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

[inkyblue2.livejournal.com]

There is some 800 number you can call that opts you out of credit score-based advertising with all three big bureaus at once.

Watch out with balance transfers, too, because a lot of the time low APR offers still have a one-shot fee of ~3% of the transferred balance.

Of course, I'm sure you'll roll my eyes for saying this since you're in the land of the insane real estate prices, but rolling consumer debt into property debt is the best move in terms of raw numbers. (Assuming you're not going to default.)

[inkyblue2.livejournal.com]

Er, roll your eyes.

[skreidle.livejournal.com]

Hey, I'm rollin' your eyes, buddy.



Eyes will roll!

[skreidle.livejournal.com]

Yeah, I know about the fee, but it usually caps at $35, which is less than I pay in interest at 8-10% anyway.


I'd consider rolling consumer debt into property debt if, you know, I had a job and could seriously contemplate a real estate purchase. ;)