What you fail to realize is if providian is selling off loans for their customers who have high credit ratings and have consistently paid off the minimums and have maintained a balance that they are collecting interest on, then they are throwing away money.
I thought they were in business to make money and I thought they were trying to get rid of bad loans/debt.
I sincerely doubt their strategy now and am worried that they are brainless fools.
I just posted a fact. I have a great credit history, the highest equifax credit rating you can get, and everything else I stated above and they sold my account to CHASE?
What a bunch of losers they are.
If your account was sold,,it was due to sub prime risk that PVN had to give up in order
to stay in the game..Believe me they weren't
happy ,but the rules are the rules..PVN had
to do it,,In other news---PVN share price
will continue to build going forward,,at least
into double digits..imho
Well stated Gun, this is a common argument on this board in the past. I for on would not get offended if my cc account was switched to a different servicer. If this pisses you off then switch to another one that doesn't!
I am interested in talking about PVN's marketing tactics today - any comments are appreciated. I would like to see PVN explore niche markets with cashback bonus cards. One of the more enticing offers I participated in in the past was an offer by Chase (or Fleet -I can't remember) that paid a $50 face EE US Savings Bond for every $2500 spent. Basically this amounts to a 1% net discount, because these bonds are issued at 1/2 face value. An offer like this is especially enticing because it allows an addition vehicle for saving money through the accrual of interest on these bonds. They suspended this offer I believe, but I think I earned 15 bonds this way. Any comments.....
Do you think the world revolves around you? Banks sell accounts all the time - it does not reflect on you personally. And don't forget that PVN has to follow strict rules under the new plan - maybe they were forced to sell your account for some reason. As banks grow they are often required to divest some accounts.
Correct me if I'm wrong, but didn't Providian sell their Master Trust to Chase to offset some of the losses they were going to take on getting rid of their higher risk portfolio? I think they did, I don't think they wanted too, but they had too so they could keep the company financially healthy. I don't see anything wrong with that.
If you were part of that sale and don't like Chase, then Pay off the card and cancel it and re-apply for a new card at Providian. Don't sit and cry on this message board because most of us don't care about your problems........
No buddy, crybaby's like you suck. Truth know, pvn didn't sell your account, they wrote if off after they couldn't collect. My account was in the master trust, it got sold. Ya no what I did? Re-applied, got another card and cancelled the one that got sold.
You posting providian sucks only shows how in trouble your short is in, and my man if you're short you're in trouble. I'm not a real believer in ta, but if you look at the technicals pvn is about to break out huge.