My story is exactly like evryone's in this report. Got online to pay my Providian Mastercard bill, and found that I no longer had a Providian account; it had been sold to Emerge. I looked up emerge on the web and found a site that was not complete and gave no info about the company.
When I received a bill and saw my interest rate went from 19.9 with Providian to 29.99 with Emerge, I called the number on the card. After holding forever, I finally reached someone who barely spoke English and said that if I kept my credit in good standing they would possibly lower the APR in one year! I closed the account immediately and have been paying this rediculous rate ever since.
I called today to ask if I paid 75% of my balance, would they accept my payment and reduce my rate. They said they do not accept payoff request and gave me a number for a credit counselor, which I do not need. I hope something can be done about this company. Also, I wonder what Providian has to say about it?
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