Complaint Review: Providian - Mt Laurel New Jersey

Brit, Wow you covered a lot of ground. I respect your opinion and view it like this: I made factual statements as to my experience and even threw an opinion at the end. You may or may not believe me but do you believe everyone who says they have had major problems? I will respond in sequence with your posting. You state: "Your assertion is that it's okay for every other business you deal with to take advantage of the first company's mistake" Reply: I do not assert it is OK for companies to make mistakes and have other companies take advantage of it. I state that many credit cards handle business this way, I in fact do not agree with it, but unfortunately am used to it. I'm not sure how you believe I think its OK to practice this. You state: "The whole of a person is not described by a bunch of inaccurate information on the file established in their name by some "credit bureau". Reply: I agree. Not sure how a bunch of inaccurate information is relevant to my original post. However, there are checks/balances with the system. If the checks/balances do not work out, there is always the possibility of a lawsuit for defamation or liability, also credit bureau's must abide to many laws. No one is powerless against the system. You state: "The credit bureaus have nothing to gain by correctly reporting our information" Reply: I am a responsible and proud individual who WILL NOT LET ANY CREDIT BUREAU OR LENDER SOIL MY NAME IN ANY WAY. I'm not implying that you or anyone else is not also the same, I'm just stating that I am working the system to my favor successfully. Your comments regarding electricity and rent not being reported to credit bureaus: Reply: These are considered necessities, unsecured credit is very important, but life can be lived without it. Unsecured credit abides by different laws than the necessity of electricity and an apartment over your head. I don't really see the comparison. Your comments regarding envisioning a more self sufficent lifestyle without the use of credit, this is something very few can obtain in my opinion. I can't factually say who can or can't do this. I can provide reasons why I think many are not even close to that possibility. I live close to a major metropolitan which employs millions of people. I see millions of people work for a living. I see many people who can't stay current with their property tax, many people who have liens, many people in bankruptcy, many people who drive much older cars, many people who rely on social security fully, and many people who rely on state or federal aid. I also see that the unemployment rate hovers around 5-6% of america. I see that the average home has over 1 kid. I see that the cost of living goes up each year. My point is that many people can't worry about the future when they are worried about today. Your statement regarding possibly falling for the credit companies scam: Much of that is off-base to my situation. I understand you were making a scenario, but here is a few reasons why it's not even close to me. I never said I was a good person and Providian never said I was good or even complimented me in any way. The reduction in interest rate did not factor into my spending habits at all. I have purchased nothing since being reduced and have no immediate plans to buy anything either. You comment regarding 14 days to post a payment (again I understand you were making a worse case scenario) Reply: I pay online, I immediately have a receipt of my transaction printed for my records. I know how to cover my tracks. Brit, I believe you are an intelligent person who seems fed-up with the system and see the down side. I'm curious to know if you have a better plan. I'm all for logical complaints as long as they are accompanied by a suggestive solution because anyone can point a finger and say "that ain't right". In general: I truly believe that the current system of credit can be worked to anyones favor if they just do their homework and cover their buttocks. I understand their are real life tradgedies and special circumstances which may alter one's ability to control something like credit. If you run into a problem, shoot for the kill and take no prisoners. My system is simple: Organization Paper Work / Proof of payment Filing cabinet Communication Basic Knowledge of Companies I deal with. This system has never done me wrong, I have run into messes, but you can be dam sure I clean them up.

Mike, Food for thought, I kindly disagree with your assertion that because Providian gave you a lower interest rate, it makes them a good company in spite of their devious practices. It's too easy for any company to make an error with your account and then report you delinquent to the credit bureaus. Your assertion is that it's okay for every other business you deal with to take advantage of the first company's mistake, and you wind up paying for it across the board. This practice of handling an account based on what other companies report is contrived nonsense. It is the result of business not seeing their customers as people, but as numbers and profits. We are not an account numbers. The whole of a person is not described by a bunch of inaccurate information on the file established in their name by some "credit bureau". The credit bureaus have nothing to gain by correctly reporting our information; the bills are paid by the people who report to them. By downgrading your credit, everyone makes more money off of you. It's ironic how we are responsible for the accuracy of the information in our credit report, but we have very little control over it. Credit reports are rarely 100% accurate. When was the last time your electric company reported positive information about paying your electric bills on time? It's only when your payment isn't posted by the due date that anything gets reported. Does your landlord report your rent being paid on-time? Very little positive information gets reported. Anyway, we never contracted with a credit bureau to tell others how good or bad we are at paying our bills. Just like companies never contracted with Ripoffreport, but there are plenty of people reporting information here. When a company makes an error, we pay, when we make an error, we pay. When a company commits a crime, we pay...sometimes, if it's egregious enough, the company will pay a little. When someone else commits a crime (i.e. fraud) we pay. The entire personal, unsecured credit industry is soiled. I have opted out of using credit cards. I wish I could even opt out of using my business card, but can't, company policy. I'm glad that you feel good about your circumstance. However, I would strongly recommend you re-evaluate what makes you feel good. Envision yourself not using credit, envision being self-sufficient. Work towards that goal. Envision, earning, paying cash, giving to charity and saving...that's it. Financial freedom. Do yourself a favor, quit feeding these companies. It appears to me that you are in the process of falling for their scam, which works something like this. /begin sarcasm. The Credit card company send you a card, you use it responsibly. Out of the blue, because you are such a good person, and because we really like you Mike, your credit line goes way upremember, you earned itand you deserve it. Then you get to thinking, wow I have this huge credit line, but boy I sure don't want to finance a big purchase at 25%, and besides, I'm a really good person, and I can speak nicely to customer servicelet's give them a call. Hello, can I pretty please have a lower ratebut I really deserve it. Great Thanks! Now I have a credit line of 89 thousand dollars, and only prime +2% interest, I think I'll buy some stuff with it, that I deserve, because I'm a good personeven the credit card company told me I was. So you buy some stuff, go on a trip, reward yourself for being good...then wham, due to internal conflict in the nation of Islamastan, your interest rate must be increased to 29%. You may attempt to transfer this balance to a lower rate card within the next 28 days (Starting from when the credit card company wrote the notice, 3 weeks before you received it, in fine print folded into an offer for a free set on encyclopedias,) but we will lose any and all requests you make to pay off this balance. Since you were attempting to leave us in the lurch by not paying the extra interest, we will lose all payments you attempt to make, causing you to go over the huge limit we gave you, thus rendering you responsible for late fees, and over limit fees. Should you pay you bill on-time, say electronicallywe may wait the customary 14 business days for the transaction to postthus making you responsible for more feesand the 14 dollar electronic Convienience feeNow that you're stuck and frustrated, you can call and try to speak to someone who understands that you really are a good person, and don't deserve this. Ha, they never really cared how good or bad you were. Your credit score says nothing about how good or bad you are, it tells lenders whether or not you are a candidate for profit making. /sarcasm off Finally, I under no circumstance am impugning your integrity Mike, but to make a point, how do we really know you had a good experience. I believe you did. But just like the information in your credit reporthow do we really know it's accurate, and what does it tell us about you?