Providian Emerge Mastercard ripoff There should be some law on consumers being able to increase interest rates once an account has been closed. Atlanta Georgia

When I first got my account from providian in 1998 my account had available credit of $500 max. When I left to go to Korea in 2000 my credit limit was the same. While in Korea I never saw any of my bills, but I made sure I paid off the account every chance I could while in Korea.

Once I returned back to the states I got a statement from Providian stating I had a balance of 2,000 dollars. I never asked or was told that my credit limit had increased. By 2001 I got tired of this account and asked for the account to be closed. They closed the account with no problem, but two or three months later I noticed that Providian had increased my interest rate. They claim they notified me, but I never recieved anything about my interest at all.

The lady that I spoke with concerning the matter said because I was late 3 consecutive times. Which I was not, they had sent a payment through my bank and somehow there was a problem getting the check clear. Once we corrected the problem I continued to make payments.

In March I sent them a $500 payment, which my balance til this day looks to be the same. I asked the new owners about correcting the interest rate and the customer service rep. said no. There should be some law on consumers being able to increase interest rates once an account has been closed. Especially if they are still getting their payments with no problem.

Tiffany
columbus, Georgia
U.S.A.