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 ...

Greg of Baltimore, MD April 2, 2007

Greg of Baltimore MD (04/03/07)

I have recently paid off much of my debt, and have paid the remainder down to at or below 50%  In January I actually made two payments, one of which brought my credit balance to just about 50% of the credit limit. I have since made on time payments of above the minimum payments due. I just received my March statement and discovered that my credit limit had been lowered to one-half of what it was which now brings my balance almost to what the credit limit now is. The rate is already very high at 31.49% and then Wamu charged a 59.00 annual fee in late February, the timing stinks. I have just spent 45 minutes on the phone (10 of those on hold) having Mr. George tell me that he couldn't tell me why my credit limit was lowered because no one is able to access the letter that was sent to me (that I have yet to receive) for at least 7-10 days.

Victoria of Santa Rosa, CA March 16, 2007

Victoria of Santa Rosa CA (03/16/07)

I started with poor credit and a 500.00 credit line. My credit line has been increased by Providian/WaMu to 15,000.00 which would seem to indicate that I've been a good customer. I have always paid 2 or 3 times the minimum. My interest rates have climbed from the introductory amount to 30.03%. They won’t tell me why.

Bonny of Howard Beach, NY January 30, 2007

Bonny of Howard Beach NY (01/30/07)

I have been paying on an account that I had closed sometime ago. I have always paid more than my minimum payment. During the past year I was late on ONE payment which I immediately paid when I realized in fact I overpaid the amount due. I am now being charged an APR of 34.17%. When I contacted them they refused to lower the rate.

Lisa of Jacksonville, FL November 14, 2006

Lisa of Jacksonville FL (11/14/06)
I had a Providian Bank card. I was a perfect payer, I was on time every month. I started with a 500.00 limit and with time and a good pay record my credit limit ran up to 5000.00. I continued to pay my credit card balances and payments. I had a change in employment, all of my overtime was taken away, but I never stopped paying at least the minimum payment required and I never missed a payment. I then bounced back and started paying lump sums until Providian raised my APR to 38%. I stopped paying and now they are threatening to sue me.

They have called me day and night for years and have sent me threatening letters. I sent them a cease and desist letter telling them to stop calling my home and work telephone number. They refused to settle the account with me. They refused to reduce my monthly APR %. When I stopped paying they turned my account over to a collection agency and now a law office. Now this law office is threatening to sue me. They yell at me on the phone and refuse to come to some equitable term for a settlement. As a result I am going to file bankruptcy. It's the last straw.

Karen of Middleburg, FL September 2, 2006

Karen of Middleburg FL (09/02/06)
I had a Providian Charge Card and was a on time payer. I had received my Visa card with a credit limit of 1,OOO to start. With good ontime payment Providian raised my credit limit up to 4,000. Due to a job loss for my husband I was unable to make a payment. We had gotten behind one month and they shut my credit card down. After two months they wanted two payments plus late fees I was unable to make the full payment. I told they to close the account and I would continue making payments. They did not they kept making late fees on top of late fees and now the account balance is 8,890.95 I feel that providian has ruin my credit for several years due to improperly charged for late fees.

I am unable to get a good credit rating due to the charge off account they have put on my credit bureau. This has been 7 yrs. And now they want 9,000 dollars and I have not heard from them in over 6 yrs.

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