It seems that Providian National Bank who also issues the Aria and Getsmart credit cards are raising the interest rates on certain customers to 29.99%. This rate applies to all outstanding balances.
After being a faithful customer of this bank for several years and maintaining a good credit history she just got a letter in the mail advising her of this situation.
Her only recourse was to close the account and inform them that she wanted to keep the current terms 19.9% for the rest of the amount owed.
She was under the belief that as the prime rate went down or up the interest rate would be a certain percentage over the prime rate. This was not the case with Providian/Aria/Getsmart.
Since we have had this card we have paid, at certain times to get credit limit increases, which we understand might have been against the law.
These predatory practices must be stopped now.
George
Hobart, Indiana
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