• Report: #311672

Complaint Review: Providian Financial

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  • Submitted: Sunday, February 24, 2008
  • Last Posting: Sunday, February 24, 2008
  • Reported By: — Nashville Tennessee
Providian Financial
providian.com Nationwide U.S.A.

Providian Financial Bank jacked up interest rates to 30% without my knowledge, even though I pay bills on time Nationwide


1Author 1Consumer 0Employee/Owner

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I have been with these guys for years and pay my bills on time. However they decided to raise my rates without notifying me or giving me a reason why. They raised my rates to a whopping 30% default rate which knocked me over my credit limit and so I then got an over the limit charge. These guys are part of Washington Mutual and control/own a lot of these other credit card companies.

I found out that the credit card loan sharks can do this now even if you pay your bills on time, thanks to some really bonehead legislation passed by congress a few years ago. They obviously got together lobbied and bought this law, even though we have a Democatic controlled House and Senate. I havge been emailing my representatives to get something done.

And yes other credit card companies are doing the exact same thing. THey can just base it on a credit score which can be bad even though you pay all of your bills on time. THis really really sucks and if any lawyers read this and want to sue, count me in

Dhand
Nashville, Tennessee
U.S.A.

This report was posted on Ripoff Report on 2/24/2008 7:20:04 PM and is a permanent record located here: http://www.ripoffreport.com/corrupt-companies/providian-financial/providian-financial-bank-jacke-x7555.htm.

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1Author 1Consumer 0Employee/Owner
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#1 Consumer Comment

There may still be a chance to go back to the old interest rate

AUTHOR: Faron - Houston (U.S.A.)

SUBMITTED: Sunday, February 24, 2008

You are right, this crap is happening on a daily basis, however, the credit card probably sent you notice in your bill, but you may not have noticed it. One thing about these jacked up rates is there is a window of opportunity to revert back to the old rate. Call them up and find out when the opt-out clause expires on this rate hike. The only catch is by opting out, you are closing the account and cannot not charge anythng else to this card.
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