Providian Financial Corp
Providian Financial Rip-off Fraudulently increased my interest rate without prior knowledge

I had a credit card account with this company since 1999.

I never was a day late on any of my payments to them,

Then all of a sudden in october of this year 2002 i

Recieved a letter informing me that my account was being

Closed and transferred to another agency named 'card

Service center'. I wasn't really concerned at the time

Because i had planned on paying off the account in order

To get myself financially prepared for the purchase of a

Home. I am a single mother and this has been my goal for

A couple of years now.

Anyway in november of this year i recieved a bill from

This credit card center and my interest had gone up to

29.99%, i was so upset i called to find out why this had

Happened and was infoprmes that providian had contacted

All of the consumere accounts that they had xcdecided to

Close and let them know that the interest rate was

Increasing to 29.99%. I recieved no such notification, my

Interest with providian was 16.99%. This is outrageous.

They also told me that the reason they decided to close

My account was because after looking at my credit report

I was a risk to them as far as paying off my account with

Them. This is nonsense. At this time i did the smart

Thing and requested copies from the reporting agency that

They claimed they contacted and the last time that they

Looked into my credit was october. They decided

For a year after that (and had also increased my credit

Limit) that i was a risk, never been late with them or

Anyone else, how can they do this to me? Is this legal?

Now all my payments are going to interest. I pay $104 per

Month and $100 goes to interest, i will never get this

Paid off. Can someone let me know if this is legal, i am

So upset, you do the right thing and this is how you are

Re-payed. I would be willing to take legal action against

Them if someone is willing to take my case, i have the

Proof that i was never late on any payments and that my

Debt ration has not changed since opening this account.

Company: Providian Financial Corp
Country: USA
State: Texas
City: Arlington
Address: P.O Box 99604
Phone: 8003560011

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