I Hate Providian Financial.
I Hate Providian Financial.
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So many people have written to me about their Providian experiences that I found it necessary to create additional pages. |
From Peter S. -I ask those who have Providian credit cards to write to their attorney general, and make vigorous complaints of usury at 30%. Why not resort to loan sharks-I spoke to one of their representatives on the phone, who sound like zombies-"You can cancel your account at your present interest". I urge those who have Providian credit cards to vociferously protest to their attorneys general, and other agencies.
(Note: I received this e-mail from Peter on 4/25/2002. What Providian is doing can only be described as "chutzpah". - MB)
From Nicole -
I just wanted to thank you for have a spot on your web site that MADE MY DAY!!!
I to, recently had the "pleasure" of dealing with Providian Bank's "customer service" department & will soon be cutting up my card and sending all the miniscule pieces back in an envelope.
By the way, tell all your friends to be sure and use their Providian Visa at ALL Thrifty Car Rentals so that, they too, can receive the benefit of having their card charged THREE times for the rental and run up over its limit & not credited for THREE WEEKS after they have turned the car in!!!!! (Hey, you might get a 15% discount on your NEXT rental with Thrifty, I did!!!! Although, once hell freezes over I don't think 15% will make that much of a difference.)Boy, do I feel lucky or WHAT!!!
Keep up the crusade!!!
From Shari -
Reading on your providian experience saved me from making a possible mistake. Thank you for taking the time to educate others.
From Paul -
I was searching for Providian Bancorp's e mail address to send them a sweet letter and the first thing that I stumbled upon was your web page dedicated to the vultures. BRAVO!!!! You have hit the nail on the head. I was drawn into their tempting web of crap too and I am trying now to figure a way out.
These people ought to be put out of business. They have been ripping me off for years now. I won't bother you with the unnecessery details of how I made such a stupid move but I cannot seem to get out of their trap right now. I guess in order to protect my credit I will continue to pay the leeches what they want. Thanks for turning a sad moment in my life into a very laughable experience. I really needed the boost of your Providian web page. Thanks again.
From Ingrid -
I found your site when searching for Providian Bancorp. I recently was rejected by a credit card company, contacted the credit bureau and found out there was an error in my credit report. I wanted to contact the bank that rejected me to let them know and, I can't remember for sure, but I think it was Providian. Can you tell me if Providian is the bank to offer mileage on any airline? If it is, I'm going to scrap my search for them. I don't need the extra mileage if I have to deal with "vultures". I'm glad I found your site before I found Providian. (If they are not the company that offered the mileage, I wouldn't be trying to contact them at all).
Anyway. Thanks for making the surfing "fun" today.
From Matt -
I recently ran across your web page when I was looking to see if there was a way that I could pull up my Providian Bancorp account on-line. I must say that you hit it right on the nose. As much as I hate them, you turned it into a hilarious joke.
I owed Providian $3,900.00 out of no-where. It seemed that the more payments I was making the higher my balance was getting. To make a long story short, I came up with the $3,900.00 and paid the balance in full. The problem with Providian was they refused to cash the check for 12 days after they received the payment. This turned into a finance charge of approximately $125.00 for finance on the total balance. I was furious about this and called them and requested to have my account closed immediately. The customer service representative was kind enough to tell me that the only way the account could be closed was for me to send a letter in writing. I did such a thing the same day. Well as of yesterday, I received another finance charge from good ole' Providian on the $125.00 finance charge from the previous month because they delayed [processing] the payment to accumulate interest. So, I again called them and this time spoke with a guy who had more of an attitude than I had.
This representative acted as if it was all my fault and he was tired of hearing complaints that morning. Needless to say, I asked why the card had not been canceled and why I was on being charged again. I don't have to explain to you what kind of answers I received from this JERK, but I did demand on the phone that I wanted the account closed and to never attempt to contact me again.
Following my request to close the account, he had the kindness in his heart to offer me a decrease in my interest rate. That is when the words that a preacher would not use came from my mouth. I asked how could he offer me such a deduction in interest rate, when for the previous 6 months on every month I called and requested a decrease in interest rate, and was denied because paperwork had to be processed.
How did he get such the authority to do it over the phone without any paperwork? After argueing for approximately 15 minutes with him, he then told me to recite my SSN# and then said your account is closed and hung up on me! What a bunch of jerks.
I, too, am a yankee like yourself which I refuse to apologize for. I did make him well aware of my yankee attitude!
Thanks,
From Robert -
Excellent website for a real purpose. Brought joy to my eyes, after dealing with Providian's customer service regarding their unauthorized charge of $15.52 per month for three years to my account. They refuse to provide a refund, even though they admitted that "Home Protection Concord NH" does not exist and it is really a Providian company. Check your bills close and send a written objection to these charges immediately. Pay off and close your Providian accounts, it can't happen too soon.
From "Pissed off in Arkansas" -
(Of course it's not his real name, but it does lend a bit of oomph!)
This is in response to your page about Providian Financial. I agree--they surely do suck! They did not send us a bill either and the wonderfully sweet people on the other end just couldn't explain how our address got mysteriously changed on their computer and then blamed this change on us saying that any information that they received had to be from us. On more than one occasion, our payment has been late due to a problem with the "U.S. Mail" and not with them. I did inform them that Paul Revere was not bringing the mail in the 1990's and that I was almost certain that my payment had gotten to them by either a plane, train, or an automobile and I was also certain that it did not take any two weeks to arrive there. They were quick to inform me that they did not make any money, depite the $29.00 late payment fee, if I did not send my payment on time. Go figure that one out! I learned alot while searching the net about Providian and at least I am not alone out here getting my blood sucked by these assholes!!
From "Big Mike from Texas" -
I too have been shamelessly violated by those Providian bastards! Starting with the "welcome to Providian" interest increase of 4.5% to the ever popular $29 late fees. Those late fees seem to come as regular as the bills! When I questioned this the last time it happened, I was told I should mail my checks 7-10 days before the due date! How do they get their mail? By carrier pigeon? If you aren't a current customer of these bloodsuckers, they quietly moved up the TIME for crediting your payments from 12:00 noon to 10:00 a.m. Now who on God's green earth can get their mail, process each and every payment received that day and credit all of the accounts by 10:00 a.m.? NOBODY! In essence, your payment is due the DAY BEFORE it's printed date! They are making a killing on these late fees and exhorbitant rates. Their customer service people are certified assholes and they have absolutely no interest in serving their reluctant customers. Just a quick look on the net will tell you we are not alone. Great site by the way.
This came without a signature, but it made my day.
Kudos on this!!! I will be closing my account this afternoon-enclosing a copy of other outraged customers comments from your web page.
From Kristine -
I just happened to come across the Providian page and believe me- I am a sucker also...I have never had so much hatred for a financial institution in my life and I'm hoping to be rid of them before the year (or my husband comes home from Bosnia) is over...it's a downright shame to be associated with that company and I have had many a problem.....
(Note: Having to deal with those leeches while her husband is serving in the Balkans is a double whammy. I hope everything turns out ok for her. - MB)
From Forrest -
I had a credit card issued through Compuserve (I forget which bank) in order to charge my online services (AOL, Compuserve, MSN, and a local internet provider). This bank/card was bought up by Providian and I was issued a new card. So far, just a typical bank acquisition. Right? Wrong.
Well, I began to get the standard offers, "Cash this check for extra cash or to pay for things you want.". Again, seemingly typical credit card offers. However, none of the checks or accompanying literature mentioned annual percentage rates or transaction fees. This made me cautious and I did not use them. The phone numbers to inquire about these offers was only a pre-recorded message, no chance to contact an actual human and ask about the rates.
I then got another mailing with more checks to pay off my other credit card balances. But this one was a shocker! These checks were pre-printed with my other credit card company names and had attachments which indicated the approximate balances! A rather agressive marketing strategy which I am personally uncomfortable with.Around the same time I began to get telephone solicitations from Providian congratulating me on my new Providian card and trying to get me to accept a Platinum card with much higher limits. They immediately began asking me questions concerning my current income which I politely declined to answer. I very quickly terminated the call.
All of this has made me very suspicious of Providian, their methods and tactics. I am about ready to terminate this card because of their agressiveness.
It appears that my experiences with Providian are falling in line with what your other correspondents are reporting.
From "JJ" -
Boy, did I ever relate to your Providian page! We got a Visa from them to rebuild our credit and guess what happened? You guessed it! The by now famous $29 "late fee".
I seem to recall, somewhere in the distant past, a time when a postmark was actually the measure of whether a payment was on time. If any of you suckers decide to open an account with them, you may want to just send an extra $30 a month (until they come up with a new "fee" that is).
From Angie -
I just wanted to thank you for the web page on Providian Bankcorp. I had just received their credit "rebuilding" offer today in the mail. I was looking them up on-line when I came across your web page. [I] think you saved me from a horrifying experience. By the way, their one-time processing fee is at "$89.00" now, not $49.(Note: $89 instead of $49? Providian wouldn't be getting greedy now, would they? )
From a "current but incredibly wary Providian card holder" -
(Edited for brevity. - MB)
Another comment from another Providian "customer," since 11/97, when I needed a credit card and had very a poor credit rating. A perfect Providian customer, in other words. I haven't thankfully experienced much of the angst and violation you and others have had, but I can see the slippery road I may be on. (I was alerted to the situation at Providian in yesterday's Chronicle Business Section, about falling stock prices in the wake of possible consumer fraud--perhaps there is justice in the universe yet.)
My word of warning, to folks who've opened up a "secured" credit card with Providian. If it's been a few years since you've opened up your account and you've been good (i.e., on time with making payments, not going over your limit) with the card, you CAN request that your savings account be closed, they return the money to you, and the card becomes "unsecured" (welcome to the grown-up world of credit now). However, Providian does nothing to let you know in advance of this option, like reviewing your credit history and refunding the money in your savings account. If you've been good, you can also negotiate that APR down from 23.9% (what I was being charged, igads!) to a more tolerable 16.3%.
I have a major problem with another tactic that is not mentioned in comments made by you or others: Providian will review your credit history and grant credit limit increases, coupled with a $17 fee! You basically have no say in whether or not you want the increase or the fee--Providian explains that they have the "right" to do this, without prior notice or approval, it's in my credit agreement. I have asked them not to grant further increases, thus saving myself from the additional fees. The fee to increase my credit limit infuriates me, and I see, from your web page, how it's part of the larger plan to suck as much money out of customers as possible.
.........Thanks again for the page and all the useful information. Providian will get what it's due, one way or the other. Hopefully, if the allegations hold true, customers will also get their due, in the form of a class action lawsuit!(Note: See above. - MB)
From Steve -
I just wanted to say thanks for your insight on Providian financial and the credit card offers they send out. I recently received an offer for the 23.99% interest rate card they offer and was online looking for more information about the company before I applied for their card. Now that I read your page, I am happy to say I've changed my mind.
THANK YOU!!!!!!!
From Mike -
I too just realized I have been screwed-over by Providian National Bank when I received my first statement. It appears that Providian does NOT have a grace period which means they begin charging interest as soon as I charge on my account! Also on my statement appears charges for Credit Protection at a rate of $12.95 a month, which I was not aware of.
You see, after activating my card, a representative contacted me and asked me 5 or 6 times if I wanted credit protection. Each time she asked me, I replied with a "NO". She just didn't seem to want to take no for an answer and I explained to her that if I had to pay for any type of credit protection then I wasn't interested in the card. Well, here I am, I have my first statement sitting in front of me. On it there is a charge for credit card protection along with finance charges (no grace period) on purchases I never even had a chance to pay off.
Providian does not want to reverse these innappropriate charges. This is unacceptable! I work too hard for my money just to see it thrown out the window. Providian has deceived me in the worst way, and with that in mind, I do NOT recommend them to anyone! I'm paying off my balance, sending them a close letter, and tearing up the credit card! Anyone who has a credit card by Providian should do the same!
From Darlene -
Oh My Gosh! I can't tell you how glad and upset I was when I saw the sight dedicated to Providian Financial. Glad to know that your telling people about what a bunch of sorry people they are and upset to know that what I thought about them was true.
I recently received a credit card with a $1,000.00 credit limit. I had filed bankruptcy approximately a year ago and me and my husband wanted to try to rebuild our good credit that we lost due to loss of job. Well they offered us a credit card and we accepted ( worst thing we ever did). Anyways, every month I send my payment in on time and mysteriously a late charge appears on my monthly bill, because of the late charge being added, it puts me over the credit limit and they can charge an additional 29.00 for the over the credit limit, that they caused by the way. So when I make a 50.00 payment I'm usually about $9.43 over the limit because of late fees, over the credit limit fees and interest which is 23.99%.
They're raking us over the coals and there is nothing we can do about it but try to pay it off or get another loan (which will be hard because of the bankruptcy) to pay it off. Thanks for listening and letting me get out my frustrations. I hope that something gets done about them and I hope they can't trap anyone else in this scam!
Thank you.(Note: My contempt for Providian is growing day by day because of letters like this one. - MB)
From Sherridan -
You are absolutely right about Providian. They have assessed charges and fees on my account that are so secret that the CIA couldn't find them. They raised my interest rate to a level that no self-respecting knee-breaking loan shark would charge.
I would even discuss how they've swindled my 77-year-old father. Providian Financial should pay for its tactics. They are criminals.
My story is similar to the others on your great web page. They applied a one time 'mystery' charge from Avis Rent-A-Car (for a transaction that I handled in cash, although I used my Providian Visa as the rental deposit) that immediately threw my balance $400 over the limit. Needless to say, my regularly scheduled payments did not cover that, and that's when the fun began. Four months later, I am still paying and with every statement I have another secret late fee or over limit fee. I am just going to tough it out and pay them off as soon as possible, although the company has never adequately explained what the fees are for. It's sick.
These people are crooks and I'm glad someone is finally standing up to them.
From Kirby -
Here's another Providian story...We have excellent credit. They offered us a life time rate of something like 8.99%. We transferred some other credit card balances to it. After something like 90 or 120 days I noticed we were being charged something like 21.99%. I called and they explained that transferred balances not paid off within the specified time went to the higher rate. Yes, it was in their fine print. Shame on me. I usually read more carefully. OK so far. So I decided to take another card offer that came in the mail and close out Providian. We weren't sure exactly how much we owed, so I gave the new company an approximate figure. I called Providian and told them to close the account. The customer service rep agreed to, even though normally they want this in writing. When I got my next Providian statement, turns out we had overpaid (the new card provider had overpaid) by $12.41. So we were credited that much to our account. Luckily they provide those checks at the bottom of each statement. I wrote a check to myself for $12.41 to zero out the account (which Providian had agreed to close) and deposited it. End of account...
Not quite!
The next month I received another statement from Providian. This time it showed the $12.41 "cash advance" (money they owed ME) with a $5 charge for the advance AND (can you believe this?) a 4 cent charge for the interest I had accrued on the $5. Now I OWED THEM $5.04!!...for getting MY money. I called them and cussed them out (literally). They cancelled(?) the $5.04 and cancelled(?) my account - so they say. The phone conversation was only 3 days ago. I wouldn't be surprised to see another statement in a month with some other charge, perhaps a "service" charge for closing my account.
From Bob -
I was slapped with $29.00 late payment fees (on payments made and received 9 days to two weeks prior to the due date) three months in a row. The first month they even posted the payment on the billing satement 9 days before the due date and STILL charged a "late" payment fee. I filed a complaint with the Office of the Comptroller of the Currency. Is it possible that Providian indiscriminately charged the $29.00 late fee to All their cardholders and only refunded to those that called to complain? Forbes Magazine is doing a Providian story as well as KRON-TV in San Francisco. The San Francisco law firm of Girard and Green is filing a class action .415-981-4800
The Providian stockholders should sue for their losses, especially if the Providian executives are indicted for fraud by the SF District Attorney.
(Note: Maybe we could stand across from Providian's SF headquarters at 201 Mission St. and watch the rats abandon the sinking ship. - MB)
From Jo -
Just thought that I would add to your list of satisfied customers from the wonderful Providian Financial network. My husband and I recently decided to end our financial headache and get rid of all our credit cards, one of them being Providian Financial. Though we have not experienced some of the same headaches some of your readers have I have a new one for you.
In March of this year we sent two large payments to Providian to pay off our two credit cards; one of them we did not even apply for - it was sold to Providian from Bravo, a subsidiary of Discover. To make a long story short Providian applied both payments to the same account and has so far refused to transfer the credit from one account to the other so that our account will be paid off. Also, they won't send a refund because they say that it has to go through payment research to prove that is where the money was meant to go. Until this is done they will not transfer my funds or send us a refund. I have learned that this procedure can take as long as they want it to take; so far three months. Meanwhile interest keeps accruing in the account waiting to be paid off and if payments are not made on time they will assess a late fee.
By the way, my accounts have been closed since March.
(Note: Who's the CEO of Providian anyway? Franz Kafka? - MB)
From Jim -
We just got our great Providian credit card recently. No annual fee or activation charges but there was a charge of $20 for a second card. First bill came; $20 + $12.95 for credit protection which I immediately called and complained about and was going to send them back. I was told that with no annual fee they had to charge for credit protection. After arguments, they upgraded my card and the charge would be only $7.95.
Ok now I send the $32.95 on the 10th of April, due 16th at Pittsburg, 200 miles away. [The] May bill comes today, credit $32.95 4-19-99. Of course $29 late fee so I have a balance of $29. So next month will charged credit protection.
These people need to be put out of business and their assets, if any, be distributed among the people they have screwed for years.
We were so pleased to find this web site while searching for Providian.
I am not publishing the name of this contributor for reasons that will be obvious. - MB
Hi there.. My name is (name witheld). I just got thru with reading your website about Providian. First thing. I dont want my full name printed on your website if you post this ok?
OK, I have the displeasure of taking the applications for these ba$tards. Before you start booing and hissing, I am going to explain this. I work for a telemarketing company in Nebraska. We take calls for 5000 other companies and products, so with every call I get I dont know until the phone beeps in my ear, what product/service I will be representing.This week we started to do something else for Providian. We became customer service. Altho, for the life of me. I cant tell how we are helping anyone. All we do, when we get a call on the customer service line, is ask the caller for their account #, and then ask them what their questions are. We have a list of about 17 different answers for specific questions. (none of which really answer the callers questions, it all looks like bs to me, but I still have to read it WORD FOR WORD to the caller because I am required to) I noticed tonight (first night I really had a lot of calls for this) that most of the people calling in, had paid their processing fees (blood money) they had received their cards, but guess what? They're not activated, (in other words, worthless) and the callers were being told in a letter that they haven't paid their processing fees (altho most callers told me they gave their credit card numbers or <gasp!> bank account #'s to pay the process fee when they originally applied). And then, as most of the callers so cheerfully informed me, their cards had an expiration of 8/99 (its 5/99 now!) But I am being told on my info box that the callers (even the ones who already paid the ransom) have to wait 3 MORE weeks to get the card activated. This is so disgusting.
I was really hoping this wasn't going to be like another company we took applications for last year (Ever hear of the Revolution Mastercard? They were Revolting <pun intended>) When people call and apply (yes people are still applying) we cannot tell them what the apr is, if there is an annual fee (there is) unless we are asked directly. I just feel so disgusted with this whole thing. So much I feel dirty every time I get off of work. I just felt like venting how I can't stand this nasty company.
Most of the companies we take calls for are pretty reputable. (well, there was that William McCorkle guy in Florida who was selling some get rich quick scheme.. I think he was the only one who got rich tho... At least he got put in jail for it...
Again, please DON'T put my name on your website. I am going to quit my job as soon as I get another one. (going to go apply at some other places after Memorial day, I wonder if the Mafia is hiring... )
Thanks for letting me vent the frustrations. (I am frustrated and I don't even have a providian card <thank gawd!>)(Note: Of all the e-mail I've received, this was the most poignant. No one should have to endure this crap just to earn a living. I hope this person succeeds in finding a better job. -MB)
From Bob P.
Thanks for your great website!! I too had a providian visa with a 1000.00 limit. On the first bill of 189.99, I asked what the 7.95 fee was for and they replied "credit protection". I told them to remove it and they said it was mandatory to keep the account open. I told them to close the account at once, which they did.
I paid off the balance, in full and was charged a 25.00 late fee, and a 7.95 protection fee. I sent the money in when I got the statement, and they said it did not arrive on time. so to sum it all up, I paid a 59.00 annual fee, a 25.00 late fee. and 7.95 Credit protection fee. They refused to refund any of the fees, and said If I did not pay them they would report me late on all three credit agencies.
In short I paid over 90.00 for the priveledge of using their card for one month. Thats over half in interest and fees. It is nothing short of blackmail. You should know that I own a retail store, and have had the joy of telling anyone who presents a Providian card for payment, all about the bastards. Thirty two people to date have cut them up!!! I will continue my crusade till the day I no longer accept cards.
Thanks for all your hard work!!!(Note: Kudos to Bob for taking the initiative. - MB)
From Theodore -
I visited your website after an accelerated research on Providian Financial; my experience has yet to begin: my wife ordered their service through their offer of low APR and I could not believe that she gave the credit card number over the phone. We have excellent credit history. She was contacted by a sales rep that asked her if she wanted our current credit card debt (about $800) with First USA transferred over - no transfer fees. She declined the offer, explicitly saying "no" to the offer. So we get mail 2 days later thanking us and informing us of the transfer that will commence on June 2nd, transferring our debt from First USA to Providian Financial although we did not authorize it! I wonder what is the best thing to do at this point, we are both very much stressed out by what we read on the Internet. Very shocking. I wonder if we should pay off the First USA debt over the weekend by means of debiting our bank account and in effect zeroing the amount of money Providian will be transferring.
We've already contacted First USA and asked them not to permit any such transfer, but they said that although it'll be in their computer system some negligent customer service representative might overlook it. This is double shocking.
(Note: After responding personally to Theodore, I received the following from him. - MB)
My latest addition to this Providian business is that the news from my current credit card, First USA, is not so good. They have no means to stop the transfer from occuring, even though I offered to pay off the debt immediately and even proceed with closing my account! I was told by First USA that once closed, an account cannot be charged but it can be credited!! What kind of logic is this? I was advised to contact Providian on this, I told them that is an oxymoron since I am trying to prevent Providian from screwing me over although they are aware of what they are practicing. Again thank you for your page and content, you can find some more info at http://consumeraffairs.com/credit_cards/providian_national_bank.htm ; there are 2 pages worth of amazing testimonies.
From Sue -
I've recently come under the gun with these so called Providian "customer service" people. First off I would like to say that it is virtually IMPOSSIBLE to even get the right phone number to contact someone. Providian bought my Bravo card. Trying to get a hold of someone who has a human voice is hard. I tried for 3 hours in one day and all I received was a complete run around. Dial this number dial that number...WHAT NUMBER??? After I finally got a hold of someone they decided they couldn't help me. I tried making a settlement. Giving them half of what I owe. NOPE. Don't even try this with them. My account has been closed for a year mind you, so I can't run up a bigger balance than it is now. Wouldn't hear of it. Meanwhile interest rates are running up like crazy on my card. I recently made a large payment (with the help of parents) hoping that would help, but no. How can a bank issue late payments on a card that is no longer active? So being a 26 year old female, living on my own, it's hard to make payments. So to get back at them, and virtually wreck my credit rating, I will file credit card bankruptcy. Just so they get off my back.
From Barbara -
I came across your page by using "Providian Visa" as my search term in Alta Vista search engine after I got a letter screaming "YOU'VE BEEN PRE-APPROVED" (for a WHOOPIE $300 account . . .) from Providian today.
Thank you very much for saving me a lot of money. I put the letter in the trash.
Great page!!
From "A Credit Friend" -
Did you read the account agreement before YOU ASKED for the CARD?? You do have a choice you know!! If you don't want something...don't ask for it!!! It is plan to see that you must have been a HIGH RISK customer to receive SUCH a HIGH rate like 23.9%. This doesn't mean that you have bad credit. It does mean that your credit profile may have some flags that say "If you have an unforeseen emergency (Like a death in the family or an emergency expense like car repairs) that some of your other bills may suffer. This my friend is a RISK to loan out more money to someone who may or may not default on a loan. This is not to say you would default, but the bank cannot know for sure. If you were the bank lending out money or a VISA card, I'm sure your opinion would change. Don't blame the bank. Providian does target HIGH RISK customers, that's who they want. Other banks would turn HIGH RISK customers down for a credit card, but PROVIDIAN does assume a customer will make good on they're account. To take that risk they (Providian Financial) does charge a HIGHER interest rate, just in case the customer does in fact DEFAULT.
If you want a lower rate then YOU and ONLY YOU can make that happen by not being a HIGH RISK customer. This is just one point of view I could be wrong...but I don't think so!!
YOU ONLY GET WANT YOU APPLY FOR IN A BANK CARD...FROM ANY COMPANY!
GOOD LUCK IN THE FUTURE.
P.S.
Always READ the account agreement (including the fine print)
It is every consumers responsibility.
(Note: This is a "friend"? I hope he (or she) is athletic. I wouldn't want him to get hurt while jumping to conclusions. -MB)
From "TT" -
Well, you are probably bored with the misdeeds of Providian by now, but here it goes...
I too received a generous "preapproved" secured credit card offer from Providian --one I am sooo glad I did not respond to. Actually, I have received about 5 or so, but I finally decided to read the disclosure on the back of the offer and I was flabbergasted at the audacity of the offer! They had the cajones to "offer" me a card after sending them $200 for a "savings" account, a $25 (generous it seems) processing fee and then charge me a whopping 23.9 % interest charge on MY money!!!!
I could hardly control my laughter as I promptly binned the junk mail!
I feel sorry for the people who were taken in by this usurous(sp?) institution , but I can't believe no one has sued them before now! Some of the practices outlined in those letters are just plain criminal! Unfortunately we are entering an era where usury of the less fortunate is making a comeback as bankruptcies continue to proliferate in this country. We see this in the upsurgence of title loan companies and advance check cashing facilites that charge ridiculous rates to people who can't afford them.
If you have a poor credit rating, it's not the end of the world! You CAN live without credit and if you can't there are other, more reputable companies that can help you rebuild your credit.
I can't wait to see Providian crash and burn!
From Andy -
Over a year ago I started receiving offers from Providian. At first I just threw the offers away. After about the 10th offer I guess I saw the low interest rate and got hooked. I sent off for the card. Here is where the story gets interesting. My credit is impeccable, I have never been late on ANYTHING. Well Providian rejected my preapproved offer. (Thank God). The reason was too many inquires into my credit history. Well I sent off for my free credit report and lo and behold I did have a surprising number of inquires into my history. About 20 of them all by Providian. Not only are they crooks, they are a bunch of stupid crooks. Thought you might be interested in this tale of ineptitude
From Ron -
I just wanted to thank you for you fine efforts to expose Providian National Bank. Did you know that Providian doesn't even loan money? They create a bookkeeping entry on the asset side of their books when you use your account. Recording the receipt of an asset from YOU! Then they use that asset they recorded to supposedly loan you something. They never actually loan you anything but that which was recorded as received from you. In other words you are the source of the supposed loan. They are never out one red cent and everything that you pay them is pure profit.
I took them on in State court charging them with fraud. I was able to keep the case going in State court for over a year, just little old me, pro se. However, The judge was protecting them all the way. I sure wish I had found your site along time ago. It sure would have given me some ammunition to get the judge to stop protecting them. Every motion I filled was filled with reasons the Judge should have made them answer my questions. They never once were made to answer the fraud charges. They eventually got a summary judgment. I am happy to say I did my part to expose them for the counterfeiting theives that they are and have published the case online.(Note: Here is the link to the site. I assume no responsibility for its contents. - MB)
http://members.aol.com/rmckin6412/liberty/speech.htm
From Karl -
Great website, full of truth! I just got screwed too! I sent a overnight postal express payment to Providian on July 1st, my payment date is July 6th, it is July 13th and still has not been posted! Nobody knows where this payment is, even though I tracked the mail to the destination, I was told to "not worry" that they indeed received the payment on the 2nd and that I would not incur a late fee, that because of the "holiday" it may have been slow in posting... I call them today to see if the acct posted to get a message saying that my payment is late and that I must make a payment by July 26th!! I was then told that I must send this mail to another address, the runaround is too much to mention!
I will delete this acct ASAP!!(Note: Looks like the Spanish Inquisition is still going on. - MB)
From Roberta -
(Because this is an actual letter to Providian regarding an ongoing process with them, I have made every effort to protect the correspondent's privacy and still provide you with necessary information regarding Providian Financial's attitude and tactics. - MB)
Providian National Bank
295 Main Street, Tilton, NH 03276
(603) 286-4346
(603) 286-2413 (fax)
Attn: M**********
Ms. *********;
RE: ACCT # XXXXXXXXXX
On or about June 24, I called your establishment to VOLUNTARILY close out my Savings Account and use it to pay off my Credit Card Loan that I also have with your institution.
I spoke with a gentleman by the name of B******** who informed me that after this transaction there would be a balance of around $6.57, which would simply be billed to me.
Today, July 12, 1999, I received a letter from Providian dated July 7, stating that my Savings account had been "seized". It also states that I have 48 hours to make the payment before I incur "escalated collection efforts" and that it I can stop the "further damage to my personal credit history" and "additional" collection efforts.
I immediately placed a call to the 800 number listed (1-800-803-9641) and spoke with a woman by the name of 'S****'. This woman insisted that it was not a voluntary act on my part but rather a bank seizure precipitated by non-payment on my account. She was both rude and unhelpful in every way. I repeatedly asked for a Manager and she refused to let me speak with one. She hung up on me when I asked her name and what location I was calling into.
I then placed another call and got a representative that was both professional and helpful. (T **** ID# XXXXXX) She confirmed for me that the representative from your institution indeed had made a mistake and promised to rectify it immediately. I am currently awaiting a call from a manager to tell me exactly how that will be done.
This is not an ordinary time in my life. I am attempting to pay off as many debts as possible so that I can insure a homeowners Loan. Whatever you have done to negatively impact my Credit History, I expect to be reversed immediately. Furthermore, if you are at all interested in your customer's
satisfaction, the Customer Service Representative that initially spoke with me should, at a minimum, be reprimanded and given remedial training. She is definitely in the wrong job. I am appalled that in today's financial market that someone like that is allowed to represent your company and further
alienate your customers.
Please insure that this matter is corrected immediately. I await your response.
(Second letter from Roberta to Providian. - MB)
July 13, 1999
Today I did not receive the promised call from a manager so I called back and spoke with a gentleman by the name of L**** (X***). I explained the situation to him and was informed that this matter 'if' found to be in error would not be resolved for 60 days!
I was also informed that in this 1 day time period the balance due was not 6.57 anymore- now it was $29.00!
He also informed me that he was going to send this to the research department but if I had any intention of calling the Executive Offices (1-415-222-8000) that he was not going to do anything.
I am so outraged at the treatment that I have received and lack the of interest in correcting an error made by your representative. Many things hang in the balance as a result of your error, including a student loan for my son. I expect this to be corrected immediately- not in 60 days.
Thank you in advance for your assistance,
(Note: Rude, inconsiderate, tactless, insulting, threatening, and abominable behavior. Just the things we've come to expect from Providian Financial. - MB)
From Deborah -
I just wanted to thank you for your time and effort in the anti-Providian movement. You are proving that the Internet can be a real advantage in making people's lives better. I received my "$25.00" offer from these shysters yesterday, and thank goodness I saw your net page while I was researching it. I think you just saved me from some serious anxiety! (Yes, I shredded the offer.) I hope that the people who are sparring with them now come out on top.
Again, thanks...
From Robin -
Thanks for the tip. I held the invitation in my hand until the fourth paragraph. Then, as it slipped from my hand into the wastebasket, I groaned. How could I have even considered another credit card??? I just paid them all off, my husband and I are nearly debt free and talking about taking our travel trailer, (paid in full) and hitting the road full time to "clear our heads". Babyboomers, we got caught up in the rat-race and now want a more fulfilling "later years". Glad to know there are folks like you out there, to bring us all back to reality....
From Dan -
I have been a Providian customer for 8 months, and while I have been treated courteously, seeing how Providian has treated other hardworking Americans, I'm cutting my card up immediately and contacting Citibank.
(Note: Hello?!?!? Providian!!!!! Are you listening????????? - MB)
From Steve -
I was once in their clutches too! it was a few years ago and I had forgotten until I recieved a letter from them stating.....get this!!! I was turned down!!! I have an unblemished credit history as far as I know!! (I have requested credit reports in light of this recent refusal by your friend and mine!) It wasn't until I came on-line to search for a toll-free number for them and found your site that I remembered my past experience with them!! If anybody reads this or sees your site and still goes ahead and starts doing business with them...they will deserve what they get!!
I originally got my card with no application fee and things went well for awhile but when I went to close the account and transfer my balance to a lower interest card things became annoying to say the least! I kept recieving statements from them and they told me my account couldn't be closed for a year!! Now keep in mind this is an account with a zero balance and no fees...they just wouldn't let go!! I am SO glad that I found your site and remembered what Jerks they were before I pursued this any further!!
Thanks for speaking out!!!...I heard ya!
© 1998 - 2002 Michael Baram
