I Hate Providian Financial.
|
|
From Brandie -
On Sept. 6, I received a letter saying my account was being closed as of Sept. 6. The letter states that "after a review of my overall credit record they decided to close my account.” It claims the reason to be "You have one or more credit accounts that is/are currently delinquent, or show a major derogatory event(such as having been charged off or at least 60 days past due) within the past 6 months."
The letter listed an 800 number to call. I spoke with them and they could not provide any other reason for the closing. They said I could try and call Providian. A friend of mine as well as my husband received the same letter. I pulled my credit from a website to double check. I have no current delinquent accounts.
I called Providian and they also were unable to provide me with any information. They said call the 800 number. I have read about the company being in financial trouble. I do not need the card, but they should provide a legitimate reason. They are trying to shift the blame to consumers rather that taking responsibility.
From Brian -
I have also received a letter stating my account has been close because of “one or more credit accounts is/are currently delinquent, or show a major derogatory event within the past 6 months.” I watch my Equifax credit report very closely and I know this is a crock of sh@#. After getting the run around on the phone, one of their customer service reps told me that Providian is in trouble and that they maybe closing…but he said he could not confirm this…it was just what he heard. So, I don’t know if he told me that to get my off the phone because I was yell[ing] or what?
(Note: If Providian does go belly-up, I doubt if I will shed many tears. Will you? - MB)
From Goran -
I visited your site this morning (Sunday, Sept. 15, 2002), and was inspired.
You managed to inspire, through your story on your running and working out, to your entire section devoted to Providian and it's evils. Actually, this is what originally lured me to your site. And, this is the reason for me writing you this email.
I have had a Visa and a MasterCard from Providian for close to three years now. Obviously, things aren't going so well. I have managed to build a combined balance of roughly $5000. With their downright abusive interest rates, I am like a rat in a maze.
I wrote them an email prior to visiting your site. I asked if there was anything they could do for me, like lower the interest rate. I mentioned if they cannot help, I would have no other option than to seek help from another financial institution of go for debt consolidation. I am awaiting response... Hopefully, with all of the shit they're in, they will hear my plea and do the right thing.
I guess my question to you is if you have any definitive answers or tips I should know about. Any suggestions would be greatly appreciated.
(
Note: I'm honored that Goran has been inspired to make a life style change after visiting my other page. BTW, Providian told him they couldn't help him. Does this surprise anyone? - MB)From Robert
I am a victim of credit card fraud. I received a credit card statement from Providian the first week of August, 2002. I had not used that card for at least 8 months prior to receiving the statement. I called Providian immediately and cancelled the card. I was told that it would be assigned to the fraud department and that they would send a form for me to sign. I heard nothing from them. The following month (Sept. 2002) I received another statement from Providian with an additional charge that was not on the prior statement. There was also a previous charge that had been reversed. I have been in contact with their customer service department many times. I have spoken to the fraud department and they transfer me back to customer service. Their credit department is now calling me for past due payments. I cannot seem to get this resolved. I have talked to customer service managers who assure me the matter will be taken care of. I have been promised by customer service persons that it will be taken care of. Yet the nightmare goes on. I do not know what to do or who to contact. My concern is that this will be reported to the credit card bureaus and affect my credit rating. Providian assures me that it will not. I no longer believe a word I am told. Can you help me? Point me in the right direction?
Thanks
"Frustrated in Kentucky"
From Gary -
Thanks for posting all the feedback regarding Providian. I have also been screwed by this company. Over limit charges, harassing phone calls, as many as four a day, a 29.99 per cent interest rate, and unanswered requests that were mailed to this company certified mail.
I have filed complaints with the Better Business Bureau in San Francisco and the Tennessee Department Of Consumer Affairs. I also contacted The Office Of The Comptroller Of the Currency (OCC) , they were not very helpful. Their representative advised me that it was ok for Providian to contact me three or four times a day. It is ok for them to charge $35.00 over the limit fees . It is ok to charge $35.00 late fees. It is ok that they raised my interest rate from 18.99 per cent to 29.99 per cent as long as I received a notice fifteen days prior to doing this. (The burden of proof is on me to prove the interest rate increase notice was not mailed to me). And I was told that Providian should have no problem providing me with a history of rate increases and a copy of my original card member agreement. It has been two months since I requested this information and I am still waiting. Thanks OCC! For nothing!
From Tony,
Thank you for being a real hero and true American by helping to inform people about this predatory company. Due to sudden illness, my wife and I had no choice but to file for bankruptcy last year. Now, we are trying to get back on our feet and re-establish our credit. We were delighted when Providian offered us a credit card with a low interest rate and no annual fees. I soon suspected Providian was one of the “problems” within our current corporate business climate when I noticed them delaying the posting of my internet payments by three days – no doubt to float the interest and increase the likelihood of my being late so they can assess their $29 late fee. I was absolutely astounded, however, to receive a letter from Providian on 10.07.02 informing me that my “low interest” credit card was going to have a rate increase to nearly 29%, with absolutely no explanation! Mind you, I pay my card early every month and apply well more than the minimum amount due each time. The letter contained two phone numbers – one to call if I did not wish to accept the rate increase (Duhhh…no, I don’t wish to.), and a second number to call if I wished to know why they were increasing the interest charges (Duh again – I know why… Because Providian is a slippery, callous company that is run by greedy, heartless individuals whose only purpose is to scam as many people and steal as much money as they can, as quickly as they can, without regard for anyone but themselves!). I called the “I do not wish to accept” number and was greeted by a woman who sounded like a machine. She informed me that she would register my position with Providian and have them send out a letter to me indicating why they were implementing the increase. She said the letter would arrive within 30 days. Well, I’m not waiting around 30 days for a letter. I’m taking action against these jerks. Are you aware of any class lawsuits in Michigan? If not, I’ll be glad to get the ball rolling here. I would appreciate any info you can provide. Companies like Providian, that practice this type of “hard-core capitalism”, and unfortunately they are in abundance these days, are what are wrong with America. They are part of the problem and need to be exposed to the light of public scrutiny which you offer, Mike. Whatever happened to the principals of honesty and integrity in business?
(Note: I'm far from being a "hero". I'm just happy that I've been able to provide a venue to allow others to voice their frustration with this firm. As for "honesty and integrity", they're still there. The vast majority of businesses are honest and straightforward with their customers, but it's a small minority that gets the publicity. True capitalism is based on giving the customer the best product or service for the lowest possible price. What Providian is doing is not "capitalism". - MB)
From Kevin -
I found your site while [re]searching ... my problems with Providian. In brief, without notice, the vultures hiked my interest from 16.99% to over 30%. To my regret, I have not been able to make myself keep up with payments. I have offered repeatedly to resume payments if Providian would set my account as it was. Of course, they will not do this. I know this ruined my credit (the reason I accepted a credit card to begin with), but I will not bow to this strong-armed thievery. If you know of any recourse for me in this matter I would like to hear from you.
(Note: Outside of suggesting a lawyer or Consumer Credit, there's not much I can do. I have no legal authority, but there are links on the first page that might prove helpful. - MB)
|
From Nancy -
I was trying to find a website that would help me find out if it's legal for Providian to close my VISA account with 1 days notice (I got the letter the day before they closed my account) when I stumbled across your website. I wish I had seen it before I got 2 cards from them.
Not only are they charging me 29.9% interest every month, but they won't even give me the courtesy of telling me why. And now to add insult to injury, I just got a letter today (December 17, 2002) telling me that as of tomorrow my credit limit on my MasterCard has been lowered $300. This after I've already gone [over] the "new" limit Christmas shopping, but was still well under my "old" limit.
There aught to be a law against this kind of business practice. If there isn't, I'd like to know who I can contact to enact one.
The sad part is that I got both of these cards 3 years ago as a way to clean up my credit. I paid them every month; most months the entire balance. Then they tell me that they're lowering my credit limit because of my credit report. Didn't they already know my credit history when I applied 3 years ago? And believe me, it's much better now than it was then.
What gives...I'm FUMING!
Thanks for listening. Is there anyone out there who'd like to sue Providian...I'm in. Maybe a class action lawsuit.
Merry Christmas and a Happy New Year!
A few days later I received another e-mail from Nancy -
.... I got my newest statement from Providian today and they informed me that my interest rate will be going back down to it's normal rate and I would be credited any overages I paid to them in the last few months when it was up to almost 30%. Obviously they got on the bad side of some lawyers and had to make a hasty retreat. Sometimes the little guy gets a bone.
(Note: It's about time we got some good news from Providian. Congratulations, Nancy. - MB)
From Marilyn -
As you may or may not know , one's credit score is lowered by inquiries in excess of two in two years. I believe Providian's unsolicited inquiry for my credit report cost me a drop of ten points. I have since then applied for a line of credit. The lender informed me I had been eligible for a home equity line of credit at 3.75 APR with no closing costs but the loss of those ten points make me no longer eligible. I will now have to pay all closing costs and 6.75 APR.
Perhaps someone reading this comment has had a similar experience. How did you overcome the problem?
Sincerely,
Bullied And Cheated, But Still Hopeful
(Note: Perhaps it's a good idea to check your credit report and find out if Providian is pushing the issue in an effort to trap you. - MB)
Whoa! This is from the source. Wake up and smell the coffee, gang.
From Catherine -
I work in accounting. I am very familiar with policies.
Providian HOLDS payments and then post them late so they can charge you the late fee and the over the limit fee when they make your account go over with their late fee.......If you call and curse at them enough they will reverse the charges.
Then they will punish you by saying you paid late even though you have your check dated 15 days before the payment was due and a[n] envelope with a postage meter stamp proving you mailed it 15 days in advance.
THEN, they have some freak call you from a call center in India or Pakistan who cannot speak English.... by the way, if you did not know, rich Arab men in India and Pakistan own part of Providian hence the weird name and financ[ing] [on] your card...... so ALL and I mean ALL your info is accessible from their call stations in INDIA and PAKISTAN. NICE, HUH?
THEN, if this all is not enough when you go to PAY OFF your account and close it they fight you. Then they verbal[ly] abuse you by saying you have horrible credit and [that] closing your account will hurt you more, and then they insult you by further saying how you can't get a credit card anywhere else because only they service people with bad credit who do not pay thier bills...
PS I have an American Express Blue ! I had bad credit due to a divorce years ago.. Shows what those FUCKERS know!
| First page. |
© 1998 - 2003 Michael Baram