WTF! Providian reporting as Sec. CC

Discussion in 'Credit Talk' started by hurricane5, Aug 29, 2001.

  1. hurricane5

    hurricane5 Well-Known Member

    Just got my Providian card ($300 for $49) it to get away from the Cap 1 only club...on Privista, it's showing up as Too New to Rate, but under the narrative section it says "Secured Credit Card"...

    I'm going to call them in at 9AM to get this thing figured out..if they are going to show this acct as secured, then I will be closing it at 9:05AM

    How is this supposed to help anyone build up their credit rating? I have to find my paperwork for this thing, but I'm sure it didn't mention anything about reporting as as secured card..

    Anyone have experience with this?
  2. sam

    sam Well-Known Member

    Well it is a secured card, what did you expect? Cap 1 is cool in the fact they don't consider it secured, but i suppose thats not 100% truthful.
  3. R.

    R. Well-Known Member

    If your experience goes like mine, with the first limit increase offer you get they will include the bonus of changing to unsecured reporting. I never looked at my reports back when I first had my Providian and it was reporting as secured, but since getting that offer I've never seen any notation on that account. At least on the consumer reports it's indistinguishable from any other card. I have this feeling that behind the scenes there's something else going on, but it's not worth worrying about.
  4. doodyhead

    doodyhead Well-Known Member

    where can I apply for a providian card? Of course, I won't be applying till Dec. But I am curious?
  5. danrs

    danrs Well-Known Member


    I had the same deal with Prov, 300 for 50 secured. After my 5th month, and without responding to their offer of increase, 500 for 100, I called and told I wanted to cancel. Told them I had just discovered card was being reported as secured on two CRA's, and it wasn't doing me any good.

    Long story short, I got a free 1K increase, got the card unsecured, and my deposit refunded.

    Good Luck,

  6. MartysGirl

    MartysGirl Well-Known Member


    If they don't wish to work with you.. I would say go with FCNB. They Do not report your card as secured and it doesn't cost $49.

    Good Luck

  7. Om

    Om Well-Known Member

    I just found out that mine is also showing as secured.($50 out of $2500 WTF?) It only show secured on TU for me though. I called them about this maybe three weeks ago and the customer service lady said that there was nothing she could do. Being as the card is close to maxed right now I will wait for a month or two until it is paid down and then get a bit more pushy.

  8. Cadillac408

    Cadillac408 Well-Known Member

    I also started with the Providian Gold Visa for $49 for a $300 line. Yes it does report as secured but hey, I needed a card so it was a start. I'm not concerned about it right now because the notation of being secured on my reports hasn't effected me in any way. I've still received other cards and a car loan.

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