PROVIDIAN NATIONAL BANK CREDIT CARD RIPOFF OUTRAGEOUS INTEREST CHARGES OVERNIGHT SELLOUT TO EMERGE San Francisco California

Received September credit card statement and noted interest rate had been changed to 29.99%. Telephoned and asked why. Told a letter was sent to ALL CUSTOMERS IN APRIL 2002 stating if they did not close their account, the interest rate would be raised to 29.99% in Sept. Said I never got that letter. Husband has an account also. He never got that letter.

Closed account, wrote Providian a letter and stated only an idiot would accept those terms of interest. Got a letter back out of San Francisco stating they were sorry I was upset. Still have not received $89.00 credit on account for yearly membership fee, charged in September, and which, I was told with my cancellation, would be credited back.

Next correspondence was from Emerge MasterCard, sending me a new credit card on the closed account with terms of 29.99% interest, and no credit for yearly membership fee. Providian raised interest rates on all accounts, thus elevating their value, and sold them to Emerge.

Have written back to Providian, Emerge, and the Federal Trade Commission. Would suggest anyone out there with a 29.99% interest rate, and who also did not get that nonexistent letter changing terms, to write to the Federal Trade Commission with their complaint.

Diana
Anderson, California