Anyone else recieve there statement, and in the message area, recieve a warning about how they have a right to check my credit report, and if they find any info saying that i may have trouble paying them back they can close my account, suspend it, and lowering my Credit limit?? IM very pissed at this statement. I have paid 49 then 99 dollars to have my credit line increased and now they say they can decrease it? I have been at my limit the past 5 months. However have never missed a payment, i use the card alot and make big payments. I guess 2 years of loyal use and payments, means shit to them.
They sent the same thing to me and I've been with them for 3 Years and have had a $0 balance for 2 years. They are scumbags, I hope they go the way of nextcard, this animal company has been praying on consumers long enough.
For most conusmers, they hold all the cards. If you are carrying high balances with Providian you should think of paying those down as quick as possible. Imagine paying 29.9% interest on a balance of 5000. Either agree to that or we will close the card and you pay at the rate that you were before. Those are the choices they gave me and I paid that baby off quicker than a NY minute. And closed both of my cards.
They sent me aletter saying there selling my account in november. So its either going to be aspire or chase. Unless they cant sell it now. who know;s. The only good thing is they haven't raised my apr yet to 29.99.
I received the same message on my statement, and the same letter saying they are selling the account in November. They won't give you any information over the phone. BTW, I called the other day and the call went directly to the Executive Office. It is looking extremely horrible for them. I have two accounts with them. I quickly paid off one of the accounts, and the other I did a balance transfer, so I should be done "playing" with them very soon. I was trying to wait and see who they sell the account and what the new terms would be before deciding to close the accounts.
I would hardly think that they would sell the account and then give you better terms. If that is the case, plese let me know.
What I meant by waiting it out to see the new terms, is with the new cc company, not Providian. I am hoping for Chase, because I already have an account with them. I am anxiously awaiting the end of Providian!
How long ago did you receive this letter? I have a 0 balance, 16.9% APR account with them and am leaving it open because I just paid the annual fee in April and it's my oldest account...also, need the CL for ratios. I haven't heard a word from them on anything!
We used Providian to establish credit. Once we got established and were able to get real credit cards we sockdrawered the Providians. I think Providian is OK as long as you use them for what they are - a beginner company. Once you have established credit get out of the providian cards - same goes for CAP1. Neither of them care about their customers because they don't have to - they operate in a demand driven environment, not a supply driven one. By demand driven - I mean people with no or poor credit want the sub-prime cards and they can't hand them out fast enough. Supply driven like AMEX and CITI work with consumers who have good credit and won't take the shitty offers like CAP1 and Providian dole out.
