I has a Get Smart Visa card issued by Providian Financial. I had a $5500 credit limit. I made payments on time and had approximately 1500 to 2000 credit left. All of a sudden I received a letter stating they were reducing my credit limit, no reason, no nothing. Soon, I received a notice stating that my account was being changed to an Emerge Mastercard.
Now my interest rate is 29.9% as opposed to the 19.9% with Get Smart. Now I can not get the balance to come down because my payments are so high and the interest rate is out of this world. Virtually, nothing is coming off the balance because all I am doing is paying finance charges. This is the most outrageous company I have ever dealt with.
You can not get anyone in their customer service who knows anything. They just give you a runaround and never try to solve the problem. They are really taking advantage of peopele.
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