Providian = bad!

[skreidle]

For the last several months, I've been getting mail from Providian, urging me to apply for their card and transfer my balances over there--0.00% for the first 6 months -or- 3.99% fixed on transfers, then 9.99% (variable). Great for transfers, pretty good regular rate--I have 7.99 and 8.99 on other cards, and ignore any offers over 9.99% anyhow.

Christine was leery, though--not due to anything negative she'd heard, but because she hadn't heard of this company before. So, before I considered them further, I asked Google about providian credit. And lo, what should over half of the first ten results be, but "predatory," "desperate? think twice", "Class action," "offer stinks," "proposed settlement," "consumer protection," and "consumer complaints!" Quality!

Yeah, I have a trash can full of Providian advertising now. Wonder if I can convince them to stop sending them?

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The rain looks like it's clearing up! (Huzzah! Weather.com seems to show it's moved on!)

Comments

[skreidle.livejournal.com]

Perhaps you were lucky, unlike the people who missed one payment and got jacked up to almost 30% APR. :)

Now, what I'd like to find is a credit company who will extend my limit (along with a good transfer rate) enough to cover both of my outstanding balances--or about $13K combined.

[alacrity.livejournal.com]

I of course have no idea what my APR is, though. I don't carry a balance. I did need a few thousand dollars to buy my car last year when I was unexpectedly in the car market again, but fortunately I was able to use some of my nice low APR (interest defered, no less!) school loans to take care of that.

[skreidle.livejournal.com]

Heh.. I'm quite cognizant of my APRs, since I do carry a balance, and have occasionally transferred said balance to get better rates and whatnot. As soon as I can afford to pay off my balances, I will--I was paying off the motorcycle purchase $1K/mo at a time, but got laid off after two months of that and had to cut back. :P

[blistex.livejournal.com]

My mom is one of those people. Acually, hers is 32%, and I can't figure out why she doesn't cancel the fricking thing.

[skreidle.livejournal.com]

Oh my god.

There is no reason, none, to keep a card like that. If your credit is bad enough to deserve it, you should already be cutting the cards up; if it's not, it should be -easy- to get a better card.

32!? That's almost 2.7% per month!