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 ...

Juella of Marysville, CA August 19, 2008

Juella of Marysville CA (08/19/08)
I closed my account being they jumped my APR up to 31%, then I just so happen was late with my payment of 69.00 the told me I owed the payment plus another payment and 2 late fees of 39.00 each and the minimum payment is 205.00, I had called and one of their supervisors had told me they would take off the late fee of 39.00 and just go ahead and make the monthly payment of 69.00

so now it is way out of my range and what do u do @ this rate u will never get it paid off. my card is without being used maxed out @ 2000.00 and now is @ 2085.00.

stressed being I have always paid this credit card on time and now this is happening after working so hard to get my credit up to being good....

Jackie of Vacaville, CA August 7, 2008

Jackie of Vacaville CA (08/07/08)
I consolidated all of my credit card debt and student loans with a lower interest personal loan in 2006. I called Providian and closed the account after they cashed the pay off check. It was several months later that I started getting calls from a collections agency. I refuse to pay another 467 dollars for an account I was told was closed and had a zero balance.

My credit is in the toilet. Quite frankly, I do not have 467 dollars to pay off the debt and am so upset about this the only thing I could do was send a cease and desist letter along with letters to the credit bureaus. I was told that basically it will be on my credit report for another 7 to 10 years.

Daniel of Gray, TN July 7, 2008

Daniel of Gray TN (07/07/08)
The named above Company has said it bought a debt from PROVIDIAN Bank 11/29/2005 which said I owed.I supposely received this line of credit on 12/10/1999 in the amount of not known but when sold it had a balance of 7913.67. No one in there right mind would offer someone that amount when i had a BANKRUPCTY Discharege in JAN1999 for over 50,000 dollars. Theree is something teribly wrong here.

Credit is damaged, cannot get any documentation showing where I applied for this line of credit, porfolio is a overbearing self serving group of A.. h.... I need help.

Joe of Boynton Beach, FL June 19, 2008

Joe of Boynton Beach FL (06/19/08)
This is great! About 4 years ago, I got a Providian Mastercard. After realizing that they were screwing me I paid it off and closed it. Then, they sent me a 75.00 deactivation fee, I paid that. So I should be done right? Wrong, now 4 years later I'm getting mail and phone calls from debt collectors stating that I still owe the full balance of my card from 4 years ago! What is going on? Now, I have to dig up my paid receipts from 4 years ago? Who saves all that crap for so long?

I had to work for everything I own. My family came to this country with nothing. I've work my way through college, became a homeowner, and trying to live the dream. Now my credit is taking a hit because of this crap. Credit is the most important thing in life. Without haveing good credit, your life will be hard and making it will be hard. These days, employers look at you credit score before hiring you. Having said that, does everyone know that one late on your monthly payments will drop your score 20-40 points! But being on time on everything for one year increases your points by almost nothing!

Teresa of Morrow, GA June 18, 2008

Teresa of Morrow GA (06/18/08)
I was told by this person that I am being sued for 2556.45 on a visa card that i got in 2001. The card was canceled around 2002/2003. I made two payments of 600 EA and they are still saying I owe them. This is interest only and I don't beleive I should have to pay these out rageous charges.

I am feeling threatened by them that they will garnish my wages and has coerced me into making automatic payments from my checking account which I can not afford at this time which will cause me to get behind on my car payment and my childs medical insurance.

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