Complain about a product or service

Providian

Providian • Advance Fees • Credit Repair • Destinations Unlimited • Disputed Charges • Interest Rates • Late Posting • Late Refunds • Late Statements • Promotional Rates • Credit Protection • Unauthorized Balance Transfers --- News • WaMu Buys Providian • $300 Million Providian Settlement • Providian Chairman Out, Stock Tanks • Providian Settles Class-Action Suits

Providian made its money the good old-fashioned way -- on the backs of the working poor. It built its business on what is called the "subpar" segment of the market, customers whose credit records have a few blemishes.

Only problem is, the losses outran the sky-high fees and soaring interest rates and the house of cards came tumbling down in October 2001 and by mid-2005, Providian had been acquired by the nation's largest savings and loan, Washington Mutual.

But from what customers tell us, things haven't changed much at Providian, as the complaints in this section demonstrate. Here are a few of the more recent beefs ...

C. of Acworth, GA July 25, 2009

My bank account had been garnished 5,000.00 in July 2009. Frederick Hanna and Associates for Unifund CCR Partners assignee of Providian National Bank garnished the acccount. In June 2000 the OCC issued a report concluding that Providian had engaged in a pattern of misconduct in which it misled and deceived consumers in order to increase profits. The allegation against Providian included misleading consumers about the interest rates on their credit cards and promoting a “no annual fee” credit card that carried a mandatory 156.00 annual credit protection fee”. Providian agreed to repay consumers @ least 300 million to settle the allegations in the largest ever OCC enforcement action. (Just a little background on Providian)

C. of Acworth, GA July 25, 2009

My bank account had been garnished 5,000.00 in July 2009. Frederick Hanna and Associates for Unifund CCR Partners assignee of Providian National Bank garnished the acccount. In June 2000 the OCC issued a report concluding that Providian had engaged in a pattern of misconduct in which it misled and deceived consumers in order to increase profits. The allegation against Providian included misleading consumers about the interest rates on their credit cards and promoting a “no annual fee” credit card that carried a mandatory 156.00 annual credit protection fee”. Providian agreed to repay consumers @ least 300 million to settle the allegations in the largest ever OCC enforcement action. (Just a little background on Providian)

The economic and personal damage that it caused an only be considered as a nightmare. My house was foreclosed on and my family was left with no roof over our heads. I lost my job and became an independent contractor. I also have to pay these outstanding late fees on returned checks. As the sayings go, "if it were not for bad luck, I would have no luck @ all." I can only keep my faith and hope to wake up from this nightmare. I just want the monies returned to my account.

barbara of toledo, OR July 9, 2009

i wrote prevously about providian hounding me back in 1999 they have sold this account 3 times each time the accout gets bigger and bigger. i hve tried to make payment arraingments. but they dont want payments. they want the whole thing.now a new company has contacted me they are treating to take my ssi. i need help. pleaseeee. this was settled down from 1,500 to 400.00 now this new company wants 1,200.00 i dont have that. i cant even pay my medicene.

Isabel of coral springs, FL July 1, 2009

I got Credit Card through Providian almost 7 years ago. I paid completly when I refinanced my home in 2006. Never thought about it again. Now I have been hounded by calls from collection agencies stating that I owe them over 4000 dollars. And apparently they are suing me for the amount, along with a few charges being filed. What do I do? I'm not about to just give them money that I'm pretty sure I don't owe. What can I do, please help me, I really don't even have any money at this point. Thank you much

Marian of Miami Gardens, FL June 21, 2009

I receiced a providian card back in 1999. I fell on bad times back then single mom with two kids and today still struggling. F A Management Solultions claim that Providian contacted them to place a judgement on me in 2005. My providian card limit was 5000 - the judgement placed was 15,100 back in 2005 due to interest, court and attorney fees. (Which by the way the judge only had jurisdiction to grant up to 15,000)

Today, the amount is 20,000 due to the judge granting 7% interest to be accrued. I contacted the company to get the debt paid - at least 5000 because I don't own anything thats worth 20,000 - in fact thats my annual salary. They refused and want me to pay 13,000.

My question is how could a 5000 (years ago) credit card be that much. Where is the line drawn on how much a consumer can be charged for a bad debt. I think this is outrageous. If I was unable to pay that amount then how could I beable to pay triple now. I was never contacted by this company for the debt. They just let it sit to accrue interest.

Timothy of Round Lake Beach, IL June 8, 2009

I got what I thought was a "Pre Paid" Credit Card through Providian almost 10 years ago (give or take). I had to send them 300 dollars to get it. I think I used that card for a few months. Never thought about it again. Now I have been hounded by calls from collection agencies stating that I owe them over 1500 dollars. And apparently they are suing me for the amount, along with a few charges being filed. What do I do? I'm not about to just give them money that I'm pretty sure I don't owe.

Linda of Downey, CA May 14, 2009

I opened an account with Providian in 1998. I charged originally 300.00 dollars and never charged anymore. I just finally paid off the credit card in 2008. There were always strange charges on their that I didn't understand and when I would call, no one would give me a correct answer. As a matter of fact when I called to obtain the payoff amount, 3 different people told me different amounts. I believed I gave them a total amount of 4800.00 for a 300 dollar charges. That's pretty good. I never received anything on a class action suit, but I would like to be included.

Peter of Berkeley, CA May 4, 2009

I took out a Providian insurance policy and then got denied coverage on one of two accounts when I really deserved it due to disability. They used a technicality to evade responsibility for the second account which took an enormous amount of time to try to address, and added a great deal to the emotional distress that I was already experiencing due to my disability. Despite the clearest, most detailed and impassioned appeals I made to them, they not only continued to deny coverage, the reason they gave was extremely cryptic, legalistic and unhelpful. I have only recently learned that the "Americans with Disabilities Act" requires "reasonable accommodation for the disabled." I believe that at least in this sense, Providian AND its successor collection agencies, and now Chase, have "done me wrong." They have also gone back and reported TWO accounts to the collection agencies, when there was only one in question. I believe this is fraudulent and intentional harassment. I am just now disputing this with EQUIFAX; I was too exhausted and burdened with survival and other concerns to do more than what I had already done earlier, directly with the collections people who continued to harrass me for years involving at least two or three other companies they kept selling it to. Now it has come back to Chase on my report, plus an LVNV company. I would LOVE to participate in a class action on this. Thanks for considering that. Also, my charity, the STAR ALLIANCE foundation, has suffered as well as me personally (I am prime founder of the charity.) STAR ALLIANCE would be a great nonprofit to receive any surplus settlement funds, too. THANKS IN ADVANCE!! Peter DuMont

Patrick of O'brien, OR April 17, 2009

Patrick of O'brien OR (04/17/09)
I have a credit card with providain bank. I wanted to pay off my credit card debt they refused to let me pay it off. when i told them I have gold dipping chrome that I am selling off at 40 percent discounted rate which is 40 ton of it. I don't know the value of it yet. what do I do about it when they do that?

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