Pull a fast one on PROVIDIAN?

Discussion in 'Credit Talk' started by USCWAP, Mar 27, 2001.

  1. USCWAP

    USCWAP Guest

    I've been reading about people that have been calling their credit card companies and trying to close their accounts because they got better offers. What, if any, action does Providian take when you try to do this? I'm thinking of gleaning information from these posts and calling them posing the same queries to see if they'll raise my limit, lower my interest or drop their annual fee.

    Anyone?

    Sign me,

    overly curious
     
  2. Michael

    Michael Guest

    Re: Pull a fast one on PROVIDI

    Providian will lower APR, and rebate annual fees, they may raise your limit.
     
  3. sam

    sam Well-Known Member

    Re: Pull a fast one on PROVIDI

    huh?

    I actually no longer go through the lies very much any more.
    this is effective.

    1. Call their retention # directly.
    2. Explain you are a valued customer, and see if they can do anything for you.

    You'll get the same response, which the computer tells the phone monkeys, yes or no.

    I gave up the agressive lie tactic, it doesn't appear to be any more effective for companies like cap 1 ,providian etc. The folks on the other end are commanded by computers, which they can't do much about.

    I'm just like, "hi, ive been a customer for a while, what can you do. They either tell me nothing (call back next month), and here's what we can do".
     
  4. breeze

    breeze Well-Known Member

    Re: Pull a fast one on PROVIDI

    I called them today to ask them to lower my rate. The rep said a lot of stuff, like "we just gave you an increase" (my limit is 6,500) and I said, "it really doesn't help me much, because at this interest rate I'd just get myself in trouble if I used much of it." In the end, she said she turned it over to an "account manager" that I should wait and see if he could do anything, because they did value my business. I am supposed to call back in 3-5 days to see if they lowered it.

    I didn't threaten them, I just said I had been a good customer, but I now had better cards, and I didn't have to use that one if I didn't want to. I told them I was going to transfer the balance and not use it anymore.

    I'll let y'all know what happens.
     
  5. USCWAP

    USCWAP Guest

    Re: Pull a fast one on PROVIDI

    I called in this evening to the number on the back of my card and like Michael said, I bypassed customer service and instead asked to speak to the retention department. They were very polite and transferred me immediately. The gentleman I spoke with at my urging was able to lower my interest rate from 23.99% to 19.80% - needless to say I was completely pumped by this - having had to deal with horrible credit for eons and only now do I see the light at the end of the tunnel.

    He said, "Your account -definately- warrants that rate". Based on his tone of voice, I bet I could have gotten it lower than that but that's all I really asked for. I'll try again in 3 months to get it down past the national average. By then the card will be long since paid off.

    Good luck!
     
  6. breeze

    breeze Well-Known Member

    Re: Pull a fast one on PROVIDI

    Cool! I will ask for retention if the "account manager" can't do anything.

    However, I really can do just fine without using this card, hehe. They don't believe me, I think.
     
  7. T. Burdine

    T. Burdine Guest

    Re: Pull a fast one on PROVIDI

    I did this APR reduction with Providin last year, I went from that horrid 23.99% all the way to 15.9% . It took awhile, and I did threaten to close my account, and they said you've been a great customer, never late, or over the limit, we can adjust your APR . Needless to say We too were delighted.-T. Burdine
     
  8. VJ

    VJ Well-Known Member

    Re: Pull a fast one on PROVIDI

    I also got 15.9 APR about a year ago.Anyone seen lower from Providian.
     
  9. jen

    jen Well-Known Member

    Re: Pull a fast one on PROVIDI

    I got 16.9 a few weeks ago. I was very nice to the rep and just told her the truth...I didn't threaten to cancel or anything but said I was going to have to transfer because the rate was killing me. I just asked if I could get a more competitive rate. I actually like Providian. I wouldn't be back on my feet w/o them giving me a chance a few years ago. The rep was very nice. vj and T. Burdine...You both did great! I didn't know Providian would go lower that 16.9 but you can bet I'm gonna go for it now! :) I am also interested in knowing if there is anyone with lower than 15.9. Please share!
     
  10. breeze

    breeze Well-Known Member

    Re: Pull a fast one on PROVIDI

    jen,

    I'm kinda loyal to them too. I wouldn't have gotten the good cards I have if it weren't for them. But that 23.9 % is just too much. And I have earned better!!

    breeze
     
  11. keltex

    keltex Guest

    Re: Pull a fast one on PROVIDI

    Okay, I am reading your posts and getting peeved (nothing personal). I have had this card for going on two years. Yes, my credit has been crap, but these guys have always gotten paid on time, and I have made progress in the last year. I use this card occasionally. I noticed this month that my already horrible interest rate of 23.99% was increased to 25.00%!!! This occurs at the same time that other cards in the same ballpark have "lowered" my rates from 22-23% to 17-18% (hey, any little bit helps). I called about it and got the phone monkey answer. I don't want to close this card, as it is the highest credit limit card that is open that I have. Recently got a First national visa and with an 18% interest rate, but low initial credit limit. Been thinking about doing cash advance to pay providian down and then threaten to close. Did anyone else get this increase in interest rates?
     
  12. carl

    carl Guest

    Re: Pull a fast one on PROVIDI

    I called the retention number directly and the conversation took about 3 minutes:

    Rep:
    department, this is XXXX, may I have your account number?

    Me: 4013 blah blah blah

    Rep: Can I get your name and the last 4 digits of your SSN?

    Me: blah blah blah

    Rep: How can I help you today?

    Me: (slight fib) I talked to a Providian rep a few months ago and she told me to call on or around my anniversary date to checkup on my account. Well I saw on my statement here that it's my anniversary date and I wanted to see what I could do about my account?

    Rep: I see, well then what is your objective for this phone call?
    Me: Well I wanted to check on my interest rate because it's killing me ;-)
    Rep: Okay, well yes, there is an offer in effect today, we can drop your rate from the 24% to 19.8%. It would go into effect in 2 weeks when your statment cycles.

    Me: Oh that would be great! Thanks a lot.

    Rep: Well it's been my goal to treat your a a valued cusotmer blah blah blah
     
  13. jen

    jen Well-Known Member

    Re: Pull a fast one on PROVIDI

    Boy I am really surprised at the different responses people got when trying to lower rates. Keltex, did you call directly into the retention dep't? That might help you a bit. I can't believe that they actually RAISED your rate! That is insane. Keep calling and stay on them. You are a proven customer and they are the ones that have the burden to stay competitive. The retention number is 800-215-7318 in case you do not have it. I found that they were really nice and helpful. Just tell them that you have enjoyed doing business with the bank and you would like to keep your relationship with them, so what can we do about lowering this AWFUL rate? Especially since you now have other cards that are willing to work with you. I was able to also get the annual fee waived as well. You may even be able to get a limit increase if you have not had one in recent months. Be persistant and you will succeed with them I am sure! Good luck and let us know what happens. :)
     
  14. keltex

    keltex Guest

    Re: Pull a fast one on PROVIDI

    OK, Jen I took your advice. Spoke with first rep, was told that there was nothing could be done. Gave them the "I like your product spiel. Gave them a make payments and use spiel. Couldn't even lower my account back to 23! Then transferred to Supervisor. On hold a long time. Got back on and couldn't offer me ANYTHING.

    Therefore, my first national visa at 19% will be getting maxed for cash advances to pay this POS off! Was told that this had to do with overlimit. I asked when-couldn't tell me-I pressed-it was when they charged my account without authorization for a travel package-that, with interest pushed me over by 2$ in Sept. of 2000!!!!

    Thanks for nothing Providian!
     

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