"Providian -> WaMu (My Experiences)"
Washington Mutual Visa Platinum® Review
Written by: karatz on 2008-07-29
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
karatz's review: 
Here's my take on this card.
I opened this account in 09/2003. My limit was $3500.00. I used the card to make some balance transfers (good deals) which pretty much maxed it out.
06/2004 I paid off the remaining balance, $-2595.58. I messed up on the full payoff so I sent another check three days later for $28.56. My checking account had $14,901.00 balance but for some reason, Providian charged me a $20.00 overdraft charge. They blamed my bank, my bank said "what the heck?". I should have pursued it but I was in school taking 23 unit and working full time :(.
With my balance at $48.56, I did another balance transfer for the max again. Six months later I paid that balance off, $-3098.51, on 01/2005.
Since 01/2005. I used this card for purchases. My total payments from this date to today have been $6074.21, my total finance charges from this date to today have been $904.15.
In 09/2006, I was stuck in Portland, Oregon and couldn't get back home (Southern California). I went to the Library to pay my bill online. My online banking said the payment would arrive on 09/13/06, the due date and the earliest it would accept. Providian showed my payment arriving on 09/20/06. They charged me a late fee of $39.00 and jacked my rate from 17.24% to 24.24%. My bank said it was a transfer error that was Providian's fault. Three calls to Providian: 1st, the lady had IQ problems. She said my payment was received 10/13/06 and that the 09/20/06 payment was for the month before. Therefore I was late 30 days. Um, we're having an earth quake. 11:43 AM 7/29/08.
Here's my take on this card.I opened this account in 09/2003. My limit was $3500.00. I used the card to make some balance transfers (good deals) which pretty much maxed it out.
06/2004 I paid off the remaining balance, $-2595.58. I messed up on the full payoff so I sent another check three days later for $28.56. My checking account had $14,901.00 balance but for some reason, Providian charged me a $20.00 overdraft charge. They blamed my bank, my bank said "what the heck?". I should have pursued it but I was in school taking 23 unit and working full time :(.
With my balance at $48.56, I did another balance transfer for the max again. Six months later I paid that balance off, $-3098.51, on 01/2005.
Since 01/2005. I used this card for purchases. My total payments from this date to today have been $6074.21, my total finance charges from this date to today have been $904.15.
In 09/2006, I was stuck in Portland, Oregon and couldn't get back home (Southern California). I went to the Library to pay my bill online. My online banking said the payment would arrive on 09/13/06, the due date and the earliest it would accept. Providian showed my payment arriving on 09/20/06. They charged me a late fee of $39.00 and jacked my rate from 17.24% to 24.24%. My bank said it was a transfer error that was Providian's fault. Three calls to Providian: 1st, the lady had IQ problems. She said my payment was received 10/13/06 and that the 09/20/06 payment was for the month before. Therefore I was late 30 days. Um, we're having an earth quake. 11:43 AM 7/29/08.
11 Comments
Comment 1 by karatz
Ok, I'm Back... 
on 2008-07-29
A moderate earthquake occurred at 11:42:15 AM (PDT) on Tuesday, July 29, 2008.
The magnitude 5.8 event occurred 3 km (2 miles) SW of Chino Hills, CA.
The hypocentral depth is 12 km ( 8 miles).
So... I called back the second time so I could speak to someone else. No luck. Basically, he said pay your bill on time for 6 months and we will consider lowering your interest rate. A week later, the third person gave me what really seemed like a scripted line, an infinite loop.
I wrote a letter to Providian. I included a transaction report from both the VISA and my Bank. I included a copy of my scratch where I had written down what I spoke to the service rep about which included their names. Never heard from Providian. I called one more time about 2 months later, then paid off the VISA with two payments between 5/2007 and 6/2007.
6/2008 I used my card cause the place where I was shopping wouldn't take my Citibank American Express (8.99%) and my BofA was in my old wallet still. WaMu showed my new rate at 13.99%. I had called them a few months back and asked why the 17.24%. I have a decent enough credit rating I think. Apparently they did change it, but still not anywhere near my 8.99% Citibank and my 9.95% BofA.
Next, 06/2008, a buddy and I drove down to WaMu to open a checking account. I recommended BofA, two ladies here at the bank where I live are A1 Class Primavera. I'm always very reasonable, respectful, I just don't like being lied to or taken advantage of. Remember, it's not the bank that sucks or rocks, it's the employee that either helps you resolve an issue, or doesn't. If you find an employee that will treat you well and service you according to your credit rating, hang on to that bank... At least until you move. So while at the WaMu bank, Travis Hockensmith (909) 793-4450 basically told me that Providian turned WaMu VISA was, so be clean, useless. He offered me an app for another WaMu VISA (Um each request lowers your credit rating... See above. NO!) So, I'm told no rate reductions, no credit lines increases. Basically when a gallon of gas cost rises to $1000.00, I will only be able to charge three gallons.
So... One Pro: I do like the credit score thing that WaMu/Providian provides. It really helps set goals and see the results of goals met from month to month. I have some commercial property in Oregon with more than half of the appraised value paid off. I want to refinance it, and with a 720 credit score or better, I should be able to knock 2.5% off the interest rate. My July 08 credit rating is 728 so I will now apply for that loan. With that credit score, I should be able to get whatever card I want and the lowest rate that card allows.
So what to do now?
1st: I'm going to send a copy of this review to WaMu. They can see I have a 728 credit score. I would like their best interest rate. I would like some indication that my Providian turned WaMu VISA is not worthless to me, maybe a limit review, or a response on how often they do that and what they came up with when they last reviewed mine (if they did), something, humor me.
2nd: I'm gonna shop for another VISA with some sort of benefit. I charge everything, and I know they profit when I charge. My Citibank AMEX 8.99% is my first choice, my BofA 9.95% has an awesome limit but I have enough plane tickets on it to last me for the next who knows how long. I keep my old Capital One Cards, but don't use em. They are the bad guys in their commercial. I got $9500.00 limit, but the service and rate jumps around constantly and expectantly.
Scratch my back, I'll scratch yours...
3rd: I'll keep my WaMu VISA for the credit score thing. Just charge a few things every six months or so and pay em off immediately. They won't give me anything, so I'll just give them enough to keep the account open.
My recommendation: WaMu is great for that credit score thing. I would still keep them if that went away only for the fact that lowing available credit actually lowers your credit rating; (length of the open account, and it raises the ratio of used credit to total credit available.) Other than that, this card has been worthless to me, and without any benefit whatsoever.
on 2008-07-29 A moderate earthquake occurred at 11:42:15 AM (PDT) on Tuesday, July 29, 2008.The magnitude 5.8 event occurred 3 km (2 miles) SW of Chino Hills, CA.
The hypocentral depth is 12 km ( 8 miles).
So... I called back the second time so I could speak to someone else. No luck. Basically, he said pay your bill on time for 6 months and we will consider lowering your interest rate. A week later, the third person gave me what really seemed like a scripted line, an infinite loop.
I wrote a letter to Providian. I included a transaction report from both the VISA and my Bank. I included a copy of my scratch where I had written down what I spoke to the service rep about which included their names. Never heard from Providian. I called one more time about 2 months later, then paid off the VISA with two payments between 5/2007 and 6/2007.
6/2008 I used my card cause the place where I was shopping wouldn't take my Citibank American Express (8.99%) and my BofA was in my old wallet still. WaMu showed my new rate at 13.99%. I had called them a few months back and asked why the 17.24%. I have a decent enough credit rating I think. Apparently they did change it, but still not anywhere near my 8.99% Citibank and my 9.95% BofA.
Next, 06/2008, a buddy and I drove down to WaMu to open a checking account. I recommended BofA, two ladies here at the bank where I live are A1 Class Primavera. I'm always very reasonable, respectful, I just don't like being lied to or taken advantage of. Remember, it's not the bank that sucks or rocks, it's the employee that either helps you resolve an issue, or doesn't. If you find an employee that will treat you well and service you according to your credit rating, hang on to that bank... At least until you move. So while at the WaMu bank, Travis Hockensmith (909) 793-4450 basically told me that Providian turned WaMu VISA was, so be clean, useless. He offered me an app for another WaMu VISA (Um each request lowers your credit rating... See above. NO!) So, I'm told no rate reductions, no credit lines increases. Basically when a gallon of gas cost rises to $1000.00, I will only be able to charge three gallons.
So... One Pro: I do like the credit score thing that WaMu/Providian provides. It really helps set goals and see the results of goals met from month to month. I have some commercial property in Oregon with more than half of the appraised value paid off. I want to refinance it, and with a 720 credit score or better, I should be able to knock 2.5% off the interest rate. My July 08 credit rating is 728 so I will now apply for that loan. With that credit score, I should be able to get whatever card I want and the lowest rate that card allows.
So what to do now?
1st: I'm going to send a copy of this review to WaMu. They can see I have a 728 credit score. I would like their best interest rate. I would like some indication that my Providian turned WaMu VISA is not worthless to me, maybe a limit review, or a response on how often they do that and what they came up with when they last reviewed mine (if they did), something, humor me.
2nd: I'm gonna shop for another VISA with some sort of benefit. I charge everything, and I know they profit when I charge. My Citibank AMEX 8.99% is my first choice, my BofA 9.95% has an awesome limit but I have enough plane tickets on it to last me for the next who knows how long. I keep my old Capital One Cards, but don't use em. They are the bad guys in their commercial. I got $9500.00 limit, but the service and rate jumps around constantly and expectantly.
Scratch my back, I'll scratch yours...
3rd: I'll keep my WaMu VISA for the credit score thing. Just charge a few things every six months or so and pay em off immediately. They won't give me anything, so I'll just give them enough to keep the account open.
My recommendation: WaMu is great for that credit score thing. I would still keep them if that went away only for the fact that lowing available credit actually lowers your credit rating; (length of the open account, and it raises the ratio of used credit to total credit available.) Other than that, this card has been worthless to me, and without any benefit whatsoever.
Comment 2 by meya
Thanks For Your Info on 2008-07-29
This is great info and we really appreciate it! Are you ok down there in L. A? I just seen it online a few minutes ago, I hope eveyone is alright, I seen no injuries was reported and... Omg, let me contact my lil bro. Thanks for the info again.
on 2008-07-29 This is great info and we really appreciate it! Are you ok down there in L. A? I just seen it online a few minutes ago, I hope eveyone is alright, I seen no injuries was reported and... Omg, let me contact my lil bro. Thanks for the info again.
Comment 3 by hjm331
RE: Karatz on 2008-07-29
That is a very detailed review. Thanks for sharing your experiences with us.
If you don't like the card, then don't close it. Use it to make small purchases to show some activity and pay in full before the statement closes to avoid paying interest.
on 2008-07-29 That is a very detailed review. Thanks for sharing your experiences with us.If you don't like the card, then don't close it. Use it to make small purchases to show some activity and pay in full before the statement closes to avoid paying interest.
Comment 5 by cireone
WaMu/Providian on 2008-07-29
Ive noticed that many Providian credit car holders were the ones given rate hikes and CLDs since they were bought out by WaMu. I have a WaMu Platinum Mastercard and a MyPoints Visa (which is issued by WaMu). I have had no problems with them and they are generous with CLIs as long as you are in good standing with them and your credit score doesn't change. there was word that they are considering selling of their credit card division to cut the losses but I hope they don't as Chase is the potential buyer. I cant get any account from them and I heard that chase may just either close you account or change the terms if you don't meet their credit criteria
on 2008-07-29 Ive noticed that many Providian credit car holders were the ones given rate hikes and CLDs since they were bought out by WaMu. I have a WaMu Platinum Mastercard and a MyPoints Visa (which is issued by WaMu). I have had no problems with them and they are generous with CLIs as long as you are in good standing with them and your credit score doesn't change. there was word that they are considering selling of their credit card division to cut the losses but I hope they don't as Chase is the potential buyer. I cant get any account from them and I heard that chase may just either close you account or change the terms if you don't meet their credit criteria
Comment 6 by eric
Providian on 2008-07-31
The reason Wamu wont give me a credit card was because I had a providian card back in 1999... My 1st credit card which I screwed up... Limit was $400... I charged $150 in Cash advances and paid them back $100... Well being 19 and stupid I let it fall back and after this is all said and done I owe them over $350. Well when I applied for a Wamu MC 4 or 5 mths ago they declined me because I defaulted on one ofthere credit cards... Lol I cant wait until that falls off my credit report in 2009.
BTW... My cousin Jeff has or had Providian... He hates them because they were always trying to rip him off by saying his payment was past due in the mail by a day or two after the DD
on 2008-07-31 The reason Wamu wont give me a credit card was because I had a providian card back in 1999... My 1st credit card which I screwed up... Limit was $400... I charged $150 in Cash advances and paid them back $100... Well being 19 and stupid I let it fall back and after this is all said and done I owe them over $350. Well when I applied for a Wamu MC 4 or 5 mths ago they declined me because I defaulted on one ofthere credit cards... Lol I cant wait until that falls off my credit report in 2009.BTW... My cousin Jeff has or had Providian... He hates them because they were always trying to rip him off by saying his payment was past due in the mail by a day or two after the DD
Comment 7 by karatz
August 14, 2008 Update on 2008-08-21
Letter 1
We apologize that we are unable to lower your rate at this time. We periodically evaluate our customers' accounts. If your account becomes eligible for a better interest rate, you will be notified by mail and your account will reflect the change immediately. We are sorry we are unable to meet all of your account needs at this time.
If we may be of further assistance...
Letter 2
Unfortunately, we do no process credit line increases by customer request. We do automatically review your account. If you account qualifies for a higher credit line, we will notify you by mail and the increase will be reflected on your monthly statement.
on 2008-08-21 Letter 1We apologize that we are unable to lower your rate at this time. We periodically evaluate our customers' accounts. If your account becomes eligible for a better interest rate, you will be notified by mail and your account will reflect the change immediately. We are sorry we are unable to meet all of your account needs at this time.
If we may be of further assistance...
Letter 2
Unfortunately, we do no process credit line increases by customer request. We do automatically review your account. If you account qualifies for a higher credit line, we will notify you by mail and the increase will be reflected on your monthly statement.
Comment 8 by karatz
My Thoughts... on 2008-08-21
Like I stated prior, the credit score thing with WaMu is pretty cool. The coolness, however, stops and ends there.
I know that the Visa company gets from 1%-5% in fees every time I use a credit card. With that said, I just bought a brand new motorcycle and paid it in full using another VISA. The due date is Sept 8. I have all but about $500 sitting in a sharebuilder.com account drawing some interest. I'll pay the card off in full just before Sept 8. Someone, other than WaMu, who actually values my credit got all that 1-5% in fees.
Now here's the interesting part. My WaMu had a $257.56 balance that I paid in full by the due date. It also had $92.10 in new charges which I will pay off by the next due date. My Citibank AMEX at 8.99% has basically no change in the balance. I made $1100 in payments last statement and charged pretty much the same amount. I've already made $500 in payments this month. I carry a balance and almost went over my limit, opps, lol. The payments were just not posting fast enough.
I bought the motorcycle on another card cause of the higher available limit. Even though Sept 8 is the due date for the bike, my credit score went from 728 to 708. I wonder how long it will take to get a bump back up when I pay it off in full on Sept 8?
on 2008-08-21 Like I stated prior, the credit score thing with WaMu is pretty cool. The coolness, however, stops and ends there.I know that the Visa company gets from 1%-5% in fees every time I use a credit card. With that said, I just bought a brand new motorcycle and paid it in full using another VISA. The due date is Sept 8. I have all but about $500 sitting in a sharebuilder.com account drawing some interest. I'll pay the card off in full just before Sept 8. Someone, other than WaMu, who actually values my credit got all that 1-5% in fees.
Now here's the interesting part. My WaMu had a $257.56 balance that I paid in full by the due date. It also had $92.10 in new charges which I will pay off by the next due date. My Citibank AMEX at 8.99% has basically no change in the balance. I made $1100 in payments last statement and charged pretty much the same amount. I've already made $500 in payments this month. I carry a balance and almost went over my limit, opps, lol. The payments were just not posting fast enough.
I bought the motorcycle on another card cause of the higher available limit. Even though Sept 8 is the due date for the bike, my credit score went from 728 to 708. I wonder how long it will take to get a bump back up when I pay it off in full on Sept 8?
Comment 9 by ladywrenn
I Gave Mine Up on 2008-08-23
I had both a business Visa $1,000.00 limit and a personal Visa $500.00. I had a balance of $305.53 on the business card. I guess 14 months of paying 3 times the minimun or total payoff when possible count for nothing with these people. They slashed my $1,000.00 limit to $312.00 leaving me with $6.47 available. As far as I'm concerned they knowingly maxed my card. No notice they were doing this. Thye had the nerve to say my account was delinquent. (3 days is not even considered late with most companies. I paid it off and closed both accounts. Even though I had a 0 balance on my personal Visa. I just am not willing to do business with a company that does things like that. These people just seem shady to me. I seem to remember getting a small check (less than $20.00) several years ago when they were Providian and a bunch of ticked off people brought a class action suit against them for shady practices. That's just my take on them.
on 2008-08-23 I had both a business Visa $1,000.00 limit and a personal Visa $500.00. I had a balance of $305.53 on the business card. I guess 14 months of paying 3 times the minimun or total payoff when possible count for nothing with these people. They slashed my $1,000.00 limit to $312.00 leaving me with $6.47 available. As far as I'm concerned they knowingly maxed my card. No notice they were doing this. Thye had the nerve to say my account was delinquent. (3 days is not even considered late with most companies. I paid it off and closed both accounts. Even though I had a 0 balance on my personal Visa. I just am not willing to do business with a company that does things like that. These people just seem shady to me. I seem to remember getting a small check (less than $20.00) several years ago when they were Providian and a bunch of ticked off people brought a class action suit against them for shady practices. That's just my take on them.
Comment 10 by karatz
This WaMu / Providian Card =JOKE!!! on 2008-09-20
Ok so here's the update. Yesterday, I logged into WaMu to cause I got an email that my credit score changed by more than 20 points.
FICO Score
Your FICO credit score is 682
When I made this post, I decided to purchase the $19.95 / month service from TransUnion which monitors your report and score daily. The lowest my scores have been are:
TransUnion Experian Equifax
726 723 723
That's a 44 point difference!
Here is their reply:
Dear [Edited for your privacy],
Thank you for your recent e-mail regarding your account.
The FICO score and other Credit Profile information displayed on our website reflect information provided by Trans Union as of a certain date indicated (usually for the preceding month). The information shown in a credit report from Trans Union may be different because of the date the report was generated.
Keep in mind that you have 3 FICO scores, one for each of the three major Credit Bureaus Trans Union, Equifax, and Experian. Each score may be different because the credit information each Credit Bureau maintains can differ.
You may want to direct your concerns to one of the three major Credit Bureaus:
Trans Union Consumer Disclosure Center
2 Baldwin Place, P. O. Box 1000
Chester, PA 19022
1-800-888-4213
http://www.Transunion.com
Equifax, Inc.
160 Peachtree Street NW
Atlanta, GA 30309
1-800-685-1111
http://www.Equifax.com
Experian National Consumer Assistance Center
701 Experian Parkway, P. O. Box 2002
Allen, TX 75013
1-888-EXPERIAN (1-888-397-3742)
http://www.Experian.com
Additional information regarding FICO scores can be obtained from FICO online at http://www.MyFICO.com
If you have further questions or would like additional information, please e-mail us through our secure Contact Center or you may also call our Customer Service Department toll-free at 1-800-280-0561. Representatives are available to assist you 24 hours a day, 7 days a week.
Thank you. We look forward to more opportunities to meet your financial needs.
Sincerely,
Customer Service Representative
P. S. We hope you enjoy the convenience of online account access. Keep in mind, at our website you can check your balance, pay your bill, and more - 24 hours a day!
on 2008-09-20 Ok so here's the update. Yesterday, I logged into WaMu to cause I got an email that my credit score changed by more than 20 points.FICO Score
Your FICO credit score is 682
When I made this post, I decided to purchase the $19.95 / month service from TransUnion which monitors your report and score daily. The lowest my scores have been are:
TransUnion Experian Equifax
726 723 723
That's a 44 point difference!
Here is their reply:
Dear [Edited for your privacy],
Thank you for your recent e-mail regarding your account.
The FICO score and other Credit Profile information displayed on our website reflect information provided by Trans Union as of a certain date indicated (usually for the preceding month). The information shown in a credit report from Trans Union may be different because of the date the report was generated.
Keep in mind that you have 3 FICO scores, one for each of the three major Credit Bureaus Trans Union, Equifax, and Experian. Each score may be different because the credit information each Credit Bureau maintains can differ.
You may want to direct your concerns to one of the three major Credit Bureaus:
Trans Union Consumer Disclosure Center
2 Baldwin Place, P. O. Box 1000
Chester, PA 19022
1-800-888-4213
http://www.Transunion.com
Equifax, Inc.
160 Peachtree Street NW
Atlanta, GA 30309
1-800-685-1111
http://www.Equifax.com
Experian National Consumer Assistance Center
701 Experian Parkway, P. O. Box 2002
Allen, TX 75013
1-888-EXPERIAN (1-888-397-3742)
http://www.Experian.com
Additional information regarding FICO scores can be obtained from FICO online at http://www.MyFICO.com
If you have further questions or would like additional information, please e-mail us through our secure Contact Center or you may also call our Customer Service Department toll-free at 1-800-280-0561. Representatives are available to assist you 24 hours a day, 7 days a week.
Thank you. We look forward to more opportunities to meet your financial needs.
Sincerely,
Customer Service Representative
P. S. We hope you enjoy the convenience of online account access. Keep in mind, at our website you can check your balance, pay your bill, and more - 24 hours a day!
Comment 11 by karatz
Oh, And on 2008-09-20
I paid the Visa off in full that I bought the bike on two months ago now... The balance still shows on my Cap 1 car, LOL, but that's probably for the Cap 1 thread.
on 2008-09-20 I paid the Visa off in full that I bought the bike on two months ago now... The balance still shows on my Cap 1 car, LOL, but that's probably for the Cap 1 thread.
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Disclaimer: This content is not provided by Washington Mutual Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Washington Mutual Bank. Review content is powered by Finance Globe.
