I am reporting this not to say not to get a credit card but beware!
I was a long time card holder with this company and paid my bill every month without any problems always on time and always more than minimum due.
2 months ago I noticed that my interest rate went from 8% to 27.9% This was a shocker so i called Providian and asked the lady why the interest had gone up. She replied "you did not pay your payment last month"
which i responded back that I had paid it and had the reciept to prove it.
She then told me that there was nothing she could do.
I then asked her to get a supervisor and she told me that the supervisor would tell me the same thing. So I said ok and good bye and started to look into it a little further. Well come to find out i had made my payment but it was a day early for the billing cycle and they had applied it to the previous month.
With that i called back in and informed another lady of what happend. She responded, " we're sorry but that is your problem and there is nothing we can do for you so you will have to keep making your payments at the higher interest rate for 6 months and then then we can bring you back down to a 15% rate. Then i told her that i will just pay the card off and cancell my account and then said goodbye and to have a nice day.
2 days later I managed to get the cash up to pay the card off and according to the bill my payoff was $XXXX. XX well then when i called them back to make the payment I asked what the pay off was to make shure the amounts were the same and she came back with a price that was $169 higher than the normal pay off. I asked her what was with the higher price and she told me it was the interest for that month. I told her it was the beginning of the month and there should be no interest, and that i would not pay the extra $169 only the payoff that actually was needed.
With that said she got angry and said "You will either pay the extra plus the payoff or we will call the collection agency right now and report me so that i could pay the payoff plus the extra interest the collection fees.
Make a long story short I had no choice but to pay it off because I pride myself on my good credit.
In conclusion i payed the whole balance plus the interest and then cancelled the card well at least i thought. They said they closed the card but then 2 months later i recieved a statement to an account that i thought was closed.
So credit card users BEWARE. These people are rude and uptight and will bend you over backwards to make a even bigger profit from you!
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