I just asked for a lower apr and was told No. I have never been late, paid at least twice the minimum. My friend closed her Providian account when she requested a lower apr last week. She was with them for 3 years. I was told by the supervisor that because Providian is generous with credit line increases that no accomodations would be made. They have no policy or program in place to "grant these kinds of requests." Why don't they have these programs in place? No grace period, high apr, and an annual fee - these programs are in place, and all of them are there to make money by getting the consumers to collaborate with them to rebuild credit - and when they put in years doing that the only answer is go @!#$ yourself. I say close the damn accounts and get a secure card! Think about it: We are being gouged by the very company that says it is our savior! They run up credit limits to get the high interest charge that only puts you in more debt. I have one other credit card that gives me a grace period. Because I was a good customer, they waived my annual fee after 6 months, and they lowered my apr to 16% My limit is $2500. It is like living as a decent human being. Providian doesn't care. They don't distinguish between good customers and bad. No one can get ahead with their system. Blow them off! I am. I can't take it!!! David
Providian Is Predatory and Dan David, I had a Providian Visa Classic card also and I closed it after only 5 months. Providian is utterly disgusting and get away with it because consumers continue to patronize them and accept their outrageous offers to suck you dry. The unsophisticated Hispanic market is especially at risk since they dipose so much of their income on consumption which is why Providian used to have a spanish language option on their menu (other banks don't). The interest rate is not merely high 23% but you start paying it as soon as you leave the store or restaurant with whatever it was you charged on it. When Providian offered me a $1,000 credit increase after only 3 months requesting only a $99 "finance charge" conveniently charged to my account, I thought "this is ridiculous, what are they financing? They already got a $100 processing fee, a $59 annual fee, and DAMN they are charging me 23% interest to boot!" So I gave THEM the boot. If you have a Providian card, don't contribute to their delusion that they are a legitimate institution. Pay off the card and close the damn account.
RE: Providian Is Predatory and I have 3 credit cards, a merchant account with V/MC, Discover, and AMEX, I have dealt with at least a half dozen phone companies over the last 2 years, I have accounts at 2 banks- at least half of these companies offer a Spanish language option on their damnable automated answering system. This is not evidence of predation on an unsophisticated market, but rather common sense.
RE: Providian's New Get Tough I have not had any problem with them at all. They have sent a gold card with a $6000. limit after only 2 years and when i called them to lower they APR they did it without any problems. It went from 23% to 18.9 so I feel that is a great difference. they have always been very good with increases too. of course I always pay more than is the min. each month and never late.
RE: Providian Is Predatory and Providian is no better now than before they got hit with several class-action lawsuits and investigations for the Oh-it-was-just-a-computer-glitch late payment scams and other dishonest business practices. I think the idea of making the customer pay for a credit line increase is completely ridiculous. Presumably the are going to make more money factoring the mercahnts and collecting finance charges from the customer. It's just greed. They still won't tell you what your interest rate is going to be when you apply for a card. You have to wait for them to 'evaluate' your credit, but naturally they tout their lowest rate in the largest print in the offer and then in microscopic print in the disclosure state that it 'might' be higher based on your credit history. I got a Providian Card in 1996 and I couldn't get a straight answer out of them about the interest rate even after I got the card, so I just cut it up, unactivated, and sent it back to the with a scathing letter about what I thought of them. They wanted me to send them another credit card statement showing what rate I was paying so they could match it. What crap! I just got it pulled off of my credit report three months ago, even though I never legally accepted the account. That doesn't seem to stop them from checking my credit file every month as a 'promotional' inquiries. There's about 17 of them on there. These are not the inquiries that a creditor would see when they pull a report, so I really don't care. They are just icky. Stay away.
RE: Providian Is Predatory and Sounds like Providian is slowly returning to their old self. Just what we need another CROOKS COUNTRY BANK. Hell I thought one was enough. I guess we should all beware of the old Providian practices.
RE: Providian's New Get Tough I also have a Providian card. I have had it since 1996 without one single problem. I called them regarding their interest rate & they lowered it(16%) as well as waived my annual fee. I also do not pay for credit limit increases, but do receive generous ones. I have never had a problem with customer service they have been polite & most helpful. Providian provides products to not only subprime, but prime customers as well. Many of their decisions regarding whether you pay for an increase or what your interest rate is, etc. is based on your credit history. I'm not saying it is right, but this is how the charges are determined.
RE: Providian's New Get Tough I agree. I'm certainly not a sub-prime customer, and I've never had any problems with Providian. I have their Platinum Premium card with a 16K limit. I pay no annual fee, have a generous grace period, and have an APR of 9.9%. Of course, my credit is stellar, my balances are paid in full each month on all cards, and I've never had any derogatory information from any creditor ever. I think these types of things make all the difference...
RE: Providian's New Get Tough Oh really David D?!?!?! Well, my mother had a 20K platinum card with Providian, and when hers expired, they refused to issue her another since, and they basically told her as such, she paid all balances in full every month. In essence, they wanted to make interest off her and couldn't. She has stellar credit. Sometimes that DOES make a difference, now doesn't it?
RE: Providian's New Get Tough David, same here. I moved mine from USA I had my daughter on it with me, and she did get it up there. But USA would never acknowledge they evern received the payment she had sent them. And slapped a late fee on and some other compounded things that made no sense to her. I didn't know, I was leaving her alone, she said she could pay it and to stay out of it so she would know what she had spent and pay it. I just didn't realize they would do that. neither did she. Sio when I found out I was angry with USA and I closed it. Before closing I moved it to Providian, and USA told me that I had a late fee on no monies. Well I was steamed. I closed they took off the bogus late fee. They are leaving my acct. open so I can re-establish it if I want to are they crazy or what. Then Providian who promised lower rates and such did the vry same thing. I paid them fatefully every month $300. and I could not find it going down. They gave me a 3.9 Introductory, and never allowed me to bring it down. I lost my money and when I moved it it was $1500.00 higher than it had been. I went to MBNA my rate is like 14 now it was 25. Providian needs the attorney General to look into their unethical practices. The guy I talked to at MBNA said if it wasn't fraud they are commiting it is right on the line. Everyboody should do a class act on them and get re-embursed their stolen money.
