When I was 18 years old I started my credit with a Providian Financial Visa. I was always on time with my payments and had no troubles paying off the balance.
After a few years and some purchases for the home Providian contacted me saying they could easily transfer the balances of my other cards over and that the interest rate would be much lower! Soon, I found out that this was a blatent lie.
A balance of 5,000 dollars was quickly skyrocketing. I was paying 200 dollars a month minimum trying to keep the interest down. I missed a payment one month and I received numerous harassing phone calls.
They stated that they would not work with me and I needed to call a credit management agency. They called me at night and on weekends. The phone calls would not end and to this day I will not give out my phone number if I don't have too.
Needless to say I started college and tried to work with them. I called wanting to talk to a manager and finally I reached one. It was the same man that had been calling me at all the odd hours and threatening me. My balance has since been reported to a collection agency and has increased to around 8,000 dollars. That amount is from interest rates alone. Did I mention there was a charge for all balance transfers? Luckily I will be graduating soon and will be able to give my attention to this matter. My credit isn't ruined by this experience but it has made things difficult. I pray that this company gets sued or goes bankrupt. Everyone should tell their friends the evils of this! Don't let it happen to you!
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