I to have a filing with FTC against Providian Financial. My wife and I both had active accounts with Providian and had R1 credit with them, Providian jumped are interest rate to 28.9% and said they sent us something in the mail that gave us a choice to opt out and cancel our card and pay the balance on the existing rate. The problem was we never received this so called letter. We only had 30 days to respond. Providian is not budging, we closed our accounts and will need to do an equity line to pay of the balance. Basically it is one on those deals we they get you to transfer you balances of existing credit cards and then once you do so they raise your interest rate with out giving you a chance to stop it.
FTC filing #2617121
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