When i first received a Providian Visa Card, the interest rate was 23.9%, but since i was trying to establish credit card use, i signed for the card, in the beginning, my credit line was $700.00 then a short while later, they increased the limit to $1700.00 There were no problems with the account, except when i signed up to use their web payment site, i get a letter from them stating my account was past due, and i was being charged a $29.00 late fee. I called a customer service rep, and told her i paid the bill online, she transferred me to the web site department, and the lady noted that i had went into the web site, but did not verify payment, and removed the late fee, 2 months later, same thing happen, only this time, they charged the late fee.
Evidentally my card expired in November they charged my account $79.00 for the renewal, which is outrageous then in January i get my bill and tucked inside is a small card, entitled "Important notice of changes to your Providian account agreement."
I'm sitting down to pay the bill on their web site and i read this statement, in it, it said it was amending my Providian account agreement to increase my APR to 29.9% because they checked my credit in December, and their decision to change aaccount terms may have been based in whole or in part on information obtained in a report from the comsumer reporting agency.
It seems funny to me that they charge me a renewal fee, then a month later, they increase my APR, and tell me i have an option of paying this rate or close the account. I had paid off two cars, and not been late with any payments with them except the afore mention incident, (and i wonder who's fault that was.) I have other Credit cards and the interest rate has dropped or remained the same.
It would be interesting to know, if others have experienced the same ripoff techniques of Providian National Bank.
They also have offices in Texas, California, Manchester and Tilton New Hampshire.
Teresa
Galloway Ohio
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