to pay interest on the annual fee! The only problem that I have had with them is that I made my December payment too early and they tried to say that it was just another payment and not the scheduled payment and attempted to charge me a hefty late fee. They did remove the late fee, but still show in their system that I was late on my payment (not enough to be reported to the CRA's as such). This really pissed me off! I was so happy to be reastablishing my credit with a new credit card, it made me happy to make an early payment on anything. Boy did this come back to bite me in the @@ss. Here is their phone # 1-800-488-8690. Call them and find out what their terms are before suffering an inquiry into your report. Good Luck! Sirrowan
Sirrowan, I don't know if this will help, but I applied online for one of their Smart cards. Was approved for "Prestige" account: 16.9%, no fees, 2k limit. It's currently my best account. My EQ score was right around yours, but I had bk7 only 16 mos. old. If you can afford to burn an inquiry, maybe you could apply for that and just close the secured account. CPac
