Providian Credit Card rip-off deception internet

I was a card holder for 4 years with Providian. I had established a $10,000 credit line. Never late once. In July 2002 I sent in a payment of $4,000 leaving a $1300 balance. When I got my next statement my $10,000 credit line was reduced to what my balance was. They took away over $8,000 in credit.

Then the next month I looked at my bill and it said avaibable credit 0. I called them and was informed my card was cancelled and to cut it up. I asked why and they said they did not have to disclose that information and had the right to cancel at anytime.

2 Months later I looked at my bill and I had a $1300 credit limit..called them and they said it was never cancelled although I have a letter saying it was. Then was told they went bankrupt and sold my account. I called the new company and they said I still owed the money...and claimed that they never went bankrupt and I was misinformed. Yet I had credit with them. The new company still says its Providian.

I also had another providian Get Smart Card and that one was also cancelled and a new company owns it. They however still kept me cancelled and want the money anyway.

If in Fact they have gone bankrupt why do I have to pay? Also what are they doing taking my $4,000 then lowering my limit? I would not have paid that much knowing what they were going to do.

This Company is doing some strange things and I do not trust them at all or know if its even legal. But one thing is for sure they took the opportunity to take a lot of my money then cancel me.

Eunice
Atascadero, California
U.S.A.