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Providian update

Discussion in 'Credit Talk' started by Jim, Jun 5, 2001.

  1. Jun 5, 2001 #1
    Jim

    Jim Well-Known Member

    In January I received a gold card with $3K limit, noannual fee, 25 day grace and a 23.99% apr.

    I complained via Planet Feedback about the apr. and it has been reduced to 19.8%. This is old news.

    Yesterday, I spoke politely to a rep about my account. Today, I followed that call with a 2nd call to Retention. I was informed a credit limit increase is in the works. More negotiating is obviously ahead when I get the offer in the mail.

    Just a routine Providian update.

    P.S. I did not threaten to close the account as I have no intention of ever carrying a balance on the account anyway. I did not want to go overboard with Providian as I have been reading Dogman and others posts with some concern.
     
  3. Jun 5, 2001 #2
    dogman

    dogman Well-Known Member

    Re: Providian SCREW JOB?!

    Here is my sneaky suspicion:

    The card I had was a platinum looking classic visa - that had rental car insurance, etc. $3200 @ 20.74%

    THEN, I get approved for the better terms of the GOLD GETSMART.

    THEN, I get the interest JACK on my perfect payment history. You know the rest . I closed the one and cancelled the new card at the same time.

    They were gonna make money on me one way or the other.

    THEN - I get the stupid offer two weeks later for the clear card. Pitch, crumple, rip, shred, etc,,,

    c ya :) Dogman
     
  4. Jun 6, 2001 #3
    Jim

    Jim Well-Known Member

    Re: Providian SCREW JOB?!

    Dogman,

    Thanks for your reply. I respect your decisions regarding Providian / Aria. I know that you have Nextcard and AMEX etc. so you really may not need any Providian products. Simple as that.

    From the day I received my Providian card, I have always known that this is not a card I will keep forever. My use of the card is minimal every month as I don't believe in carrying balances. However, I want the best terms available in case something changes. I have $25K in revolving credit. I owe $3K total. In a few months, I will owe nothing except what I charge and pay off every month on my 10 credit accounts plus 1 car loan.

    The $3K I owe is strategic. It is divided between my $6500 limit Nextcard which I plan to grow to a $10,000 card in a year and my GM card to get the 5% rebate and also to increase the limit on the GM card.

    If you get another off from Providian that you like, except for say the apr. Perhaps you should accept the card and then write a Planet feedback letter demanding better terms. I say this because apparently you did like to carry a balance with Providian. Something I never intend to do.

    Jim
     

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