What is the best way to close a Providian Visa and make sure it is closed as well as the credit report saying closed by consumer? I ask because I don't trust Providian at all. I want advice because when I close this account I want to bury it forever!
First pay off the balance Cutt up the card Draft a Letter, stating that you would like the account closed at consumers request. And that you would like to have the account stating as such. Send the letter Certified Mail, to prevent excuses. Good Luck,
I closed a Providian Visa by phone a couple of years ago. Still had a small balance at the time. I can't recall whether they sent a confirmation letter stating the account was closed at my request. However, my report does report the account as "closed at consumer request" with a zero balance (I paid off after I closed the card). You could call them by phone, most creditors will state that they will send you a letter confirming your request and that the account is closed. However, if you do this, you should request that they send you such a letter, especially if Providian does not offer on their own. I would also get the name of the person you speak to and the date and time of your call just in case. I didn't request any documentation when I closed my Providian, I was just lucky they handled it properly. When I close accounts now, I know better and make sure I get something in writing.
Best way is to tell them you're going to close your account if they don't give you no annual fee , grace period and credit increase.. They will close it right up quick for you!!
I agree with the call. Don't waste the letter and stamp. And DON'T send a card back through the mail. It's too easy to interceot and piece the parts back together and use the number. Just call and request it closed AFTER YOU PAY IT OFF. Tell them you want a comfirmation letter from them confirming that the account is closed, in good standing and is to be reported to all three agencies as CLOSED BY CONSUMER. They will do it and send you the letter.
To Judy That's a point I never admitted. Even closing the card there is still the matter of the balance. I knew I had to pay the balance but did not acknowledge the lack of value in closing the card with a balance. I called retention to ask about closing the card with a balance and if the terms would be the same, and I received another offer for an increase! I can't believe these bastards and their carrot and stick approach! THEY WANT YOU TO GO INTO DEBT AND EVEN COLLECTIONS, THEY DON'T CARE. I took the increase to help my credit to balance ratio and credit score. My reasoning is it will take to the end of this year to pay off my balance. But not one more charge on the card - these CREEPY bastards are history!
Re: To Judy Rufus, If I were you, and I didn't want to use the card anymore, then I would cut it in hald put it in an envelope and put it in a drawer somewhere, until I paid it off. Then close the account. Here's my thoughts. If you close the acct. while you still have a balance, they are most certainly going to raise the interest rate to some ungodly amount like 25%. What would have taken 6 months to pay off now will take one year. Don't give them the extra money. Just don't use the card anymore and when it's paid off, close it then. If you have paid a yearly fee during that time, ask them to refund the proportionate amount back to you when you close it.
