providian

They claimed the people who got their rates jacked had items on their credit files that made them "high risk." When it comes down to it, they basically are trying to get more profits, becuase their company is very financially unstable at this moment. I did see something interesting on cardweb.com's monthly commentary noting that providian reopened their "aria" line of cards. Maybe they are gaining their power back in the credit card market. I just applied for the Providian Smart Visa card the other day (I dunno why, I guess I'm addicted to getting new cards, lol) and was approved for their Visa Premiun @ 9.99% fixed APR. If they jack the rate on me, I WILL cancel it though. They have been nice as far as customer service over the phone so far. I'll update in a few months about how satisfied I am with the card. I also notcied it didn't cost me the 9.95 to pay online like some people were saying. Maybe this is because I have the Premium card. Still, that's bull and just another way for them to inflate their profits. Hope this helps answer your questions. Any more questions, feel free to email me or respond and I'll post back. Thanks.

-Matty

 

I really can't say anything bad about Providian. My first card with them was a Gold Visa with a $1000 cl @23.99% APR and a $59 annual fee.

Three years later that same card has a $5k limit @16.9% APR and I get the annual fee waived every year. Not the greatest of terms but they're acceptable for now.

 

My annual fee should hit next month, did you just call the regular CS number to see if they'd waive it? Or PF? Just curious, mine is $89 (post bk) and I'd be happy if they just lowered it, but waiving it would be great. Thanks for your help.

Newstdt

 

I recently closed my "getsmart" account because they would not waive the annual fee this year, but waived it the previous two years. Bye bye.

In addition, just yesterday I receive a form letter from Providian (that I almost did not read because it looked like junk mail) that informed me that they plan to raise my interest rate to 28.99% as of the November billing period. I'm not accepting that. And I loved the part about "if you make 12 monthly payments on time we'll lower the rate" to another rate (that is still much higher than my now current rate). I was super po'd and closed this account as well. This makes me very angry - I've never been late and always pay way more than the minimum due.

Oh well, it's done, it's over and I'm providian free.

 

My Providian gold was just upgraded to Platinum. The interest rate is still to high at 18.99% but it was higher. Also, the card has no annual fee and they bumped up the CL $500 to $4700.

 

You can get your annual fee waived only by talking to retention. regular cs and supervisors are useless.

they seem to proactively be able to waive annual fees for several months out.. if I remember right... if your annual fee is 3 mos or more in the future you'll have to call back. they can refund fees and interest for up to 6 mos retroactively.

 

Do you have a phone # for retention?

 

No. Before I accepted a Providian card, Providian sent me a pre approved card offer for no float period and an annual fee every month for about 18 months. Finally they sent me a pre approved offer for about 21% interest, 3000 CL, no annual fee, and a 25 day float period. My point was they do have better cards. I probable got my latest increase because I left my Providian card at zero, opened two other cards, maxed them out and paid them off.

 

I get my fee waived by faxing a letter to the CEO's office every year and it works. I've never been able to get the fee waived through a CSR or retention.

I was also able to get my APR lowered by writing to the CEO. Must be my voice!

 

I got the same letter today. A few months ago, they reduced my credit line on this account. Then I get this letter, "We're raising your APR to 28.99%".

I called them immediately and said, "Close it and I'll keep my current terms". After they reduced my credit line, I only had $187 available anyhow. Screw them. My APR is currently 16.9 and they thought I was going to take a 18% increase?

As soon as I close on my house, I'm going to my credit union and getting their 11.9% APR card and closing all Providians....THE NERVE! I've never been late on this card and I've had it for 3 years.

 

I WAS DENIED 3 TIMES...F.I.C.O. 685-714!!!
Wife 2 times...F.I.C.O. 685-741!!!

I thought they were FOOLS!!!

 

I keeping hearing about customers with excellent payment histories getting their APR jacked up. I've had my VISA for 3 years. It has been never late or over the limit and it has a 16.9 APR. Right now I'm at 70% utilization.

So from what I've been hearing I better get ready to BT at a moments notice. There is no way on this earth that I'm going to pay 28% on a credit card. Hell, 16.9% is bad enough!!!