Providian Visa card - credit card account sold to Aspire - interest rate increased from 23.9% to 30% - other terms changed

# 17 for August 21, 2003

Complaints.com received the following consumer message on August 20, 2003:

From:

RE: Providian Visa card - credit card account sold to Aspire - interest rate increased from 23.9% to 30% - other terms changed

Dear complaints.com I have had a providian Visa card for 4 years. During that time I have never had a late payment. However my interst rate remained at 23.9 % after many request to lower it. Recently I began to transfer my balance to another credit card which has given me a 14.5 % interest rate (one I have only had for 5 months). On Sunday August 17, 2003 I returned home from a long weekend and discovered that Providian had sold my credit card to aspire. At no point did I recieve anything from providian stating that this was a possibilty. In addition to this Providian was not charging a yearly fee and Aspire was going to charge me $59 a year. But wait there is more, Aspire

increased my finance charge to 30% and dropped my credit limit $400 (which mas put me $40 over my limit). I immediatley called to opt out of this deal, so that I could pay my balance off on the terms that I had signed up with on providian. Aspire gave me a VERY Difficult time and had no idea why everything was changed. Providian was not much better and they stated that the decision was final. I guess I am writing thyis to warn others NEVER deal with either Providian or Aspire credit cards...and to see if anyone has information on whom is the director of Customer service at both of these companies. I would rather

write letters to them, for they can see how there employees are acting Juliette Zaengle

Cleona, Pa 17042