Providian Credit Card Interest Hikes
Author: Damaeus
Joined: 19 Jun 2003
Posts: 2
Posted: Thu Jun 19, 2003 2:55 pm
I just got my replacement card from Providian today. I'm franky surprised they didn't just cancel my account since I was one of the ones who had their interest rate jacked from astronomical levels to etherical levels. Anyway, the notice I got said that the smart chip technology didn't catch on with merchants as Providian thought it would, so they dropped it altogether. Kind of sad, really. I thought it made the card look rather cute. But my card is still transparent, and that usually gets an "Oh, WOW! A see-through credit card!" from the cashiers.
Damaeus
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Joined: 19 Jun 2003
Posts: 2
Posted: Thu Jun 19, 2003 2:55 pm
I just got my replacement card from Providian today. I'm franky surprised they didn't just cancel my account since I was one of the ones who had their interest rate jacked from astronomical levels to etherical levels. Anyway, the notice I got said that the smart chip technology didn't catch on with merchants as Providian thought it would, so they dropped it altogether. Kind of sad, really. I thought it made the card look rather cute. But my card is still transparent, and that usually gets an "Oh, WOW! A see-through credit card!" from the cashiers.
Damaeus
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posted by CardRatings.com at 10:01 AM
5 Comments:
Author: sisflomi
Credit Expert (100+ Posts)
Joined: 07 Nov 2003
Posts: 134
Posted: Tue Nov 11, 2003 12:45 am
Providan does a lot of strange things. Add this to the list.
_________________
Sis
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Author: capepuffin
Joined: 09 Nov 2003
Posts: 81
Location: Cape Cod, MA
Posted: Tue Nov 11, 2003 1:40 am
Providian bites the big one in my book! They messed with me too much. I almost took them to court but wasn't up to it at the time.
They promised me one thing and did yet another
Still on the battlefield with them!
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Author: ET, Guest
Posted: Thu Nov 13, 2003 5:14 am
I received the letter about the raising of my interest rate like a lot of other people did. They said if I made all my payments on time for a year, they'd reduce my interest rate, which is going to end up being a little higher than it was when I first got the card, but not as high as it is now. Well, I've made all my payments on time and I haven't gone over the limit I received their letter on October 31, 2002. Let's see if they're going to hold up their end of the bargain.
ET
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Author: ET, Guest
Posted: Thu Nov 13, 2003 5:17 am
Oh, I goofed. Actually the letter I received was dated September 27, 2002. It said I had to make all my payments on time for the next twelve consecutive months (something I had not failed to do in the past, I might add) and in December 2003, they will review my credit and decide whether or not I'm eligible to receive a lower interest rate. If I am, then they'll give me that lower high interest rate starting in January 2004.
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Author: nativechild48
Credit Expert (100+ Posts)
Joined: 10 Nov 2003
Posts: 295
Posted: Thu Nov 13, 2003 7:57 am
They might seeming how they want to hold on to their customers that are performing. Some people I know have been getting lower interest and credit limit increases.
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