While searching another consumer info site, I found the following:
"My credit card company, Providian, has attacked my credit rating. Providian faked a case of fraud against me in order to place inquiries on my credit report, which significantly lowered my credit score.
This happened in March of when Charles of Providian Fraud Department called me and told me a $300 charge from Hampton Inns of Florida would appear on my Get Smart Card at the end of the month. He asked me if he should send me a new card with new numbers. I took him seriously and agreed to the new card.
Not only was there no charge from Hampton Inns, but two inquiries were placed on my credit report. This to me is intolerable and shady business practices.
I found out shortly thereafter that the money I was sending to a relative for my Mother's funeral expenses was denied by Providian as a cash advance because it exceeded the daily limit. Again, a credit inquiry was placed on my credit report.
I know this may sound like small potatoes to you all, but it is my life on the line. I want you to add this complaint to the file here in the hopes that someone may be helped by my experience."
So for all of you who pay on time, and can't figure out why your "credit rating has suddenly gone bad" or "your account has been sold for being an increased risk", etc., etc. Now know how your credit rating has been affected. The more inquiries on your report, the lower your score. This is why Providian sells your account. They lowered your score with their fraudulent fraud reports and inquiries, thus increasing your APR.
By the way, here is a reply to that report.
"Report this to the comptroller of the currency.
Providian got in a lot of trouble a couple of years ago and paid some heavy fines. Part of the settlement with the Gov was to promise to stop doing the things they did to you. They have not stopped. Providian preys on people with either NO credit or Poor Credit. (They also get some ordinary people too) Pay off their card and close the account as quick as you can.
But do file a complaint."
Providian's history is well known. This tactic isn't.
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